The global hospital lights market is forecasted to largely benefit from both developed and developing regions expected to boost the demand in the coming years. North America and Europe could bring in valuable opportunities for vendors considering a vast count of patients being treated for various diseases and robust medical infrastructure. Asia Pacific, on the other hand, could speed up the growth of the market due to rising healthcare expenditure, strong patient base, and rapidly increasing medical tourism.
Transparency Market Research (TMR) foresees the global hospital lights market to be valued at a US$10.0 bn by 2022 while growing at a 6.1% CAGR during the forecast period 2017–2022. In 2017, the market achieved a US$7.4 bn.
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Global Hospital Lights Market: Major Insights
The world hospital lights market is projected to be positively influenced by high focus on patient-oriented services and the rising number of super-specialty and multi-specialty healthcare centers in Canada, the U.S., and the U.K. A human body could require an estimated 1,500 lux lighting for maintaining a normal body cycle, compared to which patients in some hospitals could be exposed to only 105 lux lighting approximately. Hospitals are envisaged to put an increased emphasis on improving lighting standards to create a healthy and optimistic environment for patients. Furthermore, the growing prevalence of chronic diseases requiring inpatient services and aggravating need for multi-specialty hospitals could raise the demand for hospital lights.
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The world hospital lights market is predicted to be segregated as per product, technique, and point of use. In terms of product, troffers could take a leading position in the market with a 38.8% share expected to be pushed under its belt by 2022. However, there could be some prospects birthing from other product type segments, i.e. surface-mounted lights and surgical lamps. By technique, the market is anticipated to see a classification into three markets, viz. fluorescent, light-emitting diode (LED), and halogen hospital lights. As per segmentation by point of use, patient wards and intensive care units (ICUs), operating rooms, and examination rooms could be the prime markets for hospital lights.
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In terms of region, the world hospital lights market is envisaged to be cataloged into Asia Pacific except Japan (APEJ), the Middle East and Africa (MEA), Europe, North America, and Latin America and Japan. Amongst these, the market could witness the dominance of North America while it rises at an expected CAGR of 6.2% during the forecast timeframe. APEJ and Europe could be the other lucrative regions with some massive revenues prognosticated to be achieved until the final forecast year.
Global Hospital Lights Market: Vendor Landscape
The report offers a complete analysis of the vendor landscape and a thorough study of key players operating in the international hospital lights market. Companies such as Acuity Brands, Inc., Cree, Inc., Drägerwerk AG & Co. KGaA, Eaton Corp. Plc, General Electric Co., Herbert Waldmann GmbH & Co. Kg, Hill-Rom Holdings, Inc., Hubbell, Inc., KLS Martin GmbH + Co. KG, Koninklijke Philips N.V., Zumtobel Group AG, and Trilux GmbH & Co. Kg could secure a strong status in the market.