Surgical Lights Market Size, Share, Advanced Technologies, Growth, Industry Forecast Till 2026
Pune, Maharashtra, India, December 15 2020 (Wiredrelease) Allied Analytics –:According to the report, the global surgical lights market was estimated at $2.71 billion in 2018, and is projected to garner $3.83 billion by 2026, registering a CAGR of 4.5% from 2019 to 2026. Significant surge in the number of hospitals and clinics across the globe is the major factor that drives the market growth. In addition, rise in number of surgical procedures contributes to the market growth.
North America accounted for the majority of the market share in 2018, and is anticipated to continue this trend during the forecast period. In addition, it is generally perceived that the overall quality of medical services in North America is higher than in the rest of the world. However, Asia-Pacific is anticipated to grow at the fastest rate during the forecast period.
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Significant rise in surgical procedures, and surge in technological developments in surgical lights drive the growth of the global surgical lights market. On the other hand,high cost of LED lights restrains the growth to some extent. However, various growth opportunities in emerging economies are expected to create a number of opportunities in the industry.
The cardiac surgery segment dominated the surgical lights market in 2018 and is anticipated to maintain its dominance during the forecast period. This is attributed to surge in incidence of cardiovascular disorder across the globe. For instance, according to Centre for Disease Control and Prevention (CDC), heart disease is the leading cause of death for men and women, in the U.S. One person dies every 37 seconds in the U.S. from cardiovascular disease and around 647,000 Americans die from heart disease each year.
Key Findings of the Study:
By type, the halogen segment accounted for the highest market share of 55% in 2018 and is anticipated to grow at the fastest rate during the forecast period.
By region, North America was the major shareholder and accounted for the highest share of 36% in 2018.
By application, gynecological surgery segment is expected to grow at a CAGR of 13.6% during the forecast period.
By region, the Asia-Pacific segment is anticipated to grow at the fastest rate during the forecast period.
The halogen segment to lead the trail till 2026-
Based on type, the halogen segment accounted for more than half of the global surgical lights market share in 2018, and is expected to rule the roost by the end of 2026. This is due to its wide usage in the hospital and ambulatory settings. On the other hand, the LED segment is projected to register the fastest CAGR of 4.6% during 2019–2026.
North America to maintain its top status in terms of revenue-
Based on geography, North America held the major share in 2018, garnering more than one-third of the global surgical lights market, owing to rise in prevalence of disorders such as cardiac diseases and gynecological diseases, among others. At the same time, the Asia-Pacific region would register the fastest CAGR of 5.3% during the study period. This is due surge in demand for healthcare infrastructure, rise in number of hospitals in emerging countries, increase in healthcare reforms, and increase in technological advancements in the field of healthcare.
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Leading players in the market-
Getinge ABA-dec Inc
Herbert Waldmann GmbH & Co
Medical GmbH & Co.
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