Market Trends of Global Examination Lights Industry
This section covers the major market trends shaping the Examination Lights Market according to our research experts:
Hospital Segment is Expected to Witness Growth Over the Forecast Period
The increasing need for examination lights in hospitals in ward areas, treatment areas, observation areas examination rooms, waiting and circulation spaces, and operating theatres are driving the growth of the market. In hospital settings, there are many visual tasks with unique lighting demands. Therefore, the examination lighting is designed to achieve high efficiency, hygiene, safety, and well-being of medical staff and patients. Proper lighting is required for healthcare professionals to perform meticulous tasks that might mean life or death for patients. lighting plays a major role in a patient's recovery progress; proper lighting improves sleep, reduces depression, and balances the body's circadian rhythm. Thus, the demand for examination lights is increasing in hospitals in gynecology, cervical screening, dermatology, patient care, and general, and emergency care which is boosting the growth of the market.
The increasing usage of examination lights in various hospital applications such as dermatology is further driving the growth of the market. For instance, in 2020, Promolux launched Promolux LED, custom-made light spectrums using digital LED technology that offers a precise mix of visible radiation to suit the field of clinical dermatology. The importance of visualization and inspection by the naked eye for color, pigmentation, tissue lesions, evaluation of vascular structures, use of visual grading scales, and other assessments depend on the quality of the light source used in practice. Even photographic records can be affected using flash or poor-quality lighting which can distort what the doctor can see in the examination. Thus, the increasing application of examination lights in the field of dermatology is driving the segment growth which is propelling the market.
Additionally, the number of patient admissions is increasing. For instance, as per the American Hospital Association (AHA) survey, the total number of hospital admissions in the country reached 33.2 million in 2020 while in 2019, there were around 36.2 million hospital admissions in the United States, and in 2018, there were around 36.3 million hospital admissions. Thus, the increasing number of admissions would generate the need for examination lights as examination lights are used in medical facilities across the world for local illumination of the patient's body during diagnostic procedures and minor procedures such as in the field of dermatology, surgeries, general check-ups, etc.
Examination lights are used with surgical lights that are intended for use in operating theaters. For instance, in 2020, Brandon Medical Co Ltd. launched Coolview CLED23 which delivers the highest lighting performance and color-corrected light, reducing eye strain and making the focus of the light vivid and tissues easily identified. Similarly, The CLED23 is a perfect light for dermatology, ENT, Gynaecology, and sensitive areas such as neonatal and ICU departments. Thus, these lights are highly utilized in operation theatres. Thus, the advantages offered by these lights are likely to generate demand for these products in operation theatres which would fuel the segment growth over the forecast period.
The Key players dealing in this segment are providing technologically advanced products to gain a higher market share. For instance, Dräger's state-of-the-art operating theatre lights, examination lights, and video systems offer excellent illumination in hospital settings. Some of the key hospital examination lights offered by this company are Dräger Polaris 600, Polaris 50, and Polaris Multimedia. Such a technologically advanced product is likely to increase its adoption over the forecast period among hospital settings, thereby fuelling the segment growth.
Furthermore, the increasing number of hospitals in emerging economies along with an increasing acceptance of advanced LED lights in various diagnostic procedures and different departments are the major factors driving the growth of the examination lights market. According to the data published by the India Brand Equity Foundation (IBEF) in 2020, the presence of tier-1 hospitals in India was around 76% in 2021 and was anticipated to witness continuous growth shortly due to an increasing patient pool, a rise in chronic diseases, and favorable government policies. This factor is likely to fuel the demand for examination lights in the world. Thus, the rising hospitals and rising hospital admissions are further generating the demand for the examination lights which is thereby propelling the market growth.
North America is Expected to Dominate the Examination Lights Market
In 2020, North America dominated the global Examination Lights market, followed by Europe. North American examination lights market is expected to hold the dominant position in the global market owing to the rising number of surgeries being performed in the region. As per the survey conducted by HCUP (Healthcare Cost and utilization Project) in 2019, ambulatory surgery clinics recorded over 11.9 million surgeries in the United States. The higher incursion of technologically advanced products along with the rising levels of healthcare spending has resulted in the expansion of hospital and healthcare infrastructure in the United States. The strong presence of many multi-specialty hospitals, thriving preference for minimally invasive surgical procedures, and swelling adoption of technically advanced LED lights are other key factors set to propel the regional expansion.
Moreover, the companies in the region are focusing on collaborations & novel product launches for business expansion. For instance, in January 2022, Stryker announced a collaboration with Texas Health Hospital Mansfield which is the preliminary medical establishment that has devoted to accepting the complete collection of Stryker products including examination lights to minimize risks for healthcare workers and patients in the operation room. Similarly, in 2020, Delta Medical International introduced a range of examination lights for use in different clinical situations. The examination lights of the company come in a range of designs, including a fully flexible 'gooseneck' arm or spring-balanced double articulated arm, making them easy to position and direct the light exactly where it is needed. Thus, increasing product launches are boosting the growth of the respective market in the North American region.
Thus, the aforementioned factors are responsible for the growth of the respective market in the region.