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Examination Lights Market Size, Share & Industry Analysis, By Technology (LED, and Halogen), By End User (Hospitals, Clinics, and Others) and Regional Forecast, 2019-2026

Region : Global | Published Date: Jan, 2020 | Report ID: FBI101944

 

KEY MARKET INSIGHTS

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Lights are among the most essential equipment in the healthcare industry, where efficient lighting creates a suitable environment for performing medical procedures, providing various benefits to the healthcare providers. These include comfortable working conditions, excellent illumination of the site of examination, and others. Examination lights are primarily designed to provide a bright and clear light field to healthcare providers during routing examination or diagnosis. A simplistic design with maximum efficiency in terms of visibility is the pivotal aim of manufacturers while designing an examination light. Various clinical features of examination lights include an intense light output, cool exteriors during longer duration of usage, excellent color rendition, and maximum life of the light.


Various types of examination lights are offered in the market, including examination lights with stand, headgear examination lights, ceiling mounted examination lights, wall mounted examination lights, among others. Each type of light has a specific purpose where the design plays an important role in delivering the efficiency required. The influx of technology in examination lights, along with increasing focus on R&D by market players, has led to introduction of new examination lights, with shadow-less technology, efficient white lighting, and other features.


Introduction of LED lights has also offered new economic and clinical benefits to healthcare settings, including longer shelf life of the products, lower power consumption than traditional halogen lights, and improved lighting (DB1) during procedures.


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MARKET DRIVERS


“Increasing Number of Healthcare Facilities to Fuel the Demand for Examination Lights”


Healthare systems globally are overburdened with increasing inflow of patients suffering from chronic and other acute conditions and diseases. Increasing prevalence of disease conditions, combined with other factors including government initiatives promoting early diagnosis, improved reimbursement policies, are leading to increasing number of patients undergoing diagnosis. This is further augmented by the increase in per capita healthcare expenditure in emerging countries, which is further fueling the demand for early diagnosis. This has led to overburdening of existing healthcare facilities, including clinics, physician’s offices, and other facilities.


These factors, along with developing healthcare infrastructure in emerging countries, has led to development of  healthcare facilities in these countries. According to the American Dental Association (ADA), the number of large dental clinics in the U.S. grew by an estimated 25% during 2013-2015. Increasing number of patients undergoing diagnosis and examinations in clinics and hospital outpatient settings is driving the demand for expansion of these healthcare settings globally. This, combined with establishment of new clinics, hospitals, and other facilities, is driving the examination lights market demand.


“Technology Advances by Market Players to Boost the Demand for Examination Lights”


The evolution of examination lights, from a simplistic design, a halogen lamp, and other basic features, to the currently advanced LED lights with innovative features, has been prominent owing to R&D focus by market players. Intense focus on R&D, with an aim to offer product differentiation, has led to market players introducing LED examination lights with longer shelf-life, shadow-less lighting, and other clinical and economic features. This is further supported by new erogonmically designed examination lights, headgears, and ceiling-mounted lights offered by market players, which has been instrumental in fueling the demand for these lights.


This has led to increasing demand for these examination lights from small and mid-sized healthcare settings, including dental clinics, physician’s offices, and other outpatient settings. Existing facilities are replacing their examination lights with advanced lights, which is further fueling the demand for these lights in emerging and developed countries.


SEGMENTATION


By Technology Outlook


“LED Segment Dominated the Examination Lights Market in 2018”


LED examination lights have revolutionized the healthcare industry. The introduction of these long-lasting and efficient lights in the market has led to exponential demand for these examination lights, owing to various economical, clinical, and performance benefits they offer. Market players have focused on improving the lighting and illumination provided by LED lights, including features such as spot-free and shadowless illumination, excellent color rendition, among others. These factors have outweighed the benefits offered by halogen examination lights and hence have propelled the growth of the LED examination lights segment in the global market.


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For instance, S.I.M.E.O.N. Medical introduced a mobile version of examination lights, which offers improved portability of the lights within healthcare facilities, reducing the additional installations of examination lights. The product offerings also include features such as removable batteries, which offers additional economic and functional benefits.


By End User Outlook


“Clinics Accounted for Highest Market Share in 2018” 


On the basis of end user, global market is segmented into hospitals, clinics, and others. There is a significant growth in the number of healthcare facilities, including outpatient settings, clinics, physican’s offices, and others globally. Rapidly developing healthcare infrastructure in emerging countries, along with increasing investment by public sector, has been pivotal in growth of these settings.


The inflow of private players in the healthcare sector, through direct investments or through public-private-parnerships in emerging countries, has led to rapid development in healthcare facilities in these countries. This, combined with expansion of current healthcare facilities in these countries and the aging installed base of halogen lights, is fueling the demand for these lights, according to the examination lights market analysis.


REGIONAL ANALYSIS


North America generated a revenue of USD 63.8 million in 2018, and is anticipated to grow at a steady pace during the forecast period. Higher emphasis of regional and national government agencies towards early diagnosis, along with higher awareness among general population towards prevalence of disease conditions, has been instrumental in driving the growth in number of examinations and diagnostic procedures performed each year in the region.


This, along with increasing healthcare expenditure in the U.S. and consolidation of healthcare infrastructure in the country, have promoted the growth in number of clinics, and other outpatient settings in the country. These factors are driving the growth of this market in North America, giving the region a commanding hold on the examination lights market share.


North America Examination Lights Market Size, 2018

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Europe is anticipated to register moderate growth during the forecast period. Primary reason attributed to this moderate growth is the shift of healthcare in European countries towards home care settings and decline in the number of hospitals, especially in countries such as Germany and France. However, shift of preference towards LED examination lights in the region is projected to fuel the demand for new examination lights in the region during the forecast period.


Asia-Pacific is projected to register comparatively higher CAGR during the forecast period. Primary reason attributable to this include rapid development of hospital and healthcare infrastructure in China, India, and other countries. This, along with entry of private players in the healthcare sector, has led to growth in number of small and mid-sized facilities in the reigon.


Latin America and the Middle East & Africa are also projected to register steady growth during the forecast period. High investment by public sector in the Middle East countries in healthcare infrastructure is projected to fuel the demand for examination lights in the region during the forecast period.


INDUSTRY KEY PLAYER


“Stryker and HillRom Services, Inc., to Remain Dominant Players in the Examination Lights Market”


The examination lights market competition is characterized by presence of a large number of domestic players, along with few global leading market players in 2018. A diversified portfolio of examination lights, including portable LED lights, of market players including Stryker, HillRom Services, Inc., among others, is the main reason for the dominance of these players in the global market.


Huge inflow of domestic players including Chinese manufacturers in the examination lights market, offering products at competitive prices, and focusing on expanding their geographical presence is projected to change the dynamics of the global market during the forecast period.


List Of Key Companies Covered:



REPORT COVERAGE


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The examination lights market report presents a comprehensive assessment of the global market by offering valuable insights, facts, industry-related information, and historical data. Several methodologies and approaches are adopted to make meaningful assumptions and views. Furthermore, the report offers a detailed analysis and information as per market segments, helping our readers to get a comprehensive overview of the global market. 


SEGMENTATION








































 ATTRIBUTE



 DETAILS



Study Period



2015-2026



Base Year



2018



Forecast Period



2019-2026



Historical Period



2015-2017



Unit



Value (USD million)



 



By Technology



  • LED

  • Halogen



By End User



  • Hospitals

  • Clinics

  • Others



By Geography



  • North America (U.S. and Canada)

  • Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)

  • Asia-Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia-Pacific)

  • Latin America (Brazil, Mexico, and Rest of Latin America)

  • Middle East & Africa (South Africa, Saudia Arabia, UAE and Rest of Middle East & Africa)



INDUSTRY DEVELOPMENT



  • September 2018: Stryker announced the acquisition of Invuity, a surgical and medical lighting company, at an estimated value of US$ 190.0 million. Through this acquisition, the company aims to strengthen its portfolio in the medical lights market.


Frequently Asked Questions

Based on the detailed study conducted by Fortune Business Insights, the examination lights market was valued at USD 197.1 million in 2018.

Fortune Business Insights has estimated the examination lights market to reach USD 259.6 million in 2026.

The examination lights market is projected to grow at a CAGR of 3.5% during the forecast period.

In 2018, the examination lights market in North America was valued at USD 63.8 million.

Shift of preference towards LED lights and introduction of new and innovative LED exam lights by market players is fueling the demand for examination lights in the global market.

Steris Plc., Stryker, and Hill-Rom Services Inc., are dominant players in the global operating lights market.

Combined presence of domestic and foreign players offering products at competitive prices is one of the key trends in this market.

Examination Lights Market Size, Share and Global Industry Trend Forecast till 2026
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COVID-19 IMPACT ANALYSIS

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