Hospital Lighting System Market to Register 6.4% CAGR in Near Future
The number of healthcare institutions around the world is growing rapidly because of the growing geriatric population, rising prevalence of chronic diseases, and surging patient base. As per the American Hospital Association, in 2016, the number of hospitals in the U.S. was approximately 15,908.
In addition to this, to provide better facilities to patients, the demand for technologically advanced facilities is increasing. Healthcare service providers are focusing on modifying the hospital environment for minimizing stress of visitors, improving conditions for both patients and staff, and reducing errors. One way of improving the hospital environment is using efficient lighting systems due to which the requirement for hospital lighting systems is on the rise.
According to a report by P&S Intelligence, the global hospital lighting system market generated a revenue of $5,328.1 million in 2017 and is further projected to grow at a CAGR of 6.4% in the coming years. Several applications of hospital lighting system include examination rooms, operating rooms, clean rooms, entrance, carparks, waiting rooms & common rooms, diagnostic & imaging rooms, corridors & staircases, and patient rooms/ward rooms.
Among all these applications, the largest demand for hospital lighting systems was created for patient rooms/ward rooms, as proper installation of lighting systems has a positive effect on the health of the patient by restoring the body’s circadian rhythm.