The
global medical display market is
projected to reach USD 2.33 billion by 2023 from USD 1.86 billion in 2018, at a
CAGR of 4.6%.
Factors such as a rise in the adoption of
minimally invasive surgeries and the increasing numbers of medical imaging
centers worldwide, and the growing adoption of hybrid ORs are expected to drive the medical displays
market during the forecast period.
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In this report, the market is segmented
by technology, panel size, resolution,
display color application, and region. On the
basis of technology, the global medical display market is segmented into CCFL-backlit LCD display, LED-backlit display, and OLED display.
The OLED display segment is expected to grow at the highest CAGR during the
forecast period. OLED displays produce high-contrast
medical images and deliver an intensely
wide color gamut compared to the LED-backlit LCD
displays. These advantages are driving the adoption of OLED displays in
the medical display market.
Based on panel size, the medical display market is
segmented into under 22.9-inch panels, 23.0-26.9-inch panels, 27.0-41.9-inch
panels, and above 42-inch panels. During the forecast period, 27.0-41.9-inch
panels are expected to grow at the highest CAGR.
Based on resolution, the medical display
market is segmented into up to 2MP
display, 2.1–4MP display, 4.1–8MP display, and above 8MP display. The above 8MP display segment is expected to grow at
the highest CAGR during the forecast period. The reducing ASP of display panels
is one of the major factors driving the demand for displays with a resolution
greater than 8MP.
Based on application, the medical display market is segmented into diagnostic, surgical/ interventional, dentistry
and other applications such as clinical review, education and conferences. The
surgical/interventional application is expected to grow at highest CAGR during
the forecast period.
Factors such as advancements in endoscopic video cameras, rapidly growing
surgical procedure volume, and growing demand for high-resolution 4K surgical
displays are driving the market for medial displays used in
surgical/interventional applications.
Geographically, the medical display market in the Latin America region is
expected to register the highest CAGR during the forecast period. The market in
Asia Pacific region is also expected to grow at significant pace. Growth in the
Latin American market is primarily driven by factors such as the improving
healthcare infrastructure, growing health awareness, rising per capita income,
and development of medical tourism in several Latin American countries.
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