Medical Display Global Market Report 2024

The medical display market size has grown strongly in recent years. It will grow from $2.47 billion in 2023 to $2.64 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The expansion observed in the historical period can be attributed to the growing demand for diagnostic imaging, advancements in healthcare infrastructure, the increasing prevalence of chronic diseases, adherence to regulatory standards and compliance, and the rise in telemedicine practices.

The medical display market size is expected to see strong growth in the next few years. It will grow to $3.41 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The anticipated growth in the forecast period can be attributed to the expansion of healthcare services, integration with health information systems, a focus on preventive healthcare, the increasing demand for 3D imaging, and the rapid growth of ambulatory care centers. Major trends expected in the forecast period include the introduction of hybrid displays, increased adoption of AI integration, a shift toward portable and mobile displays, enhanced color calibration technologies, and the integration of cybersecurity measures into medical displays.

The anticipated growth of the medical display market is driven by the increasing number of diagnostic centers. Diagnostic centers, which detect and diagnose diseases through clinical testing, utilize medical displays to present vital signs and interpret test results. This demand is escalating as reflected in the revenue of United States medical and diagnostic laboratories, which increased from USD 12.41 billion in Q2 2020 to USD 16.93 billion in Q2 2021. Additionally, the Centers for Medicare and Medicaid Services reported a 13% increase in the number of certified clinical laboratories in the United States, rising from 286,396 in 2020 to 323,086 in 2021.

Government initiatives in healthcare research and development are expected to further boost the medical display market. These initiatives, aimed at addressing specific health-related goals, have seen significant funding, such as the UK government's commitment of £260 million (US $270.65 million) to support healthcare research and manufacturing. These funds contribute to projects in diagnostics, treatment, privacy-preserving platforms, and clinical research services, indicating strong government support for advancements in medical display technology.

The anticipated expansion of the medical display market is also driven by rising healthcare expenditure. The increasing spending on healthcare costs, amounting to $331 billion in 2022, plays a crucial role in supporting the development and accessibility of medical display technologies. The growth rate of 0.8% in 2022 and 7.6% in 2021 showcases the financial commitment to healthcare, which in turn contributes to the growth of the medical display market.

The medical display market is witnessing a notable trend in product innovation, with major companies actively developing novel solutions to maintain their market positions. LG Business Solutions USA, a prominent US-based company specializing in commercial displays, enterprise mobility solutions, and solar modules, has introduced a noteworthy product. Specifically, the 31-inch, 12-megapixel 31HN713D medical-grade diagnostic monitors address critical needs in healthcare. These monitors are equipped with advanced features, including an auto-luminance sensor that adapts screen brightness to ambient lighting conditions and a built-in presence sensor that conserves energy by turning off the display when not in use. Designed for various diagnostic studies, including 3D mammography, these monitors are optimized to meet the challenges of mammography displays, providing a comprehensive imaging solution for both remote and in-hospital radiologists.

Major companies in the medical display market are embracing cutting-edge technologies, such as light-emitting diodes (LEDs). An LED is a semiconductor device that emits light when an electric current passes through it. This emission of light results from the recombination of electrons with electron holes within the semiconductor, releasing energy in the form of photons. For example, in January 2023, Barco, a leading Belgium-based technology company, unveiled an advanced LED solution as part of its next-gen LED lineup, complemented by TruePix technology. This innovative NT series stands out with exceptional image performance and top-notch color quality, driven by Barco's Infinipix Gen2 processing. Specifically designed for LED video walls that demand impactful visuals, the NT series surpasses typical expectations, showcasing the industry's commitment to leveraging state-of-the-art display technologies.

Major companies operating in the medical display market report are Siemens AG, Sony Corporation, EIZO Corporation, Steris Corporation, Advantech Co Ltd., LG Electronics, Quest International Inc., HP Development Company L P, Barco, BenQ Medical Technology, Dell Inc., Novanta Inc., Double Black Imaging Corporation, Nanjing Jusha Commercial &Trading Co Ltd., Coje Co Ltd., Sony Electronics Inc., FSN Medical Technologies, Jusha Medical, Stryker Corporation, Accuray Incorporated, AccuVein Inc., Ampronix LLC, Carl Zeiss Meditec AG, Conmed Corporation, Hologic Inc., Image Diagnostics Inc., Intermed NDT, JVC Kenwood Corporation, Mediso Medical Imaging Systems, NDS Surgical Imaging LLC, NEC Display Solutions, Planar Systems Inc., Shimadzu Corporation, Sony Medical Systems, Toshiba Medical Systems Corporation, ViewSonic Corporation, WIDE Corporation, Ziehm Imaging GmbH, Zonare Medical Systems Inc.

North America was the largest region in the medical display market in 2023. The regions covered in the medical display market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the medical display market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary color types for medical displays include monochrome displays and color displays. Monochrome refers to a computer display system in which computer text and images are presented in varying shades of only one color. Various display technologies include light-emitting diode (LED), backlit liquid crystal display, organic light-emitting diode (OLED) display, and cold cathode fluorescent light (CCFL). These technologies are applied in desktops, mobile devices, and all-in-one systems, with usage in digital pathology, multi-modality, surgical procedures, radiology, mammography, and other medical applications. End-users of medical displays include hospitals, diagnostic centers, and community healthcare facilities.

The medical display market research report is one of a series of new reports that provides medical display market statistics, including medical display industry global market size, regional shares, competitors with a medical display market share, detailed medical display market segments, market trends and opportunities, and any further data you may need to thrive in the medical display industry. This medical display market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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