Medical Display Market

Executive Summary

The Medical Display Market is witnessing substantial expansion as a result of the surging need for cutting-edge imaging technologies in the healthcare sector, the escalating incidence of chronic illnesses, and the rising acceptance of minimally invasive surgeries. Medical displays play a vital role in delivering high-resolution images for precise diagnosis and treatment. This report offers a comprehensive assessment of the medical display market, encompassing its present condition, primary factors driving its growth, market segmentation, competitive landscape, and future prospects.

Market Overview

In 2024, the market size is estimated to be USD 2.1 billion. By 2032, the market is projected to reach USD 4.5 billion, reflecting a compound annual growth rate (CAGR) of 9.8%.

Key Drivers

1. Technological advances: Innovations in display technologies such as OLED and QLED improve image quality.

2. Growing demand for diagnostic imaging: The need for accurate and early diagnosis of diseases is increasing. 3. Prevalence of chronic diseases: Chronic diseases such as cancer and cardiovascular diseases are increasing.

4. Adoption of Minimally Invasive Surgeries: There is a growing demand for minimally invasive surgical procedures that require high-resolution displays.

5. Development of health care infrastructure: Expansion of health services, especially in developing economies.

Medical Display Market

Size, by Product, - (USD Billion)

LED-Backlit LCD

OLED

QLED

Other Products

The Market will Grow

At the CAGR of:

9.8%

The Forecast Market

Size for in USD:

$4.5 Billion

Market Segmentation

• By Type

LED-Backlit LCD

OLED

QLED

• By Application

Diagnostic Imaging

Surgical

Dentistry

Digital Pathology

Others

• By End-User

Hospitals

Diagnostic Centers

Ambulatory Surgical Centers

Specialty Clinics

• By Region

North America

Europe

Asia-Pacific

Latin America

Middle East & Africa

Competitive Landscape

The market is distinguished by the existence of numerous significant participants who are prioritizing product innovation, strategic collaborations, and consolidations to enhance their market standing.

Major Players

- Barco NV

- Eizo Corporation

- LG Display Co., Ltd.

- Sony Corporation

- Novanta Inc.

- Siemens Healthineers

- Advantech Co., Ltd.

- BenQ Medical Technology

- NEC Corporation

- Koninklijke Philips N.V.

Detailed Market Segmentation

By Type

1. LED-Backlit LCD

   - Market Share (2024): 60%

   - Key Features: Cost-effective, high brightness, good color accuracy.

   - Applications: Widely used in diagnostic imaging and surgical displays.

2. OLED

   - Market Share (2024): 25%

   - Key Features: Superior contrast ratio, faster response time, better viewing angles.

   - Applications: Increasingly used in surgical and diagnostic displays where image quality is critical.

3. QLED

   - Market Share (2024): 15%

   - Key Features: High brightness, excellent color gamut, long lifespan.

   - Applications: Emerging technology with potential applications in various medical displays.

Medical Display Market

Share, by end user, (USD Billion)

2.1 Billion%

Diagnostic Imaging

Surgical, Dentistry

Digital Pathology

Others

Other End-Users

4.5 Billion

Total Market Size

USD (Billion),

9.8%

CAGR

-

By Application

1. Diagnostic Imaging

   - Market Share (2024): 40%

   - Drivers: Rising demand for accurate and early diagnosis, technological advancements in imaging modalities.

   - Key Players: Barco, Eizo.

2. Surgical

   - Market Share (2024): 30%

   - Drivers: Increase in minimally invasive surgeries, need for high-resolution displays in operating rooms.

   - Key Players: Sony, LG Display.

3. Dentistry

   - Market Share (2024): 10%

   - Drivers: Growing focus on digital dentistry, need for detailed imaging in dental procedures.

   - Key Players: NEC, Advantech.

4. Digital Pathology

   - Market Share (2024): 15%

   - Drivers: Rising adoption of digital pathology, need for high-resolution imaging for accurate pathology reports.

   - Key Players: Philips, Siemens Healthineers.

5. Others

   - Market Share (2024): 5%

   - Includes: Veterinary, dermatology, etc.

   - Key Players: Various niche manufacturers.

By End-User

1. Hospitals

   - Market Share (2024): 45%

   - Drivers: Large-scale adoption of advanced medical displays, need for efficient patient care and accurate diagnosis.

   - Key Players: Barco, Siemens Healthineers.

2. Diagnostic Centers

   - Market Share (2024): 25%

   - Drivers: Increasing number of diagnostic centers, growing demand for advanced imaging solutions.

   - Key Players: Eizo, NEC.

3. Ambulatory Surgical Centers

   - Market Share (2024): 15%

   - Drivers: Rising trend of outpatient surgeries, need for cost-effective and portable displays.

   - Key Players: Advantech, BenQ Medical Technology.

4. Specialty Clinics

   - Market Share (2024): 15%

   - Drivers: Specialized diagnostic and treatment requirements, need for high-quality imaging solutions.

   - Key Players: LG Display, Sony.

Market Trends and Insights

1. Advanced Display Technologies: Implementation of technologies such as 8K resolution and HDR in medical display systems.

2. Mobile and Wearable Displays: Rise in the utilization of portable and wearable display devices within medical settings.

3. Telemedicine Incorporation: Expansion of medical display usage in telemedicine and distant diagnostic practices.

4. AI and Machine Learning Integration: Utilization of AI and machine learning algorithms to enhance image analysis and diagnostic capabilities.

5. Emphasis on Sustainability: Prioritization of eco-friendly and energy-efficient display technologies in the medical field.

Competitive Landscape

Competition in the medical display market is characterized by the presence of several large players, each trying to innovate and increase market share through product development, strategic partnerships and acquisitions.

Major Players and Their Strategies

1. Barco NV

Strategy: Focus on high-end diagnostic and surgical displays, strategic partnerships with healthcare providers.

Recent Development: Launch of a new range of 8K surgical displays.

2. Eizo Corporation

Strategy: Emphasis on diagnostic displays with high resolution and color accuracy.

Recent Development: Introduction of a new line of monitors with AI-based image enhancement features.

3. LG Display Co., Ltd.

Strategy: Diversification into various medical applications, strong focus on OLED technology.

Recent Development: Expansion of OLED display production for medical use.

4. Sony Corporation

Strategy: Focus on high-resolution surgical displays and imaging solutions.

Recent Development: Collaboration with medical device manufacturers to integrate displays into surgical systems.

5. Novanta Inc.

Strategy: Expansion through acquisitions and innovation in imaging technologies.

Recent Development: Acquisition of medical display technology firms to enhance product offerings.

6. Siemens Healthineers

Strategy: Integration of displays with imaging systems, focus on diagnostic and digital pathology displays.

Recent Development: Launch of advanced digital pathology display solutions.

7. Advantech Co., Ltd.

Strategy: Focus on cost-effective and portable medical displays, targeting emerging markets.

Recent Development: Introduction of a new range of portable displays for telemedicine applications.

8. BenQ Medical Technology

Strategy: Emphasis on high-quality displays for dental and surgical applications.

Recent Development: Launch of 4K displays for dental imaging.

9. NEC Corporation

Strategy: Focus on diagnostic and surgical displays, leveraging AI for image enhancement.

Recent Development: Development of AI-powered diagnostic display solutions.

10. Koninklijke Philips N.V.

Strategy: Integration of displays with broader healthcare solutions, focus on digital pathology.

Recent Development: Launch of a new digital pathology imaging system with high-resolution displays.

Medical Display Market

Size, by Product, - (USD Billion)

The Market will Grow

At the CAGR of:

9.8%

The Forecast Market

Size for in USD:

$4.5 Billion

Future Outlook

The medical display market shows great promise for the future, as it is poised for substantial growth due to technological advancements, rising need for high-resolution imaging, and the expansion of healthcare infrastructure on a global scale.

FAQs 

1. What is a medical display?

   - A medical display is a high-resolution monitor used in healthcare settings to display medical images from various imaging modalities, such as X-rays, MRIs, and CT scans. These displays are crucial for accurate diagnosis, treatment planning, and surgical procedures.

2. What are the different types of medical displays?

   - Medical displays can be classified into three main types: LED-Backlit LCD, OLED, and QLED. LED-Backlit LCDs are cost-effective and widely used, OLED displays offer superior contrast and faster response times, and QLED displays provide high brightness and excellent color gamut.

3. What are the main applications of medical displays?

   - The primary applications of medical displays include diagnostic imaging, surgical displays, dentistry, digital pathology, and other niche applications like veterinary and dermatology imaging.

4.*Who are the primary end-users of medical displays?

   - The main end-users of medical displays are hospitals, diagnostic centers, ambulatory surgical centers, and specialty clinics. Hospitals and diagnostic centers are the largest users due to their need for advanced imaging solutions.

5. What factors are driving the growth of the medical display market?

   - The key drivers include technological advancements in display technologies, rising demand for diagnostic imaging, increasing prevalence of chronic diseases, growing adoption of minimally invasive surgeries, and the development of healthcare infrastructure.

6. Which regions are leading the medical display market?

   - North America, Europe, and Asia-Pacific are the leading regions in the medical display market. North America is driven by advanced healthcare infrastructure and high adoption rates of new technologies, Europe has a strong emphasis on healthcare quality, and Asia-Pacific is experiencing rapid development and increasing healthcare investments.

7. Who are the major players in the medical display market?

   - Major players in the market include Barco NV, Eizo Corporation, LG Display Co., Ltd., Sony Corporation, Novanta Inc., Siemens Healthineers, Advantech Co., Ltd., BenQ Medical Technology, NEC Corporation, and Koninklijke Philips N.V.

8. What are the future trends in the medical display market?

   - Future trends include the introduction of enhanced display technologies like 8K resolution and HDR, increased use of portable and wearable displays, integration with telemedicine and remote diagnostics, the incorporation of AI and machine learning for improved image analysis, and a focus on sustainability with eco-friendly and energy-efficient display technologies.

Medical Display Market TO (USD BN)

CAGR OF

9.8%

Medical Display Market

4.5 Billion%