Medical Lighting Technologies Market Outlook 2024-2033: Trends and Projections

 

The medical lighting technologies 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.

Medical Lighting Technologies 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 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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Scope Of Medical Lighting Technologies 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.

Medical Lighting Technologies Market Overview

Market Drivers –
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.

Market Trends –
Technological advancements are a key trend gaining popularity in the medical lighting technologies market. Major companies operating in the medical lighting technology market are focused on developing new technological solutions to gain a competitive edge in the market. For instance, in April 2021, Axis Lighting a Canada based a manufacturer of high-performance commercial lighting solutions and BIOS Lighting is a US-based company that specializes in developing and manufacturing lighting solutions that are designed to promote human health and well-being. a have announced the launch of Balanced Care, a new family of healthcare lighting luminaires that feature BIOS Sky Blue circadian technology. BalancedCare is a healthcare lighting brand that is designed for patient rooms, MRI suites, patient restrooms, nurses’ stations, corridors, and common areas. The BalancedCare MRI Series is built around modern LED technology to provide superior lighting for MRI suites. The effort intends to address the unique issues of healthcare facility lighting while also promoting patient welfare.

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

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Regional Insights –
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.

Key Companies –
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.

Table of Contents
1. Executive Summary
2. Medical Lighting Technologies Market Report Structure
3. Medical Lighting Technologies Market Trends And Strategies
4. Medical Lighting Technologies Market – Macro Economic Scenario
5. Medical Lighting Technologies Market Size And Growth
…..
27. Medical Lighting Technologies Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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