Increasing Population Leading to Medical Display Monitor Market Growth

Display monitors are among the most essential and easily recognizable equipment types at healthcare settings. A lot of the diagnoses these days are made by doctors based on what they see on these monitors. From the results of imaging studies and vital sign readings to what is going on inside the body, as the surgeon operates, everything can be seen on such screens. With the increasing population around the world, the demand for healthcare services is constantly going up. With more medical centers being set up in this regard, the procurement of display monitors is also rising.

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Thus, with a higher hospitalization rate, the medical display monitor market is projected to reach $2.8 billion by 2023 from $2.1 billion in 2017, witnessing a CAGR of 4.9% during 2018–2023 (forecast period). A monitor could be a simple one attached to a physician’s computer or that integrated with a particular system, such as a vital sign monitor or an ultrasound scanner. One thing all medical professionals desire with monitors is good display quality.

This is why among all the resolution ranges these appliances come in — up to 2 MP, 3 MP–4 MP, 5 MP–8 MP, and above 8 MP — the demand for 5–8 MP monitors is expected to increase the fastest in the coming years. Similarly, of the monochrome and color variants, color variants are more commonly seen in healthcare settings, as they offer better visualization. The better the picture, the more confident the doctor can be in making a diagnosis, and in turn, more effective would be the treatment prescribed.

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Therefore, with the increasing demand for such systems, companies providing them have upped their product development activities. For instance, CuratOR LX550W, a 55-inch 4K ultra-high-definition (UHD) monitor, was launched by EIZO GmbH in October 2017, for interventional endoscopy and radiology. In June 2016, the company had acquired Panasonic Healthcare Co. Ltd.’s endoscope monitor business, to offer 4K and 3D endoscopy monitors for ORs. Similarly, LG Display Co. Ltd. introduced a transparent and flexible organic light-emitting diode (OLED) monitor, in a 77-inch size, in June 2017.

The increasing usage of display monitors in ORs is also credited to the rising preference for MISs, which is also why North America has been the largest medical display monitor market till now. According to the American Society of Plastic Surgeons, 17.7 million MISs were performed in the U.S. in 2018, which was an increase of 2% from previous year. In the coming years, the highest rise in the procurement of medical display monitors is predicted in Latin America (LATAM), as a result of the advancing healthcare infrastructure in the region.

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