"Designing Growth Strategies is in our DNA"
The global medical illumination systems market is witnessing significant growth owing to the growing number of various surgical procedures, including cardiovascular, orthopedic, cosmetic, and other procedures, among the patient population. The systems refer to instruments that are utilized for efficient and precise illumination during surgical procedures.
Increasing Number of Surgical Procedures to Boost the Product Adoption
There is a growing prevalence of chronic disorders, resulting in a rising number of patient admissions in healthcare settings, further supporting the growing number of surgeries globally. The increasing number of surgical procedures is further contributing to the rising demand for medical illumination systems in healthcare settings.
According to data published by the 2023 Hip and Knee Implant Review, the estimated number of hip and knee replacements in the U.S. for 2022, were 765,558 and 1,299,084 respectively. Hip and knee replacements underwent an increase of 3.8% and 5.1% over 2021-2022 respectively.
High Cost Associated with Medical Illumination Systems May Hinder Market Growth
There are growing technological advancements in medical illumination systems, including procedure-specific LED lighting, among others, is resulting in the increased costs associated with the systems. This is further likely to hamper the adoption rate of these products in the market.
Technological Advancements to Offer Lucrative Growth Opportunities
The rising number of technological advancements in medical illumination systems, such as artificial-intelligence-based lighting, procedure-specific lighting, among key players, presents an opportunity for market growth. Rising technological advancements among key players are likely to support the growing adoption for these products in the market.
|
By Product |
By Type |
By Light Source |
By End User |
By Geography |
|
|
|
|
|
The report covers the following key insights:
By product, the market is segmented into instruments and accessories.
The instruments segment held a significant market share in 2023. The growing focus of key players toward research and development activities to launch technologically advanced products is likely to support the segment growth.
By type, the market is segmented into surgical lights, procedure & examination lights, and others.
The surgical lights segment held a substantial market share in 2023. The growth of the segment is due to the rising number of surgical procedures resulting in an increasing demand for medical illumination systems in healthcare settings. The growing demand for these products is likely to support the increasing adoption rate, propelling the segmental growth.
Based on light source, the market is divided into LED, halogen, and others.
The LED segment held a prominent share of the market in 2023. The segmental growth is due to a growing number of product launches for LED-based medical illumination systems, resulting in a rising product adoption rate in the market.
Amongst end user, the market is categorized into hospitals & ASCs, specialty clinics, and others.
The hospitals & ASCs segment dominated the market in 2023. The growth is due to the rising number of hospitals, resulting in an escalating number of patient admissions in hospitals. Along with this, the increasing technological advancements for medical illumination systems products, among other factors, is also likely to support the segment growth.
To gain extensive insights into the market, Download for Customization
Based on region, the market has been studied across North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
North America accounted for the largest market share in 2023. The growth is owing to several factors, including the rising prevalence of chronic disorders, the increasing number of surgical procedures, developed healthcare infrastructure, and adequate reimbursement policies, among others.
Europe is the second-largest market based on the demand for medical illumination systems. The increasing geriatric population, surgical procedures, product launches for technological advanced products are some of the major factors supporting the regional market growth.
Additionally, Asia Pacific is expected to grow due to the rising number of key players operating in the market focusing on acquisitions and mergers among the other players to strengthen its presence in the market. Rising acquisitions and mergers is further likely to support the growing number of innovative products, contributing to the regional market growth.
obal medical illumination systems market is fragmented with the presence of a large number of prominent players such as Stryker, STERIS, Getinge, among others in the market.
The report includes the profiles of the following key players:
Get In Touch With Us
US +1 833 909 2966 ( Toll Free )