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The global surgical lights market size is expected to gain momentum by reaching USD 852.8 million by 2027. This is attributable to the increasing number of surgical procedures that propel the demand for these lights across the globe. Fortune Business Insights, in its latest report, titled, “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, 2020-2027.”, observes that the market stood at USD 596.9 million in 2019 and is projected to exhibit a CAGR of 4.6% between 2020 and 2027.
Gentex Launches Smart Lighting System for Medical Systems
In January 2020, Gentex Corporation, a leading electronic solutions provider, announced the launch of its smart lighting technology in collaboration with Mayo Clinic for several medical applications. The innovative technology consists of a series of ceiling-mounted surgical lights with dynamically adjusting LED arrays and a series of flush that efficiently focuses illumination whenever required. Additionally, the smart system adopts hand gestures and voice commands, along with an integrated machine-vision optical camera to establish the desired lighting zone during a surgery.
Gentex Chief Executive Officer, Steve Downing, said, “We have a rich history in combining camera systems with controlled algorithms that effectively manipulate light. However, medical applications bring in a host of exciting opportunities and challenges. We are thankful for our cross-disciplinary collaboration that has led to the development of an advanced prototype lighting system. We believe that our innovation has the potential to transform the way patient care is delivered.” This initiative by the company is expected to strengthen its position in the global operating lights market and boost sales revenue in the forthcoming years.
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Increasing Surgical Procedures to Favor Growth
The increasing prevalence of chronic disease and the rising per capita healthcare expenditures are driving the demand for surgical procedures across the globe. The massive increase in surgical procedures such as cardiovascular, dental, and neurological are boosting the adoption of these lights for a longer duration in the operation theatre. For instance, according to the data by Eurostat, in 2017, around 4.7 million cataract surgeries were conducted across several EU member states. The increasing adoption of surgical procedures is expected to contribute to the global surgical lights market growth during the forecast period.
Key Players are Capitalizing on Opportunities by Diversifying Their Product Portfolio
The global operating lights market is consolidated by the presence of major players such as Getinge AB and HillRom Services, Inc. These companies are striving to maintain dominance by diversifying their product portfolio by introducing innovative surgical lights to capitalize on the lucrative opportunities present in the global marketplace. The other major companies are adopting strategies such as merger and acquisition, partnership, and collaboration that is anticipated to drive the global market in the forthcoming years.
Industry Development:
List of the Companies Operating in the Global Market:
Further Report Findings:
Table of Segmentation:
ATTRIBUTE | DETAILS |
Study Period | 2016-2027 |
Base Year | 2018 |
Forecast Period | 2020-2027 |
Historical Period | 2016-2018 |
Unit | Value (USD Million) |
| By Technology
|
By End User
| |
By Geography
|