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Surgical Lights Market Size, Share & Industry Analysis, By Technology (LED, and Halogen), By End User (Hospitals & ASC’s, Specialty Clinics, and Others (Procedure Rooms, etc.)) and Regional Forecast, 2019-2026

Region : Global | Published Date: Jan, 2020 | Report ID: FBI101952

 

KEY MARKET INSIGHTS

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Surgical lights are center-stage medical devices used in procedure rooms and surgical suites. These devices are pivotal in offering efficient illumination at operating site, for providing optimum visualization  to the surgeon. Surgical lights offer various features including negligible heating over longer durations, shadow-less illumination, and pure white light, which allows the staff to efficiently perform the surgical procedures. There are various types of surgical lights, used for different procedures in a healthcare facility. Also, manufacturers offer products with varied brightness ranges (maximum 160,000 Lux) and different dimensions of surgical lights, including single head, dual head, etc.


Technological advancements in surgical lights have been a mainstay of growth in this market globally. The shift of technology of surgical lights from halogen lights to LED (Light Emitting Diode) technology, has played a crucial role l in fueling the demand for these devices in the operating lights market. Various market players  are  constantly focusing on R&D to offer advanced operating lights in the market. For instance, Trumpf Medical (a part of HIllRom Services, Inc.), offers innovative surgical lights with features such as multi-lens matrix, adjustable color temperature management, and active shadow management for procedures in the operating rooms, surgical suites, and procedure rooms.


The gradual shift of technology from halogen to LED surgical lights is gaining pace especially in emerging countries such as China, India, Brazil, etc., where  healthcare facilities are now focused on replacement of halogen lights with LED lights. The overall cost benefits, combined with improved efficiency during the surgical procedure offered by LED lights, is propelling the operating lights market growth.


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MARKET DRIVERS


“Increasing Demand for Advanced Healthcare Facilities to Drive the  Market”


Healthcare systems in emerging countries are witnessing influx of private players, entering directly or through public-private-partnerships (PPP’s), citing the lucrative demand for advanced healthcare facilities in these countries. Currently, prolonged patient wait times, unmet patient medical needs, and rising healthcare associated indirect expenses are expected to increase the demand for new healthcare facilities globally. Moreover, high investments by various governments are offering significant growth opportunities for healthcare facilities especially in emerging countries. For instance, in 2017, Aster DM Healthcare, a private hospital group in India announced the plan to set-up 5 new hospitals in the country, with one 750-bed facility in Kerala, and few 200-250 bed capacity hospitals in other cities of India.


Similar examples of public private partnerships are witnessed in countries such as Brazil, China, among others, where the public healthcare system is overburdened with the flow of patients. This, along withthelack of advanced facilities, has opened doors for private players. Further to this, it has led to the expansion of existing facilities, leading to increasing number of operating rooms per hospital. The growing number of operating rooms in these healthcare facilities is fueling the demand for new surgical lights..


“Increasing Number of Surgical Procedures to Stoke Demand for Surgical Lights”


The life cycle of a surgical light is measured in hours. An advanced LED surgical light offers a life cycle of an estimated 40,000 hours to 60,000 hours. Increasing number of cardiovascular, neurological, and dental surgical procedures are prominently responsible for the usage of surgical lights for longer duration, which is leading to a comparatively faster replacement of these lights in operating rooms. For instance, according to European Union Statistics, an estimated 82,000 cataract surgeries were performed in Germany in 2016. The  number is expected to increase  two fold by 2020.


This is projected to fuel the demand for new surgical lights and eventually boost the growth of the operating lights market during the forecast period. Also, the exponential increase in the prevalence of chronic conditions, coupled with rising per capita expenditures, is anticipated to boost the number of surgical procedures, resulting into the growth of the market by 2026.


SEGMENTATION


By Technology Outlook


“LED Segment to Register Comparatively Higher CAGR During the Forecast Period”


Increasing preference towards LED technology in healthcare settings is driving the global market. Certain benefits offered by LED lights such as long term cost reduction, quality, and quantity of illumination for deep cavities and adequate intensity of illumination are projected to boost the adoption of LED lights during the forecast period. This is further augmented by the introduction of advanced LED surgical lights by market players, with operational benefits over halogen lights which has proven instrumental in growing preference of surgeons and other key decision makers towards LED technology.


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For instance, Getinge AB, a dominant player in the operating lights marketannounced the launch of its new Maquet PowerLED II, at the Arab Health in Dubai in 2019. Moreover, rising emphasis on utilization of green energy is anticipated to boost the market share of the LED lights during the forecast period.


By End User Outlook


“Hospital & ASC’s Accounted for Highest Market Share in 2018”


The report covers some of the latest operating lights market trends across several end users such as hospital & ASC’s, specialty clinics and Others (Procedure Rooms, etc.). Exponential growth in the number of advanced healthcare facilities especially in countries including Saudi Arabia, UAE, China, and India, and increasing demand for hospital operating rooms are leading to rising demand for surgical lights by these settings in the global market. IHH Healthcare in alliance with Shanghai Hongxin Medical Investment Holding Co. Ltd. and Taikang Insurance Group, constructed a 450-bed hospital in 2017 in Shanghai, China. In 2017, Columbia China undertook the construction of a new 500-bed hospital in Zhejaing Province. The rapidly developing hospital infrastructure in China, along with other countries, is projected to drive the demand for new unit shipments of surgical lights from hospital & ASC’s operating rooms during the forecast period.


REGIONAL ANALYSIS


The market in North America generated a revenue of USD 178.2 million in 2018, and is anticipated to grow at a steady pace over the projected horizon. Consolidation of the healthcare and hospital infrastructure in the U.S. and Canada, along with the rapid adoption of technologically advanced LED lights by healthcare settings in these countries, is pivotal for the market growth of surgical lights in North America.


Increasing number of surgical procedures in the U.S. and substantial growth in number of ambulatory surgery centers in the country are fueling the demand for replacement and new shipments of surgical lights in the country. These factors are attributable to the growth of the market in North America.


North America Surgical Lights Market Size, 2018

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Europe  is projected to register comparatively lower CAGR during the forecast period. Decline in number of hospitals, especially in major European countries including Germany, France, and Italy has been instrumental in lackluster demand for surgical lights in the region.


Asia Pacific is expected to register a significant CAGR during the forecast period and account for a dominant market share by 2026. A rapidly developing hospital infrastructure in Asia Pacific, combined with increasing number of private players entering the hospitals segment, is projected to lead to high demand for surgical lights during 2019-2026. Latin America, and the Middle East & Africa are among the other lucrative regional markets. Strong focus by regional government agencies to offer a developed and advanced hospital infrastructure to patients in countries such as Brazil, Mexico, U.A.E., Saudi Arabia, and other countries is anticipated to drive the adoption of LED surgical lights in these regions during the forecast period.


INDUSTRY KEY PLAYER


“HillRom Services, Inc. and Getinge AB are among the Dominant Players in the Surgical Lights Market”


Hillrom Services Inc., Stryker, Getinge AB, and Steris Plc, are the leading players in the surgical lights market in 2018. A strong brand presence, diverse offerings, and core competencies in the surgical lights segment are some of the major factors attributable to the dominance of these players in the  market. The acquisition of Trumpf Medical by Hillrom Services Inc. and Maquet by Getinge AB have consolidated their market positions with a diverse portfolio of surgical lights, combined with strong brand presence in the global market.


List Of Key Companies Covered:



REPORT COVERAGE


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The 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



  • Hospital & ASC’s

  • Specialty Clinics

  • Others (Procedure Rooms, etc.)



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, Saudi Arabia, UAE and Rest of Middle East & Africa)



 


INDUSTRY DEVELOPMENT


January 2019: Getinge AB, announced the launch of its new Maquet PowerLED II, at the Arab Health, held in Dubai. Through this, the company aims to strengthen its market share.


May 2017: Merivaara Oy, entered into an exclusive distribution agreement with Bender UK, a domestic distributor of operating room equipment, for distribution of its Merivaara Q Flow surgical lights in U.K.   


Frequently Asked Questions

Based on the detailed study conducted by Fortune Business Insights, the surgical lights market value stood at USD 586.4 million in 2018.

Fortune Business Insights has estimated the operaitng lights market to reach USD 833.5 million by 2026.

The surgical lights market is projected to rise at a CAGR of 4.5% during the forecast period.

In 2018, the surgical lights market in North America was USD 178.2 million.

Rapidly developing hospital infrastructure in emerging countries is leading to an increasing number of new operating theaters. This growth in number of operating theaters is projected to fuel the demand for new operating lights, and drive the market.

Gettinge AB, Steris Plc., Stryker, and HillRom Services Inc., are dominant players in the global operating lights market.

Based on the analysis done by Fortune Business Insights, the surgical lights market is expected to witness a significant shift towards LED technology during the forecast period.

Surgical Lights Market Size, Share and Global Industry Trend Forecast till 2026
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