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Business Americas

The global surgical lamps market is anticipated to grow from an estimated $554.9 million in 2014 to $728.9 million by 2020. (Photograph: Oleg Ivanov IL/Shutterstock)
Apr 13, 2015 | Business Americas

Global surgical lamps market to grow significantly by 2020

by Surgical Tribune

NEW YORK, USA: According to a new market report published by U.S.-based company Persistence Market Research, the surgical lamps market worldwide is expected to grow at a compound annual growth rate of 4.6 percent from 2014 to 2020, to reach $728.9 million. While North America is the largest region in the surgical lamps market, Asia represents the fastest-growing region. In addition, the research found that LED lighting is the largest and fastest-growing technology in the market.

Surgical lamps provide optimally bright and shadow-free high-intensity light for the visualization of small and low-contrast objects within the body cavity during surgeries, including neurosurgery, dental surgery, endoscopic surgery and optical surgery.

Globally, the surgical lamps market is witnessing significant growth owing to innovations, along with technological advancements and a rise in the number of surgery centers. Moreover, increasing demand for better health care facilities and the rise in the number of surgeries are driving market growth.

However, complications associated with compact fluorescent light bulbs and the high costs of these, as well as of LED (light-emitting diode) lamps, and the economic slowdown in Europe and Africa have inhibited market growth. Nevertheless, the global surgical lamps market is anticipated to grow from an estimated $554.9 million in 2014 to $728.9 million by 2020 at a compound annual growth rate of 4.6 percent during the forecast period.

In North America, the surgical lamps market is growing owing to increasing numbers of surgeries and initiatives by various government entities to implement energy-efficient surgical lamps in health care facilities. Moreover, innovative applications of cost-saving surgical lamps are boosting growth of the market in the region.

The surgical lamps market in Europe is growing too owing to government initiatives to promote the use of energy-efficient surgical lamps in the region. Furthermore, increasing numbers of surgeries, a growing aging population and the rising incidence of age-related diseases are boosting the growth of this market.

Asia represents the fastest-growing region in the surgical lamps market. This is primarily due to increasing numbers of surgeries in China, Japan and Southeast Asia. Increasing demand for energy-efficient and cost-effective lamps is fueling the growth of this market. Moreover, a growing aging population and the increasing prevalence of chronic diseases are supporting the growth of the market in the region.

Leaders in the surgical lamps market include Stryker Corporation, Skytron and Koninklijke Philips. Other major competitors are KLS Martin Group, Integra LifeSciences Corp., A-dec, STERIS Corp., Welch Allyn, Herbert Waldmann and DRE.

The market report, titled "Global Market Study on Surgical Lamps: Asia to Witness Highest Growth by 2020," was published online by Persistence Market Research at http://www.persistencemarketresearch.com/market-research/surgical-lamps-market.asp.

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