Hospital lighting refers to lights that have been designed specifically for use in medical institutions. They are frequently built of sturdy materials and must be able to endure regular cleaning as well as a certain amount of damage. Because hospitals and other medical facilities must be as clean as possible, lighting must be resistant to water and chemicals. Significant factors driving the growth of the hospital lights market include the increasing usage of LED-based lighting fixtures, government initiatives to improve energy efficiency in hospitals, and the advantages of LED over conventional lighting. Furthermore, increased government support for the adoption of energy efficiency lighting solutions in hospitals has led in a rise in the use of LED-based lighting products over traditional lighting, which is boosting the market’s overall growth. Growing developments in lighting technology are likely to create lucrative industry prospects over the forecast period.
Acuity Brands, Dragerwerk, Hubbell Incorporated, Signify Holdings, and BFW Inc. – Prominent Market Participants in Hospital Light Market
Growing government and private investments across both developed and developing countries to build new healthcare infrastructure as well as modernize and expand existing hospital infrastructures is further expected to contribute to the growth of the global hospital lights market. Some of the major projects to mentioned include the new University Hospital of Toledo in Spain opened in 2020, Belgium started the construction of its new Grand Hospital of Charleroi in April 2019, and the construction of Narayan eye foundation private hospital in Karnataka, India. These healthcare infrastructure projects undertaken across the globe are expected to contribute to the rising demand for hospital lights over the years. Moreover, due to the global energy shortage, energy saving, emission reduction, and green development have become the common concerns of countries worldwide. According to statistics, global lighting accounts for about 20% of total power consumption. Lighting in China accounts for about 14% of total power consumption. Therefore, lighting has always been the key area of energy conversation in China and the world. Thus, the adoption of LED lights is growing rapidly and is successfully transforming the definition and scope of lighting technology. Also, the stringent rules proposed by the government and regulatory bodies of the US, Canada, and the European Union on using less efficient lighting have paved the growth path of LED lighting. And this initiatives of the governments towards adoption of LED lights will contribute to transform old hospitals building into new energy efficient hospital and thus drives the market growth.
Acuity Brands, Dragerwerk, Hubbell Incorporated, Signify Holdings, and BFW Inc. – are among the well-known players operating in the global hospital light market and are focused on product development and innovations. The above listing of key players is derived by considering multiple factors such as overall revenue, current hospital light portfolio, new product launches, market initiatives, investment in technology up-gradation, mergers & acquisitions, and other joint activities. A few of the important market initiatives and product developments from the industry are mentioned below:
| Year | News | Country |
| 2022 | Hubbell Incorporated has been recognized as 2022 world’s most Ethical Companies for the second time by Ethisphere. | North America |
| 2022 | GE Current has completed the acquisition of Hubbell Incorporated to enhance its product portfolio. The combined GE Current and Hubbell Incorporated will be branded as Current. | North America |
