The Medical Display by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Medical Display, The medical display market size has grown strongly in recent years. It will grow from $2.47 billion in 2023 to $2.64 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to growing demand for diagnostic imaging, advancements in healthcare infrastructure, increasing prevalence of chronic diseases, regulatory standards and compliance, rise in telemedicine practices..
The medical display market size is expected to see strong growth in the next few years. It will grow to $3.41 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to expansion of healthcare services, integration with health information systems, focus on preventive healthcare, increasing demand for 3d imaging, rapid growth of ambulatory care centers.. Major trends in the forecast period include introduction of hybrid displays, increased adoption of ai integration, shift toward portable and mobile displays, enhanced color calibration technologies, integration of cybersecurity measures..
The growing number of diagnostic centers is expected to propel the growth of the medical display market going forward. A diagnostic center is a scientific clinical laboratory that detects and diagnoses diseases by testing blood, triglycerides, urine, cholesterol, and other bodily substances. Medical displays are required in the diagnostic centers to display the medical vital signs of the patient, such as the pulse rate, body temperature, and blood pressure, on a monitor, as well as to interpret and display the test results of the patient being tested. Therefore, the growing number of diagnostic centers is driving the growth of the medical display market. For instance, in March 2023, according to the United States Census Bureau, a US-based principal agency of the U.S. Federal Statistical System, the revenue of United States medical and diagnostic laboratories increased from USD 12.41 billion in Q2 2020 to USD 16.93 billion in Q2 2021. For instance, in August 2022, according to the Centers for Medicare and Medicaid Services (CMS), a US-based federal agency under the United States Department of Health and Human Services, the number of certified clinical laboratories in the United States increased by about 13 percent, from 2,86,396 in 2020 to 3,23,086 in 2021. The growing number of diagnostic centers is driving the medical display market.
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The medical display market covered in this report is segmented –
1) By Display Color: Monochrome Displays, Color Displays
2) By Technology: Light Emitting Diode (LED), Backlit Liquid Crystal Display, Organic Light Emitting Diode (OLED) Display, Cold Cathode Fluorescent Light (CCFL)
3) By Device: Desktop, Mobile, All In One
4) By Application: Digital Pathology, Multi-Modality, Surgical, Radiology, Mammography, Other Applications
5) By End User: Hospitals, Diagnostic Centres, Community Healthcare
Product innovations are a key trend gaining popularity in the medical display market. Major companies operating in the medical display market are focused on developing new solutions to sustain their position in the market. LG Business Solutions USA, a US-based company that specializes in commercial displays, enterprise mobility solutions, and solar modules for a range of business types, launched medical-grade diagnostic monitors, the 31-inch, 12-megapixel 31HN713D. It is specially made with an auto-luminance sensor that adjusts screen brightness for ambient lighting conditions and a built-in presence sensor that turns off the display when it is not in use. It is used for multiple modes of diagnostic study, including 3D mammography, and is optimized for mammography display challenges, offering a complete imaging line for remote and in-hospital radiologists.
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