Market Highlights
Global Surgical Lights Market is estimated to be valued at USD 929.43 Million and is expected to register a CAGR of 5.30% by 2025. The surgical light market is growing at a very steady pace. Some of the factors that are pushing the growth of the market are high adoption of the LED technology in medical lighting, advancements in hospital operating rooms, an increase in the number of hybrid operation theatres (OTs) all across the world, and an increasing number of surgical procedures.
The major players in the market are also involved in strategic ventures to capture maximum market space. For instance, in April 2019, Integra LifeSciences introduced new Codman specialty surgical products, including Integra Duo, LED surgical headlight. With the addition of this product, the company aims to expand its product portfolio. Thus, such strategies followed by prominent players are expected to fuel the market growth during the assessment period.
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Segment Analysis
The Global Surgical Lights Market has been segmented on the basis of Type, Technology, Application, and End User. The market, based on type, has been segmented into surgical lights and examination lights. The market, based on surgical lights, has been further segmented into ceiling mounted, mobile surgical lights, surgical headlights, and wall-mounted. The market, based on examination lights, has been further segmented into general exam light, endoscope light vein light, and medical penlight. The market, on the basis of technology, has been divided into LED and halogen. The global surgical lights market, based on application, has been segmented into surgical suites, endoscopy procedures, and dental procedures. The global surgical lights market, by end-user, has been categorized as hospital operating rooms, ambulatory surgical centers, procedure rooms.
Regional Analysis
Geographically, the global surgical lights market has been segmented into the Americas, Europe, Asia-Pacific, and the Middle East and Africa. As per MRFR analysis, the Americas was the largest market for surgical lights in 2018 and is expected to remain dominant during the review period. The rising demand for high-quality surgical lighting systems, the development of new technologies for operating rooms, and the concentration of key players in the market are also boosting the market growth in the American region.
Europe accounted for a significant market share and is projected to be the second-largest market during the forecast period. An increasing number of specialty care services for various surgical procedures and increasing demand for technologically advanced healthcare solutions for diagnosis and treatment for diseases fuel the market growth.
The market in Asia-Pacific is expected to register a significant growth rate during the forecast period. The majority of the companies in Asia-Pacific are committed to investing in research and development of surgical light treatments which will ultimately boost the growth of the market. Also, the presence of major players in this region, such as Mitsubishi Electric Corporation (Japan), and Sumitomo Heavy Industries, Ltd (Japan), is contributing substantially to the growth of the surgical lights market in the Asian region.
The Middle East and Africa surgical lights market is growing at a steady rate. Several companies are investing in the Middle Eastern and African countries to expand their position in the surgical lights market. For instance, In February 2017, S.I.M.E.O.N. Medical GmbH & Co. KG (Germany) founded the subsidiary S.I.M.E.O.N. Medical MEA SAL in Beirut, Lebanon, to meet the demands of a rapidly growing patient population in the Middle East.
Key Players
Market Research Future (MRFR) recognizes KONINKLIJKE PHILIPS N.V. (Netherlands), A-dec Inc. (US), CV Medical (US), Herbert Waldmann GmbH & Co. KG (Germany), STERIS plc (Ireland), Hill-Rom Services Inc. (US), Integra LifeSciences Corporation (Israel), S.I.M.E.O.N. Medical GmbH & Co. KG (Germany), Getinge AB (Sweden), Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China), Skytron, LLC (US), Stryker (US), Technomed India (India), Sunnex Group (Sweden), and BihlerMED (US), as the Key Players in the Global Surgical Lights Market.
Key Findings of the Study
The Global Surgical Lights Marketis projected to reach over USD 929.43 Million by 2025 at a 30% CAGR during the review period of 2019 to 2025.
The US held a market share of 34% in 2018. Initiatives of major players are likely to drive the growth of this segment at a steady rate. For instance, in October 2018, Stryker (US) acquired Invuity (US).
Based on type, the surgical lights segment accounted for the largest market share of 69.64% in 2018.
Based on Technology, the LED segment accounted for the largest market share of 94.19% in 2018.
Based on the application, the surgical suites accounted for the largest market share of 55.33% in 2018.
On the basis of end-user, the hospital operating rooms segment accounted for the largest market share of 54.94% in 2018.
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