Various lighting products including surgical lights, examination lights, and troffers are installed in operating rooms, emergency rooms, and patient wards to ensure accuracy and safety in healthcare settings. Growing investments in healthcare infrastructure, particularly in developing nations are propelling the demand for specialized lighting solutions that cater to the lighting requirements of different medical facilities.
The global Hospital Lighting Market is estimated to be valued at US$ 16.79 Mn in 2024 and is expected to exhibit a CAGR of 5.4% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Introduction of LED lighting is gaining traction in the hospital lighting market. LED offers various advantages over traditional lighting such as energy efficiency, longer lifespan, and directional lighting. They also produce minimal heat emission making them an ideal solution for lighting in operating rooms. With supportive government policies and rebate programs for energy-efficient lighting, adoption of LED lighting is growing substantially. Healthcare facilities are increasingly replacing their conventional lighting with LED lights to reduce overall energy consumption and maintenance costs.
Segment Analysis
The Global Hospital Lighting Market Size is dominated by the LED lighting segment. LED lights are highly energy efficient, have a long lifespan of around 50,000 hours and offer enhanced illumination when compared to conventional lighting sources. They emit very less heat and are more sustainable and eco-friendly. Moreover, they provide better lighting quality for undertaking surgeries and medical examination. Hospitals are increasingly opting for LED lights to optimize energy consumption and reduce maintenance and replacement costs in the long run.
Key Takeaways
The global hospital lighting market is expected to witness high growth over the forecast period. The growth can be attributed to rising healthcare infrastructure development and expansion of existing hospitals across major regions. The global Hospital Lighting Market is estimated to be valued at US$ 16.79 Mn in 2024 and is expected to exhibit a CAGR of 5.4% over the forecast period 2024 to 2031.
Regional analysis:
Asia Pacific region is poised to dominate the global hospital lighting market over the next few years. Growing government focus on upgrading healthcare infrastructure, rising per capita income and increasing affordability are fueling hospital construction projects in various APAC countries. China is anticipated to spearhead revenue generation in the Asia Pacific market owing to presence of large healthcare vertical and new strategic initiatives by the government to boost rural healthcare access.
Key players:
Key players operating in the hospital lighting market are Bacardi and Company Ltd., Diageo PLC, Pernod Ricard SA, Constellation Brands, Inc., and Suntory Holdings Limited. Bacardi and Company Ltd. provides energy efficient and long lasting LED lighting solutions specifically designed for hospitals. Diageo PLC offers lighting controls and automation products to enhance lighting management in healthcare facilities.
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