Significant rise in surgical procedures, and surge in technological developments in surgical lights drive the growth of the global surgical lights market. On the other hand, high cost of LED lights restrains the growth to some extent. However, various growth opportunities in emerging economies are expected to create a number of opportunities in the industry.
The global surgical lights industry was estimated at $2.71 billion in 2018, and is projected to garner $3.83 billion by 2026, registering a CAGR of 4.5% from 2019 to 2026.
The halogen segment to lead the trail till 2026-
Based on type, the halogen segment accounted for more than half of the global surgical lights market share in 2018, and is expected to rule the roost by the end of 2026. This is due to its wide usage in the hospital and ambulatory settings. On the other hand, the LED segment is projected to register the fastest CAGR of 4.6% during 2019–2026.
The major factors that drive the surgical lights market include increase in number of hospitals across the globe, surge in disorders, rise in surgical procedures, and increase in global geriatric population. Further, rise in product availability, significant surge in demand for well-equipped surgical lights for better & enhanced visibility and accessibility of healthcare facilities, and improvement of healthcare infrastructure in the developed economies boost the growth of the surgical lights market. However, high cost of LED & CFL lights and implications caused from their vigorous usage are the factors anticipated to hamper the market growth. On the contrary, technological advancements in these lights and surge in awareness toward patient care are expected to create lucrative opportunities for the market expansion.
North America to maintain its top status in terms of revenue-
Based on geography, North America held the major share in 2018, garnering more than one-third of the global surgical lights market, owing to rise in prevalence of disorders such as cardiac diseases and gynecological diseases, among others. At the same time, the Asia-Pacific region would register the fastest CAGR of 5.3% during the study period. This is due surge in demand for healthcare infrastructure, rise in number of hospitals in emerging countries, increase in healthcare reforms, and increase in technological advancements in the field of healthcare.
Leading players in the market-
- CV Medical
- Getinge AB
- A-dec Inc
- Herbert Waldmann GmbH & Co
- Hill-Rom Services
- BihlerMED
- S.I.M.E.O.N
- Medical GmbH & Co. KG
- Steris plc
- Skytron
Read More: https://www.alliedmarketresearch.com/surgical-lights-market-A06076
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