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The global examination lights market size was USD 187.2 million in 2020. The market is projected to grow from USD 193.2 million in 2021 to USD 274.0 million in 2028 exhibiting a CAGR of 5.1% during the 2021-2028 period. The global impact of COVID-19 has been unprecedented and staggering, with the market witnessing a negative impact on demand across all regions amid the pandemic. Based on our analysis, the global market exhibited a decline of -10.2% in 2020 compared to the average year-on-year growth during 2017-2019. The sudden rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.
Examination lights are primarily designed to provide a bright and clear light field to healthcare providers during routine examination or diagnosis. A simplistic design with maximum efficiency in terms of visibility is the pivotal aim of manufacturers while designing this type of light. Various clinical features include an intense light output, cool exteriors during longer duration of usage, excellent color rendition, and maximum life of the light. The influx of technology, along with increasing focus on R&D by market players, has led to the introduction of new products, with shadow-less technology, efficient white lighting, and other features.
Introduction of LED solutions has also offered new economic and clinical benefits to healthcare settings, including longer shelf life of the products, lower power consumption than traditional halogen counterparts, and improved lighting during procedures.
Significant Reduction in Number of Diagnostic Procedures to Hamper Market Growth
The outbreak of COVID-19 has had a negative impact on the examination lights market growth. Key players reported a decline in their revenues from the sales of their products owing to the significant reduction in the number of diagnostic examination procedures during the COVID-19 restrictions.
Moreover, the government imposed restrictions due to the COVID-19 led to a huge decline in patient visits to hospitals and clinics for diagnostic examinations across the world. This further limited the adoption of examination lights during the 2019-2020 period.
However, as the countries across the world are reopening, the market is witnessing the trend of strong sales rebound. This is attributable to the gradual reopening of dental, dermatology and other general practitioners’ clinics and increase in the patient visits for their routine checkups and other diagnostic examinations. This is therefore leading to a rise in the demand for these products.
Rapid Shift Towards LED Technology in Developed and Emerging Countries
The demand for these solutions is projected to witness a positive growth trajectory during the forecast period. High growth is majorly due to increasing demand for new unit shipments of examination lights across several medical facilities. Growth in the number of medical facilities such as clinics and other hospital-based outpatient settings, has led to the surge in adoption across such facilities. Moreover, the rising trend of phasing out higher-energy halogen light bulbs, with an aim to reduce energy emissions and save consumer’s energy bills, has created a lucrative opportunity for the LED-based exam solutions to witness a robust demand across the globe.
This is creating a huge opportunity for market players, as there is a strong focus on expediting the process of replacing the current installed base of halogen lights in existing healthcare facilities, especially in developed countries citing the phase-out plans being rolled out. Moreover, increasing number of new clinics and hospitals providing out-patient facilities will further surge the demand for LED-based products in these newly built infrastructures. Growing number of specialty clinics and hospital based out-patient facilities across the emerging and developed countries will further support the adoption of LED based products.
Technological Advancement in Material, Energy Source and Suspension Design to Boost Demand
Noteworthy technological advancements in materials and energy sources have revolutionized examination lights, and the outpatient care arena is beginning to reap the benefits. Sophisticated products use novel energy sources such as the newest light-emitting diodes (LEDs). Hospitals and other outpatient facilities would receive the major benefit of these innovations due to the typical budget for surgical procedures.
With the advent of new technology pertaining to the suspension design of these lights such as its lighter weight, mobile and more versatile nature, it further expands its application areas. For instance, certain examination lights can easily be used in cosmetic surgeries and other minimally invasive or minor procedures. Hence, improvements in both suspension design and light management have created a new generation that are both significantly brighter and easier to maneuver than the traditional lights.
LED lights offer enhanced clinical benefits over traditional such as accuracy in color rendering, and pure white color, are some of the major factors fueling the demand in healthcare settings globally. Moreover, the average life-span of halogen lights (continuous operation) is 4,000 hours to 6,000 hours, while that of LED lights is 50,000 hours to 60,000 hours. This greater longevity of LED solutions has significantly reduced the replacement rate, leading to improved overall maintenance cost of examination and operating rooms. Moreover, owing to aforementioned benefits, several companies are focusing on the commercialization of advanced LED lights.
The aforementioned factors are anticipated to boost demand for these solutions across all medical facilities, thus supporting a positive growth rate for the global market across the forecast period.
Lack of Standard Regulatory Norms to Hamper Growth
Lack of standard regulatory guidelines associated with examination lights is anticipated to hamper market growth. This is particularly true in developing economies, where healthcare equipment assessments are rare and little to no regulatory controls exist to prevent the imports or use of substandard equipment including examination lights. With the majority of healthcare equipment in emerging countries being imported, this leaves them prey to unscrupulous market influences. Furthermore, increasing cases of healthcare frauds are anticipated to restrict market growth up to certain extent. Examples of these issues include illegal supply contract awards that lead to surge in prices of medical equipment, or simply no trace of what equipment is being sold in a country, nor by whom.
Furthermore, it is crucial to ensure that the sellers of medical lights are authorized dealers as several buyers are deceived with low-quality look-a-like copies and used lights that are sold as new. Authorized dealers clearly mark used and pre-owned lights. They also provide replacement bulbs, replacement handles, and many other accessories and parts. Hence, the aforementioned factor is anticipated to restrict growth of this market up to a certain extent.
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LED Segment to Account for Maximum Share
Based on type, the global market is segmented into LED and halogen.
Among type, the LED segment dominated the market in 2020. Certain benefits offered by LED lights such as long term cost reduction, quality and quantity of illumination for deep cavities, improved environmental performance, and adequate intensity are projected to boost the adoption of LED lights among the healthcare professionals during the forecast period.
Moreover, the government imposed bans on halogen lights in European countries, Australia, Brazil, and Argentina, coupled with the phasing out of these lights in other regions and countries is anticipated to augment the demand for LED lights during the forecast timeframe.
Clinics Accounted for the Highest Examination Lights Market Share in 2020
Based on end users, the global market is segmented into hospitals, clinics, and others.
The clinics segment held the dominating share in 2020. Exponentially growing number of clinics including dental, gynecology, and orthopedic clinics globally, is leading to a higher demand for examination lights from these healthcare settings. For instance, according to a research article published by ScienceDirect, the urgent care clinics in the U.S. witnessed a growth of 9.6% from 2018 to 2019.
On the other hand, increasing number of hospitals, and rising number of outpatient visits globally, is leading to increasing demand for this type of lights. This along with the increasing investment by public and private players to launch advanced lights is driving the adoption of these devices in hospitals.
Europe Examination Lights Market Size, 2020 (USD Million)
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Europe to Dominate Market due to Increasing Percentage Of Patient Population Undergoing Diagnostic Examinations
The market size in Europe stood at USD 74.0 million in 2020. Europe held the largest share in the global market. Rising prevalence of dermatological disorders, dental disorders, and other chronic conditions coupled with the higher percentage of the patient population undergoing diagnostic examinations, is driving the demand for these lights among the healthcare settings in the region. This along with the presence of improved healthcare infrastructure is anticipated to favor the region’s dominance during the forecast period.
Market in North America is fueled by higher emphasis of national and regional government agencies towards the early diagnosis, along with the higher awareness among the general population towards prevalence of disease conditions. This has been instrumental in driving the growth of the number of examinations and diagnostic procedures performed each year in the region. For instance, according to the article published by NCBI, more than 13 billion diagnostic procedures are performed every year in the U.S. This is therefore projected to augment the demand for the lights in the region during the forecast period.
On the other hand, the market in Asia Pacific is expected to grow with the highest CAGR. Increasing penetration of market players in emerging countries, high volume of diagnostic examination procedures and rise in the number of healthcare facilities are some of the major factors responsible for the rapid growth of this region.
Latin America and the Middle East & Africa are also projected to register steady growth during the forecast period. High investment by the public sector in the Middle East countries in healthcare infrastructure is projected to fuel the demand for these lights in the region during the forecast period.
Stryker and Hillrom Services Inc. to Remain Dominant Players in Market
The global market is semi-consolidated with major players such as Stryker, STERIS, Hillrom Services Inc., and Getinge AB comprising a dominant market share. These major players are constantly focusing on commercializing their products worldwide, launching new and innovative lights, and entering into strategic partnerships with other players in order to expand their product portfolio.
Other prominent players include, Technomed India, Skytron, S.I.M.E.O.N. Medical GmbH & Co. KG, Dr. Mach GmbH & Co. KG, among others.
An Infographic Representation of Examination Lights Market
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The global examination lights market research report offers a detailed market analysis. It focuses on key aspects such as leading companies, type, and end user. Besides this, it offers insights into the market trends and underlines key industry developments. In addition to the factors mentioned above, the report encompasses several factors that have contributed to the growth of the market over recent years.
Value (USD million)
Type; End User; and Region
By End User
Fortune Business Insights says that the global market stood at USD 187.2 million in 2020 and is projected to reach USD 274.0 million by 2028.
In 2020, the market size in Europe was USD 74.0 million.
The market will exhibit steady growth at a CAGR of 5.1% during the forecast period (2021-2028).
By type, LED segment is the leading segment.
Shift of preference towards LED lights and introduction of new and innovative LED exam products by market players is fueling the demand for in the global market.
Steris Plc., Stryker, and Hill-Rom Services Inc., are top players in the global market.
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