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What Is The Prospective Growth For The Hospital Lighting Market?
The hospital lighting market size has seen strong growth in recent years, expanding from $8.29 billion in 2024 to an expected $8.78 billion in 2025, displaying a compound annual growth rate (CAGR) of 5.9%. Factors contributing to this growth include energy efficiency initiatives, adoption of regulatory standards, a focus on patient-centric lighting, a reduction in hospital-acquired infections and heightened surgical precision. The hospital lighting market is poised to see continued growth in the forthcoming years, with predictions that it will grow to $11.82 billion by 2029, at a CAGR of 7.7%. This robust growth can be attributed to factors such as research and development efforts, sustainability goals, the integration of smart hospitals, a focus on cost-effectiveness, and infrastructure modernization.
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How Does The Rising Number Of Hospitals Contribute To Market Growth?
As the number of hospitals worldwide continues to increase, so does demand for hospital lighting. Hospitals play a crucial role in the development of a healthcare system, with factors such as external pressures, healthcare system flaws, and deficiencies in the hospital sector driving hospital construction in many parts of the world. In the UK, for instance, healthcare expenditure reportedly reached $354.88 billion (£283 billion) in 2022, a nominal increase of 0.7% compared to spending in 2021, according to the Office for National Statistics. This increase in primary healthcare centers and hospitals is set to amplify the demand for the hospital lighting market.
What Segments Are Highlighted Within The Hospital Lighting Market?
The hospital lighting market report segments the market into:
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, Examination Rooms, Surgical Suites, Other Applications
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Who Are The Major Players In The Hospital Lighting Market?
The market is buoyed by major companies such as Acuity Brands Inc., KLS Martin Group, Eaton Corporation PLC., Hubbell Incorporated, Koninklijke Philips NV, Trilux GmbH & Co KG, Zumtobel Group, General Electric Company, Kenall Manufacturing Company, Brandon Medical Company, Drägerwerk AG & Co KGaA, Signify Holding BV, Osram Licht AG, Orion Energy Systems Inc., Thorn Lighting Ltd., Waldmann GmbH & Co. KG, Skytron LLC, Halma PLC, JVS Technologies Pvt Ltd., and Healthcare Lighting Solutions.
What Trends Are Emerging In The Hospital Lighting Market?
One key trend is the advancement in lighting technology. Market players are focusing on creating innovative lighting solutions offering superior visibility and precision during medical procedures to gain a competitive edge. For instance, in April 2024, Nanchang Micare Medical Equipment Co., Ltd. introduced the Multi-Color Plus Series surgical light, designed to transform surgical lighting through advanced multi-color technology.
What Regions Are Dominating The Hospital Lighting Market?
In 2024, North America was the largest region in the hospital lighting market, followed closely by Europe. The market report covers regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Hospital Lighting Market Report 2025 Offer?
Hospital lighting refers to the lighting used in hospitals to achieve a practical or aesthetic effect, playing an essential role in healthcare treatments and patient care. The Hospital Lighting Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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