The global examination lights market size is set to reach USD 259.6 million by 2026, exhibiting a CAGR of 3.5% during the forecast period. Increasing patient burden on healthcare facilities worldwide will act as the central growth driver for this market in the upcoming decade. The incidence of various kinds of diseases and disorders is rising at a rapid rate around the world. For instance, close to 463 million people were diabetic in 2019, according to the International Diabetes Federation (IDF). By 2045, IDF expects this number to reach 700 million. Similarly, the World Health Organization states that 18.1 million new cancer cases were reported in 2018 and the diseases caused 9.6 million deaths in the same year. Widespread prevalence of these chronic and life-threatening diseases has compelled governments across the globe to increase their healthcare spending. As a result, healthcare infrastructures globally are getting more robust and technologically advanced, making this factor one of the leading examination lights market trends.
Highlights of the Report:
- In-depth analysis of various insights, namely, Examination Lights Market trends, growth drivers, opportunities, and other related challenges.
- Comprehensive details of key market players, their core competencies, and Examination Lights Market share.
- The potency of suppliers and buyers to make better business decisions.
- Lists out the market size in terms of volume.
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Key Players Operating in The Examination Lights Market Include:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- Mach GmbH & Co. KG
- Technomed India
- Steris plc.
- Skytron, LLC
- SIMEON Medical GmbH & Co. KG
- Brandon Medical
- Hill-Rom Services Inc.
Few Disadvantages of LED Lights to Put Constraints on Growth
Light Emitting Diodes or LEDs are a landmark advancement in lighting technology as these lights are extremely energy-efficient and have a significantly longer shelf-life compared to conventional halogen lights. However, they suffer from a few limitations which may hold back the examination lights market growth. For instance, the performance of LED lights is dependent on ambient temperature. High ambient temperatures may cause overdriving of LEDs and damage the device. To avoid this situation, effective heat-sinking mechanisms need to be deployed. This factor is vital in the healthcare industry as these lights need to function efficiently across different temperatures in a healthcare facility. Furthermore, LEDs are known to cause ‘blue pollution’ since they emit large quantities of blue light, which is the most intense form of visible light, thereby causing greater amount of light pollution.
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North America to Occupy the Driver’s Seat; Asia-Pacific to Grow at a Considerable CAGR
With a market size of USD 63.8 million in 2018, North America is poised to dominate the examination lights market share in the forecast period. The main forces driving the growth of this market include increasing focus on early diagnosis of diseases, high prevalence of chronic disorders such as obesity, and active adoption of advanced healthcare technologies in the region. Asia-Pacific is anticipated to display a healthy CAGR on account of improving healthcare infrastructure in India and China coupled with entry of private players in the health sector.
Detailed Table of Content:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- New Product Launches, Key Players
- Pricing Analysis, Key Brands/ Key Players, 2018
- Key Industry Developments
- Global Examination Lights Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Technology
- Market Analysis, Insights and Forecast – By End User
- Market Analysis, Insights and Forecast – By Region
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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Reasons to Purchase this Report:
- Comprehensive analysis of the Examination Lights Market growth drivers, obstacles, opportunities, and other related challenges.
- Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
- Identifies market restraints and boosters.
- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
KEY QUESTIONS ANSWERED:
- What is the market size and growth rate of the global and regional market by various segments?
- What is the market size and growth rate of the market for selective countries?
- Which region or sub-segment is expected to drive the market in the forecast period?
- What Factors are estimated to drive and restrain the Examination Lights Market growth?
- What are the key technological and market trends shaping the market?
- What are the key opportunities in the market?
- What are the key companies operating in the market?
- Which company accounted for the highest market share?
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