DUBLIN--(BUSINESS WIRE)--The "Hospital Lighting System Market by Product - Global Market Size, Share, Development, Growth, and Demand Forecast, 2013-2023" report has been added to ResearchAndMarkets.com's offering.
Global hospital lighting system market has been witnessing considerable growth, mainly due to the factors, such as growing demand for surgical lighting in hybrid operating rooms and need for energy efficient lighting systems.
The various types of products available in the market are surface mounted, recessed, wall mounted, hanging, and other lighting systems including emergency lights, exit lights and step lights. Out of these, the recessed lights market is expected to fuel high growth of over 7%, during the forecast period. This can be attributed due to increasing adoption of recessed troffers, and recessed downlights. Growth in this segment will be driven by increasing adoption of light emitting diode (LED)-based recessed downlights in operating rooms, and LED-based recessed troffers in diagnostic and imaging rooms.
LED, fluorescent, incandescent, and induction are the technologies involved in the hospital lighting system market. Due to high energy efficiency and durability, LED technology held the largest share, with over 39% contribution in the global market, in 2017, followed by induction lighting technology.
During the forecast period, the hospital lighting system market is projected to witness the fastest growth in APAC, at a CAGR of 7.7%. Rising urban population in India, and rising public and private investments in hospital lighting system particularly in China, would drive the demand for healthcare institutions across APAC countries. The governments in several APAC countries have started several initiatives for energy efficient lighting, which would boost the demand for hospital lighting systems in various healthcare institutions in the region.
Globally, hospital infrastructure is under upgradation both in terms of technology adoption and expansion. This is due to the increasing patient base, growing geriatric population, and increasing prevalence of chronic diseases. Additionally, rising number of hospitals and other healthcare settings are also driving the demand for hospital lighting systems, globally. According to the American Hospital Association (AHA), there were around 5,534 hospitals in the U.S. in 2016.
Furthermore, with the increasing energy consumption in hospitals and consequently rising government initiatives to improve energy efficiency, many hospitals are opting for cost effective lighting technologies, to achieve high energy savings and reduce hospital operation and maintenance cost. Such developments are expected to spur the demand for cost effective lighting technologies in the global market.
By smart lighting solution, it is easier to fine-tune lighting according to the need of individual patients. Hospitals provide dim light from beds to recovering patients to feel them better. Also, by using wireless or wired connectivity with sensors installed in lighting fixtures, LED technology can provide a continuous stream of data from the hospital. Wireless technology has numerous advantages over traditional lighting systems, which acts as growth opportunity for the players in the global market.
Hospital lighting system market is consolidated with top three players, including Signify N.V., Acuity Brands Inc., and Osram Licht AG. The major players are investing huge capital to bring advanced technology with improved lumens per watt along with high energy efficiency and in a cost-effective manner.
Market Dynamics
Trends
- Growing Demand for Surgical Lighting in Hybrid Operating Rooms
- Adoption of Solid State Lighting in Hospitals
- Growing Focus Toward Energy Efficient Lighting in Government Hospitals
Drivers
- Increasing Number of Healthcare Institutions
- Growing Initiatives to Improve Energy Efficiency in Hospitals
- Rising Inclination Towards Energy Efficient Lighting Systems
Restraints
- High Implementation Cost of Hospital Lighting Systems
- Safety Issues Related with Hospital Lighting Systems
Opportunities
- Recent Concerns Toward Carbon Dioxide Emissions
- Adoption of Smart Lighting in Hospitals
Companies Profiled
- Cree Inc.
- Zumtobel Group AG
- OSRAM Licht AG
- Acuity Brands Inc.
- General Electric Company
- Signify N.V.
- Hubbell Incorporated
- Herbert Waldmann GmbH & Co. KG
- TRILUX GmbH & Co. KG
- Orion Energy Systems Inc.
For more information about this report visit https://www.researchandmarkets.com/research/2fgtnh/global_hospital?w=4
