New York, April 05, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Hospital Lights Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Troffer, Surface-Mounted Lights, Surgical Lamps, and Others), Technology (Fluorescent Technology, LED Technology, and Others), and Application (Patient Wards and ICUs, Surgical Suites, Examination Rooms, and Others)”, the global hospital lights market growth is driven by the increasing usage of LED-based lighting fixtures, government initiatives to improve energy efficiency in hospitals, the advantages of LED over conventional lighting, increased government support for the adoption of energy efficiency lighting solutions in hospitals has led in a rise in the use of LED-based lighting products over traditional lighting, growing developments in lighting technology.
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| Report Coverage | Details |
| Market Size Value in | US$ 5.43 Billion in 2021 |
| Market Size Value by | US$ 9.76 Billion by 2028 |
| Growth rate | CAGR of 8.7% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
| No. of Pages | 164 |
| No. Tables | 83 |
| No. of Charts & Figures | 82 |
| Historical data available | Yes |
| Segments covered | Product Type, Technology, and Application |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Hospital Lights Market: Competitive Landscape and Key Developments
Acuity Brands, Dragerwerk, Hubbell Incorporated, Signify Holdings, and BFW Inc are among the key players profiled in this report on the hospital lights market. Several other market players were also analyzed to get a holistic view of the market and its ecosystem.
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In 2021, Zumtobel collaborated with architects and lighting designers Giovanni Traverso and Paola Vighy. The collaboration was aimed at combining artificial and natural light for offering balanced lighting solutions.
In 2021, Cree Lighting and Lutron Electronics collaborated to offer a wide variety of lighting products. As per this arrangement.
An increase in the development of new hospitals is creating lucrative opportunities for the hospital lights market players. Hospital infrastructure is a critical part of the healthcare delivery, as it has a significant impact on quality of medical services. Further, governments across the world have taken measures to encourage the healthcare sector by developing new hospitals to meet the elevating demand for hospitals, especially during the pandemic crisis. The government of Saudi Arabia contributed US$ 28.8 billion to health and social welfare in 2014, including money for 11 new hospitals, 11 medical facilities, and 2 medical complexes, in addition to the 132 hospitals and healthcare centers already existing in the country. Moreover, according to a new Gulf Cooperation Council (GCC) report, Saudi Arabia has plans to invest US$ 66.67 billion on healthcare infrastructure by 2030; the country is aiming to increase the participation of the private sector from 40% to 66%. Further, health spending is expected to rise by US$ 45.9 billion, totaling US$160 billion, in 2050, which is likely to push life expectancy in the Kingdom from 76.4 to 81.8 years. Thus, increasing government initiatives for enhancing hospital infrastructure is contributing to the flourishment of the hospital lights market.
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In the initial stage of the COVID-19 pandemic, hospital light production was discontinued abruptly across the world due to the shutdown of social and commercial activities, and various restrictions enacted by government on transportation in 2020. Moreover, various hospital construction projects were delayed due to the pandemic. For example, in APAC, the construction of Indira Gandhi Hospital, Dwarka, India, came to halt during the pandemic. Moreover, in Europe, government funding allocated for the healthcare sector was redirected to frontline NHS issues, such as PPE availability and staffing, which resulted in reduced funds for the building of new health and social care estates in 2020 and 2021. Europe has proposed a series of investment plans in 2021 for hospital infrastructure development to improve healthcare access in underdeveloped and developed areas. These plans include Hospitacite Hospital Complex Redevelopment, Lörrach Central Hospital campus Development, Lörrach Central Hospital campus Development, and many more projects. Further, in 2021, the Government of Ontario announced its plans to invest up to US$ 41.8 million in the construction of the new Grey Bruce Health Services Markdale Hospital. Thus, the development of new hospital infrastructure and the renovation of existing hospital facilities are expected to create growth opportunities for the hospital lights market players after the mitigation of the COVID-19 pandemic.
Increasing Demand for High-performance LED Lighting During Surgeries Fuels Hospital Lights Market Growth:
Proper illumination lighting of the surgical area is essential inside the operation theatre to avoid any kind of injury to the patient. High-performance LEDs play an important role in surgical lighting and light-based medical treatment. LED-based surgical lights have emerged as the preferred technology for overhead illumination in hospital operating rooms (ORs) and dental clinics. These high-performance LED lights are generally manufactured according to considering the standard specifications related to requirements such as brightness, homogeneity, color rendering index (CRI), shadow dilution, and correlated color temperature (CCT). Moreover, when compared to typical surgical lighting systems that use halogen or gas-discharge bulbs, high-performance LEDs deliver superior lighting, longer life, and lower power usage compared to typical surgical lighting systems that use halogen or gas-discharge bulbs. Thus, the increased demand for operating rooms in hospitals has resulted in a rise in the number of sophisticated healthcare facilities. This, in turn, will fuel the demand for high-performance LED lighting in surgery applications, thereby and thus rise fueling the hospital lights market growth.
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Hospital Lights Market: Application Overview
Based on application, the hospital lights market is segmented into patient wards and ICUs, surgical suites, examination rooms, and others. The patient wards and ICUs segment led the hospital lights market in 2020. A patient’s ward is a section of a hospital with beds for many people, often with comparable medical needs. There are many visual jobs in hospitals that require special lighting. As a result, lighting should be designed to maximize the efficiency, hygiene, safety, and well-being of medical personnel and patients. Patient wards and ICUs are multifunctional spaces, requiring a flexible lighting design. Lighting plays a crucial role in a patient's recovery progress; proper lighting improves sleep, helps reduce depressing thoughts, and balances the body’s circadian rhythm. In many cases, poor ward lighting may contribute to the prolonged stays of patients in hospitals. The most common lights used in patient wards are LED, FTL, and CFL lamps. The increasing focus of hospital administrations on lighting for improving the patient experience and the rising focus of companies such as CREE Lighting and Acuity Brands Lighting, inc. on providing lighting products suitable for patient wards as well as ICUs are the major factors driving the hospital lights market growth.
Browse Adjoining Reports:
Hospital Lighting Market Forecast to 2028 - Covid-19 Impact and Global Analysis - By Product (Surface-Mounted Lights, Surgical Lamps, Troffers and Others), Technology (LED Technology, Fluorescent Technology, Renewable Energy and Others), Application (Patient Wards & ICUs, Examination Rooms, Surgical Suites and Others) and Geography
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