Medical Display Market - Future Forecast Indicates Impressive Growth Rate

The global medical display market is projected to reach USD 2.33 billion by 2023 from USD 1.86 billion in 2018, at a CAGR of 4.6%.

Factors such as a rise in the adoption of minimally invasive surgeries and the increasing numbers of medical imaging centers worldwide, and the growing adoption of hybrid ORs are expected to drive the medical displays market during the forecast period.

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In this report, the market is segmented by technology, panel size, resolution, display color application, and region. On the basis of technology, the global medical display market is segmented into CCFL-backlit LCD display, LED-backlit display, and OLED display. The OLED display segment is expected to grow at the highest CAGR during the forecast period. OLED displays produce high-contrast medical images and deliver an intensely wide color gamut compared to the LED-backlit LCD displays. These advantages are driving the adoption of OLED displays in the medical display market.

Based on panel size, the medical display market is segmented into under 22.9-inch panels, 23.0-26.9-inch panels, 27.0-41.9-inch panels, and above 42-inch panels. During the forecast period, 27.0-41.9-inch panels are expected to grow at the highest CAGR.

Based on resolution, the medical display market is segmented into up to 2MP display, 2.1–4MP display, 4.1–8MP display, and above 8MP display. The above 8MP display segment is expected to grow at the highest CAGR during the forecast period. The reducing ASP of display panels is one of the major factors driving the demand for displays with a resolution greater than 8MP.

Based on application, the medical display market is segmented into diagnostic, surgical/ interventional, dentistry and other applications such as clinical review, education and conferences. The surgical/interventional application is expected to grow at highest CAGR during the forecast period.

Factors such as advancements in endoscopic video cameras, rapidly growing surgical procedure volume, and growing demand for high-resolution 4K surgical displays are driving the market for medial displays used in surgical/interventional applications.

Geographically, the medical display market in the Latin America region is expected to register the highest CAGR during the forecast period. The market in Asia Pacific region is also expected to grow at significant pace. Growth in the Latin American market is primarily driven by factors such as the improving healthcare infrastructure, growing health awareness, rising per capita income, and development of medical tourism in several Latin American countries.

Objectives of the Study

• To define, describe, segment, and forecast the global market by technology, panel size, resolution, display color, application, and region
• To forecast the size of the medical display market in North America, Europe, Asia Pacific (APAC), Latin America, and the Middle East & Africa
• To provide detailed information about the factors influencing market growth (drivers, restraints, opportunities, and industry-specific challenges)
• To analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall market
• To analyze market opportunities for stakeholders and provide details of the competitive leadership mapping for key players
• To profile key players in the market and comprehensively analyze their core competencies2 and market shares
• To track and analyze competitive developments such as acquisitions; product launches; collaborations, partnerships, & agreements; and expansions in the market

Read more: https://www.prnewswire.com/in/news-releases/medical-display-market-worth-233-billion-usd-by-2023-677272463.html

Professional Healthcare Consultant with more than 6 years of consulting experience