Global Hospital Lighting Market Report 2023: Forecast Market Size, Market Competitive Landscape, And Top Market Segments
24 May, 2023
The global hospital lighting market size is expected to grow from $7.43 billion in 2022 to $7.91 billion in 2023 at a compound annual growth rate (CAGR) of 6.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The hospital lighting market is expected to grow to $10.11 billion in 2027 at a CAGR of 6.3%.
Global Hospital Lighting Market Key Driver
An increase in the number of hospitals worldwide is expected to propel the hospital lighting market. Hospitals are an essential component in the development of a healthcare system. External pressures, healthcare system flaws, and hospital-sector deficiencies are driving hospital construction in many parts of the world right now. The increased construction of hospitals around the world has an impact on the demand for and use of hospital lighting to achieve a practical or aesthetic effect inside and outside the hospital. For instance, according to a 2021–22 annual report published by the Department of Health & Family Welfare, the April–June 2021 quarterly progress data shows that over 5,500 urban facilities have been strengthened, and the construction of approximately 890 new UPHCs (public health care) and 90 new UCHCs (urban community health centers) has been approved. Therefore, the increase in the number of primary healthcare centers and hospitals will drive the demand for the hospital lighting market.
Get a sample of the global hospital lighting market reportGlobal Hospital Lighting Market Segments
The global hospital lighting market is segmented:
1) By Product: Troffers, Surface-mounted Lights, Surgical Lamps, Other Products
2) By Technology: Fluorescent, LED, Renewable Energy, Other Technologies
3) By Application: Patient Wards and ICUs, Examination Rooms, Surgical Suites, Other Applications
4) By Geography: The regions covered in the hospital lighting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Among these regions, North America accountsfor the largest share in the global hospital lighting market.
Major Hospital Lighting Industry Players
Acuity Brands Inc., KLS Martin Group, Eaton Corporation PLC, Hubbell Incorporated, Koninklijke Philips NV, Trilux GmbH & Co. KG, Zumtobel Group, General Electric Company, Kenall Manufacturing Company, Brandon Medical Company, Drägerwerk AG & Co. KGaA, Signify Holding BV, Osram Licht AG, and Orion Energy Systems Inc.
Get the full global hospital lighting industry report
Hospital Lighting Market Overview
The lighting used in hospitals to achieve a practical or aesthetic effect is referred to as hospital lighting. Patient rehabilitation services, doctor-patient relationships, hospital operation management, and cost control are all critical to the realisation of health treatments and care effects.
Hospital Lighting Global Market Report 2023 provides data on the global hospital lighting market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The hospital lighting market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.