February 22, 2024
Hospital Lighting Market

Smart Hospital Lighting Is Driven By Growing Need For Energy Optimization

Hospital lighting involves the use of LED lamps, luminaries, controls, daylight controls, dimming and integrated systems for the overall lighting needs of healthcare facilities. LED lamps are widely used due to their advantages such as long lifespan, energy efficiency, low heat emission and durable construction. LEDs provide focused and glare-free lighting suitable for areas like operating rooms where accurate visibility is required. They are increasingly being incorporated into lighting control systems for automatic on/off switching, dimming and daylight optimization. This helps hospitals save energy and reduce lighting costs substantially over the lifespan of LED products. The integration of intelligent controls and sensors allow for presence detection, scheduling and customized lighting depending on the needs of individual hospital areas like recovery rooms, labs, wards etc. This makes hospital operations more efficient.

The global Hospital Lighting Market is estimated to be valued at US$ 14.57 Bn in 2023 and is expected to exhibit a CAGR of 6.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the major trends in the hospital lighting market is the growing adoption of LED based lighting controls and systems. LED luminaries provide lighting equivalent to traditional sources but consume up to 90% lesser energy. They also last 3-25 times longer than traditional lighting, thus reducing maintenance and replacement costs. Integrating LEDs with occupancy sensors, dimmers and daylight harvesting further optimizes energy usage. Many healthcare facilities are retrofitting their existing lighting infrastructure with networked, sensor-based LED solutions to create “smart buildings”. This improves staff productivity, enhances patient recovery and lowers carbon footprint. Sensors ensure lights switch on only when and where needed thus eliminating waste. The market has also seen a rise in multi-functional, customized luminaries specially designed for different clinical areas.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate as significant investments would be required to manufacture lighting products as per hospital standards and regulations. However, smaller businesses can operate in local markets.
Bargaining power of buyers: The bargaining power of buyers is high given the availability of alternatives in the market and brands. Buyers can negotiate on price and demand customized products.
Bargaining power of suppliers: A few large suppliers exist for components such as LED chips, drivers, and lamps. Therefore, their bargaining power is also high.
Threat of new substitutes: Alternatives such as natural sunlight exist. However, the need for controllable and customized lighting solutions keep the threat low currently.
Competitive rivalry: Being a consolidated market, competition is intense among established players. However, specialized products and services differentiate competitors.

Key Takeaways

The Global Hospital Lighting Market Demand is expected to witness high growth.

Regional analysis: North America dominates the global market currently owing to improved healthcare infrastructure and growing healthcare expenditure. Asia Pacific is expected to grow at the fastest pace due to increasing patient volumes and developing healthcare systems across countries.

Key players: Key players operating in the Hospital Lighting market are Nidec Corporation, AMETEK Inc., ABB Ltd., Hitachi Ltd., Regal Rexnord Corporation, Robert Bosch GmbH, Johnson Electric Holdings Limited, Weg SA, Siemens AG, Toshiba Corp., Rockwell Automation Inc., and TECO-Westinghouse Motor Company. Focus on LED technology, connected lighting solutions and servicing contracts are some key strategies adopted by these players.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it