Hospital Lighting Market By Technology, By Application, Product, By Region – Global Industry Analysis, Size, Share, Growth, Trends, And Forecasts (2018–2023)
HYDERABAD, TELANGANA, INDIA, November 30, 2018 /EINPresswire.com/ — Well-designed patient room lighting plays an important role for the diagnosis of the patient and improve patient outcomes. Ideal hospital lighting systems give patients more control of their environment while helping caregivers do their jobs more effectively. Different types of lighting devices include hospital bed lighting, task lighting and general ambient lighting. Hospital Lights are the kind of lights used in hospital rooms like patient wards, Intensive Care Units (ICUs) and surgical suites. The lighting in hospitals is different to lighting in general, as the hospital lighting is required to be of just sufficient intensity and brightness, not less and not more.
The Hospital Lighting Market has been valued at USD 7.55 billion in 2018 and is projected to reach approximately USD 10.25 billion by 2023, at a CAGR of 6.3%.
Medical facilities gain a healthier diagnosis with a dose of LED lighting. This technology delivers clean, bright light and accurate color to assist diagnosis and treatment and create a tranquil environment. Outside, these devices provide parking structures and exterior grounds enhanced safety and security. They require virtually no maintenance for decades, cut energy costs by as much as 80 %, and eliminate the toxic wastes of fluorescents and CFLs.
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The modernization of hospitals in developed regions like Europe and North America, increasing preference toward LED lights from the conventional fluorescent lights are the significant drivers behind the high estimated growth of the industry. Rapidly advancing science and technology enables the manufacturers to prepare hospital lights with tailored requirements for specific purposes. Others factors include enhanced shelf life of merchandise, increase in investments in healthcare sector, growing number of patients and rise in global aging population is driving the market.
However unstable reimbursement regulations, high cost of devices and economic instability are the major factors hindering the growth of the market.
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The full report provides the complete information about the Hospital Lighting Market and describes the overall market size, share, trends and future analysis. It also provides the in-depth knowledge by explaining the market based on the products, technology, application and regional distribution.
Based on the Technology, the market is divided into Renewable energy, LED and Fluorescent lights. LED segment of the market is expected to lead the market till 2023, owing to the increased usage of LED lights globally. As per Application, the market is classified as the following – Surgical suites, Patient wards & ICUs and Examination Rooms. In 2018, the market was dominated by the Patient wards & ICUs segment. Regulations necessitating a better level of infrastructure in ICUs around the world is the key reason behind this market trend. According to product, the market is categorized into Surface Lamps, Troffers, and Surgical Lamps. Troffers segment of the market is to lead the market in the forecast period, according to the market share.
Under region, the global market is analyzed as the following regions – North America, Latin America, Europe, Asia Pacific and Middle East and Africa. North America region occupied the top position among all the regions in terms of market share, because of the extensive well-established hospitals in the region. The increasing healthcare services in emerging countries like India and China, the Asia-Pacific region provides largely untapped market potential for the future.
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The report also offers the information about the competitive landscape of the region, which include key market players in present day like General Electric Company, Eaton Corporation PLC, Cree Inc., Zumtobel Group AG, KLS Martin GmbH + Co. KG, Koninklijke Philips N.V., Herbert Waldmann GmbH & Co. KG, Trilux GmbH & Co. Kg, Hill-Rom Holdings Inc. and Acuity Brands.
Scope of the report:
• Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
• Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
• Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
• Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
• Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
• A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
• Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
• An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
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Source: EIN Presswire