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HOSPITAL LIGHTING SYSTEM MARKET – INDUSTRY ANALYSIS BY PRODUCT, TECHNOLOGY, APPLICATION AND GEOGRAPHY FORECAST 2023

The hospital lighting system market is projected to reach $8.5 billion by 2023, growing at a CAGR of 7.6% forecast to 2023.
Hospital lighting system overcomes the built-in constraints of traditional lighting solutions, which use high-intensity discharge, incandescent and halogen lights. It offers numerous benefits over conventional lighting solutions, including energy-efficiency, longer lifespan and durability.
Hospital lighting systems are used for wide-ranging applications, including patient wards & suites, surgical suites, diagnostic & imaging center, lobbies, corridors and parking areas & garages. Price reduction of LED technology has elevated its demand in several application segments.
The adoption of troffers is witnessing a rapid growth, as they are used in patient wards, corridors and stairs in hospitals. They offer superior color quality as compared to traditional hospital lighting, do not require ceiling alterations and offer high efficiency, thereby cutting energy consumption to 50%.
The fastest growth in hospital lighting system market is expected in Europe. Hospitals in Europe are looking for lighting solutions that can reduce energy consumption to 60% and thus bringing down the operating cost of the medical facilities. The increasing investment in healthcare institutions by the government of various countries is a prime factor behind the growth of the hospital lighting system market.
Some of the major players also include Acuity Brand Inc., Cree Inc., Zumtobel Group AG, Hubbell Lighting, Inc., Herbert Waldmann GmbH & Co. Kg, Trilux Gmbh & Co. Kg, and Orion Energy System Inc.

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