Pune, Aug. 31, 2020 (GLOBE NEWSWIRE) -- The global surgical lights market size is expected to showcase an exponential growth by reaching USD 852.8 million by 2027 while exhibiting a CAGR of 4.6% between 2020 and 2027. The growth is attributable to the increasing demand for advanced healthcare facilities and the increasing technological advancements in surgical lights across the globe. This information is published by Fortune Business Insights, in its latest report, titled, “Surgical Lights Market Size, Share & Industry Analysis, By Technology (LED, and Halogen), By End User (Hospitals & ASC’s, Specialty Clinics, and Others (Procedure Rooms, etc.)) and Regional Forecast, 2020-2027.” The report further mentions that the market stood at USD 596.9 million in 2019 and is likely to gain momentum in the forthcoming years.
Surgical lights or operating lights are generally adopted in hospital operating rooms and several ambulatory surgery centers that provide optimum quality lighting for surgical procedures. There are two types of illuminating lights such as LED and halogen that are widely adopted across several hospitals. They further provide efficient visualization that allows the surgeon to complete various surgeries with high proficiency. Additionally, they are configured on the wall, ceiling, or floor stand as per the illumination requirement in the operation theatre.
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What does the Report Include?
The global market for surgical lights report includes a detailed assessment of various drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Additionally, the report provides comprehensive insights into the regional developments of the market, affecting its growth during the forecast period.
It includes information sourced from the advice of expert professionals from the industry by our research analysts using several research methodologies. The competitive landscape offers further detailed insights into strategies such as product launches, partnership, merger and acquisition, and collaborations adopted by the companies to maintain market stronghold between 2020 and 2027.
DRIVING FACTORS:
Increasing Demand for Advanced Healthcare Facilities to Promote Growth
The medical industry is tremendously evolving with the influx of several private players and the growing public-private partnerships. However, there are certain limitations such as prolonged waiting time for availing treatment, several unmet medical needs, and less penetration of medical services in underdeveloped regions.
These factors are propelling the demand for advanced healthcare facilities across the globe. Additionally, increasing government funding and favorable policies are expected to aid in the development of healthcare systems across the globe. This is expected to boost the growth of the global surgical lights market during the forecast period.
The coronavirus has majorly disturbed businesses working across various sectors. The restriction on transportation has limited the supply of products. Moreover, the government of several countries has initiated lockdown to prevent the spread of this infectious disease. Such plans have caused disturbances in the production and supply chain. But, with time and resolution, we will be able to combat this stern time and get back to normality. Our well-revised reports will help companies to receive in-depth information about the present scenario of every market so that you can adopt the necessary strategies accordingly.
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SEGMENTATION
LED Segment to Showcase a Considerable Growth Owing to Increasing Adoption in Healthcare Institutions
The segment LED, based on technology, is expected to experience a significant growth owing to the increasing adoption of LED technology in the healthcare sector. The LED surgical lights are affordable and provide bright illumination during the surgical procedures that are expected to favor the growth of this segment during the forecast period.
REGIONAL INSIGHTS
Asia-Pacific to Remain Dominant; Rapid Development of Healthcare Infrastructure to Bolster Growth
Among all the regions, Asia-Pacific is expected to remain at the forefront and hold the highest position in the global surgical lights market during the forecast period. This is attributable to the fast-paced development of healthcare infrastructure to cater to the increasing population rate in the region. Additionally, the increasing prevalence of chronic disease is expected to drive the demand for these lights in Asia-Pacific.
The market in North America stood at USD 185.0 million in 2019 and is expected to experience a significant growth in the forthcoming years. This is ascribable to factors such as established healthcare infrastructure and the increasing adoption of advanced LED surgical lights in countries such as the U.S. and Canada between 2020 and 2027.
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COMPETITIVE LANDSCAPE
Major Companies Launch Innovative Products to Strengthen Their Product Portfolio
The market is consolidated by the dominance of major players such as Hillrom Services Inc., Getinge AB, and Stryker. This dominance is attributable to a strong brand presence and the introduction of innovative surgical lights products by these companies. The other key players are adopting strategies such as merger and acquisition, partnership, and collaboration that is anticipated to bode well for the global operating lights market growth during the forecast period.
Industry Development:
- January 2019 – Getinge AB, a Swedish lighting solutions provider, announced the launch of Maquet PowerLED II surgical light. According to the company, the product provides shadow-free and bright illumination that aids in optimum visualization while performing surgeries in an operation theatre.
List of the Companies Operating in the Global Surgical Lights Market:
- HillRom Services Inc. (Indiana, United States)
- Stryker (Michigan, United States)
- Getinge AB (Sweden)
- Steris plc. (Ohio, United States)
- S.I.M.E.O.N. Medical GmbH & Co. KG (Tuttlingen, Germany)
- Technomed India (Chennai, Tamil Nadu)
- Skytron (MI, United States)
- BihlerMED (Phillipsburg, New Jersey)
- Dr. Mach GmbH & Co. KG (Ebersberg, Germany)
- Other Players
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Table of Contents:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- New Product Launches, Key Players
- Pricing Analysis, Key Brands/ Key Players, 2019
- Number of Operating Rooms, Key Countries, 2019
- Global Surgical Lights Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Technology
- LED
- Halogen
- Market Analysis, Insights and Forecast – By End User
- Hospitals & ASC's
- Specialty Clinics
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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