Surgical Lights Market Size, Share & Trends Analysis Report By Technology (LED, Halogen), By Application (Cardiac, Gynecological), By End User (Ambulatory Surgery Centers, Hospital Operating Rooms) And Segment Forecasts, 2019 - 2026

Industry Insights

The global surgical lights market size was estimated at USD 1.5 billion in 2018 and is anticipated to expand at a CAGR of 4.6% over the forecast period. The surge in the number of hospitals, aging population, and prevalence of lifestyle diseases are some of the factors driving the growth. Developing healthcare infrastructure is further expected to further fuel the market.

A rise in regulatory approvals for operating room equipment coupled with rising focus on offering better patient care across different healthcare facilities is expected to drive the demand for surgical lights. Factors, such as rising product availability, high demand for well-equipped operating rooms by healthcare professionals and surgeons, and accessibility of healthcare facilities, especially in emerging economies are projected to further propel the growth of the market for surgical lights.

The rising number of hospitals in developing countries along with an increasing acceptance of advanced LED surgical lights are the major factors driving the growth of the surgical lights market. According to the data published by the India Brand Equity Foundation (IBEF) in 2018, presence of tier-1 hospitals in India was about 40% in 2015 and was expected to witness continuous growth in near future due to the public and private funding and favorable government policies, such as exemptions from taxes and duties for imported medical systems and drugs, and subsidized rates for hospital establishments. This factor is likely to boost the demand for advanced LED surgical lights in the country.

In addition, the initiatives taken by the Indian and Chinese governments to offer improved healthcare, subsidies to organizations for investments in medical facilities, and increasing investments in various healthcare institutions are among the major factors driving the market growth. However, installation cost of the advanced LED lights and lack of awareness about the new installations might restraint the growth of LED lights market.

Technology Insights

On basis of technology, the market is segmented into halogen and LED lights. Halogen lights held the largest market share of 55.7% in 2018, due to easy and widespread availability. On the other hand, LED lights is anticipated to register the fastest CAGR of 6.8% over the forecast period, due to increasing awareness, incentive programs to encourage the large healthcare facilities to install LED lighting, and rising efforts to improve the patient experience. Moreover, increasing medical tourism in developing nations is anticipated to bode well for the overall market growth in near future.

Application Insights

Based on application, the surgical lights market is segmented into cardiac surgery, neurosurgery, gynecological surgery, ENT surgery, and others. The others segment held the largest market share of 76.8% in 2018. The cardiac surgery segment anticipated to register the fastest CAGR of 6.2% over the forecast period, owing to the increasing prevalence of cardiac diseases. According to the data published by the World Health Organization (WHO) in 2017, out of the 17 million premature deaths, about 37% are caused by Cardiovascular Diseases (CVDs) globally.

Gynecological surgery holds the second-largest market share owing to the increasing number of childbirths by C-section throughout the world. According to the Centers for Disease Control and Prevention (CDC), in 2017, ~1,232,339 C-section surgeries were performed in U.S. In addition, the number of gynecologic surgeries is increasing due to the high prevalence of female reproductive system disorders.

End Use Insights

On the basis of end use, the market is segmented into hospital operating rooms, Ambulatory Surgical Centers (ASC), and others. Hospital operating rooms segment is anticipated to hold the largest market share over the forecast period owing to the increasing number of well-equipped hospitals throughout the world. Rising interest of the hospitals in upgrading the Operation Rooms (ORs) is projected to drive the growth. In addition, rising demand for advanced and hybrid ORs and increasing investments in infrastructure for better treatment are also anticipated to drive the growth.

The ambulatory surgical centers segment is expected to expand at the fastest CAGR of 5.8% during the forecast period. The rapid growth of the segment can be attributed to high demand for outpatient surgery centers, as they provides superior healthcare services, affordable treatment, and early discharge compared to the hospitals.

Surgical Lights Market Share Insights

Some of the key market players are STERIS plc; A-dec Inc.; BihlerMED; CV Medical; SKYTRON; Herbert Waldmann GmbH & Co. KG; Getinge AB; Hill-Rom Services; S.I.M.E.O.N. Medical GmbH & Co. KG; and Integra LifeSciences Corporation. These players focus on adopting various growth strategies, such as partnerships, mergers and acquisitions, and expansion of product portfolio, among others.

For instance, BihlerMED, a leader in surgical lights, recently announced the launch of SurgiLight-a next-generation surgical lighting system. The product is an alternative to headlamps and overhead lights and offers enhanced illumination.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2026. For the purpose of this study, Grand View Research has segmented the global surgical lights market report on the basis of technology, application, end use, and region:

• Technology (Revenue, USD Million, 2015 - 2026)

  • LED Lights

  • Halogen Lights

• Application (Revenue, USD Million, 2015 - 2026)

  • Cardiac Surgery

  • Neurosurgery

  • Gynecological Surgery

  • ENT Surgery

  • Others

• End Use Outlook (Revenue, USD Million, 2015 - 2026)

  • Hospital Operating Rooms

  • Ambulatory Surgical Centers

  • Others

• Regional Outlook (Revenue, USD Million, 2015 - 2026)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • Spain

    • Italy

    • France

    • RoE

  • Asia Pacific

    • China

    • India

    • Japan

    • Australia

    • South Korea

    • RoAPAC

  • Latin America

    • Brazil

    • Mexico

    • Argentina

    • RoLATAM

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE

    • RoMEA