Medical Display Market size was valued at USD 2.2 billion in 2022 and is estimated to account for USD 3.6 billion by 2032. A medical display is a specialized monitor for viewing diagnostic images in healthcare settings, meeting strict quality and calibration standards.
For instance, according to NIH data, the U.S. will see a 61.1% increase in the 50 and above aged population, reaching 221.13 million by 2050. Within this group, the number of people with at least one chronic disease is projected to rise by 99.5% reaching 142.66 million by 2050. Therefore, with the rising prevalence of various medical conditions and an aging population base, there will be a growing demand for medical display to aid in the diagnosis, treatment, and monitoring of patients. Thus, this increased demand will act as a fundamental driver for the market progress.
Furthermore, the pandemic has accelerated the adoption of telemedicine which is estimated to reach USD 71.5 billion by 2032, and remote consultations. Thus, medical display plays a crucial role in these remote healthcare scenarios, enabling healthcare professionals to assess patients’ conditions from a distance for accurate diagnosis and treatment. As per statistics, India is projected to witness a 31% expansion in the telemedicine market from 2020 to 2025. Therefore, this trend is likely to continue, creating a sustained demand for medical imaging solutions such as medical display.
COVID-19 Impact
The COVID-19 pandemic had a moderate impact on the medical display market. Initially, disruptions in the supply chain due to lockdowns and travel restrictions caused delays in manufacturing and shipment. However, increased demand for medical display to diagnose and monitor COVID-19 patients, coupled with the adoption of telemedicine bolstered the market growth. In retrospect, while the market faced early challenges, it maintained steady growth, highlighting the significance of quality medical imaging in healthcare.
Medical Display Market Trends
Continuous advancements in medical display technologies have significantly improved the quality, speed, and accuracy of diagnostic imaging. For instance, EIZO Corporation’s RadiForce MX243W is a 24.1-inch, 2.3-megapixel monitor designed for displaying patient charts and reviewing diagnostic imaging in medical settings. It features the Hybrid Gamma PXL function for pixel-level optimization. Therefore, innovations such as enhanced image resolution, artificial intelligence (AI)-assisted diagnosis, and 3D imaging have expanded the capabilities of medical display and imaging, making it an attractive field for both healthcare providers and patients.
The market by technology is categorized into LED backlit displays, OLED displays and TFT LCD Display. The LED backlit displays segment garnered USD 990 million revenue size in the year 2022.
Therefore, the advantages mentioned above have established LED backlit displays as the preferred choice in the medical sector, leading to their dominant position within this market segment and contributing to the overall growth of the market.
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Based on panel size, the medical display market is segmented into under 22.9-inch, 23.0-26.9-inch, 27.0-41.9 inch, and above 42-inch panels. The 23.0-26.9 inch panels segment accounted for over 37% business share in the year 2022.
The medical display market by resolution is categorized into up to 2mp, 2.1-4mp, 4.1-8mp and above 8mp. The 2.1-4mp garnered USD 807 million revenue size in the year 2022.
The medical display market by display type is categorized into wall mounted, portable and modular. The wall mounted garnered USD 1 billion revenue size in the year 2022.
The medical display market by display color is categorized into color displays and monochrome displays. The color display garnered USD 1.5 billion revenue size in the year 2022. The dominance of the segment is due to their superior visualization capabilities, which are essential for precise diagnosis across various medical imaging applications.
The medical display market by application is categorized into diagnostics, surgical/interventional, dentistry, point of care, telehealth, and other applications. The diagnostics garnered USD 718 million revenue size in the year 2022. The dominance of the segment is attributed due to its critical role in healthcare, where accurate and precise diagnosis is essential for patient care.
The medical display market by end-use is categorized into hospitals, specialty clinics, diagnostic laboratories, and other end-users. The hospitals garnered USD 836 million revenue size in the year 2022. The dominance of the segment is attributed due to their central role in providing comprehensive healthcare services, high patient throughput, and the need for advanced diagnostic imaging.
U.S. medical display market accounted for USD 818 million revenue size in 2022 and is predicted to witness substantial market growth over the analysis timeline.
Therefore, the aforementioned factors collectively propel the U.S. to the forefront of the market, driving its ongoing growth and technological advancement.
Medical Display Market Share
The medical display industry is consolidated, with major players such as Barco NV, BenQ Medical Technology, Sony Corporation, EIZO Corporation and others dominating the market. These companies are focused on continuous product innovation to secure a significant market share. For instance, Barco has launched two new display solutions the Nio Gray 5.8 MP tailored for breast imaging and the MDSC-8532 and MDSC-8527 4K UHD displays designed for surgical applications.
Some of the eminent market participants operating in the medical display industry include:
Medical display market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and volume in Units from 2018 to 2032 for the following segments:
