Overview and Scope
Medical lighting technologies refer to the technology that properly exposes the subject's real color and has the added benefit of several groupings of tiny light sources mounted at different angles to aid in shadow reduction for a more uniform surgical light. The medical lighting technologies are used to allow personnel to perform duties such as monitoring thermometers and creating charts at the bedside.
Sizing and Forecast
The medical lighting technologies market size has grown strongly in recent years. It will grow from $3.18 billion in 2023 to $3.46 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to growing healthcare infrastructure, enhanced surgical procedures, rise in minimally invasive surgeries, focus on patient comfort, demand for energy-efficient solutions, demand for energy-efficient solutions, global healthcare spending increase..
The medical lighting technologies market size is expected to see strong growth in the next few years. It will grow to $4.74 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to shift towards human-centric lighting, advancements in color rendering, remote and telemedicine trends, focus on environmental sustainability, enhancing operating room lighting, enhanced operating room lighting.. Major trends in the forecast period include led technology dominance, advancements in surgical lighting, integration of smart lighting solutions, uv-c disinfection lighting, collaborations for technological integration, telemedicine and video conferencing lighting solutions..
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Segmentation & Regional Insights
The medical lighting technologies market covered in this report is segmented –
1) By Product: Surgical Lamps, Examination lights, Speciality lights, Accessories
2) By Technology: LED, Halogen, Incandescent, Other Technologies
3) By End-User: Hospitals, Outpatient Facilities, Dental Hospitals, Other End-User
North America was the largest region in the medical lighting technologies market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical lighting technologies market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
Increasing demand for better healthcare facilities is expected to propel the growth of the medical lighting technologies market going forward. Healthcare facilities refer to residential care institutions, nursing facilities, intermediate care facilities for people with mental illnesses, or intermediate care facilities for people with mental retardation. Lighting is critical in the healthcare setting since it is used in ICUs, operating rooms, and other critical places. High-quality lighting is required to offer a secure and comfortable atmosphere for patients, hospital personnel, and visitors. For instance, in May 2022, according to an article published by the American Medical Association, a US-based professional association, and lobbying group of physicians and medical students, in 2020, healthcare spending in the United States is expected to rise by 9.7% to $4.1 trillion, or $12,530 per person. This pace of growth is significantly higher than that of 2019 (4.3%). Therefore, increasing demand for better healthcare facilities is driving the growth of the medical lighting technologies market.
Key Industry Players
Major companies operating in the medical lighting technologies market report are A-Dec Inc., Brandon Medical Company Limited, Burton Medical LLC, Daray Limited, Draegerwerk AG & Co KGaA, Eaton Corporation plc, Excelitas Technologies Corporation, GE HealthCare Technologies Ltd., Getinge AB, Integra Lifesciences Holdings Corporation, KLS Martin SE & Co., Merivaara Corporation, Steris plc, Stryker Corporation, Trilux GmbH & Co KG, Welch Allyn Inc., Wolfspeed Inc., Johnson & Johnson Services Inc., 3M Company, Abbott Laboratories, Alcon Inc., B. Braun Melsungen AG, Baxter Laboratories Inc., Becton, Dickinson and Company, Boston Scientific Corp., Capsule Corp., Cardinal Health Inc., Grand Pharmaceutical Group Ltd., Danaher Corp., DNA Script SAS, Endologix Inc., Fresenius SE & Co. KGaA, Fujifilm Ltd., Grail Inc., Hill-Rom Holdings Inc.
The medical lighting technologies market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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The global Medical Lighting Technologies Market is forecasted to be worth USD 2.99 Billion by 2027, according to a current analysis by Emergen Research.
Over the forecast timeframe, the increasing government investment in healthcare facilities is anticipated to accelerate the market growth of medical lightning technologies.Besides, In developing countries, the growing proliferation of hospitals is anticipated to further boost the market growth.
Furthermore, Technically advanced and specialized lighting solutions are often needed for operation theatres since these solutions play a very important role in the efficient operation, Which is expected to stimulate the market growth in the forecast period.Medical Lighting Technologies Market Size – USD 1.94 billion in 2019, Market Growth - CAGR of 5.9 %, Market Trends – The rise in the concern for a specialized lighting solution in the operation theater.The rising government expenditure on healthcare infrastructure and the growing number of hospitals in the emerging economies are driving the demand for the market.
It comprises smart, automated solutions to assist and empower engineers to minimize significant electrical hazards, which is expected to strengthen its market position in the European region.Key participants include Getinge AB, Dragerwerk AG & Co. KGaA, Eaton Corporation plc, Herbert Waldmann GmbH & Co. KG, Cree Inc., Integra LifeSciences Holdings Corporation, Burton Medical Products Corporation, Brandon Medical Co Ltd., DRE Inc., and Koninklijke Philips N.V., among others.Product Type Outlook (Revenue, USD Billion; 2017-2027)Specialty lightingSurgical lighting systemsSurface-mounted LightsTroffersAccessoriesExamination lighting systemsOthersApplication Outlook (Revenue, USD Billion; 2017-2027)Intensive care units (ICU)Operating room/surgical suitesExamination roomsOthersGet a discount on the report:https://www.emergenresearch.com/request-discount/308Key questions addressed in the report:Who are the leading players dominating the global Medical Lighting Technologies Market?Which factors could potentially hamper the global market growth during the forecast period?Which regional market offers the most attractive growth opportunities to the companies operating in this market?How is the raw material availability affecting the demand for Medical Lighting Technologies in this industry vertical?The report further assesses the market dynamics, market landscape, company profiles, production and manufacturing capacity, year-on-year growth rate, SWOT analysis, and Porter’s Five Forces analysis.
It also provides information about their current advancements and key market strategies.Report Objective: The global Beacon Technology market is extremely competitive and comprise various key players operating at global and regional levels.
These players are adopting various strategies such as mergers and acquisitions, partnerships, collaborations, joint ventures, and new product launches to gain robust footing in the market and expand their product portfolio.Regional Analysis:The report sheds light on the region expected to dominate the Medical Lighting Technologies market in the coming years.
