New York, NY -- (SBWIRE) -- 06/20/2016 -- Persistence Market Research announces the release of a new research report titled "Global Market Study on Surgical Lamps: Asia to Witness Highest Growth by 2020". According to the report, the global surgical lamps market is projected to grow from US$554.9 mn in 2014 to US$728.9 mn in 2020, registering a 4.60% CAGR during that period.

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There are a number of factors driving and challenging the surgical lamps market. According to the report, growing demand for better healthcare facilities, technological advancements and innovations, rise in number of surgeries, and increase in number of surgical centers have contributed towards the growth of the surgical lamps market. The shift from halogen lamps to LED lamps and the increasing demand from developing economies hold immense potential for future growth. However, economic slowdown in certain countries, high cost of LED and CFL lights, and certain complications associated with CFL lamps impede the development of the overall market.

The surgical lamps market is segmented on the basis of four key parameters: product type, technology, type of light, and geography.

By product type, the surgical lamps market is segmented into surgical headlight lamp, laser light lamp, ceiling mounted surgical lamp, dental light lamp, and others. By type of light, the major segments include vein light, special germicidal ultraviolet ray light, homogenous light, and high color rendering index (CRI) light. Of these, CRI lamps dominated the overall surgical lamps market and vein lights are anticipated to emerge as the most rapidly developing segment by 2020. By technology, the surgical lamps market is segmented into CFL lamps, LED lamps, ad halogen lamps. Of these, LED lamps held the largest share of the overall market and this segment is also projected to register the highest growth rate during the forecast period.

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On the basis of geography, the surgical lamps market is divided into Asia, Europe, North America, and Rest of the World. North America accounts for the largest share of the global market and is projected to expand at a 4.80% CAGR from 2014 to 2020, rising from a value of US$234.2 mn in 2014 to US$310.1 mn by 2020. The growth in this region can be attributed to innovative applications of cost-saving surgical lights, increasing number of surgeries, and various initiatives by the government to boost the use of energy-efficient surgical lamps in healthcare facilities.

Asia is anticipated to emerge as the fastest growing regional market for surgical lamps fueled by surge in the number of surgeries especially in Japan, China, and other Southeast Asian countries. Rise in aging population, growing demand for cost-effective and energy-efficient lamps, and increasing prevalence of chronic diseases drives the Asia surgical lamps market.

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The most prominent players competing in the global surgical lamps market include STERIS Corporation, A-dec, Inc., KLS Martin Group, Welch Allyn, DRE INC., Stryker Corporation, Koninklijke Philips N.V., Skytron, LLC, Herbert Waldmann GmbH & Co. KG, and Integra LifeSciences Corporation.

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