Medical Display Market worth $2.9 billion | MarketsandMarkets
CHICAGO, May 25, 2023 /PRNewswire/ -- The medical display industry is poised to undergo significant transformations in the near future. With rapid advancements in technology and increasing demand for high-quality visualization in healthcare settings, medical displays are expected to become more sophisticated and efficient. Cutting-edge technologies like high-resolution screens, 3D imaging, and augmented reality are likely to be integrated into medical displays, enhancing diagnostic accuracy and improving surgical procedures. Additionally, the adoption of artificial intelligence algorithms and machine learning techniques will enable real-time image analysis, assisting healthcare professionals in making accurate and timely decisions. Furthermore, the growing trend of telemedicine and remote healthcare services will drive the demand for portable and wireless medical displays that can deliver seamless and secure transmission of patient data. In conclusion, the near future of the medical display industry promises remarkable advancements that will revolutionize medical imaging, diagnostics, and patient care, ultimately leading to improved healthcare outcomes worldwide.
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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Browse in-depth TOC on "Medical Display Market"
Medical Display Market Scope:
In this report, the Medical Display Market is segmented based on technology, panel size, resolution, display color, application and region.
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. This significant market share can be attributed to factors such as fast response time and high refresh rates of OLED displays enable real-time visualization of moving structures, making them valuable for procedures that require precise guidance and monitoring, such as minimally invasive surgeries and endoscopy.
Europe accounted for the second largest share of the Medical Display Market in 2022.
The Medical Display Market is segmented into five geographical regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2022, Europe emerged as the second dominant market for Medical Display worldwide. The increasing demand for Medical Display and the availability of advanced technologies are expected to be major driving factors for market growth in Europe. The region's substantial market share can be attributed to its well-developed healthcare infrastructure and the continuous investment in research and development of medical devices.
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Medical Display Market Dynamics:
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)
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Medical Display Market Advantages:
Overall, the medical display market offers advantages like enhanced image quality, DICOM compliance, ergonomic features, versatility, integration of advanced technologies, improved workflow efficiency, support for telemedicine, and ongoing technological advancements. These factors contribute to the critical role of medical displays in enabling accurate diagnoses, efficient healthcare processes, and better patient outcomes.
Medical Display market - Report Highlights:
Refinements in the segments of the medical display market
The current edition of the report consists of an updated market overview. Additional points in the market overview have been added, keeping in mind the impact of Recession impact on the overall medical display market. The new additions in this chapter include supply chain analysis, ecosystem analysis, regulatory analysis, value chain analysis, Porter's five forces analysis, Company evaluation quadrants for start-ups/ SMEs and product portfolio analysis.
Coverage of new market players in the medical display market
Updated financial information/product portfolio of players
The new edition of the report provides updated financial information until 2022 for each listed company in a graphical representation as a single diagram (instead of multiple tables). This will easily help analyze the present status of profiled companies in terms of their financial strength, profitability, key revenue-generating country/region, business segment focus in terms of the highest revenue-generating segment, and R&D investments.
Updated market developments of profiled players recent developments are important to understand market trends and the growth strategies adopted by players. The current edition of this report provides updated developments of profiled players from January 2019 to August 2022, indicating a continuation from the previous version. Product/services launches, approvals, and upgrades, expansions, acquisitions, agreements, partnerships, and collaborations were the principal growth strategies adopted by market players in this period.
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