Global Hospital Lighting Market Share Is Expected To Grow At A CAGR Of 8.7% By 2030

11-Jan-2023 | Facts and Factors

According to Facts and Factors, the global hospital lighting market size was worth around USD 5.43 billion in 2021 and is predicted to grow to around USD 9.76 billion by 2030 with a compound annual growth rate (CAGR) of roughly 8.7% between 2022 and 2030.

Accurate visibility plays a vital role in the healthcare industry which is facilitated by proper hospital lighting systems. Adoption of advanced technology related to hospital lighting has taken place in recent years which has boosted the facilities and services that are provided to patients. Proper hospital lighting helps to provide a healthy ambiance to the patient which helps in their speedy recovery. The availability of adequate hospital lighting helps to balance the circadian rhythm of the patient and hence, helps to keep them healthy.

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Browse the full “Hospital Lighting Market Size, Share, Growth Analysis Report By Application (Surgical Suites, ICUs and Patient Wards, Examination Rooms, and Others), By Technology (LED Lights, Fluorescent Lights, Renewable Lights, and Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2030" report at https://www.fnfresearch.com/hospital-lighting-market

Emerging economies have adopted the utilization of renewable sources of energy which has helped the global hospital lighting market to record a significant revenue. The inclusion of LED lights instead of traditional lighting systems has helped the hospital lighting market to record significant revenue. This advanced technology proves to be long-lasting and benefits hospital management by increasing their profit margin.

The number of hospitals has increased rapidly in recent times, which has emerged as a major driving factor for the growth of the market. LED light fixtures have been utilized by the healthcare industry to provide better visibility to healthcare workers. The services and facilities that are provided by healthcare professionals include various visual procedures. A proper lighting system helps to provide better sleep for the patient. An adequate hospital lighting facility is essential for providing proper service to the patient.

The active participation of the government in encouraging the adoption of energy-saving options such as LED lights has helped the global hospital lighting market to record significant revenue. Increasing support from the government will prove to be beneficial for the future of the market. The number of multi-specialty hospitals across the globe has increased rapidly, which has boosted the consumption of LED lights and fixtures. Increasing numbers of patients suffering from chronic diseases have also boosted the demand for advanced healthcare equipment and devices. This factor has boosted the consumption rate and utilization of lighting products.

A lack of skilled professionals for the maintenance of hospital lighting systems emerges as a major restraining factor for the growth of the market. Any damage that may be caused due to the negligence of the untrained employee might increase the maintenance cost at the consumer's end.

The increasing support of the government regarding the utilization of LED lights to conserve energy has helped to boost the market for hospital lighting systems. Increasing demand for advanced healthcare facilities will prove to be a lucrative opportunity for the growth of the market.

The high cost associated with LED lights proves to be a major challenge for the growth of the market. The cheaper alternatives that are available in the industry hamper the growth of the hospital lighting market.

Segmental Overview

The global hospital lighting market is segmented on the basis of application, technology, and region.

By application, the global hospital lighting market has been segmented into surgical suites, ICUs and patient wards, examination rooms, and others. The ICUs and patient wards segment has emerged as the leading segment because of the huge number of patients that are admitted to these units.

The patient wards provide multiple beds with various medical facilities, because of which they are considered a primary choice by the consumers. The increasing demand for well-equipped ICUs has also emerged as a major driving force for the growth of the market. The utilization of LED lights in examination rooms has also contributed significantly to the growth of the market. An adequate illumination facility is essential to provide accurate services to patients.

By technology, the global hospital lighting market has been segmented into LED lights, fluorescent lights, renewable lights, and others. The LED light segment has emerged as a leading segment because of its increasing demand among consumers. LED lights provide better illumination as compared to the other options in the market. The utilization of LED lights helps to conserve a considerable amount of energy and proves beneficial for the healthcare industry.

Regional Overview

By region, North America has emerged as the largest market for hospital lighting because of the advanced healthcare facilities that are provided to the people. The huge number of hospitals that are available in this region has also emerged as a major driving force for the market. The adoption of renewable sources of energy has also emerged as a major driving factor for the growth of the hospital lighting market.

The performance of the LED lights is better as compared to the traditional systems which have proved to be a driving force. The European market has provided significant growth to the hospital lighting market because of the advanced healthcare facilities provided by the government. The Asia-Pacific region has also contributed significantly to the growth of the hospital lighting market because of the advancements that have been made in the healthcare industry. Increasing attraction toward renewable sources of energy has emerged as a major driving factor for the growth of the hospital lighting market.

Report Scope

Report Attribute

Details

Market Size in 2021

USD 5.43 Billion

Projected Market Size in 2030

USD 9.76 Billion

CAGR Growth Rate

8.7% CAGR

Base Year

2021

Forecast Years

2022-2030

Key Market Players

Acuity Brands Lighting Inc., Cree Inc., Eaton Corporation PLC, GE Lighting, Herbert Waldmann GmbH & Co. Kg, Hubbell Incorporation, KLS Martin Group, Koninklijke Philips N.V., Trilux Lighting Ltd., Zumtobel Group AG., and others.

Key Segment

By Application, Technology, and Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa

Purchase Options

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Competitive Landscape

The global hospital lighting market is led by players like Acuity Brands Lighting Inc., Cree Inc., Eaton Corporation PLC, GE Lighting, Herbert Waldmann GmbH & Co. Kg, Hubbell Incorporation, KLS Martin Group, Koninklijke Philips N.V., Trilux Lighting Ltd., and Zumtobel Group AG.

Recent Developments:

  • In 2021 - Cree lighting entered a collaboration with Lutron Electronics. The main objective of this deal was to provide a wide range of lighting products as per the requirement of the hospital.
  • In 2021 - Paola Vighy and Giovanni Traverso, lighting designers entered into a collaboration with Zumtobel for unifying natural light with artificial lighting systems. This is expected to provide a balanced illumination solution to the hospitals.

The global hospital lighting market is segmented as follows:

By Application

  • Surgical suites
  • ICUs and patient wards
  • Examination rooms

By Technology 

  • LED lights
  • Fluorescent lights
  • Renewable lights
  • Others

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Nordic Countries
      • Denmark
      • Sweden
      • Norway
    • Benelux Union
      • Belgium
      • The Netherlands
      • Luxembourg
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Southeast Asia
      • Indonesia
      • Thailand
      • Malaysia
      • Singapore
      • Rest of Southeast Asia
    • Rest of Asia Pacific
  • The Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

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