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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.
This crucial piece of information is presented by Fortune Business Insights, in the report, titled, “Examination Lights Market Size, Share & COVID-19 Impact Analysis, By Type (LED and Halogen); By End User (Hospitals, Clinics, and Others), and Regional Forecast, 2021-2028.”
As per our analysts, the influx of technology in exam lights, along with increasing focus on R&D by market players, has led to introduction of new lights, with shadow-less technology, efficient white lighting, and other features. This in turn has impacted the general market demand in an optimistic manner.
Considerable Deterioration in Amount of Diagnostic Courses to Hinder Market Growth
The outbreak of COVID-19 has had an unfavorable effect on the examination lights market growth. Fundamental companies recorded a severe decline in their revenue levels from the sales the light product owing to the substantial diminishing in the amount of analytic inspection tests being directed during the COVID-19 guidelines.
Furthermore, the government imposed constrictions owing to the COVID-19 led to a massive worsening in medical tourism and hospital visits for diagnostic checkups all over the world. This additionally restricted the employment of this type of lights during 2019-2020.
Stryker Declares Merger with Texas Health Hospital Mansfield to Join Journey to Zero
Stryker made an announcement regarding a collaboration with Texas Health Hospital Mansfield, which is the preliminary medical establishment that has devoted to steering the Journey to Zero, accepting the complete collection of Stryker products to back their journey to eradicate harm for healthcare workers and patients in the operation room.
Journey to Zero focuses on refining protection in operating theaters for both, the patient as well as the medical assistants by aiding customers to embrace the full suite of Stryker products envisioned to decrease or eradicate the most general dangers and threats in the operation room, comprising all the blind spots, drug alteration, clinical smoke, splashes and spills, recollected surgical sponges, slips, trips and falls.
To get a detailed report summary and research scope of this market, click here:
https://www.fortunebusinessinsights.com/industry-reports/examination-lights-market-101944
Prompt Shift Towards LED Technology in Developing Economies to Bolster Growth
The demand for these lights is anticipated to observe an optimistic growth route during the forecast period. Huge growth is primarily owing to surging demand for novel unit shipments of exam lights across numerous medical amenities. Rise in amount of medical services such as medical units and other hospital-grounded outpatient sites, has resulted in an upsurge in implementation of these lights through these settings.
Original Product Launch Testimonies by Prime Players to Spur Market Growth
The significant players present in the market utilize several strategies to elevate their position in the market as dominating companies. One such decisive approach is securing companies to amplify the brand value among users. Other operative tactic is to recurrently launch pioneering products with fixated study of the market as well as its target audience.
Industry Developments:
List of Key Players Mentioned in the Report:
Further Findings:
Based on technology, the global market is segmented into LED and halogen. Among technology, the LED segment dominated the market in 2020.
Europe held the maximum examination lights market share and stood at USD 74.0 million in 2020. Higher emphasis of national and regional government agencies towards the early diagnosis, along with the higher awareness among general population towards prevalence of disease conditions has been instrumental in driving the growth of the market.
Table of Segmentation:
ATTRIBUTE | DETAILS |
Study Period | 2017-2028 |
Base Year | 2020 |
Estimated Year | 2021 |
Forecast Period | 2021-2028 |
Historical Period | 2017-2019 |
Unit | Value (USD million) |
Segmentation | Type; End User; and Region |
By Type |
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By End User |
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By Geography |
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