Medical lighting technologies provide various significant benefits both at the operational and financial level to the hospitals and medical facilities. The demands for the medical lighting technologies have increased substantially owing to the infrastructural development of multi-specialty hospitals across the globe. According to the latest market intelligence report by BIS Research titled, ‘Global Medical Lighting Technologies Market -Analysis and Forecast (2018-2026),’ the market is anticipated to reach $2.76 billion by 2026. This significant market growth is attributed to the increase in the adoption rate of the technologically advanced medical lightings in the hospitals. The government in the developed countries is playing a vital role in improving the healthcare infrastructure and facilities.
Medical lighting technologies provide optimal illumination during the surgical and medical examination procedures. Halogen (Quartz and Tungsten), gas mixtures such as xenon plasma and Light Emitting Diodes(LEDs) are some of the advanced technology based medical lightings. These lightings provide optimally bright and shadow free high-intensity light and thus enable the surgeons to have an unobstructed view of the patient’s body. Medical lighting technologies have a low maintenance cost, better energy efficiency and produce minimal thermal radiations as compared to the existing medical lights. Medical lighting technologies are used in various surgeries such as neurosurgery, dental surgery, endoscopic surgery, and optical surgery, among others.
Among the technological types of medical lighting technologies, LEDs are leading the market for medical lighting technologies on a global scale. LEDs are gaining immense popularity owing to their long-life and ability to produce more bright light with less thermal radiations as compared to the traditional lights. These LED lighting technologies have also witnessed a significant financial benefit in terms of energy saving, as these lights can reduce 70% lighting expenditures. Among the product segment of medical lighting technologies, surgical lighting segment accounted for the maximum market share and is expected to register a CAGR of 5.8% from 2018-2026. Specialty lights are expected to register the highest CAGR of 6.5% during the forecast period, among the product segment.
The rise in the demands for better healthcare facilities and increasing number of hospitals in the developing and developed economies are expected to surge the growth of the medical lighting technologies market. The government in emerging economies such as China, India, and Brazil are offering reimbursement and subsidy policies to increase the adoption rates of technologically advanced medical lightings. The medical lighting technologies market is encompassed of varied-range of companies, working across the surgical lighting system’s manufacturers, medical exam light’s manufacturers, and specialty light’s manufacturers. The prominent market players who have a significant contribution to the global market for medical lighting technologies are Brandon Medical Co. Ltd., Cree Inc., Daray Medical, Dragerwerk AG & Co. KgaA, Eaton Corporation plc., and Integral Life sciences Corporation Holdings.
BIS Research has conducted extensive research on the global medical lighting technologies market and compiled the observation and insight in this report. The market intelligence report aims at providing an in-depth analysis of the key development strategies, marketing strategies and market trend dynamics which include drivers, restraints, and opportunities prevailing in the industry.
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