Medical Display Monitor Market

Industry Overview

The Medical Display Monitor Market is expected to grow from USD 2.2 billion in 2023 to USD 3.6 billion by 2030 at a compound annual growth rate (CAGR) of 5.3% during the forecast period ranging from 2025 to 2030.

The medical display monitor refers to the screen or the output unit that shows texts and images. These display monitors are primarily used by surgeons, medical physicians, radiologists, and information technology specialists and are available in different types and sizes. Whether it displays MRIs or X-rays, these display monitors are crucial in healthcare and are therefore manufactured adhering to strict quality standards to ensure maximum clarity and accuracy and facilitate detailed diagnosis and treatment planning.

The growth of the global medical display monitor market is attributed to the rising number of chronic diseases and the growing demand and need for minimally invasive treatments. The market comprises different technologies such as LED-backlit LCD, organic light-emitting diode (OLED), and CCFL-backlit LCD monitors where LED-backlit LCDs are high in demand because these monitors are available easily and offer higher brightness.

The high price of medical display monitoring devices is the most significant factor that hinders the growth of the global medical display monitor market. Growth opportunities of the market are seen in the strict regulatory requirements for maintaining image quality and ensuring safety in healthcare settings that need compliant medical display monitors.

Market Segmentation

Insight by Technology

The global medical display monitor market is divided based on technology into LED-backlit LCD, organic light-emitting diode (OLED), and CCFL-backlit LCD segments. Out of these segments, the LED-backlit LCD segment is expected to grow more during the projected period due to its compact and better contrast ratio.

Insight by Resolution

The global medical display monitor market is divided based on resolution into 2MP, 3MP-4MP, 5MP-8MP, and above 8MP. Among all these segmentations, the 5MP-8MP segment is expected to grow at a higher rate and account for the largest market share during the forecast period because the images produced are of much better quality.

Insight by Display Color

The global medical display monitor market is divided based on display color into monochrome and colored, where the colored segment is expected to account for a larger share during the forecast period and is expected to grow at a higher CAGR due to the improved visualization effects and multi-modality capabilities.

Insight by Panel Size

The global medical display monitor market is divided based on the size of the panel into less than 22.9 inches, 23.0-26.9 inches, 27.0-41.9 inches, and above 42 inches. Out of all these sizes, the 23.0-26.9-inch segment is expected to contribute a larger share to the market during the forecast period due to higher adoption and convenience.

Insight by Application

The global medical display monitor market is divided based on application into diagnostic, clinical, and surgical categories. Among all these categories, the diagnostic application segment will grow at the fastest rate and contribute to the larger market share during the projected period due to higher adoption and use in a wide range of imaging applications such as magnetic resonance imaging, X-ray, and computed tomography.

Insight by Aspect Ratio

The global medical display monitor market is divided based on aspect ratio into 16:09, 21:09, and 04:03 categories. Out of these three segments, the 16:9 segment is expected to dominate the market during the study period with a larger revenue share contributed to it due to the advantages offered such as high-definition and distortion-free images.

Global Medical Display Monitor Market Report Coverage

Report Metric	Details
Historical Period	2018 - 2023
Base Year Considered	2024
Forecast Period	2025 - 2030
Market Size in 2023	U.S.D.  xx.x Billion
Revenue Forecast in 2030	U.S.D.  xx.x Billion
Growth Rate	x.x%
Segments Covered in the Report	By Technology, By Resolution, By Display Color, By Panel Size and By Application
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, South America and Rest of the World

Industry Dynamics

Industry Trends

The significant development in 3D technology and its widespread use in medical display monitors is a notable trend in the medical display monitor market. In addition, there is a notable transition to high-resolution, such as 4K or 8K display monitors for better detail and clarity in diagnostic images. In addition, integration of AI algorithms, and higher use of portable and mobile medical displays are also noteworthy trends in the market.

Growth Drivers

The growth of the global medical display monitor market is primarily driven by the higher adoption of hybrid operation room technologies. In addition, the small replacement cycle of medical display technologies also contributes to the market growth. Apart from that, the growing assets in medical imaging devices also propel the market growth. The rise in healthcare expenditure as well as the growing number of diagnostic imaging centers also fuels the growth of the market. Another significant factor influencing the market growth is the growing awareness regarding medical display monitors in developing countries.

Challenges

The growth of the global medical display monitor market is restricted to some extent by the growing preference for cheaper alternatives such as refurbished medical display monitors. In addition, the strict regulatory standards and the high capital requirement that prevents new entrants into the market also cause significant setbacks to the growth of the market. 

Opportunities

The global medical display monitor market will grow due to rising demand and use of diagnostic imaging techniques, innovations and developments in display technology, rising healthcare investments worldwide for developing advanced medical equipment and state-of-the-art display monitors, and expansion of telemedicine and remote monitoring solutions.

Geographic Overview

North America is the largest contributor to the medical display monitor market. This is mainly attributed to the growing preference for minimally invasive surgeries and the rise in the number of chronic diseases. In addition, growing healthcare spending and developed healthcare infrastructure also surge the market in this region.

The Asia-Pacific market will grow during the forecast period at a higher CAGR due to the large population base and the growing geriatric population. In addition, the rising need for medical imaging devices and increasing healthcare expenditure as well as the rise in the number of chronic diseases also propels the market growth in this region.

Competitive Insight

Eizo Corporation is a Japanese visual technology company that manufactures display products and other solutions for markets such as business, air traffic control, healthcare, graphics, and maritime. The company is headquartered in Hakusan, Ishikawa Prefecture.

STERIS is a leading global provider of products and services that support patient care with an emphasis on infection prevention.

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. 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 monitors.

Recent Developments by Key Players

EIZO Corporation which is a global leader in visual technology has launched its new subsidiary, EIZO Private Limited, in Mumbai, Maharashtra, India. The establishment of this wholly-owned subsidiary marks EIZO's 11th overseas sales office and solidifies its position as a leading global provider of high-end visual solutions.

Foxconn has collaborated with India’s HCL Group to establish a chip packaging and testing venture, marking a significant investment in India’s growing semiconductor industry.

The Medical Display Monitor Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.

Segments Covered in the Report

• By Technology
  • LED-backlit LCD
  • Organic light-emitting diode (OLED)
  • CCFL-backlit LCD
• By Resolution
  • 2MP
  • 3MP-4MP
  • 5MP-8MP
  • Above 8MP
• By Display Color
  • Monochrome
  • Colored
• By Panel Size
  • 22.9 inches
  • 23.0-26.9 inches
  • 27.0-41.9 inches
  • Above 42 inches
• By Application
  • Diagnostic
  • Cclinical
  • Surgical

Geographical Segmentation

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia-Pacific (APAC)
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia-Pacific
• Rest of the World (RoW)
  • Brazil
  • Saudi Arabia
  • South Africa
  • U.A.E.
  • Other Countries

Source: VynZ Research

Source: VynZ Research