The hospital lighting market is projected to reach USD 7.03 billion by 2021 from USD 5.19 billion in 2016, at a CAGR of 6.2% from 2016 to 2021. The hospital lighting market is segmented based on products, technology, applications and region.
On the basis of product, the hospital lighting market is segmented into troffers, surface-mounted lights, surgical lights and other products. The troffer segment is estimated to account for the largest share of the hospital lighting market in 2016. Factors such as, to increasing number of hospitals in Asian countries and surging adoption of LED based troffers in hospitals globally.
The technology is segmented into fluorescent, LED, renewable energy and other technologies. The LED technology is projected to witness the highest growth in this market due to the longer shelf life, increasing adoption of LED, and technological advantages over traditional lighting
The applications market, by type, is segmented into patient wards & ICUs, examination rooms, surgical suites and other applications. The patient wards and ICUs segment is projected to witness the highest growth in this market due to technical enhancements and increasing adoption of LED based fixtures in hospitals wards.
Geographically, the hospital lighting market is dominated by North America, followed by Europe, Asia and the Rest of the World (RoW). Asia is the fastest growing market. Growth in this market driven by the increasing number of hospitals, growing population, and government initiatives for the improvement of healthcare infrastructure.
Prominent players in this market are General Electric Company (U.S.), Acuity Brands Lighting Inc. (U.S.), Cree Inc. (U.S.), Eaton Corporation PLC (Ireland), Hubbell Incorporated (U.S.), Koninklijke Philips N.V. (Netherlands), and Zumtobel Group AG (Austria). Other players in this market include Herbert Waldmann GmbH & Co. KG (Germany), KLS Martin Group (Germany), and Trilux Lighting Ltd (U.K.).
Apart from comprehensive geographic and devices analysis and market sizing, the report also provides a competitive landscape that covers the growth strategies adopted by industry players over the last three years. In addition, the company profiles comprise the product portfolios, developments, and strategies adopted by players to maintain and increase their shares in the market.
Reasons To Buy the Report:
This report will enable both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help these firms garner greater market shares. Companies purchasing the report can use any one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the hospital lighting market. The report analyses the hospital lighting market by products, application, end users, and region.
- Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and new product launches in the hospital lighting market
- Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments, and product portfolios of the leading players in the hospital lighting market
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for hospital lighting across geographies
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the, hospital lighting market.