Global Examination Lights Market Size

Examination Lights Market Analysis

The examination lights market is expected to register a CAGR of 4.0% over the forecast period, 2022-2027.

The advent of COVID-19 resulted in burdening of healthcare infrastructure worldwide as most elective healthcare treatments were postponed. Moreover, the demand for these examination lights witnessed a decline due to a decline in hospital admission of non-covid patients, also the number of surgeries is reduced due to a lack of healthcare professionals, and supply chain & logistic disruption has reduced the demand for the product in the market. Many of the patients suffering from chronic diseases were treated remotely from home to prevent the risk of disease transmission and unburden healthcare facilities. The diagnostic exams and treatment were reduced during covid due to government restrictions, while the examination lights are employed in screening and diagnosis of various diseases, so the market was negatively impacted. This has restricted the employment of this type of light during 2019-2020.

For instance, in 2020, as per the article by the national center of biotechnology Information, there are dip in non-COVID-19 admissions from February to April 2020 and COVID-19 admissions exceeded 20 percent of the non-COVID admissions. While the Non-COVID-19 admissions were substantially lower for patients with pneumonia (44 percent), chronic obstructive pulmonary disease/asthma (40 percent), sepsis (25 percent), urinary tract infection (24 percent), and acute ST-elevation myocardial infarction (22 percent). Thus, the article shows the rate of COVID hospitalizations has increased globally while the rate of hospitalization of non-covid-related was postponed which has reduced the demand for examination lights as their lights are employed in screening and diagnosis of various chronic diseases; thereby declining the market growth. Thus, the market would undergo a negative impact due to a lack of demand for examination lights.

Rising chronic disease such as diabetes, cancer, etc, are generating the need for examination lights as examination lights assists in various screening, diagnostic and surgical procedures; thereby fuelling the market growth. Thus, the Rising patient burden on healthcare facilities worldwide would 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 example, close to 463 million people were diabetic in 2019, as per the International Diabetes Federation (IDF). By 2045, IDF expects this number to reach 700 million. Similarly, the GLOBOCAN 2020 report estimated that there were 19.3 million new cases of cancer and almost 10 million deaths from cancer in 2020. Widespread cases of these chronic and life-threatening diseases have 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. Thus, the increasing application of examination lights in the screening of chronic diseases would propel the market growth.

Additionally, the growth in the types of medical lighting technologies, such as examination lighting systems, specialty lighting, surgical lighting systems, and accessories, is expected to create lucrative opportunities for the examination lights market. The different kinds of examination lights are required in different areas as per the specific requirements. For instance, the examination lights used inwards are different from examination lights used in operation theatres as per different requirements. Thus, this factor is increasing the need for the development of advanced examination lights as per their needs and application. Along with this, technological trends such as IoT and LIFI are likely to develop high demand for examination lights market worldwide. For instance, Visum LED Surgical Lights from Stryker, LLC, are widely used in operational theatres as it has long life and durability. The LEDs are designed for 50,000* hours of use while using up to 38% less energy than traditional halogen lighting. The Visum LED II is designed for the demanding environment it is placed in, allowing for great savings in time and money by combining long-lasting LEDs and durable construction. Thus, the advantages offered by the examination lights are rising its adoption in different areas of healthcare settings which would fuel the market growth.

However, Stringent Regulatory Norms are restraining the demand for the product in the market.