The medical display industry is poised to undergo significant transformations in the near future.
Medical Display Market in terms of revenue was estimated to be worth $2.3 billion in 2023 and is poised to reach $2.9 billion by 2028, growing at a CAGR of 5.2% from 2023 to 2028 according to a new report by MarketsandMarkets™. The global Medical Display market is like rising technological advancements, increasing demand for diagnostic imaging, rising awareness and adoption of minimally invasive procedures and surge in telemedicine and remote diagnostics. However, market saturation in developed countries and increasing adoption of refurbished medical displays will be challenges in the growth of this market during the forecast period.
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Medical Display Market – Key Market Players:
The prominent players in the global Medical Display Market are Barco NV (Belgium), Eizo (Japan), Sony Electronics Inc. (Japan), Lg Electronics (South Korea), Novanta (US), FSN Medical Technologies (South Korea), Advantech (Taiwan), Quest International (US), Steris (UK), Jusha Medical (China), Siemens Healthineers Ag (Germany), Double Black Imaging (US), HP Development Co. Ltd (US), Stryker (US), and Coje Display (South Korea)
| Report Metric | Details |
| Market Size Available for Years | 2020–2028 |
| Base Year Considered | 2022 |
| Forecast Period | 2023–2028 |
| Forecast Unit | Value (USD Billion) |
| Segments Covered | By Technology, By Panel size, By Resolution, By color, By Applications, and By Region |
| Countries Covered | North America US Canada Europe Germany UK France Spain Italy Rest of Europe Asia Pacific China Japan India Rest of APAC Latin America Brazil Mexico Rest of LATAM Middle East and Africa |
| Company Profile | Barco NV (Belgium), Eizo (Japan), Sony Electronics Inc. (Japan), Lg Electronics (South Korea), Novanta (US), FSN Medical Technologies (South Korea), Advantech (Taiwan), Quest International (US), Steris (UK), Jusha Medical (China), Siemens Healthineers Ag (Germany), Double Black Imaging (US), HP Development Co. Ltd (US), Stryker (US), and Coje Display (South Korea) |
Color display segment is expected to witness the fastest growth in the forecast period.
The Medical Display Market is categorized into five segments, including technology, panel size, resolution, display color, application. Among these categories, the color segment in display color is projected to experience the highest growth rate from 2023 to 2028. Enhanced visualization, technological advancements, increasing complexity of medical imaging, improved patient care and safety, integration with picture archiving and communication systems (PACS), and advantages of color displays over grayscale displays such as enhanced contrast and differentiation, improved depth perception, enhanced communication and collaboration, multi-modality application are responsible for the large adoption of color display.
OLED Displays accounted for the fastest growing of the Medical Display Market in 2022.
The Medical Display Market is categorized into different technology, including LED-Backlit LCD Displays, CCFL-Backlit LCD Displays, OLED Displays. Among these, the OLED displays segment held the fastest-growing market for medical display market in 2022.
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Medical Display Market Dynamics:
Drivers:
- Growing Adoption of Hybrid Operating Rooms
- Short Replacement Cycles of Medical Displays
- Increasing Preference for Minimally Invasive Treatments
- Rising Number of Diagnostic Imaging Centers
Restraints:
- Market Saturation in Developed Countries
- Increasing Adoption of Refurbished Medical Displays
Opportunities:
- Development of Healthcare Infrastructure in Emerging Markets
- Technological Advancements
Challenges:
- Adoption of Consumer-Grade Displays
- Fluctuating Average Selling Prices of Display Panels
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/medical-display-market.asp
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