According to a new report published by Allied Market Research, titled, "North America and Europe Medical Display Market by Device, Panel Size, Resolution and Application: Opportunity Analysis and Industry Forecast, 2018-2026," the market is expected to reach $1,515.8 million by 2026, registering a CAGR of 5.2% from 2018 to 2026, in terms of value.
Visualization of medical images presented by PACS viewer on LCD displays has been critical part of the diagnosis procedures. Performing diagnosis with medical grade displays that provide better visualization compared to consumer displays has highlighted the importance of medical displays in healthcare facilities. Medical displays help streamlining the diagnosis as well as surgical procedures in hospitals with improvement of quality and consistency in performance. With such benefits, medical professionals such as surgeons, radiologists and information technology specialists need medical grade displays for better healthcare outcomes.
The key factors that drive the growth of the market include Increase in number of medical establishments and rise in healthcare expenditure fuel the demand for medical display devices in these regions. Furthermore, rise in geriatric population in the countries boosts the demand for medical-aid and medical display devices in North America and Europe. The growth in demand for multimodality displays for radiology and various medical applications to get a detailed view of ultrasound outputs and PET further drive the growth of the North America and Europe medical display market.
Based on device type, the North America and Europe market is divided into the desktop, mobile, and all-in-one product. The desktop segment is largest among the device type with its wide usage in major applications owing to high image quality, ease of image analysis, and others. Based on panel size, the market is divided into the under-22.9-inch panels, 23.0 to 26.9-inch panels, 27.0–41.9-inch panel, and above-42-inch panels. The 27.0–41.9-inch panel segment is largest among the panel size owing to its suitability for wide range of applications including surgical as well as diagnostics. Based on resolution, the North America and Europe medical display market is divided into up to 2MP, 2.1–4MP, 4.1–8MP, and above 8MP. The 2.1–4MP segment is largest among the device type owing to its decent configuration that is suitable for multiple applications. Based on application, the market is divided into the digital pathology, multi-modality, surgical, radiology, mammography, and others. The surgical segment is largest among the application owing to wide usage of medical displays for surgeries with its critical impact on the quality of procedures.
U.S. held the largest share of the market in 2018 owing to increase in adoption of hybrid operating rooms along with the short duration of replacement cycle supports the growth of the medical display market in North America. Moreover, the lesser budget constraints on the U.S. hospitals results in the increase in purchases of equipment including medical display, followed by Germany. On the other hand, Germany is also anticipated to be the fastest-growing regional segment during the analysis period due to rise in expenditure in healthcare and increase the demand for medical devices in Germany.
Key Benefits for North America and Europe Medical Display Market:
- This report entails a detailed quantitative analysis along with the current North America and Europe medical display market trends from 2019 to 2026 to identify the prevailing opportunities along with the strategic assessment.
- The North America and Europe medical display market forecast is studied from 2019 to 2026.
- The North America and Europe medical display market size and estimations are based on a comprehensive analysis of key developments in the industry.
- A qualitative analysis based on innovative products facilitates strategic business planning.
- The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the market.
Major players operating in the medical display market include Alpha Display, ASUSTeK Computer Inc., Axiomtek Co., Ltd., Barco NV, BenQ Medical Technology, Coje CO., LTD., Dell Technologies Inc., Double Black Imaging Corporation, FSN Medical Technologies, Hisense Medical, HP INC., JVC Kenwood Holdings Inc., Nanjing Jusha Commercial & Trading Co, Ltd., Shenzhen Beacon Display Technology Co., Ltd., Steris PLC, EIZO Corporation (EIZO), Sony Corporation, LG Display Co., Ltd., Novanta Inc. (Novanta), and Advantech Co., Ltd. (Advantech).