Medical display is an equipment that has special image enhancing technology that provides clarity, efficient support in diagnosis, produces noise-free images, and high-quality digital imaging and communications in the medical field with the appropriate medical standard required.
Valued at USD 2.05 billion in 2021, Medical Display Market is set to reach market size value of USD 2.40 billion by 2031 at 4.6% CAGR.
Medical Display Market Growth and Trend
COVID-19 pandemic can be counted as a restraint in the Medical Display Market however, ironically as it may seem, it is also a driving factor in the growth of said market. With the increase of acute respiratory diseases caused by the wide spread infection, there is a spike in the number of patients being hospitalized therefore supporting the market growth globally.
The high number of COVID-19 cases entails that healthcare services are in dire need of medical equipment specifically medical display devices since the highly contagious disease causes respiratory complications which requires monitoring and diagnosis by using medical display devices.
The increased demand for advanced surgical display devices is also one attribute in the growth of the market especially in countries such as India and China.
The increased adoption of hybrid ORs, medical displays’ short replacement cycle, increased number of patients who prefer minimally invasive treatments over major procedures, and prevalence of diagnostic imaging centers are added attributes in the growth of market.
Restraints in the Medical Display Market
The pandemic has negatively affected market growth since healthcare protocols and global lock downs have been imposed by governments. These new rules limit or restrict manufacturing and distribution of medical display products thereby disrupting the supply chain. Operations have been halted so deliveries and sales to end users of medical display devices have also been delayed, if not, postponed. This posed a big restraint in the Medical Display Market because end users are unable to adopt the use of these devices and cannot provide efficient healthcare services.
Among the other restraints, it also includes market saturation and a significant increase adoption of refurbished medical displays.
Medical Display Market Key Findings
This market is segmented by technology, panel size, resolution, display color, application, and region. In terms of technology, LED-backlit LCD display has the largest share accounted for in 2022 globally. As compared to CCFL, LED-backlit LCD display produces high-quality medical images, longer lifespan, and power efficient--this is the main reason why end users opt the adoption of LED-backlit LCD display than others which caused the growth in its adoption in the market.
In terms of display color segment, color displays segment accounted for the largest share in the market in 2022 because of its high-quality medical images and multi-modality capability.
With respect to application segment, the diagnostic application has the largest share accounted for in 2022.
Medical Display Market Region Analysis
Geographically, Medical Display Market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America meanwhile, dominated the market in 2022 since it has the largest share globally. Such growth can be attributed to factors like, advanced healthcare systems and infrastructure, prioritization of healthcare expenditures, advanced technologies, reimbursement policies favorable to key players, and the increase in the number of diagnostic tests conducted and surgeries performed. But Asia Pacific now held the largest share in the global medical display market also and has the fastest CAGR during that certain forecast period.
Medical Display Market Share and Competition
Dominating key players in the Medical Display Market are the following companies: Barco (Belgium), EIZO (Japan), Sony (Japan), LG Display (South Korea), Novanta (US), FSN Medical (South Korea), Advantech (Taiwan), Quest International (US), STERIS (UK), Jusha Medical (China), Double Black Imaging (US), Dell (US), HP (US), Shenzhen Beacon Display (China), COJE Display (South Korea), and Axiomtek (Taiwan).
These companies are highly competitive making sure that they are focused on adopting growth strategies which will aid their product portfolios, product developments, partnerships and joint venture as well as acquisitions from other companies.
Report Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2022 – 2031)
• Data breakdown for every market segment (2022 – 2031)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Technology Analysis (Revenue, USD Million, 2022 - 2031)
• LED-backlit LCD Display
• CCFL-backlit LCD Display
• OLED Display
Panel Size Analysis (Revenue, USD Million, 2022 - 2031)
• Under 22.9 Inch Panels
• 23.0-26.9 Inch Panels
• 27.0-41.9 Inch Panels
• Above 42 Inch Panels
Resolution Analysis (Revenue, USD Million, 2022 - 2031)
• Up to 2MP
• 2.1–4MP
• 4.1–8MP
• Above 8MP
Display Color Analysis (Revenue, USD Million, 2022 - 2031)
• Color Display
• Monochrome Display
Application Analysis (Revenue, USD Million, 2022 - 2031)
• Diagnostic
• General Radiology
• Mammography
• Digital Pathology
• Multi-modality
• Surgical/ Interventional
• Dentistry
• Others
Region Analysis (Revenue, USD Million, 2022 – 2031)
• United States
• Canada
• Mexico
• France
• Germany
• Italy
• Spain
• United Kingdom
• Russia
• China
• India
• Philippines
• Malaysia
• Australia
• Austria
• South Korea
• UAE
• Qatar
• Saudi Arabia
• Japan
• Africa
• Rest of World
Available Versions:
• United States Medical Display Industry Research Report
• Europe Medical Display Industry Research Report
• Asia Pacific Medical Display Industry Research Report
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