The Global Medical Display Market is projected to grow at a CAGR of 5.7% from USD 1.84 billion in 2023 to USD 3.06 billion in 2032. The global medical display market is growing at a substantial pace as the market penetration for medical imaging systems, and the number of diagnostic care units are drastically being propelled.
Also, the number of diseases & disorders that require radiological checkup & diagnosis are substantially heightening, and the use of hardcopy based imaging films are being actively reduced. An increased awareness about healthcare & wellness, changing treatment procedures, government supports, and escalating volumes of implementation of the Medical Display in various radiology departments & other units of the healthcare centers is expected to accelerate the further rapid growth of this market.
A revolution in the medical display market has been observed in the last couple of years, as healthcare professionals have long been demanding the high quality in the display resolution. Higher pixel view, higher refresh rate, wide viewing angel, high contrast ratio, and brighter visibility have been in the forefront and leading and fastest-growing players in the market are investing handful amount to come up with some of the most innovative products. Dead pixel test, dual monitor color calibration, pixel response time, monitor response time are some of the parameters and testing measurements that are done to decide the performance of the displays. Eizo Medical Imaging Solutions, Barco DICOM, and others are some of the high-selling medical displays.
Amongst the end-users, the hospitals sub-segment is leading in the market owing to the incorporation and adoption of the highest number of high-quality Medical Display in all the concerned departments. Medical stores & brand outlet is dominating the market but a higher growth rate has been forecasted for the online retailing sub-segment.
Form Factor Outlook:
Multimodality systems are the medical-grade displays which are specifically designed for multimodality images or both the grayscale and color images. Users can switch between color to grayscale images anytime for a better and enhanced understanding of the medical images. This sub-segment will grow at the highest CAGR of 7.1% in the forecast period.
Cathode Fluorescent Lamps (CCFL) based LCDs use CCFL as the light source to backlit the Medical Display. CCFL based LCD usually require higher AC voltages compared to LCD based LEDs. CCFL based LCDs are comparatively older generation technology and expected to face a reduction in the growth rate.
The hospitals around the world incorporate the medical display in all the radiology units & other departments. The hospitals sub-segment is expected to retain its domination with a market share of 49.5% by 2032, and the CAGR is forecasted to be 5.8% during the period 2023 – 2032.
North American market is being propelled by increasing incidents of geriatric diseases and increasing expenditure in healthcare cases with the modern amenities and advanced hospital information systems (HIS). APAC, due to its record number of patients with chronic diseases and rising needs of diagnostic screening & health check-ups coupled with a drastic increase in the number of super-specialty healthcare centers in this region, is growing with the fastest CAGR of 8.0% throughout the forecast period. China, India, and Singapore are some of the most valuable contributors in the Asia Pacific region.
Companies considered and profiled in this market study
Sony Corporation, LG Display Co Ltd, Samsung Electronics, Novanta Inc., Siemens AG, Barco NV, Steris PLC, Advantech Co., Ltd., Eizo Corporation, and The Hewlett-Packard Company, among others are leading players involved on the global Medical Display market.
The Medical Display Market industry poses significant amount of opportunities for small manufacturers and startups to come up with cost-effective solutions in manufacturing of Medical Display products. There is a continuous growth in demand from the customers’ end, which can encourage several startups to launch innovative products in this market.
Mergers and Acquisitions are an integral part of this industry. These mergers and acquisitions help us decide the strategic initiatives taken up by the leading players as well as growing companies dealing in this market.
Reports and Data forecasts in the Medical Display industry having considered the interviews with some of most the prestigious personalities and experts in this market. According to the industry experts, medical displays are used to monitor the medical imaging inputs captured through various medical imaging systems such as X-Ray, MRI, and others for general radiology, digital pathology, and surgical procedures, to name a few. Medical Display are designed with special image-enhancing technologies which ensures the consistent brightness over the entire operational period of the display. These displays usually provide noise-free images with ergonomic reading & automated compliance and can be well equipped with digital imaging and communications in medicine (DICOM) and all the other medical standards followed in healthcare centers. In comparison to the consumer displays, Medical Display offer more noise-free medical-grade higher display luminance which makes the displayed images more noticeable and more natural to detect the subtle lesions helping diagnose faster with high accuracy.
Segments covered in the report
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2020 to 2032. The scope of the report can be defined as:
For the purpose of this report have segmented the global medical display market on the basis of display resolution, sales channel, technology, form factor, display, end-users, and region:
Display Resolution Outlook (Revenue: USD Billion; Volume: Million Units; 2023-2032)
Sales Channel Outlook (Revenue: USD Billion; Volume: Million Units; 2023-2032)
Technology Outlook (Revenue: USD Billion; Volume: Million Units; 2023-2032)
Form factor Outlook (Revenue: USD Billion; Volume: Million Units; 2023-2032)
Display Size Outlook (Revenue: USD Billion; Volume: Million Units; 2023-2032)
End-Users Outlook (Revenue: USD Billion; Volume: Million Units; 2023-2032)
Regional Outlook (Revenue: USD Billion; Volume: Million Units; 2023-2032)