Global hospital lights market, hospital lights market size, hospital lights market share, hospital lights market growth, hospital lights market trends, hospital lights market analysis, hospital lights market forecast, hospital lights market, hospital lights market overview, hospital lights market segmentation
The hospital lights global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Hospital Lights Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The hospital lights market size has grown strongly in recent years. It will grow from $8.89 billion in 2023 to $9.71 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period can be attributed to focus on patient comfort, energy efficiency requirements, surgical precision, regulatory compliance, patient-centric lighting, increased healthcare spending, architectural and aesthetic considerations.
The hospital lights market size is expected to see strong growth in the next few years. It will grow to $13.97 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The growth in the forecast period can be attributed to rise in healthcare facilities, enhanced control systems, sustainable lighting practices, lighting design for behavioral health spaces, customization for different hospital spaces, compliance with lighting standards. Major trends in the forecast period include led technology dominance, color temperature adjustability, integration of smart lighting systems, increased adoption of indirect lighting, wireless controls and iot integration.
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Scope Of Hospital Lights Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Hospital Lights Market Overview
Market Drivers –
The growing number of hospitals is expected to propel the growth of the hospital lights market. Hospitals are institutions that are designed, staffed, and outfitted for illness diagnosis, medical and surgical treatment of the ill and injured, and housing while undergoing these procedures. Hospital lights provide enough light for the medical staff, are used as a signalling device during any event and prevent any disturbance to the patients during sleep. For instance, in 2022, according to a survey conducted by American Hospital Association, a US-based healthcare industry trade group, the total number of all U.S. Hospitals is 6,093 and the number of U.S. community hospitals is 5,139. Therefore, the growing number of hospitals is driving the growth of the hospital lights market.
Market Trends –
Product innovation is a key trend in the hospital lights market. Major players in the hospital lighting industry are concentrating on creating innovative product solutions to improve their market share. For instance, in October 2021, Signify, a Netherlands-based company operating in hospital light, launched the Philips UV-C disinfection box with a UV-C light source for small objects. This product uses UV-C technology which has been proven by scientific studies to disinfect and can inactivate SARS-CoV-2 (the virus that will cause COVID-19 disease) on surfaces by more than 99% to below detectable levels, providing an easy and effective way to disinfect items like keys, cell phones, toys, and other household items.
The hospital lights market covered in this report is segmented –
1) By Product: Troffers, Surface-Mounted Lights, Surgical Lamps, Other Products
2) By Technology: Fluorescent, LED, Renewable Energy, Other Technologies
3) By Application: Patient Wards And ICUs, Surgical Suites, Examination Rooms, Other Applications
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Regional Insights –
North America was the largest region in the hospital lights market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hospital lights market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the hospital lights market report are Koninklijke Philips N.V., The Zumtobel Group, Wolfspeed Inc., Signify N.V., Acuity Brands Inc., Steris plc, Skytron LLC, Integra LifeSciences Corporation, S.I.M.E.O.N. Medical GmbH & Co. KG, Getinge AB, General Electric Company, Hubbell Incorporated, KLS Martin Group, Brandon Medical Co. Ltd., Best Lighting Products Inc., Herman Miller, TLV Co. Ltd., ETS-Lindgren Ltd., Kenall Manufacturing, Planmeca OY, Shenzhen Comen Medical Instruments Co. Ltd., Medifa, Hill-Rom Holdings Inc., Eaton Corporation, Osram Licht AG, Cooper Lighting Solutions, Dialight plc, LEDVANCE GmbH, McKesson Corporation, Stryker Corporation
1. Executive Summary
2. Hospital Lights Market Report Structure
3. Hospital Lights Market Trends And Strategies
4. Hospital Lights Market – Macro Economic Scenario
5. Hospital Lights Market Size And Growth
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27. Hospital Lights Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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