Increasing Number of Hospitals to Augment Growth of the Hospital Lighting Market

 


Lighting is an integral part of healthcare infrastructure, as it is widely used in intensive care unit (ICU), wards, operation theatres (OT), and in other healthcare settings. Some of these products include LED lighting, CFL, gas discharged lamps, and incandescent lamps. LED (Light-Emitting Diode) lighting is widely used in hospitals due to its high colour rendition index, low power consumption, long life, and high luminous efficacy. LED downlight, LED reflector, and LED panels are some of the commonly used LED lights.

Market Dynamics:

Increasing integration of modern lighting, such as LED and OLED (Organic Light Emitting Diodes), and the advantages of modern lighting over conventional lighting, such as fluorescent lighting, are expected to propel the growth of the hospital lighting market. According to the United States Department of Energy, for 23 years, the average operational cost of an LED is around US$ 38 as compared to US$ 201 for CFL lighting and US$ 48 for incandescent bulbs.

Moreover, increasing number of hospitals in both developed and developing economies and increasing spending on hospital infrastructure is expected to augment the growth of the hospital lighting market. According to the American Hospital Association (AHA) annual survey (FY 2019), there were around 6,090 hospitals in the United States.

Furthermore, government initiatives to improve energy efficiency in hospitals are expected to drive the hospital lighting market growth. According to the Ministry of Power, Government of India, there is a huge potential of energy savings in hospitals and healthcare institutions.

The emergence of COVID-19 and advancements in lighting technologies are expected to offer lucrative growth opportunities for players in the hospital lighting market. For instance, in March 2020, Haichang Optotech launched UVC (ultraviolet light) LED Panel Light for hospital sterilization, disinfection, and cleaning. It is designed with high technical standard for hospital and clean rooms, especially for areas where Coronavirus (COVID-19) is serious.

Competitive Analysis:

Major players operating in the hospital lighting market are Cree Inc., Zumtobel Group AG, Trilux Lighting Ltd., Koninklijke Philips N.V., KLS Martin Group, Hubbell Incorporation, GE Lighting, Eaton Corporation PLC, Herbert Waldmann GmbH & Co. Kg, and Acuity Brands Lighting Inc.

Major players in the market are adopting various strategies to strengthen their market position. For instance, in August 2020, Venstar announced that its LED lighting solution is being used at Mission Community Hospital in Los Angeles County. Venstar was hired by Hallsta, Los Angeles-based healthcare consulting company, to transition the old fluorescent lighting at Mission Community Hospital to LED.


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