Press release
Global Medical Display Market to Reach $3.76 Billion by 2029, Growing at 9% CAGR
Medical Display Market Share
The expansion of diagnostic centers is likely to significantly contribute to the progression of the medical display market. A diagnostic center, a medical laboratory that carries out testing on various bodily substances like blood, urine, and cholesterol, plays a crucial role in detecting and diagnosing diseases. These centers greatly rely on medical displays to provide visual representations of the patient's vital signs such as pulse rate, body temperature, and blood pressure. Additionally, the interpretation and presentation of patient test results also depend on these displays. The increasing number of such centers is thus steering the growth of the medical display market. As reported by a government website from the UK, GOV.UK, in April 2022, out of the 160 planned community diagnostic centers in England by 2025, 73 are already in operation. This surge, backed by unprecedented levels of funding for health and social care, is boosting the overall medical display market.
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What Is the projected market size and growth rate for the medical display market?
The medical display market has seen a robust growth recently and is expected to expand from a $2.58 billion in 2024 to $2.71 billion in 2025, experiencing a compound annual growth rate (CAGR) of 5.2%. Factors such as increasing demand for diagnostic imaging, enhancements in healthcare infrastructure, a rise in chronic disease prevalence, regulatory standards and compliance, along with the growth of telemedicine practices have contributed to growth during the historic period.
In the forthcoming years, an upward trajectory is predicted for the medical display market size. The forecasted growth is poised to reach $3.76 billion by 2029, showing a compound annual growth rate (CAGR) of 8.5%. This growth during the forecast period is perceived to be due to the broadening of healthcare services, consolidation with health information systems, a stronger emphasis on preventive healthcare, a spike in demand for 3D imaging, and the swift expansion of ambulatory care centers. The forecast period is also expected to see prevalent trends such as the emergence of hybrid displays, an increased acceptance of AI incorporation, a move towards portable and mobile displays, improved color calibration technologies, and the introduction of cybersecurity safeguards.
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What new trends are reshaping the medical display market and its opportunities?
Innovation in products is a notable trend emerging in the medical display industry. To maintain their share in the market, key companies in this field are concentrating on the invention of fresh solutions. LG Business Solutions USA, an American firm specializing in commercial displays, enterprise mobility solutions, and solar modules tailored for various businesses, unveiled a medical-grade diagnostic monitor, the 31-inch, 12-megapixel 31HN713D. This device is equipped with an auto-luminance sensor for adjusting screen brightness based on surrounding lighting conditions and an integrated presence sensor for turning off the display when not in use. Its applications span several diagnostic study modes like 3D mammography and it has been designed to overcome mammography display issues. Furthermore, it provides a comprehensive imaging line for radiologists working remotely or within hospitals.
What major market segments define the scope and growth of the medical display market?
The medical display market covered in this report is segmented -
1) By Display Color: Monochrome Displays, Color Displays
2) By Technology: Light Emitting Diode (LED), Backlit Liquid Crystal Display, Organic Light Emitting Diode (OLED) Display, Cold Cathode Fluorescent Light (CCFL)
3) By Device: Desktop, Mobile, All In One
4) By Application: Digital Pathology, Multi-Modality, Surgical, Radiology, Mammography, Other Applications
5) By End User: Hospitals, Diagnostic Centers, Community Healthcare
Subsegments:
1) By Monochrome Displays: Grayscale Displays, Black And White Displays
2) By Color Displays: Full-Color Displays, High-Definition Color Displays
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Which region dominates the medical display market?
North America was the largest region in the medical display market in 2024. The regions covered in the medical display market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Which key market leaders are driving the medical display industry growth?
Major companies operating in the medical display market include Siemens AG, Sony Corporation, EIZO Corporation, Steris Corporation, Advantech Co Ltd., LG Electronics, Barco, BenQ Medical Technology, Novanta Inc., Double Black Imaging Corporation, Coje Co Ltd., FSN Medical Technologies, Jusha Medical, Stryker Corporation, Ampronix LLC, Carl Zeiss Meditec AG, Conmed Corporation, Hologic Inc., Image Diagnostics Inc., JVC Kenwood Corporation, Mediso Medical Imaging Systems, NDS Surgical Imaging LLC, NEC Display Solutions, Planar Systems Inc., Shimadzu Corporation, Ziehm Imaging GmbH, Zonare Medical Systems Inc.
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What Is Covered In The Medical Display Global Market Report?
• Market Size Forecast: Examine the medical display market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the medical display market for a structured understanding.
• Key Players Overview: Analyze major players in the medical display market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the medical display market.
• Segment Contributions: Evaluate how different segments drive overall growth in the medical display market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the medical display market.
• Industry Challenges: Identify potential risks and obstacles affecting the medical display market.
• Competitive Landscape: Review strategic developments in the medical display market, including expansions, agreements, and new product launches.
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