According to Fortune Business Insights, The global surgical lights market size is expected to showcase an exponential growth by reaching USD 852.8 million by 2027 while exhibiting a CAGR of 4.6% between 2020 and 2027, Increasing Demand for Advanced Healthcare Facilities to Promote Growth
/EIN News/ — Pune, India, June 22, 2022 (GLOBE NEWSWIRE) — The global surgical lights market size is expected to showcase an exponential growth by reaching USD 852.8 million by 2027 while exhibiting a CAGR of 4.6% between 2020 and 2027. The growth is attributable to the increasing demand for advanced healthcare facilities and the increasing technological advancements in surgical lights across the globe. This information is published by Fortune Business Insights, in its latest report, titled, “Surgical Lights Market Size, Share & Industry Analysis, By Technology (LED, and Halogen), By End User (Hospitals & ASC’s, Specialty Clinics, and Others (Procedure Rooms, etc.)) and Regional Forecast, 2020-2027.” The report further mentions that the market stood at USD 596.9 million in 2019 and is likely to gain momentum in the forthcoming years.
Surgical lights or operating lights are generally adopted in hospital operating rooms and several ambulatory surgery centers that provide optimum quality lighting for surgical procedures. There are two types of illuminating lights such as LED and halogen that are widely adopted across several hospitals. They further provide efficient visualization that allows the surgeon to complete various surgeries with high proficiency. Additionally, they are configured on the wall, ceiling, or floor stand as per the illumination requirement in the operation theatre.
- January 2019 – Getinge AB, a Swedish lighting solutions provider, announced the launch of Maquet PowerLED II surgical light. According to the company, the product provides shadow-free and bright illumination that aids in optimum visualization while performing surgeries in an operation theatre.
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Surgical Lights Market Report Scope:
|Forecast Period||2020 to 2027|
|Forecast Period 2020 to 2027 CAGR||4.6%|
|2027 Value Projection||USD 852.8 million|
|Market Size in 2019||USD 596.9 million|
|Historical Data for||2016 to 2018|
|No. of Pages||120|
Increasing Demand for Advanced Healthcare Facilities to Promote Growth
The medical industry is tremendously evolving with the influx of several private players and the growing public-private partnerships. However, there are certain limitations such as prolonged waiting time for availing treatment, several unmet medical needs, and less penetration of medical services in underdeveloped regions. These factors are propelling the demand for advanced healthcare facilities across the globe. Additionally, increasing government funding and favorable policies are expected to aid in the development of healthcare systems across the globe. This is expected to boost the growth of the global surgical lights market during the forecast period.
Increasing Surgical Procedures to Favor Growth
The increasing prevalence of chronic disease and the rising per capita healthcare expenditures are driving the demand for surgical procedures across the globe. The massive increase in surgical procedures such as cardiovascular, dental, and neurological are boosting the adoption of these lights for a longer duration in the operation theatre. For instance, according to the data by Eurostat, in 2017, around 4.7 million cataract surgeries were conducted across several EU member states. The increasing adoption of surgical procedures is expected to contribute to the global surgical lights market growth during the forecast period.
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Gentex Launches Smart Lighting System for Medical Systems
In January 2020, Gentex Corporation, a leading electronic solutions provider, announced the launch of its smart lighting technology in collaboration with Mayo Clinic for several medical applications. The innovative technology consists of a series of ceiling-mounted surgical lights with dynamically adjusting LED arrays and a series of flush that efficiently focuses illumination whenever required. Additionally, the smart system adopts hand gestures and voice commands, along with an integrated machine-vision optical camera to establish the desired lighting zone during a surgery.
What does the Report Include?
The global market for surgical lights report includes a detailed assessment of various drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Additionally, the report provides comprehensive insights into the regional developments of the market, affecting its growth during the forecast period. It includes information sourced from the advice of expert professionals from the industry by our research analysts using several research methodologies. The competitive landscape offers further detailed insights into strategies such as product launches, partnership, merger and acquisition, and collaborations adopted by the companies to maintain market stronghold between 2020 and 2027.
LED Segment to Showcase a Considerable Growth Owing to Increasing Adoption in Healthcare Institutions
The segment LED, based on technology, is expected to experience a significant growth owing to the increasing adoption of LED technology in the healthcare sector. The LED surgical lights are affordable and provide bright illumination during the surgical procedures that are expected to favor the growth of this segment during the forecast period.
Asia-Pacific to Remain Dominant; Rapid Development of Healthcare Infrastructure to Bolster Growth
Among all the regions, Asia-Pacific is expected to remain at the forefront and hold the highest position in the global surgical lights market during the forecast period. This is attributable to the fast-paced development of healthcare infrastructure to cater to the increasing population rate in the region. Additionally, the increasing prevalence of chronic disease is expected to drive the demand for these lights in Asia-Pacific. The market in North America stood at USD 185.0 million in 2019 and is expected to experience a significant growth in the forthcoming years. This is ascribable to factors such as established healthcare infrastructure and the increasing adoption of advanced LED surgical lights in countries such as the U.S. and Canada between 2020 and 2027.
Major Companies Launch Innovative Products to Strengthen Their Product Portfolio
The market is consolidated by the dominance of major players such as Hillrom Services Inc., Getinge AB, and Stryker. This dominance is attributable to a strong brand presence and the introduction of innovative surgical lights products by these companies. The other key players are adopting strategies such as merger and acquisition, partnership, and collaboration that is anticipated to bode well for the global operating lights market growth during the forecast period.
List of the Companies Operating in the Global Market:
- HillRom Services Inc. (Indiana, United States)
- Stryker (Michigan, United States)
- Getinge AB (Sweden)
- Steris plc. (Ohio, United States)
- S.I.M.E.O.N. Medical GmbH & Co. KG (Tuttlingen, Germany)
- Technomed India (Chennai, Tamil Nadu)
- Skytron (MI, United States)
- BihlerMED (Phillipsburg, New Jersey)
- Dr. Mach GmbH & Co. KG (Ebersberg, Germany)
- Other Players
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Surgical Lights Market Table Of Contents :
Surgical Lights Market Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
Surgical Lights Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- New Product Launches, Key Players
- Pricing Analysis, Key Brands/ Key Players, 2019
- Number of Operating Rooms, Key Countries, 2019
Global Surgical Lights Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Technology
- Market Analysis, Insights and Forecast – By End User
- Hospitals & ASC’s
- Specialty Clinics
- Market Analysis, Insights and Forecast – By Region
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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Article originally published at https://www.einpresswire.com/article/577945368/with-4-6-cagr-surgical-lights-market-size-worth-usd-852-8-billion-in-2027