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Global Hospital Lighting Market: Market Segments: By Product (Troffers, Surface-mounted lights, Surgical lamps and others); By Technology (Fluorescent, LED, Renewable Energy and Others);By Application (Patient Wards & ICUs, Examination Rooms and Surgical Suites);and Region - Analysis of Market Size, Share & Trends for 2014 - 2019 and Forecasts to 2030
The hospital Light sector is to enhance lights that differ tremendously in hospital buildings and the lighting must be sufficient for any hospital situation. It is still true that most complex hospital buildings have lighting designers. The buildings that actually run 24/7 every day of the year are hospitals. Lighting has been shown to play an important role in the healthcare infrastructure, as it is commonly used in hospital ICUs, wards, operation theatres and other environments. Lighting manufacturers are rapidly innovating products that allow for productivity and low cost.
Global Hospital Lighting Market to surpass USD XXXX million by 2030 from USD XXXX million in 2018 at a CAGR of XX% throughout the forecast period, i.e., 2019-30. The growing introduction of high-power surgical lights in operating theatres to improve the visibility of surgeons is promoting the growth of the industry. Energy-efficient and convenient features are responsible for the rapid growth of LED lighting systems in the healthcare sector. Several manufacturers are focused on supplying low-cost and energy-efficient equipment to reduce the running costs of healthcare facilities. The demand for adequate hospital lights to encourage patient relaxation and enhanced visibility to increase employee efficiency supports market growth over the forecast period.
The Global Hospital lighting market is segmented by product into troffers, surface-mounted lights, surgical lights and other products. The greater market share in 2018 was accounted by the surface mounted segment and growth in this segment is driven by factors such as increasing adoption of LED-based troffers in hospitals globally. The widely used lighting system is the surface-mounted system, as it provides the optimum distribution of light in the installed area. However, due to the increasing adoption of LED-based recessed downlights in operating rooms and LED-based recessed troffers in diagnostic and imaging rooms, the recessed lighting system is expected to be the fastest-growing segment during the forecast period.
Global Hospital Lighting Market is segmented by Technology into fluorescent, LED, renewable energy and others. The greater market share in 2018 was accounted for by the fluorescent technology segment and the trend is estimated to continue over the forecast period. This can be due to its advantages for many application areas, including lobbies, stairs, pantry areas, and waiting rooms, such as long service life, uniform light quality, and a high degree of reliability. However, because of its high energy consumption, fluorescent technology has seen sluggish growth. The LED lights include the dimming function, which helps create ambient lighting for enhanced comfort and supportive illumination for sleep, generating high market demand. In addition, rising government regulations on energy efficiency and annual healthcare facilities inspections have led to increased demand for LED lights.
Global Hospital Lighting Market is segmented by applications into patient wards & ICUs, examination rooms, surgical suites and others. The greater market share in 2018 was accounted for by the patient wards & ICUssegment and this large share can be attributed to the increasing number of hospitals in developing countries such as China and India. This segment's growth is due to technical upgrades and increased demand for hospital LED-centered fixtures.
The development of a large number of hospitals in developing countries and the growing acceptance of LED-based lighting fixtures are the key factors driving the growth of the global market for hospital lighting. Specifically, multi-specialty hospitals have linked infrastructural progress in the hospitality sector to the growth of these solutions. In addition, in order to meet the increasing demand for technologically advanced services from an increasing patient base, medical professionals are taking the required steps to establish a healthier hospital atmosphere through the use of efficient lighting systems to alleviate visitor stress, reduce errors and improve conditions for both staff and patients.
Moreover, increased investment made by government organizations in various healthcare institutions in several countries. In addition, the large amount of capital financing obtained in emerging economies in surgical suites along with growing investment in troffer lights is also linked to market growth. In addition, private sector organizations and government organizations in India are expected to make substantial investments in order to exaggerate the country's healthcare area, which in turn would help the growth of the hospital lighting market.
Owing to the lack of compatibility with the current lighting system infrastructure is a major factor hindering the hospital lighting market is the high installation costs of new LED lights. Also, in order to minimize damage, the complex installation process requires expert technicians and the necessity of drivers for smooth power supply in new lighting devices entails additional costs during the installation phase. Another factor affecting the hospital lighting market is the high repair & maintenance costs associated with lighting devices. Moreover, the high-temperature contact of these lights may lead to product failure, which further hinders the growth of the hospital lighting market.
The Global Hospital lighting market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC and MENA.
Global Hospital Lighting market in North America held the largest market share of XX.X% in the year 2018 due to encourage energy-saving initiatives and to support the modernization of the hospital lighting market, there are sufficient government support and utility funding in the region. Due to the extensive dissemination of creative lighting solutions for implementation in the healthcare sector in Asia-Pacific the market is expected to experience the fastest growth in the global hospital lighting market. There are many hospitals in the Asia-Pacific region that are looking for lighting solutions that help to save energy savings and thereby reduce the running costs of medical facilities. As there are several major players operating in the hospital lighting industry in this area, Europe is another main market for these solutions. Globally, players in the hospital lighting industry harness market development through technical developments and innovations and provide consumers with product differentiation.
Global Hospital Lighting market, which is highly competitive, consists of several major players such as Cree Inc., Zumtobel Group AGhold a substantial market share in the Global Hospital Lighting market. Other players analyzed in this report are OSRAM Licht AG, Acuity Brands Inc., General Electric Company, Signify N.V., Hubbell Incorporated, Herbert Waldmann GmbH & Co. KG, TRILUX GmbH & Co. KG, and Orion Energy Systems Inc. among others.
Global Hospital LightingMarket Segments:
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