New York, April 26, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Medical Lighting Technologies Global Market Report 2023" - https://www.reportlinker.com/p06450953/?utm_source=GNW
, and Excelitas Technologies Corporation.
The global medical lighting technologies market is expected to grow from $2.94 billion in 2022 to $3.19 billion in 2023 at a compound annual growth rate (CAGR) of 8.6%. 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 medical lighting technologies market is expected to grow to $4.31 billion in 2027 at a CAGR of 7.8%.
The medical lighting technologies market consists of sales of products that are used in operating room/surgical suites, examination rooms, and intensive care units (ICU) applications.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.
Medical lighting technologies refer to the technology that properly exposes the subject’s real color and has the added benefit of several groupings of tiny light sources mounted at different angles to aid in shadow reduction for a more uniform surgical light. The medical lighting technologies are used to allow personnel to perform duties such as monitoring thermometers and creating charts at the bedside.
North America was the largest region in the medical lighting technologies market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the medical lighting technologies market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main products of medical lighting technologies are surgical lamps, examination lights, specialty lights, and accessories.Surgical lamps refer to providing people working with a clear perspective of the surgical site and working environment, as well as the ability to rely on the lighting equipment’s performance.
The technologies involved are LED, halogen, incandescent, and other technologies. These are used by various end-user industries such as hospitals, outpatient facilities, dental hospitals, and other industries.
Increasing demand for better healthcare facilities is expected to propel the growth of the medical lighting technologies market going forward.Healthcare facilities refer to residential care institutions, nursing facilities, intermediate care facilities for people with mental illnesses, or intermediate care facilities for people with mental retardation.
Lighting is critical in the healthcare setting since it is used in ICUs, operating rooms, and other critical places.High-quality lighting is required to offer a secure and comfortable atmosphere for patients, hospital personnel, and visitors.
For instance, in May 2022, according to an article published by the American Medical Association, a US-based professional association, and lobbying group of physicians and medical students, in 2020, healthcare spending in the United States is expected to rise by 9.7% to $4.1 trillion, or $12,530 per person. This pace of growth is significantly higher than that of 2019 (4.3%). Therefore, increasing demand for better healthcare facilities is driving the growth of the medical lighting technologies market.
Technological advancements are a key trend gaining popularity in the medical lighting technologies market.Major companies operating in the medical lighting technology market are focused on developing new technological solutions to gain a competitive edge in the market.
For instance, in January 2020, Gentex Corporation, US-based electronics, and technology company unveiled an innovative lighting technology for medical applications.The Gentex smart lighting system consists of a number of flushes, ceiling-mounted lighting modules with banks of dynamically changeable LED arrays that work together to direct concentrated illumination where and when it is required.
The system creates a target lighting zone using vocal commands, hand motions, or a handheld tracking device.The activation, intensity, and direction of the light array are then coordinated by an integrated machine-vision camera to reduce shadows and produce ideal lighting conditions within the designated surgical field.
Also, for surgical and patient care facilities, Gentex’s new smart lighting system blends ambient room lighting with camera-controlled, adaptive task lighting.
In February 2022, Halma Plc, a UK-based group of life-saving technology companies acquired International Light Technologies Inc for an undisclosed amount.With this acquisition, Halma plc will improve its environmental & analysis sector business.
International Light Technologies Inc is a US-based manufacturer of technical lighting sources and light measuring systems for biomedical, agricultural, food and beverage, and industrial applications.
The countries covered in the medical lighting technologies market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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.
The medical lighting technologies market research report is one of a series of new reports that provides medical lighting technologies market statistics, including medical lighting technologies industry global market size, regional shares, competitors with a medical lighting technologies market share, detailed medical lighting technologies market segments, market trends and opportunities, and any further data you may need to thrive in the Medical lighting technologies industry. This medical lighting technologies market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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