Medical Display Market by Display Color, Display Type, Resolution, Panel Size, Technology, Application, End User, & Region for 2024 - 2031

Medical Display Market Valuation - 2024-2031

Rising vulnerability among the geriatric population has led to an upsurge in the frequency of chronic illnesses such as neurological disorders, cancer, cardiovascular diseases, gastrointestinal diseases, and so on. With the rising prevalence of medical conditions, the demand for medical displays in the healthcare facilities is likely to continue growing at aCAGR of 3.85% during the forecast period.

After the COVID-19 pandemic, the acceptance of telemedicine and remote monitoring is projected to have skyrocketed. This latest trend of remote healthcare is enabling healthcare professionals to USD 2.82 Billion by 2031.

In November 2023, FUJIFILM India launched the "Find It Early, Fight it Early" breast cancer screening campaign along with the support of 35 advanced diagnostic centers equipped with latest digital mammography technology named Amulet. They plan to offer free of breast cancer screening and disease management to around 90,000 women every year by expanding in 19 cities. Such initiatives enable the Medical Display Market to surpass USD 2.01 Billion assessed in 2024 and continue growing.

Medical Display Market: Definition/Overview

A medical display is a specialized display device developed primarily for application in healthcare settings. This technology facilitates in easing the communication, visualization, and scrutiny of medical images and data between the medical staff and patients. Thus, the growing demand for real-time and precise patient data is bolstering the application of medical display in the healthcare sector.

With growing advancements in technology, the market for medical displays is projected to experience substantial growth in the global imaging market. In addition to this, the evolving epidemiological patterns and modernizing patient care solutions are other factors expected to improve the sales of medical display. This technology is designed to offer bright, noise-free, and ergonomic reading along with improved compatibility with digital imaging and communications in medicine (DICOM) and other medical standards.

The popularity and acceptance of medical imaging solutions is gaining traction compared to the consumer displays owing to the rising demand for non-invasive high-quality, and real-time diagnostic and treatment procedures. Furthermore, the introduction of artificial intelligence, machine learning, and data analytics in the field of medical imaging technologies is projected to expand the medical display industry over the forecast period.

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How will Sales of Medical Display React to Growing Demand for Non-Invasive Diagnostic Procedures?

With the changing lifestyle and growing trend of workaholism, the prevalence of chronic ailments is projected to continue growing. In response to this, the need for advanced healthcare facilities, such as hybrid operation rooms, with effective and shorter medical treatment and stay is projected to rise. Thus, an increase in patients with higher disposable income or health insurance will create enhanced potential for the expansion of market growth.

Also, increasing selective behavior among the patients such as minimal invasion, shorter hospital stays, no scarring, faster recovery, and minimal post-operative pain and complications are other crucial factors likely to enhance the application of medical display for reliable and accurate diagnosis, treatment, and care.

Rapid acceleration in the acceptance of hybrid operation rooms for performing painless or minimally invasive surgical procedures is on the rise. This growth majorly relies on the spurring demand for catheter-based, endovascular, and other non-invasive procedures. Similarly, the need for multiple imaging solutions such as MRI, angiography, ultrasound scanners, and other healthcare delivery models under a single roof is boosting the development of hybrid operation rooms across worldwide healthcare facilities. Using which, the Medical Display Market is likely to gain momentum in the coming years.

Above all, the integration of innovative technologies such as 3D imaging, artificial intelligence, the internet of things, and cloud computing in imaging solutions enables healthcare professionals with the necessary patient history, present anatomy, and real-time data. It is ensuring that the traditional display systems will soon be replaced by the latest medical displays, offering immense opportunities of growth in the market.

Which are Factors Dipping the Sales of Medical Display Solutions?

The integration of specialized features and solutions in the medical displays are projected to increase the costing, restraining its adoption among resource-constrained nations and smaller organizations. Also, the constant need for maintenance and optimization will further increase the overall cost. Hence, the higher cost is projected to hinder the growth of the Medical Display Market.

Besides cost, the constant need to comply with the various regulations such as DICOM and FDA standards and ensuring data security and accuracy are propelling the development of advanced imaging solutions. The constant need to navigate the complex regulatory landscape poses a huge drawback for the Medical Display Market.

The lack of unified interoperability between different display or imaging solutions is projected to disrupt workflow and data transfer. The need for standardized communication protocols and data exchange formats acts as a barrier for market growth. Likewise, the shortage of skilled professionals for handling and maintenance of advanced medical display technologies might hinder the adoption of these solutions.

To ensure continuous growth, the medical display industry must focus on innovation, cost-reduction strategies, and addressing user needs to over restraints and challenges. Manufacturers must majorly emphasis on providing healthcare professionals with the paraphernalia needed to deliver first-rate patient care.

Category-wise Acumens

Will Demand for Clear Visualization And Communication Shot Up Sales of Color Display?

Along with the growing prevalence of complex ailments, the need of advanced, reliable, and accurate display technologies is also projected to rise to offer real-time diagnosis and treatment. Thus, the requirement of crystal-clear communication and visualization between healthcare professionals and patients is spurring the adoption of color displays.

Also, the compliance of this display with the current regulations and patient-specific care are providing substantial growth prospects to the market. The accurate and high-quality visualization properties of color display help it dominate the display color category.

What Empowers Diagnostic Imaging to Dominate the Application Category?

The diagnostic imaging segment is evaluated to hold the maximum share in the application segment. The rise in the prevalence of chronic illnesses, such as cancer, neurological disorders, and spinal complications, is increasing the number of people screened through imaging technologies. This segment will continue dominating the market over the forecast period.

Also, the demand for consistent and calibrated data from the healthcare sector is accelerating the application of diagnostic imaging technologies.

Rapid digital transformation in the healthcare sector will further enhance the adoption of telemedicine and remote monitoring solutions, proving opportunistic for the diagnostic imaging segment.

Will Occurrences of Diseases Ensure Domination of Hospital Segment?

A growing number of illnesses due to the changing dietary and lifestyle routines is increasing the number of patients, driving the need for the construction of more hospitals. Addressing this issue is anticipated to open new doors of success and expansion for the Medical Display Market.

Easy availability of healthcare insurance, patient-centric care, and screening departments in the hospitals are other factors boosting the demand for this segment. All these factors are anticipated to enable the hospital segment to dominate the application category during the forecast period.

Country/Region-wise Acumens

Will Advancements in Display Technology in the U.S. Boost Sales by 2031?

According to Verified Market Research analysts, North America is expected to hold the maximum share in the global Medical Display Market. The revolutionization in the display industry in developing countries such as the U.S. and Canada is anticipated to prove favorable for the healthcare sector. Such developments are projected to help the U.S. dominate North America as well as the international.

As there is constant change in dietary and lifestyle practices, the risks of ailments among the different age groups, especially the aged, are projected to have skyrocketed. Thereby, compelling the government and healthcare authorities to develop advanced and well-equipped healthcare infrastructure. This infrastructural need is likely to open new doors of accomplishment for the Medical Display Market.

Moreover, the driving need for patient data security and convenience in digitally transmitting electronic images and clinically relevant reports across multiple modalities has qualified the acceptance of picture archiving and communication systems (PACS) in the healthcare sector. In response to this, the demand for medical display solutions is shooting up.

How will China Contribute to the Growth of Medical Display Market in Asia Pacific?

As per the analysts, China is currently holds maximum share of the Medical Display Market present in Asia Pacific. The growing population in emerging countries such as China, India, and Japan is leading to an increase in the demand for advancements in healthcare infrastructure with up-to-date medical services including diagnostic imaging and surgical procedures. This is one of the major factors driving the adoption of medical displays in the region.

Within the population, growth in the aged group with higher susceptibility to chronic diseases is bolstering the requirement for screening and interventional procedures with imaging solutions. it is anticipated to offer potential growth opportunities to the Medical Display Market in Asia Pacific.

Also, growing awareness and availability of patient-friendly health insurance in this region drive the acceptance of surgical and screening procedures, creating a huge demand for the Medical Display Market. These drivers enable Asia Pacific to gain substantial growth during the forecast period.

Competitive Landscape

As per the VMR analyst, manufacturers are focusing on introducing advanced medical display solutions to upgrade their product line as well as to meet the growing demands for display technologies from the healthcare sector. Besides this, the players are also entering into new strategies such as mergers and acquisitions, partnerships, collaborations, and joint venturing for acquire stronger footing on the global platform.

Some of the key players holding a major share in the global medical display market include:

Double Black Imaging Corporation

JVC Kenwood Corporation

ViewSonic Corporation

Sony Electronics, Inc.

Steris PLC

LG Electronics

Novanta, Inc.

FSN Medical Technologies

Display Co., Ltd.

Advantech Co., Ltd.

HP Development Co. Ltd

Stryker

Sony Corporation

Quest International

Barco

Jusha Medical

Siemens Healthineers AG

EIZO Corporation

Coje Display

Dell, Inc.

Axiomtek Co., Ltd.

DIVA Laboratories, Ltd.

ASUSTeK Computer, Inc.

New Vision Display Co., Ltd.

ManageEngine

BenQ Medical Technology

Braun

GE Healthcare

SOT Medical Systems

WIDE Corporation

Latest Developments:

In April 2023, LG electronics designed 32HQ713D-B, a high-resolution 8MP diagnostic medical monitor. It is a combination of LG's proprietary IPS Black panel and1000 nits of brightness introduced to deliver an enhanced 2,000:1 contrast ratio with deep blacks. Also, the integration of automatic integrated sensor and software helps simplify color calibration in this monitor.

In February 2023, a 21.3-inch 2-megapixel (1200 x 1600 pixels) color monitor was introduced by Eizo to display patient charts and review diagnostic imaging in hospital and clinical infrastructure.

In November 2022, Barco developed two displays, a breast imaging "Io Gray 5.8 MP" display and MDSC-8532 and a surgical display "MDSC-8527 4K UHD".

In July 2022, Eizo had developed 4 advanced monitors ranging from 32 to 55 inches with 4K UHD resolution (3840 x 2160 pixels). They were designed for application in microsurgery, endoscopy, and other high-precision medical services in the operating room (OR).

In June 2022, EIZO Corporation developed the "RadiForce MX243W", a 24.1-inch 2.3-megapixel (1920 x 1200 pixel) display. It was built for meticulous monitoring and diagnosis of the complete physiology of the patient system in clinics and hospitals. The new launch supported in expanding the organizations business.

In May 2021, Barco had launched the "Nio Fusion 12MP medical display". It was launched to improve product portfolio, increase revenues, and to expand medical display product line across North America and Europe.