Apr 2, 2020   SOURCE: PR NewsWire

Surgical Lights Market to Reach $3.83 Bn, Globally, by 2026 at 4.5% CAGR: Allied Market Research

PORTLAND, Oregon, April 2, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Surgical lights Market by Type (Halogen and LED Lights) and Application (Cardiac Surgery, Gynecological Surgery, Neurosurgery, ENT Surgery, and Others): Global Opportunity Analysis and Industry Forecast, 2019-2026." According to the report, the global surgical lights industry was estimated at $2.71 billion in 2018, and is projected to garner $3.83 billion by 2026, registering a CAGR of 4.5% from 2019 to 2026.

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Drivers, restraints, and opportunities-

Significant rise in surgical procedures, and surge in technological developments in surgical lights drive the growth of the global surgical lights market. On the other hand,high cost of LED lights restrains the growth to some extent. However, various growth opportunities in emerging economies are expected to create a number of opportunities in the industry.

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The halogen segment to lead the trail till 2026-

Based on type, the halogen segment accounted for more than half of the global surgical lights market share in 2018, and is expected to rule the roost by the end of 2026. This is due to its wide usage in the hospital and ambulatory settings. On the other hand, the LED segment is projected to register the fastest CAGR of 4.6% during 2019-2026.

The cardiac surgery segment to dominate during the estimated period-

Based on application, the cardiac surgery segment accounted for nearly one-fifth of the global surgical lights market revenue in 2018, and is anticipated to maintain the lion's share from 2019 to 2026. In addition, the same segment is expected to grow at the fastest CAGR of 5.3% throughout the forecast period.The increased incidence of cardiovascular disorders and surge in surgical procedures for their treatment have fueled the growth of the segment.The market also analyses segments including gynecological surgery, neurosurgery, and ENT surgery.

North America to maintain its top status in terms of revenue-

Based on geography, North America held the major share in 2018, garnering more than one-third of the global surgical lights market, owing to rise in prevalence of disorders such as cardiac diseases and gynecological diseases, among others. At the same time, the Asia-Pacific region would register the fastest CAGR of 5.3% during the study period. This is due surge in demand for healthcare infrastructure, rise in number of hospitals in emerging countries, increase in healthcare reforms, and increase in technological advancements in the field of healthcare.

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Leading players in the market-

    --  CV Medical
    --  Getinge AB
    --  A-dec Inc
    --  Herbert Waldmann GmbH & Co
    --  Hill-Rom Services
    --  BihlerMED
    --  S.I.M.E.O.N
    --  Medical GmbH & Co. KG
    --  Steris plc
    --  Skytron

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SOURCE Allied Market Research