Surgical Lights Market size to grow by USD 4,070 Mn by

May 23, 2023 09:06 ET | Source: Market.Us Market.Us

New York, May 23, 2023 (GLOBE NEWSWIRE) -- The Surgical Lights Market size is projected to surpass around US$ 4,058 million by 2032, and it is poised to reach a CAGR of 4.6% from 2023 to 2032. The global surgical lights market size accounted for US$ 2,625 million in 2022. Hospital Ot Light

Surgical Lights Market size to grow by USD 4,070 Mn by

Surgical lights are used in every hospital operation and procedure room, ambulatory surgery center, and dental surgery. It improves the visualization for the surgeon by illuminating the area. It is available in so many designs, and it is flexible enough to help a surgeon with a clear view to perform the surgery.

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The demand for surgical lights is likely to upsurge due to the growing significance of superior patient care across several healthcare facilities and a rise in the number of operating room equipment that got the approval of regulatory authorities. The market for surgical lights is projected to grow even more as a result of rising demand from healthcare professionals and surgeons for well-equipped operating rooms, rising product availability, and increased accessibility to healthcare facilities, mainly in developing countries.

Factors affecting the growth of the surgical lights market

There are several factors that can affect the growth of the surgical lights market. Some of these factors include:

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Top Trends in Global Surgical Lights Market

The expansion of the surgical light market has been driven by technological developments in these devices. The transition from halogen lights to LED technology has significantly fueled demand for these devices in the market. Numerous players in the market are continuously concentrating on R&D in order to offer innovative operating lights in the surgical lights market. To introduce the advanced SurgiLight surgical lighting system, BihlerMed, a prominent player in medical illumination technology and devices, collaborated with View Medical. It is comfortable to use and adjust because the product has a flexible shaft. Due to this, it is possible to position the light source with greater agility and precision.

It is estimated that the sale of surgical lights will likely increase with the increasing number of hospitals. Furthermore, there will be a rise in demand for surgical light around the globe because of the good quality of healthcare facilities. Also, investments made by the government of numerous developing economies in the healthcare sector will likely propel the demand for surgical lights. Additionally, growing medical tourism in emerging countries also increases the demand for the global surgical lights market.

North America held the highest revenue share of 37.2% for the global surgical lights market, and it is estimated to continue its dominance throughout the forecast period 2023-2032. The combination of the healthcare & hospital infrastructure and the faster acceptance of technologically developed LED lights by healthcare facilities in Canada as well as NA is vital for the expansion of the market in NA. Additionally, the demand for new and replacement surgical lights is being propelled by an upsurge in the number of ambulatory surgery centers and the numerous surgical procedures performed in the US.

APAC is projected to hold a dominant market share with the fastest CAGR over the forecast period 2023-2032. Due to the growing number of private players entering the industry and a rapidly expanding infrastructure, there will be a lot of demand for hospitals in APAC.

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By capitalizing on the lucrative demand for advanced healthcare facilities, private players are observing an influx in the healthcare systems of emerging nations with public-private partnerships (PPPs) or directly. Moreover, particularly in developing nations, significant growth opportunities are being presented to healthcare facilities by the substantial investments made by several governments. As a result of unmet medical needs, long patient waiting times, and rising indirect healthcare costs, global demand for new healthcare facilities is expected to upsurge. A private hospital group in Qatar is growing its services by opening new hospitals and other healthcare facilities in the GCC and India. The organization anticipates starting new hospitals in Chennai, Bengaluru, and a few other Indian cities with 350-600 beds.

Even though surgical lights have made huge trends in technology, there are a few drawbacks that may hamper the growth of the market. Infrared heat is created by the light source, and it is unsafe for anyone who comes into contact with it. It may delay the surgery by causing the wound tissue to dry out, especially during longer surgeries. This may also result in burns on staff members and patients when exposed openly. Also, it is projected that this will create an uncomfortable working environment for the surgeon and the entire surgical team. Therefore, market expansion is predicted to be hindered by all these factors.

Numerous technological developments in these lights and an upsurge in awareness towards patient care are estimated to have different growth opportunities for the expansion of the market. Increasing investments in operating room equipment, an increasing geriatric population globally, and an increasing number of hospitals are the major factor that will likely propel the growth of the market. Furthermore, a significant increase in demand for well-equipped surgical lights, an increase in product availability, development in the healthcare infrastructure, and growth in regulatory approvals are the factors that drive the growth of the global surgical lights market.

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Report Segmentation of the Surgical Lights Market

The market is segmented into LED and halogen lights. Due to their easy availability and widespread use, halogen lights dominated the market. On the other hand, LED lighting is anticipated to grow at the fastest CAGR during the forecast period due to rising efforts to enhance increased awareness, the patient experience, and incentive programs to encourage large healthcare facilities to install LED lighting. In addition, it is anticipated that a rise in medical tourism in developing nations will soon support overall market expansion.

The cardiac surgery market is predicted to rise at the fastest CAGR over the forecast period due to the rising incidence of cardiac diseases. According to data released by the World Health Organization, Cardiovascular Diseases (CVDs) account for nearly 37% of the 17 million premature deaths around the globe.

The growing demand for hospital operating rooms and the exponential growth in the numerous advanced healthcare facilities, mainly in countries like the United Arab Emirates, China, Saudi Arabia, and India, is driving extreme demand for these products in the global surgical lights market. The demand for new unit shipments of these products from hospital and ASC operating rooms is expected to be driven by the quickly expanding hospital infrastructure in China and other nations during the forecast period 2023-2032.

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A few reasons for the dominance of companies in the surgical lights market include a core competency, a wide range of options, and a strong brand presence. For instance, Hillrom Services Inc.'s acquisition of Trumpf Medical and Getinge AB's acquisition of Maquet have allied their market positions with a diverse product portfolio and a strong brand presence in the global market.

Recent Development of the Surgical Lights Market

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Surgical Lights Market size to grow by USD 4,070 Mn by

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