Growing adoption of hybrid ORs, short replacement cycle of medical displays, increasing preference for minimally invasive treatments, and rising number of Diagnostic Imaging centers are the major factors driving the growth of the medical display market. However, market saturation and the increased adoption of refurbished medical displays are expected to restrain the growth of this market to a certain extent.
The global medical display market is projected to reach USD 2.33 Billion by 2023 from USD 1.86 Billion in 2018, at a CAGR of 4.6%.
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Applications of Medical Display Market:
2. General Radiology
4. Digital Pathology
The global market by application is segmented into diagnostic, surgical/interventional, dentistry, and other applications (clinical review, education, and conference and training). In 2017, the diagnostic application accounted for the largest share of the market.
Based on display color, the market is classified color displays and monochrome displays. The color displays segment accounted for the largest share of the medical display market in 2017. Features such as high-quality images and multi-modality capability are driving the adoption of the color displays segment.
Geographical Growth Analysis:
Geographically, the global market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2017, North America accounted for the largest share of the medical display market, followed by Europe. North America’s large share in the global market is attributed to factors such as high adoption of advanced technologies such as OLED and hybrid operating rooms, increasing healthcare expenditure, favorable reimbursement policies, and increasing volume of diagnostic tests and surgeries.
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Key Players in Medical Display Market:
Prominent players in the healthcare market are 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)