A surgical lamp is often used inside operating rooms and by medical personnel while performing intricate surgeries to illuminate the surgical area for close inspection. In 2020, the Surgical Lamp market is valued US$ 727.3 million, and it is anticipated to be around US$ 1,009.8 million by 2027. Over the forecast period, the market is expected to grow at a CAGR of 4.8%. Rising number of surgeries catering to the medical care of patients will drive market growth, and establishment of advanced surgical facilities is expected to influence a robust growth across a wide range of medical clinics and hospitals. Furthermore, the increasing demand for better medical care in remote areas of developing countries would act as a major factor behind rising opportunities for surgical lamp sale, propelling the global Surgical Lamp market growth during the forecast period.
Interesting Facts of Surgical Lamp Market
Major types of surgical lamps include tungsten, quartz, and/or xenon halogens and light-emitting diodes (LEDs)
Average price range of surgical lamps is USD 2,000 to USD 37,000
Average product life of surgical lamps is around 10 years in operation while there is no expiry during shelf life
Surgical lamps can provide bright light for hours with heating patients or staff
Latest surgical lamps can also accommodate or have an integrated camera as well
COVID-19 Impact
The efforts made around the world to stop the spread of COVID-19 have been outstanding, resulting in concrete efforts to revolutionize the global healthcare industry in face of increasing coronavirus incidence. The quick establishment of general and surgical wards for the treatment of infected people has been the most prominent avenue of healthcare spending for majority of governments in developed and developing nations. The necessity for the establishment of new hospitals and efforts aimed at expansion of already established healthcare facilities have incited the demand for purchase and installation of surgical lights, as the average surgery needs for patients suffering from coronavirus and previously identified fatal diseases continue to increase at a breakneck speed. With a surge in hospitalization rate and high admission of at-risk patients requiring immediate medical attention, it has become vital to arrange for strong illumination inside operating rooms, boosting demand for surgical lights. Because of the pandemic, there is a greater demand for surgical lights in remote areas that allow medical personnel to render better medical services to the general public.
Major Revenue Stem from North America
The Asia Pacific market for surgical lamps is expected to grow the fastest, followed by North America. The product demand in North America is expected to be led by major countries such as the United States and Canada. In the United States, according to figures expressed by the U.S. Centers for Medicare & Medicaid Services, the total healthcare spending increased by 4.6 percent to reach $3.8 trillion in 2019. The ready availability of funding and favorable government support would bolster demand for surgical lamps in hospitals and clinics across the United States during the forecast period.
Product Innovation to Remain Major Focus Area for Manufacturers
Some of the major competitors in the global Surgical Lamp market include A-dec, Inc., Avante Health Solutions, Herbert Waldmann GmbH & Co. KG, Integra LifeSciences Corporation, KLS Martin Group, Koninklijke Philips N.V., Skytron, LLC, Steris Corporation, Stryker Corporation, and Welch Allyn.
The industry is extremely dynamic, with increasing Type and end-user demands driving innovation. The following are some recent market developments: Gentex Corporation introduced ceiling-mounted smart lighting units with advanced hands-free technology specifically designed for medical applications that was co-developed with Mayo Clinic. In March 2021, Mediland announced the launch of SunLED Series surgical light for enhanced working atmosphere during delicate surgical procedures.
Frequently asked questions about global Surgical Lamp market
The Surgical Lamp market is expected to grow at a CAGR of 4.8% from 2021 to 2027, from US$ 727.3 million in 2020 to US$ 1009.8 million in 2027.
The development of better healthcare facilities in remote areas, as well as significant financial assistance from governments of developing countries for implementation in public hospitals, are two of the market's key opportunities.
The growing number of complex surgical procedures, a significant increase in establishment of advanced surgical facilities, and rising healthcare expenditure are some of the market's primary driving forces.
North America will dominate the Surgical Lamp market.
Hospitals are expected to have the largest market share by end-users.
