Medical Display Market – Global Revenue Growth Expectations in the Near Future
The global Medical Display Market size is estimated to reach USD 3.06 billion from USD 1.84 billion in 2019, delivering a CAGR of 5.7% through 2027. The increasing penetration of medical imaging systems in the diagnostic care units across the world is driving the market growth.
The medical display technology is gaining massive popularity as it generates crisper, sharper, clearer images with less noise and also offers a longer life span as compared to the commercial displays. Extensive product application in mammography, bone, and chest imaging is supplementing medical display market revenue share. Rapid advancement in the technologies, along with rising awareness among the populace, is also fuelling the industry growth. Moreover, the global expansion of the geriatric population base will further offer lucrative scope for industry growth.
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Further key findings from the report suggest
- Based on display resolution, the Up to 2MP segment is estimated to exhibit a growth rate of 4.4% over the projected timeframe.
- In terms of display size, the 23 to 41 Inches segment accounted for the largest market revenue share in 2019 and is set to register a CAGR of 6.2% through 2027.
- Based on form factor, the multimodality systems segment is estimated to register a CAGR of 7.1% through 2027. These systems are medical-grade displays that are specifically designed for multimodality images or both color and greyscale images for enhanced understanding.
- In terms of end-user, the hospital segment is anticipated to account for 49.5% of the medical display market share, delivering a CAGR of 5.8% through 2027 on account of large-scale incorporation of high-quality medical displays all the concerned departments.
- The clinics & diagnostic centers segment is forecast to hold 32.7% of the medical display market share, exhibiting a growth rate of 4.1% through 2027.
- With the extensive usage of high end IT medical systems, North America will dominate the market landscape, and the Asia Pacific, due to rapid technological advancements in the healthcare industry, may witness the fastest growth. The U.S., Germany, and Japan remain prominent players in the global medical display market.
- The APAC region is likely to witness the fastest growth rate of 8% during the analysis period on account of the record number of patients with chronic diseases and growth in the number of super-specialty healthcare centers due to and mounting need for diagnostic screening & health check-ups in the region.
- North America is estimated to exhibit a notable growth rate of 6% over the forecast period on account of the extensive proliferation of medical displays in hospitals and ambulatory centers coupled with the growing prevalence of geriatric diseases and the associated demand for diagnostic screening in the region.
- Led by Germany, Europe is forecast to be a major contributor to the medical display market growth in the region, with a CAGR of 5.4% through 2027.
Competitive Outlook of the Global Medical Display Market
The globla Medical Display market study focuses on the revenue growth trajectories of the leading companies in this market. This section of the report throws light on the highly competitive landscape of the Medical Display market, pointing out the major players. The report further discusses the strategic initiatives undertaken by each of these market players, including mergers & acquisitions, collaborations, joint ventures, new product launches, new business deals, and technological innovations.
Top Companies Profiled in the Report:
Sony Corporation, Samsung Electronics, LG Display Co Ltd, Novanta Inc., Barco NV, Siemens AG, Steris PLC, Eizo Corporation, The Hewlett-Packard Company, and Advantech Co., Ltd., among others.
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The report is inclusive of product type outlook, application spectrum, end-use outlook, technology landscape, regional market analysis, and competitive overview.
Medical Display Market Segmentation:
Display Resolution Outlook (Revenue, USD Billion; 2017-2027)
- Up to 2MP
- 1MP to 4MP
- 1MP to 8MP
- Above 8MP
Sales Channel Outlook (Revenue, USD Billion; 2017-2027)
- Online Retailing
- Medical Stores & Brand Outlet
Technology Outlook (Revenue, USD Billion; 2017-2027)
- CCFL based LED
- LCD based LED
Form Factor Outlook (Revenue, USD Billion; 2017-2027)
- Multimodality System
Display Size Outlook (Revenue, USD Billion; 2017-2027)
- Below 23 Inches
- 23 to 41 Inches
- Above 41 Inches
End-User Outlook (Revenue, USD Billion; 2017-2027)
- Clinics & Diagnostic Centers
- Ambulatory Centers & Dental Chambers
Geographic Segment Covered in the Report:
The Medical Display report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.
- North America (USA and Canada)
- Europe (UK, Germany, France and the rest of Europe)
- Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
- Latin America (Brazil, Mexico, and the rest of Latin America)
- Middle East and Africa (GCC and rest of the Middle East and Africa)
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