As per our report, the size of the global hospital lighting market is expected to grow with a CAGR of 6.3% and will reach USD 10.25 billion by 2025 from USD 7.55 billion in 2020.
At the Global level, improving the infrastructure of Hospitals is a vital factor for suitable healthcare services. Lighting plays an essential role in the hospital infrastructure to improvise the work of doctors as well as the medical staff. Appropriate lighting services and innovation in technology for hospital lighting services are seeing significant changes in the emerging economies since last few years. In hospitals, efficient lighting source is very much essential in the different types of wards such as examination rooms, surgical suits, external areas of the hospital, and ICU wards.
MARKET DRIVERS
The growing number of hospitals, rising adoption of LED light products and various government initiatives are majorly driving the global hospital lighting market growth.
Rapidly growing several multi-speciality hospitals and their infrastructure amenities are providing a significant boost to the market growth. As per the American Hospital Association (AHA), in 2019, there were around 6,146 hospitals in the United States, which was 5,198 in 2018. The growth in the number of hospitals is directly influencing the global hospital lighting market growth. Currently, the consumption rate of LED lighting products in the Hospital lighting industry is very high. It is estimated to continue the growing trend in the years to come, which is expected to create substantial growth scope to the market.
Government’s initiatives and regulations to support energy-efficient and high-quality lighting in the hospitals is further expected to drive the market growth. In the Hospital Lighting infrastructure, lighting-centric lighting provides a better experience to the patients from recovering quick, cardigan rhythm cycling, and better sleep experience.
Globally, Asia Pacific holds the majority of the population. Rapidly growing population in this region is increasing the need for more number of hospitals, which is expected to provide growth opportunities for the hospital lighting market in this region.
MARKET RESTRAINTS
The high cost of lighting products is a major factor restraining the hospital lighting market growth. Additionally, factors like the availability of alternative products at lower prices highly consolidated structure of the market are further inhibiting the market growth.
The long life expectancy of LED lighting products is a crucial challenge to the manufacturing companies since the replacement of products in the hospitals takes a long time. Skilled technicians are required for lighting infrastructure to avoid damages, and high maintenance cost associated with the industry are further limiting the hospital lighting market growth.
REPORT COVERAGE
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REPORT METRIC |
DETAILS |
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Market Size Available |
2019 to 2025 |
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Base Year |
2019 |
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Forecast Period |
2020 to 2025 |
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Segments Covered |
By Technology, Application, Product and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
This research report on the Global Hospital Lighting Market segmented and sub-segmented based on the technology, application, product and region.
Hospital Lighting Market – By Technology
Based on Technology, the LED segment is predicted to hold the largest share during the forecast period. This segment’s growth is attributed due to the increasing usage of LED lights across the globe. The LED segment is more vital as it is energy-saving and has got long product endurance. Also, rising support from the government organizations is surging the demand of the market.
Following LED, fluorescent lights segment is estimated to grow at a healthy rate during the forecast period. An increasing number of surgeries with increasing incidences of chronic diseases is levelling up the demand of the market.
Hospital Lighting Market – By Application
Based on application, in 2019, 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. The patient wards and ICUs segment is expected to continue its growth trend and showcase a CAGR of 5.5% due to the enhancement of technology and shoots up stipulation for LED those are fixed in the hospitals.
Hospital Lighting Market – By Product
Based on product type, Troffers segment is likely to grow with a CAGR of 6.3% during the forecast period. Factors such as increasing population and increase in the trend for LED-based troffers among the domain of the hospitality are actively supporting this segment to lead. Surgical lamps are positioned second in leading significant shares of the market.
Hospital Lighting Market – By Region
Regionally, the North American region occupied the top position among all the areas in terms of market share, because of the large well-established hospitals in the region. The North American market is attributed due to the growing scale of hospitals and clinics. Besides, growing demand to improve infrastructure with latest technologies in developed and developing countries is propelling the need of the market.
Europe region stands second in ruling the highest shares of the global hospital lighting market during the period by owing to increasing research and development activities. The espousal of homocentric lighting in the healthcare domain is sustaining the growth in the European countries.
Asia-Pacific region is likely to have an observed growth rate during the period. In countries like India and China, the growing number of hospitals in appearing countries and rising investments on the medical management systems are the factors responsible for the growth. With the increasing healthcare services in emerging countries like India and China, the Asia-Pacific region provides mostly untapped market potential for the future.
The Latin America region projected to display steady growth during the forecast period. Increasing awareness and growing usage of LED technology that can be used in the broader range of applications are surging the demand of the market.
The Middle East & Africa region reveals sluggish growth in the forthcoming years. It is due to inadequate funds and investments from the governments and other private organizations responsible for the market growth in this region.
TOP COMPANIES IN THE MARKET
The key market players leading the global hospital lighting market profiled in this report are 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.
RECENT MARKET DEVELOPMENTS
In May 2020, Healthe, a company which manufactures UV Sanitization and Circadian Lighting products built a new technology-based UV-LED troffer light and launched it for preventing the spread COVID-19. As per the source, this lighting will help to remove all bacteria and viruses from the body and sanitize. It includes three types of tools such as cleanse downlight radiation, purify portal and air sanitizing tools with troffer service.
In May 2020, the University of St. Andrews and Ninewells Hospital of the UK currently researched on Far-UVC-LED lightings can be used for air disinfection in public places. The software will monitor this UV-LED light.
In May 2020, the Ferdinand-Braun-Institute, (FBH) German-based institute and Berlin Based TechnischeUniversitat developed new UV light-emitting UV-LED lighting products for a safe skin test. It will be used for the Disinfection in the hospitals.
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Technology
5.1.1 Introduction
5.1.2 Renewable Energy
5.1.3 LED
5.1.4 Flourescent Lights
5.1.5 Y-o-Y Growth Analysis, By Technology
5.1.6 Market Attractiveness Analysis, By Technology
5.1.7 Market Share Analysis, By Technology
5.2 Application
5.2.1 Introduction
5.2.2 Surgical Suites
5.2.3 Patient wards & ICUs
5.2.4 Examination Rooms
5.2.5 Y-o-Y Growth Analysis, By Application
5.2.6 Market Attractiveness Analysis, By Application
5.2.7 Market Share Analysis, By Application
5.3 Product
5.3.1 Introduction
5.3.2 Surface Lamps
5.3.3 Troffers
5.3.4 Surgical Lamps
5.3.5 Y-o-Y Growth Analysis, By Product
5.3.6 Market Attractiveness Analysis, By Product
5.3.7 Market Share Analysis, By Product
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Technology
6.1.3.3 By Application
6.1.3.4 By Product
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Technology
6.1.4.3 By Application
6.1.4.4 By Product
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Technology
6.1.5.3 By Application
6.1.5.4 By Product
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 General Electric Company
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Eaton Corporation PLC
8.3 Cree Inc.
8.4 Zumtobel Group AG
8.5 KLS Martin GmbH + Co. KG
8.6 Koninklijke Philips N.V.
8.7 Herbert Waldmann GmbH & Co. KG
8.8 Trilux GmbH & Co. Kg
8.9 Hill-Rom Holdings Inc.
8.10 Acuity Brands
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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