(EMAILWIRE.COM, January 17, 2019 ) Advantages of LED lighting over conventional lighting to drive the global Hospital Lighting Market to reach USD 7.03 billion by 2022
Modern lighting products, such as LED and OLED, are comparatively more expensive than most conventional lighting products; however, their total operational cost is lower than CFL and incandescent-based lighting.

According to the Department of Energy (U.S.), the average operational cost of an LED bulb for 23 years is around USD 38 as compared to USD 48 for incandescent bulbs and USD 201 for CFL lighting. Owing to these operational cost advantages, the adoption rate of LED-based lighting fixtures in hospitals is on the rise. In 2014, LED lighting had a higher adoption rate of 10.1% in hospitals.

LED and OLED are highly energy-efficient lighting products that have the potential to change the future of the global lighting industry.

Increasing number of hospitals in emerging economies to drive the hospital lighting industry across developing countries during the forecast period

Download the PDF Brochure@
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=207496480

Across the globe, the number of hospitals is on the rise, but this increase is particularly significant in emerging economies such as China and India. The sharp rise in the number of hospitals in this region can primarily be attributed to the rapidly growing population and increasing healthcare expenditure in these countries. This increasing number of hospitals in the emerging economies will subsequently lead to an increase in the number of hospital wards and operation theatres, which in turn will drive growth in the hospital lighting market.

Patient wards & ICUs to register the highest CAGR during the forecast period

Patient wards include general wards, emergency wards, and patient admission rooms, and intensive care (ICU) units include SICU (surgical ICU), CCU (cardiac ICU), and NICU (neonatal ICU). LED recessed troffers are used in patient wards & ICUs. Troffers can save up to 70% of power consumption (making them more cost effective) and have a longer life span (~25 years) as compared to other sources of light fixtures in hospitals. TRILUX Lighting Ltd. (U.K.), Eaton (Ireland), and Cree Inc. (U.S.) are the prominent players offering lighting solutions for patient wards and ICUs.

The global hospital lighting market is segmented into four major regions North America, Europe, Asia, and Rest of the World. In 2016, North America is expected to account for the largest share of the market, followed by Europe. North America will continue to dominate the market in the forecast period due to ample government support and utility funding in order to promote energy efficiency projects and to support the modernization of hospital lighting industry. However, the market in Asia is expected to witness the highest CAGR, with the growth centered on China, Japan, and India.

Talk to our Research Experts for More Detailed Information@
https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=207496480

Prominent players in this market are General Electric Company (U.S.), Acuity Brands Lighting Inc. (U.S.), Cree Inc. (U.S.), Eaton Corporation PLC (Ireland), Hubbell Incorporated (U.S.), Koninklijke Philips N.V. (Netherlands), and Zumtobel Group AG (Austria). Other players in this market include Herbert Waldmann GmbH & Co. KG (Germany), KLS Martin Group (Germany), and Trilux Lighting Ltd (U.K.).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com