company news about “Surgical Lights Market - Forecasts from 2021 to 2026”

The surgical lights market is projected to grow at a CAGR of 5.75% to reach US$1,086.111 million in 2026 from US$734.793 million in 2019.

Surgical light is a medical device used for assisting doctors and surgeons to perform surgical procedures by helping in illuminating the area where surgery is to be performed. Surgical lights are also known as operating lights or surgical overheads. It is mostly a combination of several lights and accessories. The demand for surgical lights is growing due to an increase in the number of hospitals, growth in the number of surgeries, a growing global aging population, and the rising prevalence of lifestyle diseases. Rising investments in healthcare infrastructure, especially in developing economies. Hospitals are focusing on providing better healthcare facilities and equipping hospitals with the best of devices and technology for improving health care services is boosting the market growth of surgical lights.

Supportive government policies and initiatives such as exemptions from taxes and duties for imported medical systems and drugs and subsidized rates for hospital establishments, to improve the country's health facilities are further contributing to the market growth of surgical lights globally. The increasing standards and regulatory approvals required from the government for operating room equipment are also growing the market for surgical lights as manufacturers are increasingly investing to expand their product portfolio as per regulatory standards across different regions or countries. Integra LifeSciences introduced a new Codman in April 2019 a specialty surgical product, including Integra Duo, LED surgical headlight.

The growing geriatric population, due to the adoption of a better lifestyle, availability of better health facilities, and declining birth rate, is another factor that is positively impacting the market growth of surgical lights. According to the World Bank Data, the population ages 65 and above of the total population have increased from 7.49% in 2008 to 8.87% in 2018. Since aged people go through a relatively more number of surgeries, this continuous rise in the aging population will increase the demand for surgeries, thereby leading to the market growth of surgical lights during the forecast period.