Global Medical Lighting Technologies Market Report 2023: Increasing Demand for Better Healthcare Facilities Fuels the Sector
Global Medical Lighting Technologies Market
Dublin, May 02, 2023 (GLOBE NEWSWIRE) -- The "Medical Lighting Technologies Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the market.
The global medical lighting technologies market is expected to grow from $2.94 billion in 2022 to $3.19 billion in 2023 at a compound annual growth rate (CAGR) of 8.6%. The medical lighting technologies market is expected to grow to $4.31 billion in 2027 at a CAGR of 7.8%.
Major players in the medical lighting technologies market are A-Dec Inc., Brandon Medical Company Limited, Burton Medical LLC, Wolfspeed Inc., Daray Limited, Draegerwerk AG & Co KGaA, Eaton Corporation plc, GE HealthCare, Getinge AB, Integra Lifesciences Holdings Corporation, KLS Martin Group, Merivaara Corporation, Steris plc, Stryker Corporation, Trilux GmbH & Co KG, Welch Allyn Inc., and Excelitas Technologies Corporation.
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The main products of medical lighting technologies are surgical lamps, examination lights, specialty lights, and accessories. Surgical lamps refer to providing people working with a clear perspective of the surgical site and working environment, as well as the ability to rely on the lighting equipment's performance. The technologies involved are LED, halogen, incandescent, and other technologies. These are used by various end-user industries such as hospitals, outpatient facilities, dental hospitals, and other industries.
The medical lighting technologies market research report is one of a series of new reports that provides medical lighting technologies market statistics, including medical lighting technologies industry global market size, regional shares, competitors with a medical lighting technologies market share, detailed medical lighting technologies market segments, market trends and opportunities, and any further data you may need to thrive in the Medical lighting technologies industry. This medical lighting technologies market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Technological advancements are a key trend gaining popularity in the medical lighting technologies market. Major companies operating in the medical lighting technology market are focused on developing new technological solutions to gain a competitive edge in the market.
In February 2022, Halma Plc, a UK-based group of life-saving technology companies acquired International Light Technologies Inc for an undisclosed amount. With this acquisition, Halma plc will improve its environmental & analysis sector business. International Light Technologies Inc is a US-based manufacturer of technical lighting sources and light measuring systems for biomedical, agricultural, food and beverage, and industrial applications.
North America was the largest region in the medical lighting technologies market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical lighting technologies market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the medical lighting technologies market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Increasing demand for better healthcare facilities is expected to propel the growth of the medical lighting technologies market going forward. Healthcare facilities refer to residential care institutions, nursing facilities, intermediate care facilities for people with mental illnesses, or intermediate care facilities for people with mental retardation. Lighting is critical in the healthcare setting since it is used in ICUs, operating rooms, and other critical places. High-quality lighting is required to offer a secure and comfortable atmosphere for patients, hospital personnel, and visitors.
For instance, in May 2022, according to an article published by the American Medical Association, a US-based professional association, and lobbying group of physicians and medical students, in 2020, healthcare spending in the United States is expected to rise by 9.7% to $4.1 trillion, or $12,530 per person. This pace of growth is significantly higher than that of 2019 (4.3%). Therefore, increasing demand for better healthcare facilities is driving the growth of the medical lighting technologies market.
The medical lighting technologies market consists of sales of products that are used in operating room/surgical suites, examination rooms, and intensive care units (ICU) applications. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
No. of Pages
2023 - 2027
Estimated Market Value (USD) in 2023
Forecasted Market Value (USD) by 2027
Compound Annual Growth Rate
Key Topics Covered:
1. Executive Summary
2. Medical Lighting Technologies Market Characteristics
3. Medical Lighting Technologies Market Trends And Strategies
4. Medical Lighting Technologies Market - Macro Economic Scenario
4.1. COVID-19 Impact On Medical Lighting Technologies Market
4.2. Ukraine-Russia War Impact On Medical Lighting Technologies Market
4.3. Impact Of High Inflation On Medical Lighting Technologies Market
5. Medical Lighting Technologies Market Size And Growth
5.1. Global Medical Lighting Technologies Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Medical Lighting Technologies Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Medical Lighting Technologies Market Segmentation
6.1. Global Medical Lighting Technologies Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
6.2. Global Medical Lighting Technologies Market, Segmentation By Technology, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
LED (Light-Emitting Diode)
6.3. Global Medical Lighting Technologies Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7. Medical Lighting Technologies Market Regional And Country Analysis
7.1. Global Medical Lighting Technologies Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Medical Lighting Technologies Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
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