Global Surgical Lamp Market is Estimated to Reach $859 billion by 2024, Says Accurize Market Research
Global Surgical LampMarket report published by Accurize Market Research forecast that the global market is expected to reach $859 billion by 2024; growing at a CAGR of 4.6% from 2017 to 2025. By geography, Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
Rising technological advancementsto drive the global market
The factors supporting the growth of the global surgical lamp market include, increasing need for advanced applications of cost-saving surgical light lamps, increasing number of surgeries, rising technological advancements, and rapid improvements in healthcare facilities. Additionally, government initiatives supporting the implementation of energy-efficient surgical lamps and advancements in surgical procedures would provide opportunities during the forecast period. Though, complications associated with CFLs and high costs of these lamps may hamper the market growth.
Technology, type of light, product type, and geography are the key segments in the global surgical lamp market. Technology segment is sub-segmented into LED surgical lamps, CFL surgical lamps, and halogen surgical lamps. By type of light, the market is bifurcated into colour rendition light, homogenous light, special germicidal ultraviolet ray, vein light, and others. The product type is categorized into ceiling mount surgical lamp, surgical headlight lamp, dental light lamp, laser light, and others.
North America, Europe, Asia-Pacific and rest of the world (RoW) are the geographical segments of the market. North America is further bifurcated into countries namely; U.S., Canada and Mexico. Europe covers countries like Russia, U.K., Germany, France, Italy and Rest of Europe. Asia-Pacific countries include China, India, Japan, South Korea and Rest of Asia Pacific. Rest of the World (RoW) covers South America, Africa and Middle East.
"LED surgical lamps accounted for the largest market share in the technology segment", says Accurize
In the technology segment, LED surgical lamps accounted for the largest share in 2017, followed by CFL surgical light. Vein light is expected to attain fastest CAGR during the forecast period.Ceiling mount surgical lamp and surgical headlight lamp accounted for majority of the share in 2017.
"North America dominated the global market with the highest market share over the forecast period", says Accurize
In 2017, North America and Europe accounted for the popular market share with 41.3% and 28.4%, respectively. Whereas, Asia-Pacific is anticipated to attain fastest CAGR during the forecast period, driven by growing geriatric population, increasing occurrence of lifestyle-related diseases and rising demand for energy-efficient and cost-effective lamps.
Top players in the market
Major companies operating in the market include Welch Allyn, Steris Corporation, Integra LifeSciences Corporation, KLS Martin Group, DRE INC., Stryker Corporation, Skytron, A-dec, Inc., Waldmann GmbH & Co. KG, Koninklijke Philips N.V., and Herbert, among others.
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