LED Surgical Lights Market worth $3,838 million by 2026, CAGR of 4.5%
Pune, Maharashtra, India, February 23 2021 (Wiredrelease) Allied Analytics –: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.
Allied Market Research published a report, titled, “Surgical Lights Market size was valued at $2,717.5 million in 2018, and is expected to reach $3,838 million by 2026, registering a CAGR of 4.5% from 2019 to 2026. North America accounted for the majority of the market share in 2018, and is anticipated to continue this trend during the forecast period.
“Surgical lights Market by Type (Halogen and LED Lights) and Application (Cardiac Surgery, Gynecological Surgery, Neurosurgery, ENT Surgery, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026”
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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.
The cardiac surgery segment to dominate during the estimated period-
Based on application, the cardiac surgery segment accounted for nearly one-fifth of the global surgical lights market revenue in 2018, and is anticipated to maintain the lion’s share from 2019 to 2026. In addition, the same segment is expected to grow at the fastest CAGR of 5.3% throughout the forecast period.The increased incidence of cardiovascular disorders and surge in surgical procedures for their treatment have fueled the growth of the segment.The market also analyses segments including gynecological surgery, neurosurgery, and ENT surgery.
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.
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Leading players in the market-
Getinge ABA-dec Inc
Herbert Waldmann GmbH & Co
Medical GmbH & Co. KG
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