Examination Lights Market
Number of pages: 100 | Report Format: PDF | Published date: January 24, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
|
Report Attribute |
Details |
|
Market Size Value in 2021 |
US$ 194.0 million |
|
Revenue Forecast in 2030 |
US$ 298.3 million |
|
CAGR |
4.9% |
|
Base Year for Estimation |
2021 |
|
Forecast Period |
2022-2030 |
|
Historical Years |
2020 |
|
Segments Covered |
Type, End User, and Region |
|
Regional Scope |
North America, Europe, Asia Pacific, and the Rest of the World (RoW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global examination lights market was valued at US$ 194.0 million in 2021 and is expected to register a revenue CAGR of 4.9% to reach US$ 298.3 million by 2030.
Examination Lights Market Fundamentals
Examination lights are medical devices used to support surgeons and other healthcare professionals during major and minor surgeries. They are also known as operating lights or surgical light heads. Proper surgical site illumination is crucial in the operating room to prevent any harm to the patient. Examination lights must be consistently produced with various requirements, such as brightness, color rendering index (CRI), homogeneity, associated color temperature (CCT), and shadow dilution. In hospitals and ambulatory surgical centers, led lights are most frequently utilized for surgical illumination. Surgical lights are used in operating rooms, examinations, dental work, and other minor surgeries.
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Examination Lights Market Dynamics
Increase in the demand for examination lights for various screening, diagnostic, and surgical operations is driving revenue growth in the market. Moreover, the prevalence of chronic diseases, such as diabetes and cancer, is increasing across the globe. Therefore, increasing patient burden on healthcare institutions is expected to be the primary revenue growth driver of the global market during the forecast period.
The government authorities of developed and developing countries are boosting their healthcare spending due to the high prevalence rate of chronic and deadly diseases. These efforts are resulting in more dependable and technologically sophisticated healthcare infrastructure in these countries. Increase in the usage of examination lights in the screening of diseases is expected to boost the market revenue growth in the upcoming years.
The examination lights market is expected to gain significant revenue growth opportunities owing to expanding medical lighting technologies, such as surgical lighting systems, specialty lighting, examination lighting systems, and accessories. The adoption of examination lights is increasing owing to their in various healthcare settings, supporting market revenue growth. Moreover, the rising number of hospitals in emerging countries and the increasing acceptance of modern LED lights in various diagnostic processes in different departments are propelling revenue growth in the examination lights market.
However, the absence of uniform regulatory standards for medical equipment, such as examination lights, in underdeveloped countries is likely to restrain the revenue growth of the market.
Examination Lights Market Ecosystem
The global examination lights market has been analyzed from three perspectives: type, end-user, and region.
Examination Lights Market by Product Type
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Based on the type, the global examination lights market is segmented into LED, halogen, and others.
The LED segment dominates the global market with the largest revenue share. This rise in revenue can be attributed to various advantages provided by these lights, such as adequate intensity, cost-savings, enhanced environmental performance, and quantity and quality of illumination in proper proportion. Consequently, the demand for LED lights is rising among medical practitioners. This factor is fueling the segment revenue growth.
Examination Lights Market by End-user
Based on the end-user, the global examination lights market is segmented into hospitals, clinics, and others.
The hospitals segment dominates the global market with the largest revenue share due to the rising demand for examination lights in hospital ward areas, treatment areas, observation areas, examination rooms, waiting and circulation areas, and operating rooms. Numerous visual jobs in hospital environments have specific illumination requirements. Therefore, the examination illumination is provided using examination lights to maximize efficiency, hygiene, safety, and patient and staff well-being. Thus, increase in the demand for examination lights in hospitals for gynecology, cervical screening, dermatology, patient care, and general & emergency care are driving revenue growth in the segment.
The clinics segment is expected to register a revenue CAGR at a faster pace during the forecast period. This can be ascribed to a rise in the need for examination lights from these healthcare settings due to the growing number of clinics, such as dental, gynecological, and orthopedic clinics.
Examination Lights Market by Region
Based on the region, the global examination lights market has been segmented into North America, Europe, Asia Pacific, and the rest of the world.
North America accounts for the largest revenue share of the global market for examination lights, followed by Europe. This is ascribed to increasing number of surgeries performed in the region. Rising adoption of technologically advanced goods and increasing healthcare spending in the United States is resulting in improved hospital and healthcare infrastructure in the country. Moreover, a substantial number of multi-specialty hospitals, increasing preference for minimally invasive surgeries, and rising usage of technically sophisticated LED lights are fueling revenue growth in the North America examination lights market.
Examination Lights Market Competitive Landscape
The prominent players operating in the global examination lights market are:
Examination Lights Market Strategic Developments
The global examination lights market is expected to register a revenue CAGR of 4.3% during the forecast period.
Stryker, Technomed India, Skytron, LLC, Steris plc., and SIMEON Medical GmbH & Co. are among the major players operating in the global examination lights market.
The LED segment accounts for the largest revenue share of the global examination lights market.
Europe is expected to register the highest revenue growth in the global examination lights market during the forecast period.
The global examination lights market was worth US$ 194.0 million in 2021.
*Insights on financial permanence are subject to the availability of information in the public domain