Market Trends of Surgical Lights Industry
The LED Lights Segment is Expected to Witness Healthy Growth during the Forecast Period
For open surgery, LED lighting is the most commonly used light source. They help reduce shadows in open surgery. Due to its long-term cost savings, quantity and quality of illumination, and sufficient illumination intensity, the LED lights segment is projected to grow significantly.
Moreover, LED lighting is most widely accepted in surgical settings, and it has several advantages, such as shadow dilution, correlated color temperature, homogeneity, and color rendering index over traditional lighting. Also, other surgical lights, such as halogen or gas discharge bulbs, use more power than those LEDs, making them less preferable. Such factors are expected to propel the segment's growth during the forecast period.
Furthermore, rising strategic initiatives such as launches and technological advancements by key market players are boosting the segment's growth during the forecast period. For instance, in November 2022, Mindray globally introduced its latest HyLED C8/C7/C5 surgical light series. This new series, the HyLED C, upholds the signature sleek design of Mindray's surgical lights and integrates cutting-edge optical technologies, enhancing vision and flexibility for operating room professionals.
Thus, owing to the advantages of LED surgical lights and increasing launches by market players, the LED light segment is expected to witness healthy growth during the forecast period.
North America is Expected to Hold a Significant Market Share During the Forecast Period
North America is expected to register a significant market share in the surgical lights market due to the rising number of hospital admissions and investments to expand operating room devices.
The increasing healthcare expenditure, investment in new hospitals and clinics, and the expansion of existing ones are expected to boost growth in the studied segment during the forecast period. For instance, in February 2022, the Definitive Healthcare's Hospitals & IDN database stated that there are 8,214 hospitals in the United States. Texas, California, and Florida rank among the top three, with 915, 553, and 372 hospitals, respectively. Thus, the increase in the number of hospitals is expected to increase the operating rooms, which in turn promotes the studied market's growth in the region.
Also, in March 2022, the Ontario government, a Canadian province, invested up to USD 41.8 million in the new Grey Bruce Health Services Markdale Hospital for expansion and other activities like the purchase of instruments, which is expected to have a positive impact on the growth of the segment. Thus, an increasing number of hospitals would increase the demand for the adoption of surgical lights, which is expected to boost the market's growth during the forecast period.
The rising launches by market players also contribute significantly to the market's growth. For instance, in March 2022, Leviton Lighting brand Viscor launched a new Certolux MSU-DFX luminaire featuring 365DisInFx UVA technology designed to promote cleaner surgical suites. Similarly, in January 2023, Activ Surgical recently marked a milestone by successfully conducting its inaugural artificial intelligence (AI)-powered surgery with its flagship product, ActivSight Intelligent Light. This innovative tool offers superior visualization and immediate surgical insights during operations.
Thus, the abovementioned factors, such as the rising number of hospitals and product launches, are expected to expand the studied market within the region during the forecast period.
