MRI Surgical Light Market Size, Revenue Share, Major Players, Growth Analysis, and Forecast, 2022–2028

The global Surgical Lights market was valued at USD 2,334.6 Million in 2020 and is expected to reach USD 3,301.7 Million by the year 2028, at a CAGR of 4.6%.

The global MRI Surgical Light  Market is expected to reach USD 3,301.7 Million by the year 2028, MRI Surgical Light  are the components used to assist in the operating procedures to provide a clear vision of the cavities, organs, tissues which are under observation. MRI Surgical Light  are intended to lighten the site of surgery. They can provide optimal visualization of small, low-contrast objects at variable depths in incisions as well as body cavities. Therefore, MRI Surgical Light  are an essential component of any operating theatre and provide lighting in surgical suites.

The demand for MRI Surgical Light  is increasing owing to the increasing number of surgical procedures. Moreover, a noteworthy rise in the number of distributors and manufacturers of surgical light across the globe is generating enormous growth opportunities in the market. The key drivers of the MRI Surgical Light  are the growing geriatric population, the increase in the incidences of accidents, escalating technological advancements, and hike in need to carry out surgeries for aesthetic pleasure. For instance, the recent advancements in the market include the increase in the use of the LED lights, which has a lesser tendency to burn the tissues due to the heat generated when used for a longer time. The LED lights provide white light with lower intensity, but a clear vision and hence are useful for operations that are carried out for the long term. Additionally, as per the statistics of the Association for Safe International Road Travel in 2017, it is estimated that nearly 1.25 million people die in the road crashes each year, an average of 3,287 people die every day, also 20-50 million are found injured or disabled. It is expected to boost the market during the forecast period further.

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The pharma and healthcare industry is expected to observe significant growth over the coming years attributed to the increasing incidence of chronic diseases across the globe, growing geriatric patient pool, availability of advanced and minimally invasive surgical and diagnostics procedures, favorable reimbursement scenario, and presence of a robust product pipeline of drugs and therapeutics. In addition, the growing integration of IoT, ML, and AI in medical procedures and equipment along with rapid progress in drug design and development. A combination of innovation and technology has brought about massive changes in the healthcare industry and the rapid adoption of telemedicine, remote consultation, and e-prescription has significantly contributed to the revenue growth of the market.

Further key findings from the report suggest:

  • According to World Health Organization statistics given, in 2020, it is expected that the number of persons aged 80 years or over is projected to triple, from 143 million in 2020 to 426 million in 2050. The increase in the incidences of the joint replacements required for the geriatric population is expected to fuel the market growth in the coming years.
  • The LED lights being a revolutionary advancement in the market are expected to enroll maximum growth, as the intensity of light emitted can be controlled according to the requirement while operating, which is convenient for both patients and the medical practitioner.
  • The market players are involved in collaboration and partnership as a part of the strategic initiative. For instance, in February 2018, BihlerMed came into partnership with View Medical and introduced advancement in the MRI Surgical Light  that are SurgiLight, which is an alternative to headlamps and overhead lights, providing versatile, safe illumination precisely focused for specific surgical procedures. The innovations fulfilling the need of the market are expected to grow in the near future.
  • New product launches is among the most utilized strategic initiative observed in this market. For instance, the product launch in the last quarter of 2018, by Dentsply Sirona SiroLaser Blue in the United States, is the first dental diode laser that emits blue light at a wavelength of 445 nanometers (nm), which is well absorbed by soft-tissue (i.e., hemoglobin and melanin and hence enables fast, precise and virtually painless cutting. The increase in the advancements of the devices according to the requirement is expected to propel the growth of the market in the forecast period.

  Research Methodology:

Reports and Data utilizes a unique approach to research to offer a comprehensive overview of the global MRI Surgical Light  Market to offer insights into investment opportunities for stakeholders, investors, clients, and businesses to make informed decisions. The report includes SWOT analysis, Porter’s Five Forces analysis, feasibility analysis, and investment return analysis to offer a better understanding of the market scenario.

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Asia Pacific is expected to lead the market growth over the coming years owing to rapid advancements in the healthcare sector in APAC countries such as India, China, and Japan. North America is anticipated to register the highest market growth over the forecast period attributed to the increasing availability of robust healthcare and clinical settings, legalization of medical marijuana, favorable reimbursement scenario, presence of key market players, and rapid technological advancements in the region.

The growing popularity of over-the-counter medications driving market growth

Growing incidence of acute and chronic diseases and lesser access to advanced medical facilities owing to low disposable income levels are driving the demand for over-the-counter medications. Availability of generic and low-cost alternatives to medical therapies are some other factors playing a major role in driving demand for over-the-counter medications.

Restriction on product launches and RD activities to hamper the market growth

The imposition of strict government regulations and shortage of funds has put a halt on product launches and RD activities and is expected to restrain market growth over the forecast period. In addition, the launch of expensive drugs and therapies and increasing regulations regarding safety and approvals are also hampering the market growth.

  Competitive Landscape:

The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as RD investments, license agreements, partnerships, mergers and acquisitions, collaborations, and joint ventures to gain a robust footing in the market.

Top Companies Profiled in the Report: 

Koninklijke Philips N.V.,  A-dec Inc., Herbert Waldmann GmbH Co. KG, Getinge AB, CV Medical, BihlerMED, Hill-Rom Services Inc., S.I.M.E.O.N. Medical GmbH, Gentex Corporation, Integra LifeSciences Corporation, Co. KG, SKYTRON, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., STERIS plc, Sunnex Group, and Stryker.

  MRI Surgical Light  Market Segmentation:

Product Outlook (Revenue in Million USD; 2018–2028)

  • Ceiling Mounted
  • On floor stand
  • Wall Mounted
  • MRI Surgical Light  System
  • MRI Surgical Light

Technology Outlook (Revenue in Million USD; 2018–2028)

  • Conventional (Incandescent)
  • LED
  • Halogen
  • Xenon
  • Renewable energy sources

Application Outlook (Revenue in Million USD; 2018–2028)

  • Endoscopic Surgery
  • Gynecology
  • Dental surgery
  • Cardiac
  • Neurosurgery

End-Use Outlook (Revenue in Million USD; 2018–2028)

  • Ambulatory Surgical Centers
  • Hospitals Clinics
  • Clinical Examination Rooms
  • Others

Regional Outlook:

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
  • Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
  • Latin America (Brazil, Rest of LATAM)
  • Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of the Middle East Africa)

  Frequently asked questions addressed in the report:

  • What is the revenue growth rate of the global MRI Surgical Light  market over the forecast period?
  • What are the major factors driving the growth of the Global MRI Surgical Light  Market?
  • What are the key challenges impacting the global MRI Surgical Light  market growth?
  • What are the outcomes of the SWOT Analysis and Porter’s Five Forces Analysis conducted in the report?

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