Data Bridge Market Research’s analysis anticipates that the Medical Display Market will experience a compound annual growth rate (CAGR) of 6.20% during the forecast period from 2022 to 2029, resulting in a market value of USD 1,113.11 million by 2029, up from USD 687.92 million in 2021. Medical displays are integral to various critical applications, including surgery, radiology, and digital pathology, and there’s a growing demand for high-quality displays that can deliver accurate and high-resolution images. The healthcare sector is increasingly adopting digital technologies, such as electronic health records (EHRs) and picture archiving and communication systems (PACS), which is driving the demand for medical displays that can seamlessly integrate with these systems.
In 2022, the segment featuring medical display panels under 22.9 inches in size secured the largest market share in the global medical display market. This can be attributed to the surging adoption of advanced technologies in medical displays, including wireless data transmission, microcontroller capabilities, micro-circuits, and front-end amplification. These technological advancements have rendered medical displays more versatile and user-friendly, which is pivotal for diverse medical applications. For instance, wireless data transmission enables medical professionals to seamlessly share images and data across different devices, thereby enhancing diagnostic and treatment efficiency. The microcontroller functions empower medical displays to be customized to cater to the specific requirements of various users, including radiologists, surgeons, and nurses.
Fostering the Market’s Growth: Growing Adoption of OLED Displays
OLED displays offer several advantages over traditional LCD displays, including superior image quality, broader viewing angles, and faster response times. This has fueled the adoption of OLED displays in the medical display market. High-resolution displays have become increasingly crucial in medical applications, particularly in surgery and radiology. This growing emphasis on patient safety has also led to a higher demand for medical displays with features like touch screens, anti-glare screens, and high contrast ratios.
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Segment Analysis:
The global medical display market is categorized into thirteen notable segments based on technology, panel size, viewing mode, megapixels, resolution, display type, imaging technology, display color, aspect ratio, component, application, end user, and distribution channel.
- Technology: The LED-backlit LCD display segment is expected to dominate the global medical display market due to its longer lifespan and better energy efficiency compared to plasma and CCFL LCD TVs.
- Panel Size: Panels less than 22.9 inches are anticipated to dominate the market due to their space-saving nature.
- Viewing Mode: 2D viewing mode is expected to dominate the global medical display market, offering the highest CAGR in the forecast period.
- Megapixels: The 2.1-4MP segment is expected to dominate the market with the highest CAGR.
- Resolution: 4K resolution is expected to dominate the global medical display market.
- Display Type: Wall-mounted displays are projected to dominate the market.
- Imaging Technology: The touch screen segment is expected to dominate the market with the highest CAGR.
- Display Color: Color displays are set to dominate the market due to their flexibility and space-saving benefits.
- Aspect Ratio: The 16:9 aspect ratio is expected to dominate the global medical display market.
- Component: Hardware is anticipated to dominate the market.
- Application: Diagnostics is expected to dominate the global medical display market.
- End User: Hospitals are expected to dominate the market.
- Distribution Channel: The direct tender segment is projected to dominate the distribution channel segment.
Major Players
Data Bridge Market Research recognizes several major market players, including BenQ, ALPINION MEDICAL SYSTEMS, Nanjing Jusha Commercial & Trading, COJE, Axiomtek, Dell, H.P. Development Company, Reshin, Onyx Healthcare, Rein Medical, STERIS, Barco, Hisense, Sony Corporation, Advantech, L.G. Electronics, Sharp NEC Display Solutions, and Koninklijke Philips.
Market Development:
- In 2022, EIZO Corporation launched the RadiForce MX243W, a 24.1-inch, 2.3-megapixel monitor designed for monitoring and diagnosing patient physiology in clinics and hospitals. This product addition has expanded EIZO’s portfolio and market penetration.
- In 2021, Barco introduced the Nio Fusion 12MP medical display, enhancing its product portfolio and expanding its sales and product line across North America and Europe.
- In 2020, Sony Corporation expanded its product line with the introduction of NUCLeUS, which includes wireless video streaming, allowing clinical staff to access images with a smartphone from any modality. This product launch is expected to increase Sony’s product range and customer base across North America and Europe.
- In 2020, FSN Medical Technologies partnered with RGB Spectrum to provide medical display video solutions to the medical market, expanding its product and business portfolio.
Regional Analysis:
North America is projected to dominate the medical display market during the forecast period, driven by significant investments in research and development, the presence of leading medical device manufacturers, and a rising prevalence of chronic diseases. Meanwhile, Asia-Pacific is expected to experience the highest growth, driven by increased healthcare spending, government initiatives, and the demand for minimally invasive surgeries in the region.
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