Innovations in medical display technology, such as high definition and 4K resolution, are significantly enhancing image quality. This improvement is driving an increased demand for these advanced displays within the healthcare sector. As medical professionals seek to leverage superior imaging capabilities for better diagnostics and patient care, the appeal of high-resolution displays continues to grow.
New Delhi, Feb. 07, 2025 (GLOBE NEWSWIRE) — According to recent findings from Astute Analytica, the global medical display market was valued at US$ 2,100.2 million in 2023 and is estimated to generate a revenue of US$ 4,063.8 million by 2032 at a CAGR of 7.61% over the forecast period 2024-2032.
The demand for medical displays is witnessing a substantial increase, primarily driven by the rise in diagnostic imaging procedures and the growing adoption of advanced healthcare technologies. In 2023, the global healthcare sector recorded over 3 billion medical imaging procedures, highlighting the pressing need for precise imaging solutions that can support accurate diagnoses and effective treatment plans. As healthcare providers increasingly rely on imaging technologies to guide their clinical decisions, the role of high-quality medical displays becomes even more critical.
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One significant factor contributing to the heightened demand for medical displays is the surge in minimally invasive surgeries (MIS). A notable study published in the March 2023 edition of the Interdisciplinary Cardiovascular and Thoracic Surgery Journal illustrates the growing trend of minimally invasive surgeries. In the UK, MIS accounted for approximately 8% of mitral valve cardiac surgeries, reflecting an emerging preference for these techniques among healthcare providers.
However, a comparison with Germany, which has a slightly larger population, reveals a stark contrast: in 2022, MIS represented 55% of similar surgeries. This disparity underscores the increasing global emphasis on minimally invasive approaches, which, in turn, drives the demand for advanced medical displays that enhance surgical performance and promote quicker patient recovery.
LED-Backlit LCD Display Technology to Account for 44% Revenue Share
LED-backlit LCD display technology has emerged as the cornerstone of the medical display market, commanding an impressive market share of over 44.53%. This dominance can be attributed to the technology’s superior performance, which is specifically tailored to meet the stringent demands of medical imaging.
One of the key advantages of LED-backlit LCDs is their reliability and longevity. These displays typically boast operational lifespans exceeding 50,000 hours, which significantly reduces the need for frequent maintenance or replacement. This durability is crucial in medical environments, where equipment downtime can have serious implications for patient care.
In addition to their longevity, LED-backlit LCDs are characterized by fast response times and high refresh rates, which are vital for real-time imaging applications. These features are particularly important in procedures such as endoscopy and surgical navigation, where immediate visual feedback is essential for guiding medical professionals during complex interventions. The ability to deliver real-time images with minimal lag enhances the precision of these procedures, ultimately contributing to better patient outcomes.
Medical Displays are Majorly Adopted for Diagnostics Applications
Medical displays have firmly established their dominance in the realm of diagnostic applications within the medical display market. As of 2023, this segment accounted for more than 27.52% of the overall market share, a figure that highlights their vital role in improving both the accuracy and efficiency of medical diagnoses. The significance of medical displays in diagnostics cannot be overstated; they are essential tools that healthcare professionals rely upon to make informed decisions about patient care.
A key factor reinforcing the market position of medical displays is the stringent regulatory standards that govern their use in diagnostic settings. These Medical displays have firmly established dominance within the medical display market, particularly in diagnostic applications. In 2023, the diagnostics application segment accounted for over 27.52% of the market share, underscoring the critical role these displays play in enhancing the accuracy and efficiency of medical diagnoses.
The stringent regulatory standards governing the use of medical-grade displays for diagnostic purposes ensure that only displays meeting specific performance criteria are utilized, further reinforcing their market position. The widespread adoption of digital imaging and healthcare information systems, such as Picture Archiving and Communication Systems (PACS), has significantly contributed to the growing demand for medical displays.
These advanced systems require displays that can accurately reproduce digital images without any degradation, ensuring that healthcare professionals have access to high-quality visual information for making informed decisions. This demand has driven the medical display market to develop and integrate cutting-edge technologies that cater to the evolving needs of the healthcare industry.
North America Stands as a Highest Revenue Contributor to the Market
North America has established itself as the largest medical display market in the world, a status achieved through a unique combination of advanced healthcare infrastructure, substantial healthcare expenditures, and a trend toward the early adoption of innovative technologies. The region’s medical sector is notably robust, with a significant network of over 6,000 hospitals throughout the United States alone, as reported by the American Hospital Association. This extensive healthcare system provides a solid foundation for the integration of advanced medical display technologies, which are essential for enhancing diagnostic accuracy and improving patient care.
In 2023, healthcare spending in the United States reached an astounding $4.9 trillion, reflecting a 7.5% increase from the previous year. This expenditure translates to an impressive average of $14,570 per person, underscoring the nation’s commitment to investing in healthcare. As the demand for advanced medical displays continues to grow, the U.S. healthcare sector is making significant investments in healthcare IT and imaging technologies. These investments are crucial for ensuring that medical facilities can meet the evolving needs of healthcare providers and patients alike.
The medical imaging market in the United States has been valued at over $15 billion as of 2023, demonstrating a thriving environment for the application of medical display technologies. This vibrant market is driven by an increasing number of diagnostic procedures, including an impressive annual total of more than 40 million MRI scans performed across the nation. The high volume of these scans necessitates the use of high-resolution displays to ensure accurate diagnostics and effective treatment planning. As a result, the medical display market in North America is not only robust but also essential for the ongoing advancement of healthcare services.
Key Companies:
- Advantech Co. Ltd
- ASUSTeK Computer Inc
- Axiomtek Co., Ltd.
- B. Braun
- Barco
- BenQ Medical Technology
- COJE Co., Ltd.
- Dell Inc.
- DIVA Laboratories. Ltd
- Double Black Imaging
- EIZO Corporation
- FSN Medical Technologies
- General Electric Company (GE Healthcare)
- HP Inc.
- LG Corporation
- ManageEngine
- New Vision Display (Shenzhen) Co, Ltd.
- Novanta Inc
- Siemens AG
- Sony Electronics Inc.
- SOT Medical Systems
- WIDE Corporation
- Other Prominent Players
Key Segmentation:
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 Display Color
- Color Display
- Monochrome Display
By Application
- Diagnostic
- General Radiology
- Mammography
- Digital Pathology
- Multi-modality
- Surgical/ Interventional
- Dentistry
- Others
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
For more information about this report visit: https://www.astuteanalytica.com/industry-report/medical-display-market
About Astute Analytica
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