Expanding Horizons in Medical Display Market

Expanding Horizons in Medical Display: Market Poised for Growth to US$ 3.77 Billion by 2031

The global medical display market, valued at US$ 2.03 billion in 2022, is poised for substantial growth, projecting a market value of US$ 3.77 billion by 2031. With a Compound Annual Growth Rate (CAGR) of 7.61% and a volume of 11801.33 thousand units in 2022, the market is set to expand significantly over the forecast period from 2023 to 2031.

Growth Influencers:

Key growth drivers in the medical display market include the rising prevalence of minimally invasive treatments and the increasing number of hybrid operating rooms. These factors are propelling the demand for advanced medical display technologies for precise and efficient patient care. However, the growing inclination towards refurbished medical displays poses a restraint to the market growth.

Segment Overview:

The market is segmented by product, technology, panel size, resolution, application, and display color.

By Product

• Surgical Field Cameras
• Distribution Systems
• Monitors
• Servers
• Hybrid Visual System
• Fixed C-Arms
• X-ray computed tomography (CT) scanners
• Magnetic resonance imaging (MRI) scanners
• Others

By Technology

• LED-backlit LCD Display
• CCFL-backlit LCD Display
• OLED Display

By Panel Size

• Under 22.9 Inch Panels
• 23.0-26.9 Inch Panels
• 27.0-41.9 Inch Panels
• Above 42 Inch Panels

By Resolution

• Up to 2MP
• 2.1 - 4MP
• 4.1 - 8MP
• Above 8MP

By Application

• Diagnostic
• General Radiology
• Mammography
• Digital Pathology
• Multi-modality
• Surgical/ Interventional
• Dentistry
• Others

By Display Color

• Monochrome Display
• Color Display

The Hybrid Visual System, part of the product segment, shows the fastest growth, indicating a rising demand for advanced diagnostic tools. LED-backlit LCD displays dominate the technology segment, accounting for over 40% of the market, favored for their efficiency and quality. The 27.0-41.9 inch panels lead the panel size category, reflecting the healthcare sector's preference for larger displays.

The resolution segment is rapidly growing in the 4.1 - 8MP range, expected to become the largest market share by 2027, highlighting a shift towards high-resolution displays for clearer imaging. Diagnostic applications are the fastest-growing in the application segment, driven by the need for precise diagnostics. Lastly, color displays hold a significant share in the display color segment, preferred for their detailed and vibrant image quality. These segments collectively highlight the market's diverse demands and ongoing advancements in medical display technology.

Regional Overview:

Geographically, the market spans across North America, Europe, Asia Pacific, Middle East & Africa, and South America, with Asia Pacific leading the market share at over 30% in 2022. This region's dominance is attributed to the rapid technological advancements and increasing healthcare infrastructure investments.

North America

• US
• Canada
• Mexico

Europe

• UK
• Germany
• France
• Italy
• Spain
• Russia
• Poland
• Rest of Europe

Asia Pacific

• China
• India
• Japan
• ASEAN
• Australia & New Zealand
• Rest of Asia Pacific
• Middle East & Africa
• UAE
• Saudi Arabia
• South Africa
• Rest of Middle East & Africa

South America

• Brazil
• Argentina
• Rest of South America

Competitive Landscape:

The market is highly competitive, with major players like Sony Corporation, EIZO Corporation, Barco, and Dell Inc. These companies collectively hold close to 90% of the market share. Their dominance is reinforced by continuous innovations and strategic market expansions.

Report Insights:

• The market is set to grow at a CAGR of 7.61%, reaching US$ 3.77 billion by 2031.
• Advancements in minimally invasive treatments and hybrid operating rooms are key market drivers.
• Asia Pacific is the leading region in market share due to rapid technological growth in healthcare.
• Major market players are focusing on innovation and expansion to maintain their market dominance.

Questions to be Answered:

• What are the key factors driving the medical display market growth?
• Which segments are experiencing the fastest growth and why?
• How is the Asia Pacific region contributing to the market's expansion?
• What strategies are leading market players adopting to stay ahead in the competition?