Revenue Growth in Medical Displays: $2.9 Bn by 2028

The global Medical Display Market is projected to reach USD 2.9 billion by 2028 from USD 2.3 billion in 2023, at a CAGR of 5.2%

The global Medical Display Market is projected to reach USD 2.9 billion by 2028 from USD 2.3 billion in 2023, at a CAGR of 5.2% during the forecast period. There are several factors which drive the medical display market like rising technological advancements, increasing demand for diagnostic imaging, rising awareness and adoption of minimally invasive procedures and surge in telemedicine and remote diagnostics.

In this report, the Medical Display Market is segmented on the basis of technology, panel size, resolution, display color, application and region.

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Medical Display Market by Technology (LED-Backlit LCD Displays, CCFL-Backlit LCD Displays, OLED Displays), Panel Size (Under 22.9-inch panels, 23.9-26.9 inch panels, 27-41.9 inch panels), Resolution, Display Color, Application – Global Forecast to 2028

Based on technology, the market is segmented into LED-Backlit LCD Displays, CCFL-Backlit LCD Displays, OLED Displays. The U LED-Backlit LCD Displays segment accounted for the largest share of the global medical display market in 2022. Increasing Demand for LED medical displays due to its availability in a wide range of sizes and offer numerous advantages over conventional CCFL-backlit LCD display, such as clear medical images, bright color, good stability, high brightness, high efficiency, long service life, and low energy consumption. LED backlighting technology provides higher brightness and contrast ratios compared to CCFL backlights.

Based on Panel Size, the Medical Display Market is segmented into Under 22.9 Inch Panels, 23.0-26.9 Inch Panels, 27.0-41.9 Inch Panels, Above 42 Inch Panels. 27.0-41.9 Inch Panels accounted for the largest share of the Medical display Market in 2022. This panels strike a balance between screen real estate and space requirements. They are versatile enough to be used in various medical imaging applications, including radiology, surgical suites, or dental clinics are some of the factors that contribute to the big proportion of this market.

Based on Resolution, the Medical Display Market is segmented into Up to 2MP, 2.1–4MP, 4.1–8MP, Above 8MP. 4.1–8MP accounted for the largest share of the Medical display Market in 2022. These displays can support 10-bit input for each RGB color, provide sRGB over 99, and display more than one billion colors simultaneously to ensure accurate color reproduction in operating rooms. Considering the above-mentioned functionalities, coupled with the growing volume of surgical procedures, the demand for these displays is expected to increase in the coming years.

Based on Display Color, the Medical Display Market is segmented into Color and Monochrome & Grayscale. Color segment accounted for the largest share of the Medical display Market in 2022. Factors such as enhanced visualization, technological advancements, increasing complexity of medical imaging, improved patient care and safety, integration with picture archiving and communication systems (PACS), and advantages of color displays over grayscale displays such as enhanced contrast and differentiation, improved depth perception, enhanced communication and collaboration, multi-modality application are responsible for the large adoption of color displays in the healthcare industry

Based on Application, the Medical Display Market is segmented into Diagnostic, Surgical/ Interventional, Dentistry and others. Diagnostic segment accounted for the largest share of the medical display Market in 2022. Factors such as the large share of this segment can be attributed to the rapidly increasing prevalence of diseases such as cancer and the increasing number of patients being screened using imaging systems are some of the factors that contribute to the big proportion of this market.

The Medical Display Market is divided into five regions based on geography: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2021, North America held the highest market share for the global Medical Display Market. North America has a major share of the market because of the presence of good healthcare infrastructure, as well as the rising R&D investment on medical devices.

Barco NV (Belgium), Eizo (Japan), Sony Electronics Inc. (Japan), Lg Electronics (South Korea), Novanta (US), FSN Medical Technologies (South Korea), Advantech (Taiwan), Quest International (US), Steris (UK), Jusha Medical (China), Siemens Healthineers Ag (Germany), Double Black Imaging (US), HP Development Co. Ltd (US), Stryker (US), and Coje Display (South Korea)

Recent Developments of Medical Display Industry

• In April 2023, LG electronics launched 32HQ713D-B, which has latest high-resolution 8MP diagnostic medical monitor. It combines 1000 nits of brightness with LG’s proprietary IPS Black panel to deliver an enhanced 2,000:1 contrast ratio with deep blacks, while greatly simplifying color calibration through an automatic integrated sensor and software.
• In February 2023, Eizo launched a 21.3-inch 2-megapixel (1200 x 1600 pixels) color monitor for displaying patient charts and reviewing diagnostic imaging in hospital and clinic environments.
• In November 2022, Barco launched two displays. Io Gray 5.8 MP for the breast imaging and MDSC-8532 and MDSC-8527 4K UHD for surgical display.
• In July 2022, Eizo launched launched four new monitors ranging from 32 to 55 inches with 4K UHD resolution (3840 x 2160 pixels) for use in endoscopy, microsurgery, and other high-precision procedures in the operating room (OR).

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https://www.prnewswire.com/news-releases/medical-display-market-worth-2-9-billion–marketsandmarkets-301834414.html

https://www.globenewswire.com/en/news-release/2023/08/03/2717683/0/en/Medical-Display-Market-is-Expected-to-Reach-2-9-Billion-MarketsandMarkets.html

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