Global Medical Display Monitor Market – Analysis and Forecast (2018-2024)

Industry Insights by Technology (LED-Backlit LCD, Organic Light-Emitting Diode (OLED), and CCFL-Backlit LCD), by Resolution (Up to 2MP, 3MP-4MP, 5MP-8MP, and Above 8MP), by Display Color (Monochrome, and Colored), by Panel Size (Under 22.9 Inches, 23.0-26.9 Inches, 27.0-41.9 Inches, and above 42 Inches), and by Application (Diagnostic, Clinical, and Surgical)

Status : Upcoming
Report Code : VRHC1116
Available Format : PDF
Industry : Healthcare

Industry Overview

The medical display monitor is used by medical physicians, surgeons, radiologists and information technology specialists. The global medical display monitor market is growing at a significant rate, due to the mounting occurrence of chronic diseases, the escalating need for minimally invasive treatments. Different technologies such as LED-backlit LCD, organic light-emitting diode (OLED), and CCFL-backlit LCD contributed to the medical display monitor market size. The market has witnessed high demand for LED-backlit LCD as the monitors are compact, have better contrast ratio, easily available, and offer more brightness.

Market Segmentation

Insight by Technology

On the basis of technology, the market is subdivided into LED-backlit LCD, organic light-emitting diode (OLED), and CCFL-backlit LCD. Of all technologies, LED-backlit LCD segment accounted the largest share in the market, as the monitors are compact, have better contrast ratio, easily available, and offer more brightness. Moreover, the organic light-emitting diode (OLED) segment is expected to grow at the fastest rate in the market.

Insight by Resolution

On the basis of resolution, the market is subdivided into up to 2MP, 3MP-4MP, 5MP-8MP, and above 8MP. Of all the resolution, the 5MP-8MP segment accounted the largest share and is expected to grow at fastest rate in the medical display monitor market as these monitors provide enhanced quality images for several diagnostic and surgical purposes.

Insight by Display Color

On the basis of display color, the market is subdivided into monochrome and colored. Of all the display color, the colored segment accounted foremost share and is expected to grow at a faster rate in the medical display monitor market due to its enhanced visualization effects and multi-modality capability.

Insight by Panel Size

On the basis of panel size, the market is subdivided into under 22.9 inches, 23.0-26.9 inches, 27.0-41.9 inches, and above 42 inches. Of all the panel size, the 23.0-26.9 inches segment accounted the largest share and is expected to grow at the fastest rate in the medical display monitor market.

Insight by Application

On the basis of application, the market is subdivided into diagnostic, clinical, and surgical. Among all applications, the diagnostic application accounted the largest share and is expected to grow at fastest rate in the medical display monitor market due to the escalating implementation of various imaging applications such as magnetic resonance imaging, x-ray, and computed tomography.

Industry Dynamics

Industry Trends

Mounting use of 3D technology in medical display monitoring devices is the trend in the medical display monitor market.

Growth Drivers

The mounting occurrence of chronic diseases, the escalating need for minimally invasive treatments, intensifying acceptance of hybrid operation room technologies, and small replacement cycle of medical display technologies are the primary growth drivers for medical display monitor market. For instance, according to GLOBOCAN globally, approximately 14.1 million new cancer cases were diagnosed and there were 8.2 million cancer deaths in 2012. In addition, according to the World Health Organization (WHO), in 2015 approximately 8.8 million people died due to cancer. Moreover, approximately 70% of the deaths from cancer occur in low and middle-income countries.

Mounting assets in medical imaging devices, intensifying healthcare expenditure, expanding the number of diagnostic imaging centers, and escalating alertness about medical display monitors in developing countries are also facilitating the growth for the medical display monitor market.

Challenges

Elevated price of medical display monitoring devices and mounting acceptance of refurbished medical display monitors are the major challenges for the growth of the medical display monitor market.

Industry Ecosystem

Globally, the manufacturing companies trying to enter the medical display monitor market are required to maintain stringent regulatory standards. Moreover, the high level of capital requirement also poses a major barrier to the entry of new players. This offers an edge to the established players in the industry competition.

Geographic Overview

Geographically, North America is the largest medical display monitor market as in the region the acceptance of minimally invasive surgeries is increasing. In addition, the mounting occurrence of chronic diseases, escalating healthcare spending, and enhance healthcare infrastructure are also up surging growth of the North American medical display monitor market. For instance, according to GLOBOCAN in the U.S., approximately 1.6 million new cancer cases were diagnosed and there were 0.6 million cancer deaths in 2012.

Asia-Pacific is observed to witness the fastest growth in the market, due to the large population base, and expanding the geriatric population. In addition, the mounting need for medical imaging devices, intensifying healthcare expenditure, and escalating occurrence of chronic diseases are also creating a positive impact on the medical display monitor market growth in the region.

Competitive Insight

Key players in the medical display monitor market are catering to the demand of these devices by investing in technologically advanced products in their product portfolio across the globe. In January 2017, Advantech acquired Kostec, to improve its presence in South Korea in the medical display. Steris plc, EIZO Corporation, JVC KENWOOD Corporation, Siemens AG, Advantech Co. Ltd., Sony Corporation, LG Display Co. Ltd, and Barco NV are the key players offering medical display monitor.

Medical Display Monitor Market Ask for customization      Request for Sample