Government Investments in Healthcare to Strengthen Global Medical Lighting Technologies Market Growth
According to the estimations put forth by Inkwood Research, the Global Medical Lighting Technologies Market is anticipated to register a CAGR of 6.31% in terms of revenue during the forecasting period of 2021-2028.
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Forecast
2021-2028.”
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Medical lighting technologies are among the most critical
factors, playing an essential role in surgeries as well as medical
examinations. Surgeons require more than simple lighting while performing
surgeries and various medical procedures. In this regard, medical lighting
technologies provide excellent infrastructure, enabling imaging and control for
examination rooms and operation theatres. Hospital lighting fixtures and
equipment also improve patient experience and the ability of the staff to
deliver a high care level.
Government
Investments in Healthcare to Fuel Market Growth
The rising incidence of lifestyle diseases, technological
advancements, the increased need for affordable healthcare delivery systems on
account of increasing healthcare costs, and rapid health insurance penetration play
a vital role in supplementing the healthcare sector. Moreover, the emergence of
telemedicine and government initiatives such as e-health, in addition to tax
benefits and incentives, primarily facilitate healthcare markets. The industry continues
to grow at a considerable pace due to its strengthening coverage, services, and
elevated expenditure by private as well as public players, thereby facilitating
the market growth.
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ICU is the
Fastest-Growing Application
An intensive care unit (ICU), also termed a critical care
unit (CCU), intensive treatment unit (ITU), and intensive therapy unit, is a
special department of a health care facility or hospital offering intensive
care medicine. LED lightings are used in ICU for comforting patients. For instance,
Charité Clinic in Berlin utilizes LED lighting designed to simulate daylight.
Besides, it is also incorporated into ceiling panels that mimic the sky. Conversely,
Brandon Medical Co Ltd offers medical lighting products. The company’s Coolview
CLED23, offers the highest lighting performance and color-corrected light, thus
minimizing eye strain.
North
America Held the Highest Market Share in 2020
The Asia-Pacific healthcare system is well-recognized globally
for its innovation, quality, and affordability. A rapidly aging population coupled
with the increasing burden of patients with chronic conditions across the
region necessitates efficient health systems with integrated care. The
governments of Asian countries aim to advance their healthcare expenditure in
order to upgrade and expand their healthcare facilities. As a result, they
ensure providing quality healthcare to individuals.
Enterprises with undifferentiated products as well as comprehensive
product portfolios generate intense rivalry across the global market. With firms
expending millions of dollars augmenting their facilities, substantial
investments in research and development further amplify the competition. Therefore,
the industrial rivalry is expected to be high during the forecasting
years.
Key companies operating in the market are Stryker
Corporation, Steris PLC, Draegerwerk Ag & Co KGaA, Getinge AB, etc.
About Inkwood Research
Inkwood Research specializes in syndicated & customized
research reports and consulting services. Market intelligence studies with
relevant fact-based research are customized across industry verticals such as
technology, automotive, chemicals, materials, healthcare, and energy, with an
objective comprehension that acknowledges the business environments. Our
geographical analysis comprises North & South America, CEE, CIS, Middle
East, Europe, Asia, and Africa.
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