The global medical display market was valued at approximately USD 1.8 billion in 2017 and is expected to generate revenue of around USD 2.5 billion by end of 2024, growing at a CAGR of around 4.5 percent between 2018 and 2024. Dependability on the display system in the medical industry along with trending advancement in the display screens according to the changing needs of the industry is estimated to accelerate the growth of medical display market. The medical display market is primarily driven by its significant characteristics which include quality screening, enhanced productivity, reduced diagnostic errors, and précised pointing. Additionally, the medical display market is driven by the adoption of minimum invasion techniques which requires high-resolution screening. Moreover, improved features of the medical display services such as better luminance, high-resolution, and high contrast ratios have boosted the demand for medical display market. However, the high cost of the display is acting as a restraint for medical display and may affect its growth in the long term.
Nonetheless, the growing demand for diagnostic procedures such as ultrasound, X-ray, medical resonance imaging, etc. and significant investment by the government in the medical display to provide more advanced and improved version of the system across the globe are likely to disclose the new avenues for the market. The global medical display market is divided into its technology, display color, resolution, panel size, and application. On the basis of the technology, the medical display market is divided into OLEDs, CCFL-backlit LCD, and LED-backlit LCD. LED-backlit LCD segment is estimated to cover the largest market value because of its prominent characteristics to deliver high-quality images. Based on display color, the medical display market is segmented into monochrome displays and color displays. Color display segment accounted for the largest market value share in the global market.
On the basis of the resolution, the medical display market is segmented as above 8mp resolution, 4.1–8mp resolution, 2.1–4mp resolution, and up to the 2mp resolution. Based on panel size, the medical display market is segmented as above-42-inch, 27.0–41.9-inch, 23.0–26.9-inch, and under-22.9-inch. On the basis of the application, the medical display market is divided into surgical, diagnostic, dentistry, and others. Based on region, the global medical display market is segmented as North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa. In the medical display market, North America is anticipated to dominate the regional segment. Furthermore, in the North America region, the U.S. is estimated to witness significant demand for a medical display system. Europe is estimated to be following the footsteps of North America. Asia Pacific region is expected to be the significantly growing region for the medical display market over the near future. Additionally, Latin America and the Middle East & Africa will show a moderate CAGR growth in the medical display market.
Some of the key players in the medical display market include among Novanta, LG Display, Sony, Eizo, Barco, Jusha Medical, Steris, Quest International, Advantech, FSN, Siemens, and others. – Zion Market Research