Hospital Lights Global Market Report 2024

The global hospital lights market 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 global hospital lights market 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 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.

This report 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 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.


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