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.
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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.
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.
The COVID-19 pandemic has caused huge losses for several companies by halting their manufacturing processes. The governments of various companies are persistently striving to prevent the transmission of coronavirus by promoting social distancing and sanitization measures. Our reports would help you in gaining more insights into the effects of COVID-19 on every market.
The Surgical Lights Market report offers an in-depth analysis of the Surgical Lights industry and the demand drivers by highlighting information on several aspects of the market. Prudent Markets addresses all these aspects and provides the latest scoop and detailed eye-opening study on all major & emerging business segments. In addition to this, the report sheds light on the industry developments by key players, which are contributing to the expansion of this industry. The development scope, feasibility study, Surgical Lights market concentration, and maturity analysis is elaborated in this report.
Information given in the research report pertains to different technological advancements introduced in recent years, which allows for a meticulous analysis of the industry and offers a more comprehensive understanding to the readers.
Highlights of the Report:
1. Market Penetration: Comprehensive information on the product portfolios of the top players in the Supply Chain Analytics market.
2. Product Development/Innovation: Detailed insights on the upcoming technologies, RandD activities, and product launches in the market
3. Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
4. Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
5. Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Supply Chain Analytics market.
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 outbreak of covid-19 in the global market has made companies uncertain about their future scenario as the prolonged lock-down finds a serious economic slump. The latest survey on COVID-19 Outbreak-Global Surgical Lights Market is conducted to provide hidden gems performance analysis. Essential growth factors and study of Basis points [BPS] have been discussed in the following report. Research Report explains a detailed overview of market dynamics, segmentation, product portfolio, business plans, and the latest development in the industry.
Our research methodology is robust and includes data triangulation based on bottom-up and top-down approaches. We validated the approximate market number with the help of primary research. Secondary research was conducted to find out detailed information about mergers and acquisitions, collaborations, joint ventures, and agreements. At the same time, we have derived significant information about the market dynamics associated with growth drivers, trends, and obstacles.
The Report offers figurative estimations for upcoming years on the basis of the recent developments and historic data. For gathering information and estimating revenue for all segments, researchers have used top-down and bottom-up approaches. On the basis of data collected from primary and secondary research and trusted data sources the report will help both existing and new aspirants for Surgical Lights market to figure out and study the market’s needs, market size, and competition.
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.
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.
Major companies in the Global Surgical Lights Market are increasingly focusing on research and development activities to create new and innovative products to stay ahead of the competition. Staying on top of market trends & drivers is crucial for decision-makers to hold this emerging opportunity. The study provides information on market trends and development, drivers, capacities, technologies, and the changing investment structure of the Surgical LightsIndustry.
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 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