Hospital Lights Global Market Report 2024

Description

Hospital Lights Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on hospital lights market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
Create regional and country strategies on the basis of local data and analysis.
Identify growth segments for investment.
Outperform competitors using forecast data and the drivers and trends shaping the market.
Understand customers based on the latest market shares.
Benchmark performance against key competitors.
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Where is the largest and fastest growing market for hospital lights? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The hospital lights market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

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; Surgical Suites; Examination Rooms; Other Applications
Companies Mentioned: Koninklijke Philips N.V.; The Zumtobel Group; Wolfspeed Inc.; Signify N.V.; Acuity Brands Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Hospital lights are lighting fixtures designed for use in medical facilities to ensure the safety and well-being of the individuals working within the building.

The main product categories of hospital lights include troffers, surface-mounted lights, surgical lamps, and other related products. Troffers, for example, are inverted troughs serving as support and reflectors, typically for fluorescent lighting units. These lights employ various technologies such as fluorescent, LED, renewable energy, and others. They find applications in different areas of healthcare facilities, including patient wards and ICUs, surgical suites, examination rooms, and various other spaces where specific lighting requirements are essential for medical procedures, examinations, and overall facility functionality.

The hospital lights market research report is one of a series of new reports from The Business Research Company that provides hospital lights market statistics, including hospital lights industry global market size, regional shares, competitors with a hospital lights market share, detailed hospital lights market segments, market trends and opportunities, and any further data you may need to thrive in the hospital lights industry. This hospital lights market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The hospital lights market size has grown strongly in recent years. It will grow from $8.89 billion in 2023 to $9.71 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth observed in the historical period can be attributed to a focus on patient comfort, energy efficiency requirements, the need for surgical precision, regulatory compliance, the emphasis on patient-centric lighting, increased spending in the healthcare sector, and considerations related to architecture and aesthetics.

The hospital lights market size is expected to see strong growth in the next few years. It will grow to $13.97 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The projected growth in the forecast period can be attributed to the increasing number of healthcare facilities, advancements in control systems for lighting, the adoption of sustainable lighting practices, specialized lighting design for behavioral health spaces, and customization tailored to different areas within hospitals. Additionally, adherence to lighting standards plays a role in this growth. Key trends expected in this period include the dominance of LED technology, color temperature adjustability in lighting solutions, the integration of smart lighting systems, a growing adoption of indirect lighting, and the incorporation of wireless controls and IoT integration.

The hospital lights market is experiencing substantial growth due to the increasing number of hospitals globally. Hospitals, dedicated to illness diagnosis and medical treatment, necessitate efficient lighting solutions. Hospital lights serve multiple purposes, providing adequate illumination for medical staff, serving as signaling devices during events, and ensuring minimal disturbance to patients during sleep. A survey by the American Hospital Association reveals that the total number of U.S. hospitals is 6,093, with 5,139 being community hospitals. This proliferation of hospitals underscores the rising demand for hospital lights, making them a crucial component in healthcare infrastructure.

The hospital lights market is witnessing growth propelled by the growing demand for infection control measures in healthcare settings. Infection control policies and procedures aim to mitigate the spread of infections within hospitals. The role of lighting technology in reducing infection rates is crucial, driving the adoption of advanced hospital lights. The World Health Organization reports that healthcare-associated infections affect a significant number of patients globally. The integration of innovative lighting solutions contributes to infection control efforts, making hospital lights an essential component in fostering a safer healthcare environment.

A key trend in the hospital lights market is product innovation, with major players focusing on creating advanced solutions to enhance their market share. An example of this trend is Signify's launch of the Philips UV-C disinfection box in October 2021. This product employs UV-C technology to disinfect small objects, demonstrating efficacy in inactivating the SARS-CoV-2 virus. The emphasis on innovation, especially in the context of disinfection and infection prevention, aligns with the evolving needs of the healthcare industry. Hospital lights are evolving into sophisticated tools that contribute to maintaining a hygienic and safe healthcare environment.

Major companies in the hospital lights market are strategically investing to secure long-term returns and gain a competitive edge. A notable example is Mykare Health, an India-based digital health startup that raised $2.01 million in a seed round in June 2023. Mykare Health plans to utilize these funds to develop an asset-light, cost-effective, and standardized hospital network. Such strategic investments reflect the growing importance of innovative healthcare solutions and the role that hospital lights play in shaping the future of healthcare infrastructure. The strategic focus on developing standardized hospital networks underscores the industry's commitment to providing quality healthcare services.

In March 2021, SMART Global Holdings, a leading US-based holding company specializing in providing specialty memory solutions, successfully acquired Cree LED for an undisclosed sum. This strategic acquisition positions Cree with a refined strategic focus to lead the industry transition from silicon to silicon carbide. SMART, known for its robust foundation and successful track record in acquiring and integrating companies with expertise in specialized solutions, facilitated this transition. Cree LED, the acquired entity, is a US-based company operating in the field of hospital lights.

Major companies operating in the hospital lights market report are Koninklijke Philips N.V., The Zumtobel Group, Wolfspeed Inc., Signify N.V., Acuity Brands Inc., Steris PLC, Skytron LLC, Integra LifeSciences Corporation, S.I.M.E.O.N. Medical GmbH & Co. KG, Getinge AB, General Electric Company, Hubbell Incorporated, KLS Martin Group, Brandon Medical Co. Ltd., Best Lighting Products Inc., Herman Miller, TLV Co. Ltd., ETS-Lindgren Ltd., Kenall Manufacturing, Planmeca OY, Shenzhen Comen Medical Instruments Co. Ltd., Medifa, Hill-Rom Holdings Inc., Eaton Corporation, Osram Licht AG, Cooper Lighting Solutions, Dialight PLC, LEDVANCE GmbH, McKesson Corporation, and Stryker Corporation.

North America was the largest region in the hospital lights market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hospital lights market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the hospital lights market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The hospital lights market consists of sales of fluorescent tubular lamps (FTL), compact fluorescent lamps (CFL), and recessed lighting. 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.

Product Code: r12778

1. Executive Summary

2. Hospital Lights Market Characteristics

3. Hospital Lights Market Trends And Strategies

4. Hospital Lights Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Hospital Lights Market Size and Growth

5.1. Global Hospital Lights Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Hospital Lights Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Hospital Lights Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Hospital Lights Market Segmentation

6.1. Global Hospital Lights Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Troffers
Surface-Mounted Lights
Surgical Lamps
Other Products
6.2. Global Hospital Lights Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Fluorescent
LED
Renewable Energy
Other Technologies
6.3. Global Hospital Lights Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Patient Wards And ICUs
Surgical Suites
Examination Rooms
Other Applications

7. Hospital Lights Market Regional And Country Analysis

7.1. Global Hospital Lights Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Hospital Lights Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Hospital Lights Market

8.1. Asia-Pacific Hospital Lights Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Hospital Lights Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Hospital Lights Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Hospital Lights Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Hospital Lights Market

9.1. China Hospital Lights Market Overview
9.2. China Hospital Lights Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Hospital Lights Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Hospital Lights Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Hospital Lights Market

10.1. India Hospital Lights Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Hospital Lights Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Hospital Lights Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Hospital Lights Market

11.1. Japan Hospital Lights Market Overview
11.2. Japan Hospital Lights Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Hospital Lights Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Hospital Lights Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Hospital Lights Market

12.1. Australia Hospital Lights Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Hospital Lights Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Hospital Lights Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Hospital Lights Market

13.1. Indonesia Hospital Lights Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Hospital Lights Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Hospital Lights Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Hospital Lights Market

14.1. South Korea Hospital Lights Market Overview
14.2. South Korea Hospital Lights Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Hospital Lights Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Hospital Lights Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Hospital Lights Market

15.1. Western Europe Hospital Lights Market Overview
15.2. Western Europe Hospital Lights Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Hospital Lights Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Hospital Lights Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Hospital Lights Market

16.1. UK Hospital Lights Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Hospital Lights Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Hospital Lights Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Hospital Lights Market

17.1. Germany Hospital Lights Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Hospital Lights Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Hospital Lights Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Hospital Lights Market

18.1. France Hospital Lights Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Hospital Lights Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Hospital Lights Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Hospital Lights Market

19.1. Italy Hospital Lights Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Hospital Lights Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Hospital Lights Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Hospital Lights Market

20.1. Spain Hospital Lights Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Hospital Lights Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Hospital Lights Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Hospital Lights Market

21.1. Eastern Europe Hospital Lights Market Overview
21.2. Eastern Europe Hospital Lights Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Hospital Lights Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Hospital Lights Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Hospital Lights Market

22.1. Russia Hospital Lights Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Hospital Lights Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Hospital Lights Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Hospital Lights Market

23.1. North America Hospital Lights Market Overview
23.2. North America Hospital Lights Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Hospital Lights Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Hospital Lights Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Hospital Lights Market

24.1. USA Hospital Lights Market Overview
24.2. USA Hospital Lights Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Hospital Lights Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Hospital Lights Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Hospital Lights Market

25.1. Canada Hospital Lights Market Overview
25.2. Canada Hospital Lights Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Hospital Lights Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Hospital Lights Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Hospital Lights Market

26.1. South America Hospital Lights Market Overview
26.2. South America Hospital Lights Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Hospital Lights Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Hospital Lights Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Hospital Lights Market

27.1. Brazil Hospital Lights Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Hospital Lights Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Hospital Lights Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Hospital Lights Market

28.1. Middle East Hospital Lights Market Overview
28.2. Middle East Hospital Lights Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Hospital Lights Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Hospital Lights Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Hospital Lights Market

29.1. Africa Hospital Lights Market Overview
29.2. Africa Hospital Lights Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Hospital Lights Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Hospital Lights Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Hospital Lights Market Competitive Landscape And Company Profiles

30.1. Hospital Lights Market Competitive Landscape
30.2. Hospital Lights Market Company Profiles
- 30.2.1. Koninklijke Philips N.V.
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. The Zumtobel Group
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Wolfspeed Inc.
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Signify N.V.
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Acuity Brands Inc.
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global Hospital Lights Market Competitive Benchmarking

32. Global Hospital Lights Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Hospital Lights Market

34. Hospital Lights Market Future Outlook and Potential Analysis

34.1 Hospital Lights Market In 2028 - Countries Offering Most New Opportunities
34.2 Hospital Lights Market In 2028 - Segments Offering Most New Opportunities
34.3 Hospital Lights Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer