Rising number of hospitals and increasing inclination toward energy efficient lighting system are the key factors driving the market demand.
New York, NY -- (SBWIRE) -- 05/02/2019 -- High demand for energy-efficient lighting solutions, especially LED-based, in medical centers is driving the growth of the hospital lighting system market globally. Growing health problems have led to a rise in the number of hospitals, which further require efficient lighting systems in operation rooms, patient rooms, and common areas. Globally, the sector generated revenue of $5,328.1 million in 2017 and is projected to advance at a CAGR of 6.4% during the forecast period (2018–2023).
Hospital lighting system includes the interior and exterior lights of a medical facility. It plays an important role by improving the patient experience and the staff's ability to provide the required level of care with optimum efficiency. Proper lighting relaxes the patient during the treatment and delivers better illumination to doctors and other medical practitioners.
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The hospital lighting system market has been segmented on the basis of product, technology, application, and region. There are various products available in the market, such as surface-mounted lights, recessed lights, wall-mounted lights, and hanging lights, along with step lights, exit lights, and emergency lights.
Among all the products, surface-mounted lights were preferred during the historical period 2013–2017, as these are cost-effective and offer optimal distribution of light in installed areas. This lighting is widely used in patient rooms, operation rooms, entrances, and waiting areas. Nowadays, the demand for products that generate minimum amounts of greenhouse gas emissions is rising. The growing demand for energy-saving lighting systems has, thus, impelled the hospital lighting system market players to come up with innovative lighting technologies, such as LED, in diverse product designs.
In 2017, LED lighting technology was one of the major growth factors for the hospital lighting system market, generating the highest revenue (40%) compared to other technologies, such as fluorescent, induction, and incandescent. Such lighting has numerous advantages, such as longer service life, higher flexibility and safety levels, better design variety, and lower maintenance cost and power consumption. With the introduction of advanced lighting solutions (mixed-mode system), the demand for LED lighting has considerably increased, as this technology is most compatible with LED lights.
A mixed-mode system is a combination of artificial and natural lighting, which turns the lighting on or off by sensing the movement of people. Many hospitals are adopting this lighting system in their lobbies and corridors, as these result in 45%–70% light saving. It also helps in reducing carbon dioxide emissions and daylight electricity usage. Such systems are fast replacing traditional lighting solutions, thereby boosting the growth of the hospital lighting system market.
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The hospital lighting system market is presently led by three players, viz. Acuity Brands Inc., Signify N.V., and Osram Licht AG. Players in the market are investing heavily in product development to introduce advanced lighting solutions with better lumens per watt along with higher level of cost-effectiveness and energy efficiency. For instance, Orion Energy Systems Inc. launched four new energy-efficient lighting products in the market in 2017.
Thus, it can be concluded that the demand for energy-efficient lighting solutions is also significantly bolstered by the rising environmental concerns across the world.