The Hospital Lights Global Market Report 2023 by The Business Research Company, provides hospital lights market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Hospital Lights Global Market Report 2023, the market size is expected to grow from$8.15 billion in 2022 to $8.90 billion in 2023 at a compound annual growth rate (CAGR) of 9.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The hospital lights market size is expected to grow to $12.56 billion in 2027 at a CAGR of 9.0%.
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.
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The hospital lights market 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
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 report table of contents includes:
1. Executive Summary
2. Hospital Lights Market Characteristics
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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26. Africa Hospital Lights Market
27. Hospital Lights Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Hospital Lights Market
29. Hospital Lights Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
- Koninklijke Philips N.V
- The Zumtobel Group
- Wolfspeed Inc
- Signify N.V
- Acuity Brands
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