At 4.90% CAGR, Global Medical Display Market Accelerating the Growth Opportunities in Industry during COVID-19 Scenario

Visualization of medical images presented by PACS viewer on LCD displays has been critical part of the diagnosis procedures. Performing diagnosis with medical grade displays that provide better visualization compared to consumer displays has highlighted the importance of medical displays in healthcare facilities.

The global medical display market was valued at $2,052.77 million in 2019, and is projected to reach $3,194.72 million by 2027, registering a CAGR of 4.90% from 2020 to 2027.

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COVID-19 scenario-

1) Due to the global pandemic all over the world, the medical devices manufacturers are majorly focusing on essential medical devices production including ventilators and diagnostics.

2) However, due to the precautionary measures taken by governments in various regions, the supply chain has been hampered. Which may result in shortage of devices in certain locations.

3) Food and Drugs Administration (FDA), on the other hand, shared a COVID-19 guidance with medical device manufacturers to notify the agency about changes that could affect availability of their products.

These displays help streamline the diagnosis as well as surgical procedures in hospitals with improvement of quality and consistency in performance. With such benefits, medical professionals such as surgeons, radiologists, and information technology specialists need medical grade displays for better healthcare outcomes.

The key factors that drive the growth of the global medical display market include increase in number of medical establishments and rise in healthcare expenditure. Furthermore, rise in geriatric population in the countries boosts the demand for medical-aid and medical display devices worldwide. The growth in demand for multimodality displays for radiology and various medical applications to get a detailed view of ultrasound outputs and PET further drive the growth of the global medical display market.

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Based on device type, the global medical display market is divided into the desktop, mobile, and all-in-one product. The desktop segment is largest among the device type with its wide usage in major applications owing to high image quality, ease of image analysis, and others. Based on panel size, the global medical display market is divided into the under-22.9-inch panels, 23.0 to 26.9-inch panels, 27.0–41.9-inch panel, and above-42-inch panels. The 27.0–41.9-inch panel segment is largest among the panel size owing to its suitability for wide range of applications including surgical as well as diagnostics. Based on resolution, the global medical display market is divided into up to 2MP, 2.1–4MP, 4.1–8MP, and above 8MP. The 2.1–4MP segment is largest among the device type owing to its decent configuration that is suitable for multiple applications. Based on application, the global medical display market is divided into digital pathology, multi-modality, surgical, radiology, mammography, and others. The surgical segment is largest among application owing to wide usage of medical displays for surgeries with its critical impact on the quality of procedures.

North America held the largest share of the global medical display market in 2018 owing to increase in adoption of hybrid operating rooms along with the short duration of replacement cycle supports the growth of the medical display market in North America. Moreover, the lesser budget constraints on the U.S. hospitals results in the increase in purchases of equipment including medical display. On the other hand, XX is also anticipated to be the fastest-growing regional segment during the analysis period.

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The Major Key Players Are:

• Alpha Display
• ASUSTeK Computer Inc.
• Axiomtek Co., Ltd.
• Barco NV
• BenQ Medical Technology
• Coje CO., LTD.
• Dell Technologies Inc.
• Double Black Imaging Corporation
• FSN Medical Technologies
• Hisense Medical
• HP INC.
• JVC Kenwood Holdings Inc.
• Nanjing Jusha Commercial & Trading Co, Ltd.
• Shenzhen Beacon Display Technology Co., Ltd.
• Steris PLC
• EIZO Corporation (EIZO)
• Sony Corporation
• LG Display Co., Ltd.
• Novanta Inc. (Novanta)
• Advantech Co., Ltd. (Advantech).

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