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)

The global medical display market is experiencing substantial growth, with revenue projected to increase from $2.3 billion in 2023 to $2.9 billion by 2028, reflecting a compound annual growth rate (CAGR) of 5.2%. This expansion is driven by several key factors, including technological advancements, rising demand for diagnostic imaging, increased adoption of minimally invasive procedures, and the surge in telemedicine and remote diagnostics.

One of the primary drivers fueling market growth is the growing adoption of hybrid operating rooms. These advanced facilities are designed to perform sophisticated and minimally invasive surgeries, integrating imaging and surgical tools for improved precision, safety, and procedural outcomes. Consequently, hospitals are replacing outdated display systems with newer, high-resolution medical displays to enhance visualization and facilitate collaboration between surgical and imaging teams.

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However, the market faces a restraint in the form of increasing adoption of refurbished medical displays. Healthcare facilities, particularly smaller ones and those in emerging economies, are turning to refurbished devices as a cost-effective alternative. This trend poses a challenge for market players, who must either lower prices or introduce more advanced technologies to address unmet needs.

Emerging economies present a significant opportunity for the medical display industry. Governments and private players in regions like Asia are making significant investments to modernize healthcare infrastructure and cater to the growing demand for better healthcare services. This investment is expected to drive revenue growth opportunities for market players.

Nevertheless, the adoption of consumer-grade displays in medical settings poses challenges related to image quality, calibration, regulatory compliance, longevity, reliability, and vendor support. Healthcare providers, particularly in developing countries like India and China, are increasingly turning to lower-priced consumer-grade displays, which could impact the growth of the professional medical display market.

The market ecosystem consists of manufacturers engaged in research, product development, optimization, and introduction of medical displays, as well as distributors, including third-party and e-commerce platforms affiliated with these organizations.

Within the market segments, the OLED displays category is expected to witness the fastest growth during the forecast period, as these displays enable healthcare professionals to notice subtle details and color differences that many LED displays lack. Additionally, the diagnostic applications segment accounted for the largest share in 2022, driven by the increasing prevalence of diseases like cancer and the growing number of patients being screened using imaging systems.

Geographically, North America held the largest market share in 2022, owing to factors such as good healthcare infrastructure, increasing demand for diagnostic imaging, technological advancements, and rising adoption of picture archiving and communication systems (PACS).

Key players in the medical display market include Barco NV, Eizo, Sony Electronics Inc., LG Electronics, Novanta, FSN Medical Technologies, Advantech, Quest International, Steris, Jusha Medical, Siemens Healthineers AG, Double Black Imaging, HP Development Co. Ltd, Stryker, and Coje Display.

With the rising demand for advanced healthcare services and the continuous technological advancements in medical imaging, the medical display market is poised for significant growth in the coming years.

Medical Display Market in terms of revenue was estimated to be worth $ 2.3 billion in 2023 and is poised to reach $2.9 billion by 2028, growing at a CAGR of 5.2% from 2023 to 2028 according to a new report by MarketsandMarkets™.

The global Medical Display market is like rising technological advancements, increasing demand for diagnostic imaging, rising awareness and adoption of minimally invasive procedures and surge in telemedicine and remote diagnostics. However, market saturation in developed countries and increasing adoption of refurbished medical displays will be challenges in the growth of this market during the forecast period.

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

The Medical Display Market is categorized into five segments, including technology, panel size, resolution, display color, application. Among these categories, the color segment in display color is projected to experience the highest growth rate from 2023 to 2028. 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 display.

The Medical Display Market is categorized into different technology, including LED-Backlit LCD Displays, CCFL-Backlit LCD Displays, OLED Displays. Among these, the OLED displays segment held the fastest-growing market for medical display market in 2022. This significant market share can be attributed to factors such as fast response time and high refresh rates of OLED displays enable real-time visualization of moving structures, making them valuable for procedures that require precise guidance and monitoring, such as minimally invasive surgeries and endoscopy.

The Medical Display Market is segmented into five geographical regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2022, Europe emerged as the second dominant market for Medical Display worldwide. The increasing demand for Medical Display and the availability of advanced technologies are expected to be major driving factors for market growth in Europe. The region’s substantial market share can be attributed to its well-developed healthcare infrastructure and the continuous investment in research and development of medical devices.

Medical Display Market Dynamics:

Drivers:

  1. Growing Adoption of Hybrid Operating Rooms
  2. Short Replacement Cycles of Medical Displays
  3. Increasing Preference for Minimally Invasive Treatments
  4. Rising Number of Diagnostic Imaging Centers

Restraints:

  1. Market Saturation in Developed Countries
  2. Increasing Adoption of Refurbished Medical Displays

Opportunities:

  1. Development of Healthcare Infrastructure in Emerging Markets
  2. Technological Advancements

Challenges:

  1. Adoption of Consumer-Grade Displays
  2. Fluctuating Average Selling Prices of Display Panels

Key Market Players:

The prominent players in the global Medical Display Market are 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:

  • 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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