A recent LD+A article discusses the significant growth projected in the hospital lighting market. 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 is forecast to grow at 4.5%, 3.1%, and 2.8% CAGR respectively.