New York, NY -- (SBWire) -- 04/27/2021 --High investments in R&D of medical displays along with high demand for the multimodality system medical displays from medical settings are propelling the market growth.
Medical Display Market Size – USD 1.84 Billion in 2019, Growth - CAGR of 5.7%, Trends –Rapid proliferation and adoption of medical displays in ambulatory centers and diagnostic centers globally.
The global Medical Display Market size is estimated to reach USD 3.06 billion from USD 1.84 billion in 2019, delivering a CAGR of 5.7% through 2027. The increasing penetration of medical imaging systems in the diagnostic care units across the world is driving the market growth.
The medical display technology is gaining massive popularity as it generates crisper, sharper, clearer images with less noise and also offers a longer life span as compared to the commercial displays. Extensive product application in mammography, bone, and chest imaging is supplementing medical display market revenue share. Rapid advancement in the technologies, along with rising awareness among the populace, is also fuelling the industry growth. Moreover, the global expansion of the geriatric population base will further offer lucrative scope for industry growth.
The growing adoption of hybrid operation rooms, rising number of diagnostics imaging centers, increasing preference for minimally invasive treatments, and short replacement cycle of medical displays are the key factors bolstering market growth through 2027.
Key players operating in the global medical display market include Sony Corporation, Samsung Electronics, LG Display Co Ltd, Novanta Inc., Barco NV, Siemens AG, Steris PLC, Eizo Corporation, The Hewlett-Packard Company, and Advantech Co., Ltd., among others.
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Further key findings from the report suggest
-Based on display resolution, the Up to 2MP segment is estimated to exhibit a growth rate of 4.4% over the projected timeframe.
-In terms of display size, the 23 to 41 Inches segment accounted for the largest market revenue share in 2019 and is set to register a CAGR of 6.2% through 2027.
-Based on form factor, the multimodality systems segment is estimated to register a CAGR of 7.1% through 2027. These systems are medical-grade displays that are specifically designed for multimodality images or both color and greyscale images for enhanced understanding.
-In terms of end-user, the hospital segment is anticipated to account for 49.5% of the medical display market share, delivering a CAGR of 5.8% through 2027 on account of large-scale incorporation of high-quality medical displays all the concerned departments.
-The clinics & diagnostic centers segment is forecast to hold 32.7% of the medical display market share, exhibiting a growth rate of 4.1% through 2027.
-With the extensive usage of high end IT medical systems, North America will dominate the market landscape, and the Asia Pacific, due to rapid technological advancements in the healthcare industry, may witness the fastest growth. The U.S., Germany, and Japan remain prominent players in the global medical display market.
-The APAC region is likely to witness the fastest growth rate of 8% during the analysis period on account of the record number of patients with chronic diseases and growth in the number of super-specialty healthcare centers due to and mounting need for diagnostic screening & health check-ups in the region.
-North America is estimated to exhibit a notable growth rate of 6% over the forecast period on account of the extensive proliferation of medical displays in hospitals and ambulatory centers coupled with the growing prevalence of geriatric diseases and the associated demand for diagnostic screening in the region.
-Led by Germany, Europe is forecast to be a major contributor to the medical display market growth in the region, with a CAGR of 5.4% through 2027.
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For the purpose of this report, Reports and Data has segmented the Global Medical Display Market on the basis of display resolution, sales channel, technology, form factor, display size, end-user, and region:
Display Resolution Outlook (Revenue, USD Billion; 2017-2027)
Up to 2MP
1MP to 4MP
1MP to 8MP
Above 8MP
Sales Channel Outlook (Revenue, USD Billion; 2017-2027)
Online Retailing
Medical Stores & Brand Outlet
Technology Outlook (Revenue, USD Billion; 2017-2027)
CCFL based LED
LCD based LED
OLED
Form Factor Outlook (Revenue, USD Billion; 2017-2027)
Color
Grayscale
Multimodality System
Display Size Outlook (Revenue, USD Billion; 2017-2027)
Below 23 Inches
23 to 41 Inches
Above 41 Inches
End-User Outlook (Revenue, USD Billion; 2017-2027)
Hospitals
Clinics & Diagnostic Centers
Ambulatory Centers & Dental Chambers
Others
Regional Outlook (Revenue, USD Billion; 2017-2027)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
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Table of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Medical Display Market Segmentation & Impact Analysis
4.1. Medical Display Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market driver's analysis
…
Chapter 9. Medical Display Market By Display Size Insights & Trends
9.1. Display Size Dynamics & Market Share, 2020 & 2027
9.2. Below 23 Inches
9.2.1. Market estimates and forecast, 2017 – 2027 (USD Billion)
9.2.2. Market estimates and forecast, By Region, 2017 – 2027 (USD Billion)
9.3. 23 to 41 Inches
9.3.1. Market estimates and forecast, 2017 – 2027 (USD Billion)
9.3.2. Market estimates and forecast, By Region, 2017 – 2027 (USD Billion)
9.4. Above 41 Inches
9.4.1. Market estimates and forecast, 2017 – 2027 (USD Billion)
9.4.2. Market estimates and forecast, By Region, 2017 – 2027 (USD Billion)
Chapter 10. Medical Display Market By End-Users Form Insights & Trends
10.1. End-Users Dynamics & Market Share, 2020 & 2027
10.2. Hospitals
10.2.1. Market estimates and forecast, 2017 – 2027 (USD Billion)
10.2.2. Market estimates and forecast, By Region, 2017 – 2027 (USD Billion)
Continue…
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In conclusion, the Medical Display Market report is a reliable source for accessing the Market data that will exponentially accelerate your business. The report provides the principal locale, economic scenarios with the item value, benefit, supply, limit, generation, request, Market development rate, and figure and so on. Besides, the report presents a new task SWOT analysis, speculation attainability investigation, and venture return investigation.
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Medical Display Market Growth Forecast at 5.7% CAGR to 2027 by Top Players Sony Corporation, Samsung Electronics, LG Display and Others
Medical Display Market To Reach USD 3.06 Billion By 2027