Surgical Lights Market Growing Popularity And Emerging Trends In The Market, Forecast To 2026
The global surgical lights market size is expected to reach USD 2.2 billion by 2026, registering a CAGR of 4.6% during the forecast period, according to a new report by Radiant Insights, Inc. Increasing demand for latest technologies to provide patients the best possible care coupled with rising number of surgical procedures around the globe is expected to fuel the growth.
Surgical lights are mainly used in Ambulatory Surgery Centers (ASCs) and hospitals. They are used by surgeons, clinicians, and proceduralists for optimal visualization during a medical procedure. The lights can also be used in emergency rooms, labor and delivery, and examination rooms. A rise in the number of surgeries due to the high prevalence of cardiovascular diseases, neurological disorders, and accidents and trauma cases is anticipated to drive the demand for surgical lights in the forthcoming years. According to a 2016 report of the World Health Organization (WHO), the number of surgeries increased by ~40% from 2004 to 2012.
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North America and Europe have led the surgical light market in terms of both the revenue and volume share, owing to the availability of a large number of advanced and progressive healthcare facilities and growing number of ambulatory surgery centers in the regions. In Asia Pacific, the adoption of surgical lights is rising at a significant rate, due to increasing number of well-equipped healthcare facilities in the region.
Further key findings from the report suggest:
• Hospitals and ambulatory surgical centers prefer LED surgical lights due to advantages over halogen lights, such as energy-efficiency, less energy consumption, and longer shelf life
• Government initiatives for promoting the adoption of energy-efficient surgical lamps in hospitals and ambulatory surgical centers along with increasing R&D efforts for advancements in surgical lights is driving the market
• North America dominated the market with the largest revenue share of 38.7% in 2018. This is due to the increasing number of ambulatory surgical centers for outpatient surgical procedures and growing trend for hybrid operating rooms in U.S.
• Asia Pacific is expected to witness the fastest CAGR of 6.4% over the forecast period. Improvement of healthcare infrastructure is attributed to the increasing demand for surgical devices, equipment, and accessories
• Few of the surgical lights market players are STERIS plc; A-dec Inc.; BihlerMED; CV Medical; SKYTRON; Herbert Waldmann GmbH & Co. KG; Getinge AB; Hill-Rom Services; S.I.M.E.O.N. Medical GmbH & Co. KG; and Integra LifeSciences Corporation
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Table of Contents
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.1.1. Technology
1.1.2. Application
1.1.3. End use
1.1.4. Regional scope
1.1.5. Estimates and forecast timeline
1.2. Research Methodology
1.3. Information Procurement
1.3.1. Purchased database
1.3.2. Radiant Insights internal database
1.3.3. Secondary sources
1.3.4. Primary research
1.4. Information or Data Analysis
1.4.1. Data analysis models
1.5. Market Formulation & Validation
1.6. Model Details
1.6.1. Commodity flow analysis (Model 1)
1.6.1.1. Approach 1: Commodity flow approach
1.6.2. Volume price analysis (Model 2)
1.6.2.1. Approach 2: Volume price analysis
1.7. List of Secondary Sources
1.8. List of Primary Sources
1.9. Objectives
1.9.1. Objective 1: Understanding the market dynamics
1.9.2. Objective 2: Understanding the market estimates and forecasts
1.9.3. Objective 3: Understanding the attributes such as strategy framework, competitor categorization
1.9.4. Objective 4: Understanding the key product and application scopes to conclude on the market size
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights
Chapter 3. Surgical Lights Market Variables, Trends & Scope
3.1. Market Lineage outlook
3.1.1. Parent market outlook
3.1.2. Related/ancillary market outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Product Pipeline Analysis, by Stage
3.4. Market Dynamics
3.4.1. Market Driver Analysis
3.4.1.1. Increasing number of hospitals and ASCs
3.4.1.2. Rising number of regulatory approvals for operating room equipment
3.4.1.3. Growing need to offer better patient care system across different healthcare facilities
3.4.2. Market Restraint Analysis
3.4.2.1. Expensive nature of the advanced LED lights
3.4.2.2. Longer life span of modern lights
3.4.3. Industry Challenges
Continued…
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