Medical Display Market Size And Forecast To 2026 with Top Key Players - Siemens AG, Sony Corporation, LG Display Co., Ltd, Eizo, Steris Plc, Jusha Medical, Barco, Advantech, Novanta, FSN, Quest International

Medical Display System Market Definition

Medical Display System can be defined as displays that are used for the purpose of diagnostic imaging. Medical displays are necessary for being able to view a specific modality. Medical displays allow for different resolutions in order to be able to view the image in the appropriate quality (in order to be able to conduct a diagnosis).

These display systems vary from commercial display systems in that medical displays are able to correctly display images in accordance with the application. These applications can require various levels of luminance, contrast as well as spatial resolution which medical displays are able to provide. The various applications that medical display can be used in such as diagnostic, surgery and dentistry are aiding the growth of the global medical display market.

Medical Display System Market Overview

With growing advancement in technology, the market for medical displays is considered as one of the fastest growing in the global imaging market. The adequate and repeatable performance of the image display system is a key element of information technology platforms in a modern radiology department. The advancement in imaging technologies, aging population, evolving epidemiological patterns and changing patient care strategies has resulted in added importance being given to medical imaging devices. Trends promoting value-based patient care approaches tend to have a favorable influence on the market demand for products that produce rapid and accurate testing results along with enabling long-term monitoring of therapeutic outcomes.

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The market for medical displays is often compared with consumer-based displays. According to our primary sources, medical-grade displays are considered better in terms of providing higher quality screens as compared to their consumer-grade counterparts. High-quality monochrome medical-grade displays are reflected to be the standard for primary interpretation of most radiographic images. They are characterized to have a high resolution, high luminance, high contrast ratio, low noise, and a better modulation transfer function than most color displays. However, the technology used for color displays has changed in recent years, and many radiology departments are either using or considering using color displays for primary reading.

Factors influencing the market

Factors that are driving the growth of the market include the rising number of diagnostic imaging centers. Medical Displays are systems which are embedded in the monitoring systems in hospitals and health care units. The role of medical displays is to give a visual representation of the values and parameters being measured. With an aging population, the need for diagnostic centers is rising. Diagnostic centers are healthcare units which are specialized in diagnosing diseases/disorders. These diagnostic centers possess a wide range of digital equipment. This digital equipment generates crisp, clear and sharp images as compared to consumer grade displays. These display systems account for a major share in the global digital health market.

A factor that is restraining the growth of the market involves the high cost of imaging devices. In spite of making sustainable progress in the global market, medical displays experience budget constraints which can cause a hindrance in its overall growth rate. The pricing of medical devices is an important process for medical diagnostic OEMs prior to the launch of their product into the market. The pricing strategies adopted in the industry are dynamic. Almost all the OEMs consider pricing as a tool to differentiate themselves amongst their peers within the industry. The pricing of any product for a company depends on which stage of the product technology chart it is entering that market.

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Global Medical Display Market Analysis

According to Verified Market Research, The Global Medical Display Market was valued at USD 1,730.6 Million in 2018 and is projected to reach USD 2,417.04 Million by 2026, growing at a CAGR of 4.4% from 2019 to 2026. The North American Market is expected to participate heavily in the implementation of Medical Display and its position can be attributed to the amount of money that the region spends on the health care sector. As technical awareness in North America and Europe is more established, the market for Medical Display is relatively mature. Due to this, other regions such as the Asia Pacific, South America, and the Middle East are likely to expand at a vigorous CAGR in the coming years.

Global Medical Display Market Segment Analysis

The Global Medical Display market can be segmented into Display Color, Panel Size, Technology, and Application. The display panel can be segmented into Monochrome Displays and Color Displays. Medical grade monochrome monitors display images that are of a single color. This can, however, be in various shades. Monochrome displays for the medical display market is still used extremely widely and has several applications. A monochrome display is known for its clear, simple and easy to understand nature and can respond quickly to the demands of the user. There are several advantageous characteristics of the monochrome medical display. It should be noted that the resolution of the display should be adequate enough in order to be able to match the amount of information that is present in the medical images. Color displays in the medical grade display field can be a polarizing situation. The incorporation of color can be effective or at the same time, it can result in a situation where there is a large variability of color appearance. This variability makes obtaining a consistent image difficult. Due to this, the medical community has introduced a standardization. This standardization ensures that the color medical images that are displayed conform to a set of rules and regulations that allow for the proper and most efficient visualization of the image.

The market, when divided into panel size, is divided into Under-22.9-Inch Panels, 23.0–26.9-Inch Panels, 27.0–41.9-Inch Panels and Above-42-Inch Panels. With the advancements in technologies, the panels under 22.9 inches are becoming increasingly popular. In comparison to the rest of the sizes for medical displays, these displays are lower in cost as well as more effective in use for varying applications. This size of the display is said to be the most popular for the healthcare market. The 23.0-26.9 inch panels are effective due to their “medium” size resulting in increased clarity. These panels are more effective for the usage of diagnostic capabilities because the larger size allows for more effective visualization of the medical image. These panels are, however, not as widely used in comparison to the 23.0-26.9 inch panel due to less applications.

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The Medical Display Market by technology has been divided into LED-Backlit LCD, OLED, CCFL-Backlit LCD. A LED-backlit LCD is a monitor where white light is produced by UV LEDs are first diffused and then filtered into small segments of green, blue and red light. These colored segments are then able to be selectively enabled (can be invariable magnitudes) in order to pass through the front of the display. OLED displays (organic light-emitting diode), in response to an electric current, use organic compounds that emit light to provide a display. OLEDs are able to display a true deep black in contrast to LCDs (whose black depends on backlight). The CCFL backlit LCD (cold cathode fluorescent lamps) are the most widely used backlight technology. Advantages of the CCFL backlit LCD is the provision of an even amount of light, this is especially beneficial in the case of larger sized LCDs.

Some of the major players involved in the Global Medical Display Market are Siemens AG, Sony Corporation, LG Display Co., Ltd, Eizo, Steris Plc, Jusha Medical, Barco, Advantech, Novanta, FSN, Quest International. These companies will be profiled on the basis of their financials, their geographic and business segment breakdown, as well as product benchmarking. The competitive landscape section includes key development strategies and market ranking analysis of the above-mentioned players globally.

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