[122 Pages Report] The increasing adoption of led based lighting products to drive the hospital lighting market to reach USD 7.03 billion by 2021

The global hospital lighting market is segmented based on technology, products, applications and region. On the basis of technology, the market is segmented into fluorescent, LED, renewable energy and other technologies fluorescent technology segment is expected to account for the largest share of the market in 2016. Factors such as, cheaper cost and low operational cost are driving this market.

Based on product, market is segmented into troffers, surface-mounted lights, surgical lights and other products. Troffers segment is expected to account for the largest share of the market during the forecast period. Growth in this segment is driven by factor such as increasing adoption of LED based troffers in hospitals globally.

On the basis of applications, the hospital lighting market is classified into patient wards & ICUs, examination rooms, surgical suites and other applications. In 2016, the patient wards & ICUs segment is expected to account for the largest share of the market. This large share can be attributed to increasing number of hospitals in emerging countries such as India and China.

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 increasing adoption of LED based lighting products and increasing number of hospital in emerging economies are the key factor driving the market growth. Moreover, increasing government support to energy efficiency program for hospitals is contributing to the growth of market.

In 2016, North America is expected to account for the largest share of the market, followed by Europe. North America will continue to dominate the market in the forecast period due to ample government support and utility funding in order to promote energy efficiency projects and to support the modernization of hospital lighting industry. However, the market in Asia is expected to witness the highest CAGR, with the growth centered on China, Japan, and India.

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.).

Target Audience

Healthcare service providers (hospitals and surgical centers)

Manufacturers of lighting Products

Vendors and Distributors of Hospital Lightings

Hospitals and clinics

Research Institutes

Venture Capitalists and Investors

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Scope of the Report:

This research report categorizes the hospital lighting market into the following segments:

Hospital lighting Market, by Product

Troffers

Surface-mounted Lights

Surgical Lamps

Other Products

Hospital lighting Market, by Technology

Fluorescent

LED

Renewable Energy

Other Technologies

Hospital lighting Market, by Application

Patient Wards & ICUs

Examination Rooms

Surgical Suites

Other Applications

Hospital lighting Market, by Region

North America US Canada

Europe Germany U.K. France Rest of Europe (RoE)

Asia China Japan India Rest of Asia (RoA)

Rest of the World (RoW)

Customization Options:

Company Information: Detailed company profiles of five or more market players

Opportunities Assessment: A detailed report underlining the various growth opportunities presented in the market

Product Analysis

Product Matrix, which gives a detailed comparison of the product portfolios of the top five companies

Company Information

Detailed analysis and profiling of additional market players (Up to 5)

Market Dynamics

Advantages of LED lighting over conventional lighting to drive the global hospital lighting market to reach USD 7.03 billion by 2022

Modern lighting products, such as LED and OLED, are comparatively more expensive than most conventional lighting products; however, their total operational cost is lower than CFL and incandescent-based lighting. According to the Department of Energy (U.S.), the average operational cost of an LED bulb for 23 years is around USD 38 as compared to USD 48 for incandescent bulbs and USD 201 for CFL lighting. Owing to these operational cost advantages, the adoption rate of LED-based lighting fixtures in hospitals is on the rise. In 2014, LED Lighting had a higher adoption rate of 10.1% in hospitals.

LED and OLED are highly energy-efficient lighting products that have the potential to change the future of the global lighting industry.

Increasing number of hospitals in emerging economies to drive the hospital lighting industry across developing countries during the forecast period

Across the globe, the number of hospitals is on the rise, but this increase is particularly significant in emerging economies such as China and India. The sharp rise in the number of hospitals in this region can primarily be attributed to the rapidly growing population and increasing healthcare expenditure in these countries. This increasing number of hospitals in the emerging economies will subsequently lead to an increase in the number of hospital wards and operation theatres, which in turn will drive growth in the hospital lighting market.

Patient wards & ICUs to register the highest CAGR during the forecast period

Patient wards include general wards, emergency wards, and patient admission rooms, and intensive care (ICU) units include SICU (surgical ICU), CCU (cardiac ICU), and NICU (neonatal ICU). LED recessed troffers are used in patient wards & ICUs. Troffers can save up to 70% of power consumption (making them more cost effective) and have a longer life span (~25 years) as compared to other sources of light fixtures in hospitals. TRILUX Lighting Ltd. (U.K.), Eaton (Ireland), and Cree Inc. (U.S.) are the prominent players offering lighting solutions for patient wards and ICUs.

Key Questions

What are the business growth strategies adopted by key market players to maintain their market position across key geographies?

What is the existing developmental pipeline of major lighting technologies among manufacturers?

Growing adoption of LED lights procedures is a key trend in clinical management. What impact this will have on hospital lighting market during the forecast period?

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 increasing adoption of LED based lighting products and increasing number of hospital in emerging economies are the key factor driving the market growth. Moreover, increasing government support to energy efficiency program for hospitals is contributing to the growth of market.

This market is segmented based on technology, products, applications and region. On the basis of technology, the market is segmented into fluorescent, LED, renewable energy and other technologies fluorescent technology segment is expected to account for the largest share of the market in 2016. Factors such as, cheaper cost and low operational cost are driving this market.

Based on product, market is segmented into troffers, surface-mounted lights, surgical lights and other products. Troffers segment is expected to account for the largest share of the market during the forecast period. Growth in this segment is driven by factor such as increasing adoption of LED based troffers in hospitals globally.

On the basis of applications, the hospital lighting market is classified into patient wards & ICUs, examination rooms, surgical suites and other applications. In 2016, the patient wards & ICUs segment is expected to account for the largest share of the market. This large share can be attributed to increasing number of hospitals in emerging countries such as India and China.

The global hospital lighting market is segmented into four major regions North America, Europe, Asia, and Rest of the World. In 2016, North America is expected to account for the largest share of the market, followed by Europe. North America will continue to dominate the market in the forecast period due to ample government support and utility funding in order to promote energy efficiency projects and to support the modernization of hospital lighting industry. However, the market in Asia is expected to witness the highest CAGR, with the growth centered on China, Japan, and India.

Prominent players in this Hospital Lighting 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.).

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