In 2022, the under 22.9-inch panels segment held the largest share of the global medical display market. This is due to the increasing use of advanced technologies in medical displays, such as wireless data transmission, microcontroller functions, micro-circuits, and front-end amplification. These technologies allow medical displays to be more versatile and user-friendly, which is essential for various medical applications. For instance, wireless data transmission allows medical professionals to easily share images and data between different devices, improving the efficiency of diagnosis and treatment. Microcontroller functions allow medical displays to be customized to meet the specific needs of different users, such as radiologists, surgeons, and nurses.
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Data Bridge Market Research analyses that the Medical Display Market will grow at a CAGR of 6.20% in the forecast period of 2022 to 2029 and is expected to reach USD 1,113.11 million by 2029 from USD 687.92 million in 2021. Medical displays are used in a variety of critical applications, such as surgery, radiology, and digital pathology. As a result, there is a high demand for high-quality displays that can provide accurate and high-resolution images. The healthcare industry is increasingly adopting digital technologies, such as electronic health records (EHRs) and picture archiving and communication systems (PACS). This is driving the demand for medical displays that can be integrated with these systems.
Growing adoption of OLED displays is expected to drive the market's growth rate
OLED displays offer a number of advantages over traditional LCD displays, such as better image quality, wider viewing angles, and faster response times. This is driving the adoption of OLED displays in the medical display market. High-resolution displays are becoming increasingly important in medical applications, such as surgery and radiology. This is driving the demand for high-resolution medical displays. Healthcare providers are increasingly focused on patient safety. This drives the demand for medical displays with features such as touch screens, anti-glare screens, and high contrast ratios.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014- 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Technology (LED-Backlit LCD Display, CCFL-Backlit LCD Display, TFT LCD Display And OLED Display), Panel Size (Under 22.9" Inch Panels, 23.0"- 32.0" Inch Panels, 27.0-41.9 Inch Panels and Above 42 Inch Panels), Viewing Mode (2D and 3D), Megapixel (UP TO 2MP, 2.1–4MP, 4.1–8MP and above 8MP), Resolution (4K, Ultra Full HD, Full HD and Others), Display Type (Wall Mounted, Portable, Modular), Imaging Technology (Touch Screen, Scratch Resistant Font Glass, Failsafe Mode, Cleanable Options, Softglow & Spotview And Others), Display Color (Colour, Monochrome), Aspect Ratio (16.09, 21.09, 4.03), Component (Hardware and Services), Application (Consultation, Diagnostic, Surgical/Interventional, Telehealth, Teaching / Practice, Fetal Monitoring, Dentistry, Point Of Care, Patient-Worn Monitoring And Others) End User (Hospitals, Clinics, Nursing Facilities, Diagnostic Laboratories, Imaging/Radiology Lab, Laboratory, Rehabilitation Centers And Others), Distribution Channel (Direct Tender, Retail Sales and Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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BenQ (Taiwan), ALPINION MEDICAL SYSTEMS Co., Ltd (U.S.), Nanjing Jusha Commercial & Trading Co., Ltd (China), COJE CO.,LTD. (U.S.), Axiomtek Co., Ltd. (Taiwan), Dell Inc. (U.S.), H.P. Development Company, L.P. (U.S.), Reshin (China), Onyx Healthcare Inc. (Taiwan), Shenzhen Beacon Display Technology Co., Ltd. (China), Rein Medical (Germany), STERIS. (U.K.), Barco. (Belgium), Hisense. (China), Sony Corporation (Japan), Advantech Co., Ltd. (Taiwan), L.G. Electronics. (South Korea), Sharp NEC Display Solutions (Japan), Koninklijke Philips N.V. (Netherlands), Siemens Healthcare GmbH (Germany), Panasonic Corporation (Japan)
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework
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Segment Analysis:
Global medical display market is categorized into thirteen notable segments which are based on technology, panel size, viewing mode, megapixel, resolution, display type, imaging technology, display color, aspect ratio, component, application, end user and distribution channel.
- On the basis of technology, the global medical display market is segmented into LED-backlit LCD display, CCFL-backlit LCD display, TFT LCD display and OLED display LED-backlit LCD display segment is expected to dominate the global medical display market with a market share of 19.25% due to longer life and better energy efficiency than plasma and CCFL LCD TVs.
- On the basis of panel size, the global medical display market is segmented into less than 22.9, 23.0- 32.0, 32.1-42.0 and more than 42. Less than 22.9 segment is expected to dominate the global medical display market with a market share of 57.58% due to less vertical space.
- On the basis of viewing mode, the global medical display market is segmented into 2D and 3D. 2d segment is expected to dominate the global medical display market with a market share of 44.68%. It is expected to reach USD 5,638.24 million by 2029, growing with the highest CAGR of 7.1%, in the forecast period of 2022 to 2029.
- On the basis of megapixel, the global medical display market is segmented into 2.1-4mp, 4.1-8m, above 8mp and upto 2mp. 2.1-4MP segment is expected to dominate the global medical display market with a market share of 35.83%. It is expected to reach USD 436.38 million by 2029, growing with the highest CAGR of 7.6%, in the forecast period of 2022 to 2029.
- On the basis of resolution, the global medical display market is segmented into 4k, ultra full hd, full hd and others. 4K segment is expected to dominate the global medical display market with a market share of 39.75% as a majority 4K resolution highest effective resolution.
- On the basis of display type, the global medical display market is segmented into wall mounted, portable and modular. Wall mounted segment is expected to dominate the global medical display market with a market share of 50.78%.It is expected to reach USD 577.35 million by 2029, growing with the highest CAGR of 6.5%, in the forecast period of 2022 to 2029.
- On the basis of imaging technology, the global medical display market is segmented into touch screen, scratch resistant font glass, failsafe mode, cleanable options, softglow & spotview and others. Touch screen segment is expected to dominate the global medical display market with a market share of 37.88%. It is expected to reach USD 451.27 million by 2029, growing with the highest CAGR of 7.3%, in the forecast period of 2022 to 2029.
- On the basis of display color, the global medical display market is segmented into colour and monochrome. Colour segment is expected to dominate the global medical display market with a market share of 77.29% due to flexible mounting space, and floor space being saved.
- On the basis of aspect ratio, the global medical display market is segmented into 16.09, 21.09 and 4.03. 16:09 segment is expected to dominate the global medical display market with a market share of 47.94%. It is expected to reach USD 550.21xx million by 2029, growing with the highest CAGR of 6.7%, in the forecast period of 2022 to 2029.
- On the basis of component, the global medical display market is segmented into hardware and services. Hardware segment is expected to dominate the global medical display market with a market share of 77.07%. It is expected to reach USD 882.34 million by 2029, growing with the highest CAGR of 6.6%, in the forecast period of 2022 to 2029.
- On the basis of application, the global medical display market is segmented into diagnostics, surgical/interventional, patient worn monitoring, consultation, telehealth, teaching/practice, dentistry, point of care, fetal monitoring and others. Diagnostics segment is expected to dominate the global medical display market with a market share of 38.09%. It is expected to reach USD 469.13 million by 2029, growing with the highest CAGR of 7.8%, in the forecast period of 2022 to 2029.
- On the basis of end user, the global medical displaymarket is segmented into hospitals, clinics, nursing facilities, diagnostics laboratories, imaging/ radiology laboratory, laborartory,rehabilation centres and others. Hospitals segment is expected to dominate the global medical display market with a market share of 33.79%. It is expected to reach USD 419.62 million by 2029, growing with the highest CAGR of 7.9%, in the forecast period of 2022 to 2029.
The hospitals segment will dominate the end user segment of the medical display market
The hospitals segment will emerge as the dominating segment end user segment. This is because of the growing number of hospitals in the market especially in the developing economies. Further, growth and expansion of research development services on a global scale will further bolster the growth of this segment.
- On the basis of distribution channel, the global medical display market is segmented into direct tender, retail sales and others. Direct tender segment is expected to dominate the global medical display market with a market share of 85.66% as the primary source of distribution of pharmaceutical excipients. The end users of medical display are pharmaceutical and biopharmaceutical companies.
The direct tender segment will dominate the distribution channel segment of the medical display market
The direct tender segment will emerge as the dominating segment under distribution channel. This is because of the growing number of infrastructural development activities in the market especially in the developing economies. Further, growth and expansion of the healthcare industry all around the globe will further bolster the growth of this segment.
Major Players
Data Bridge Market Research recognizes the following companies as the major market players: BenQ (Taiwan), ALPINION MEDICAL SYSTEMS Co., Ltd (U.S.), Nanjing Jusha Commercial & Trading Co., Ltd (China), COJE CO.,LTD. (U.S.), Axiomtek Co., Ltd. (Taiwan), Dell Inc. (U.S.), H.P. Development Company, L.P. (U.S.), Reshin (China), Onyx Healthcare Inc. (Taiwan), Shenzhen Beacon Display Technology Co., Ltd. (China), Rein Medical (Germany), STERIS. (U.K.), Barco. (Belgium), Hisense. (China), Sony Corporation (Japan), Advantech Co., Ltd. (Taiwan), L.G. Electronics. (South Korea), Sharp NEC Display Solutions (Japan), Koninklijke Philips N.V. (Netherlands), Siemens Healthcare GmbH (Germany), Panasonic Corporation (Japan).
Market Development
- In 2022, EIZO Corporation launched RadiForce MX243W in June. This 24.1-inch, 2.3-megapixel monitor is designed to carefully monitor and diagnose the complete physiology of patient systems in clinics and hospitals. The launch of this new medical device has added to EIZO's portfolio and has helped to improve market penetration.
- In 2021, Barco launched the Nio Fusion 12MP medical display in May 2021. This product launch has enhanced Barco's product portfolio and has led to increased sales and expansion of the medical display product line across North America and Europe.
- In 2020, Sony Corporation expanded its product line in May 2020 with the introduction of NUCLeUS. NUCLeUS includes wireless video streaming that allows clinical staff to access images with a smartphone from any modality. The launch of this product is expected to increase the product range across North America and Europe and increase customer base and sales.
- In 2020, FSN Medical Technologies partnered with RGB Spectrum in September 2020 to provide medical display video solutions to the medical market. This partnership has resulted in the expansion of FSN Medical Technologies' product and business portfolio.
Regional Analysis
Geographically, the countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
North America is the dominant region in the medical display market during the forecast period 2022-2029
North America is expected to dominate the market during the forecast period. The region is home to some of the leading medical device manufacturers, such as GE Healthcare, Philips Healthcare, and Siemens Healthcare. These companies are investing heavily in research and development to develop innovative medical displays. In addition, the increasing prevalence of chronic diseases, such as cancer, heart disease, and diabetes, is driving the demand for medical displays in the region.
Asia-Pacific is estimated to be the fastest-growing region in the medical display market in the forecast period 2022-2029
Asia-Pacific is expected to be the fastest-growing region in the medical display market during the forecast period. The growth of the market in the region is attributed to the rising healthcare spending, increasing government initiatives to improve healthcare infrastructure, and growing demand for minimally invasive surgeries. In addition, the increasing patient pool in countries, such as China and India, is also driving the demand for medical displays in the region.
For more detailed information about the medical display market report, click here – https://www.databridgemarketresearch.com/jp/reports/global-medical-display-market
