Hospital Lighting Market: Global Industry Analysis and Forecast (2022-2029) by Product, Technology, Application and Region

Hospital Lighting Market size was valued at US$ 6.59 Billion in 2021 and the total Hospital Lighting revenue is expected to grow at 6.3% through 2022 to 2029, reaching nearly US$ 10.75 Billion.
Hospital Lighting Market Overview:
Hospital lighting is characterized as an essential component of hospital structure and administration that aids in-patient rehabilitation and the fulfillment of healthcare and therapeutic outcomes. It also stresses the patient-doctor connection, financial control, and hospital operation management. Lighting is seen to play an important part in the infrastructure of the healthcare domain since it is commonly used in ICUs, wards, operating rooms, and other hospital settings. Lighting producers are rapidly creating technologies that offer efficiency and cheap cost.

Many prominent hospitals are focusing on lighting conditions to improve user experience since it has an impact on the human body both medically and psychologically. This market has strong development potential due to the fast upgrading of healthcare infrastructure and the increased demand for technologically improved healthcare facilities. Furthermore, government financing for improved hospital infrastructure, including the use of LED technology for energy-saving and efficient lighting, is boosting the market growth. However, the device's high cost, as well as product recalls owing to technical failure, are some of the reasons limiting the growth of the hospital lighting industry. The continuously expanding and developing healthcare facilities are the primary elements driving market expansion. Surgical lamps, troffers, wraparounds, and surface-mounted lights are some of the lighting devices that are frequently used in hospitals. In all of these goods, incandescent, emitting diode, and fluorescent technologies are quickly being utilized, bolstering the expansion of the worldwide hospital lighting market.

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Global Hospital Lighting Market Dynamics:
The number of hospitals is increasing all around the world, but it is especially noticeable in growing economies such as China and India. The significant increase in the number of hospitals in this region may be attributable mostly to these nations' rapidly growing populations and rising healthcare expenditures. The growing number of hospitals in emerging economies will lead to an increase in the number of hospital wards and operating rooms, driving development in the hospital lighting industry. The creation of a high number of hospitals in emerging countries, as well as the growing popularity of LED-based lighting fixtures, are the primary drivers driving the growth of the global hospital lighting market.

The emergence of these solutions has been related to the development of infrastructure in the hospitality industry, notably multispecialty hospitals. The popularity of a wide range of lighting systems in a variety of healthcare applications is accentuating the use of sophisticated lighting systems. Increased use of LED-based lighting fixtures, government initiatives to improve energy efficiency in hospitals, and the advantages of LED over traditional lighting are expected to propel the hospital lighting market forward during the projected period of 2022-2029.

Growing improvements in lighting technology, on the other hand, will further increase different prospects that will contribute to the expansion of the hospital lighting market over the forecast period. High product costs and a highly concentrated industry are projected to stymie the growth of the hospital lighting market over the forecast period (2022-2029).
Global Hospital Lighting Market Segment Analysis:
By Product: the market is segmented into troffers, surface-mounted lights, surgical lamps, and other products. The surface-mounted lights segment is expected to account for the largest share of the market in the year 2029. Growth in this segment is driven by a factor such as the increasing adoption of LED-based lights in hospitals globally.



By Technology: The hospital lighting market is sub-segmented into fluorescent lights, LED lights, renewables, and others. The benefits of LED technology over traditional lighting systems are also predicted to promote the expansion of the hospital lighting industry. Lighting is a key component of hospital energy usage, accounting for more than 10% of total energy use, according to the US Department of Energy. As a result, there is an increasing global demand for green technologies, which is expected to fuel the growth of the LED technology segment in the hospital lighting market because they have a longer life, improved efficiency, are eco-friendly, durable, and provide more evenly distributed light than conventional lighting systems. The use of LED in intelligent lighting systems and solutions, for example, is projected to contribute to the growth of the hospital lighting industry.

By Application: The hospital lighting market is sub-segmented into patient wards and ICUs, examination rooms, surgery suites, and other applications. The patient wards & ICUs category is estimated to account for the largest share of the market in 2029. This high proportion might be attributable to the growing number of hospitals in developing nations such as India and China.

Global Hospital Lighting Market Regional Insights:
North America is predicted to have the biggest market share, followed by Europe. North America will continue to lead the market during the projected period due to abundant government assistance and utility financing to encourage energy-saving initiatives and support the hospital lighting industry's modernization.

However, the Asian market is predicted to develop at the fastest rate, with expansion focusing on China, Japan, and India. Due to the widespread adoption of novel lighting solutions for use in the healthcare domain, Asia-Pacific is predicted to have the quickest development in the worldwide hospital lighting market. Several hospitals in Asia-Pacific are looking for lighting solutions that will help them save energy and hence lower the operational costs of their medical facilities.

Europe is another important market for these solutions since it is home to numerous big manufacturers in the hospital lighting business. Globally, hospital lighting market companies are exploiting market growth by technical advances and innovations, as well as giving product differentiation to customers.

The objective of the report is to present a comprehensive analysis of the global Hospital Lighting market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the global Hospital Lighting market dynamics, structure by analyzing the market segments and projecting the global Hospital Lighting market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Hospital Lighting market make the report investor’s guide.
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Global Hospital Lighting Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 6.59 Billion.


Forecast Period 2022 to 2029 CAGR:
6.3 %
Market Size in 2029:
US $ 10.75 Billion.


 Segments Covered:
by Product
• Surface-mounted Lights
• Troffers
• Surgical Lamps
• Other


by Technology
• Fluorescent Lights
• LED Lights
• Renewables
• Other


by Application
• Patient Wards & ICUs
• Examination Rooms
• Surgical Suites
• Other



Global Hospital Lighting Market, by Region
• North America
• Europe
• Asia Pacific
• The Middle East and Africa
• South America
Global Hospital Lighting Market Key Players
• General Electric Company
• Acuity Brands Lighting Inc.
• Cree IncCree Inc.
• Eaton Corporation PLC
• Hubbell Incorporated
• Koninklijke Philips N.V.
• Zumtobel Group AG
• Herbert Waldmann GmbH & Co. KG
• KLS Martin Group
• Trilux Lighting Ltd
• Dragеrwеrk АG & Со
• КGаА
• Ніll-Rоm Ноldіngѕ
• Zumtоbеl Grоuр АG
• Тrіluх GmbН & Со. Кg

FAQs:

1. Which region has the largest share in Global Hospital Lighting Market?
Ans: North America region holds the highest share in 2021.

2. What is the growth rate of Global Hospital Lighting Market?
Ans: The Global Hospital Lighting Market is growing at a CAGR of 6.3% during forecasting period 2022-2029.

3. What is scope of the Global Hospital Lighting market report?
Ans: Global Hospital Lighting Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Hospital Lighting market?
Ans: The important key players in the Global Hospital Lighting Market are – General Electric Company, Acuity Brands Lighting Inc., Cree Inc., Eaton Corporation PLC, Hubbell Incorporated, Koninklijke Philips N.V., Zumtobel Group AG, Herbert Waldmann GmbH & Co. KG, KLS Martin Group, Trilux Lighting Ltd, Dragеrwеrk АG & Со, КGаА, Ніll-Rоm Ноldіngѕ, Zumtоbеl Grоuр АG, Тrіluх GmbН & Со. Кg

5. What is the study period of this market?
Ans: The Global Hospital Lighting Market is studied from 2021 to 2029.