Status : Published | Published On : Oct, 2021 | Report Code : VRHC1200 | Industry : Healthcare | Available Format :
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Industry Overview
The global 4K medical imaging market was USD 840.2 million in 2020 and is anticipated to reach 2,146.7 million by 2027, registering a CAGR of 11.9% during the forecast period 2021-2027. 4K is an input source, display panel, or projector that has a resolution almost four times more than that of high-definition video. The 4K technology in the healthcare field makes it easy to access images with the highest possible resolution, resulting in making precise decisions for better treatment. The global 4K medical imaging market is beholding tremendous growth owing to the increasing investment for the development of healthcare infrastructure, growing evidence for effective and good results in treatment, and for assistance in diagnosis. Moreover, the increasing adoption of minimally invasive surgical procedures, usage of hybrid operating rooms, increasing demand for advanced modalities, and enhancing reimbursement framework in emerging economies will propel the growth of the 4K medical imaging market.
The COVID-19 pandemic has led to economic turmoil, various countries are working towards game-changing improvements to protect their employees and clients. The COVID-19 has negatively affected the global 4K medical imaging market owing to disruption in the supply of imaging devices, demand for medical imaging like MRI has also gone down resulting in the reduction in the slowdown in the business for the 4K medical imaging market.
Market Segmentation
Insight by Product Type
Based on product type, the global 4K medical imaging market is divided into 4K medical displays, 4K camera systems, and 4K Advanced Visualization Systems (Microscopic Systems). The 4K medical displays are growing significantly and are having the largest share in the 4K medical imaging market owing to the fast adoption of hybrid operating rooms as it provides various advantages such as time and cost-effectiveness, integrating different facilities. Moreover, the patients’ data of different devices are shown on the desired display and provides better visualization quality will further propel the growth of the 4K medical imaging market.
The 4K medical displays market is divided into resolution type and panel size. Based on resolution type, the 4K medical display market is segmented into 4K UHD (3840*2160) medical displays and 4K DCI (4096*2160) medical displays. Based on panel size, the 4K medical display market is segmented into 28” and below display panels, 28”-54” display panels, and 55” and above display panels.
Based on component, the 4K camera system is divided into endoscopic cameras, microscopic cameras, OR cameras, Camera Control Units (CCUs), medical recorders. Endoscopic cameras are anticipated to hold the largest share in the global 4K medical imaging market owing to the rising adoption of minimally invasive surgeries.
Global 4K Medical Imaging Market Report Coverage
Report Metric |
Details |
Historical Period |
2015–2020 |
Base Year Considered |
2020 |
Forecast Period |
2022 - 2030 |
Market Size in 2020 |
$ 840.2 Million |
Revenue Forecast in 2027 |
$2,146.7 Million |
Growth Rate |
CAGR 11.9% |
Segments Covered in the Report |
By Product Type |
Report Scope |
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling |
Regions Covered in the Report |
North America, Europe, Asia-Pacific, Middle East, and Rest of the World |
Industry Dynamics
Industry Trends
The rising adoption of hybrid operating rooms and integrating products of various companies into a single product are the trends in the 4K medical imaging market.
Growth Drivers
The snowballing demand for superior visualization quality for medical imaging, benefits associated with 4K Ultra High Definition (UHD) over Full High Definition (FHD), rising incidence of chronic diseases, availability of technologically advanced products in the field of high-definition (HD) medical imaging will provide better patient-centric treatment, diagnostics, and accurate decisions, resulting in the growth of 4K medical imaging market.
Challenges
There is a need for high-speed connectivity, huge capital investment, availability of low-cost refurbished medical devices, doctors' and surgeons' reluctance to adopt advanced technologies like 4K medical imaging are the challenges faced by the 4K medical imaging market.
Opportunities
The advancement in 8K imaging modalities, demand for slim and flexible design for space-saving are the opportunities in the 4K medical imaging market.
Geographic Overview
North America is anticipated to hold the largest market share in the global 4K medical imaging market owing to the rise in patient acceptance for developed technologies and the well-established healthcare industry. The mounting awareness about advantages associated with the 4K medical imaging systems market includes clarity for better display, camera to capture better details, and developed visualization system will propel the growth in the region.
Competitive Insight
The industry players are incorporating collaborations and partnerships, driving innovation, adopt digital transformations in order to sustain and have a strong foothold in the global 4K medical imaging systems market.
Sony’s NUCLeUS is supporting a 4K resolution using existing network infrastructure and offers a streamlined workflow to operate rooms and clinical spaces having direct access to imaging data from an easy-to-use central dashboard.
NDA, a Novanta Company, has launched Radiance Ultra 4K 32’ monitor that showcased a 4K Ultra-High-Definition (UHD) visualization technology i.e., bringing high-precision 4K visualization to endoscopic surgery and a range of minimally invasive operating room (OR) applications.
Some of the key players operating in the 4K medical imaging market: STERIS, B. Braun Melsungen AG, CONMED Corporation, Sony Corporation, Stryker, Siemens Healthcare GmbH, Novanta Inc., EIZO Corporation, Ikegami Tsushinki Co., Ltd., and Medtronic.
The 4K Medical Imaging Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2021–2027.
Segments Covered in the Report
Region Covered in the Report
Source: VynZResearch
4K Medical Imaging Market