Why will Hospital Lighting System Market Surge in Asia-Pacific in Coming Years?

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The global hospital lighting system market revenue stood at $5,328.1 million in 2017 and it is predicted to surge to $7,755.4 million by 2023. According to the estimates of the market research company, P&S Intelligence, the market will demonstrate a CAGR of 6.4% from 2018 to 2023 (forecast period). The market is being driven by the surging number of hospitals and the soaring requirement for energy efficient lighting systems, on account of the increasing concerns being raised over the escalating greenhouse gas (GHG) emissions all over the world.

Additionally, the lighting systems being used in hospitals are rapidly incorporating both artificial lights, such as lamps and light fixtures in corridors and lobbies and natural daylight, which is resulting in 45–70% light savings, which is, in turn, improving the energy efficiency of these lighting systems. Furthermore, LED lighting has several advantages over conventional lighting solutions, such as low power consumption