Apr 26, 2022
Market for Hospital Lighting Projected to Surge

Research and Markets unveiled in their Hospital Lighting-Global Market Trajectory and Analytics report that the global market is expected to reach $8.5 billion by 2027, growing at a compound annual growth rate (CAGR) of 5%a revised number from the previously projected $6 billion in 2020. Fluorescent lighting is now projected to reach $3.7 billion at a CAGR of 4.4%, while LED lighting has been readjusted to a growth rate of 5.5% for the next seven-year period. Highlights from the report include:

  • The U.S. Hospital Lighting market is estimated at $1.6 billion and China is forecast to reach $1.7 billion, with a CAGR of 7.6% over the 2020-2027 period.
  • Other notable geographic markets include Canada, Germany and Japan; each are forecast to grow at 4.5%, 3.1% and 2.8% CAGR respectively.

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