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Global Medical Display Market is Set for a Positive Growth Forecast at CAGR of 4.6% till 2023

Press Release   •   Apr 16, 2018 11:51 IST

Bharat Book Bureau Provides the Trending Market Research Report on “Medical Display Market,Forecast to 2023” under Life Sciences category. The report provides information on industry overview, market size, latest developments, industry trends, Key Manufacturers, global presence, and their future prospects.

The Medical Display Market is expected to reach USD 2.33 billion by 2023 from an estimated USD 1.86 billion in 2018, at a CAGR of 4.6%.

High adoption of hybrid operating rooms, increasing preference for display assisted minimally invasive surgeries, shorter replacement cycles, rise in the number of diagnostic imaging clinics, development in healthcare infrastructure in emerging countries, and technological advancements are factors driving the medical display market. However, market saturation in matured markets and the increasing adoption of refurbished and consumer-grade displays may hinder the adoption of these solutions among healthcare providers to a certain extent.

The OLED display segment is expected to register the highest CAGR during the forecast period.

On the basis of technology, the medical display market is segmented into LED-backlit LCD display, CCFL-backlit LCD display and OLED displays. The OLED displays segment is expected to register the highest CAGR during the forecast period. The high growth in this segment is attributed to the fact that OLED technology is more technologically advanced than LED-backlit LCD displays and produces more vivid and high-quality images.

Diagnostic application is expected to grow at the highest CAGR from 2018 to 2023

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Latin America is projected to witness the highest growth during the forecast period

North America held the largest share of the global medical display market in 2017. On the other hand, Latin America is expected to witness the highest CAGR during the forecast period. Factors such as government incentive programs, hospital building projects, rapid transition to digital technology are driving the Latin American market.

Break of primary participants was as mentioned below:

  • By Company Type – Tier 1–38%, Tier 2–27% and Tier 3–35%
  • By Designation – C-level–28%, Director Level–42%, Others–30%
  • By Region – North America–36%, Europe–24%, Asia Pacific–17%, Rest of the World–23%
  • Prominent players in the healthcare medical display market are Barco (Belgium), EIZO (Japan), Sony (Japan), LG Display (South Korea), Novanta (US), FSN Medical (South Korea), Advantech (Taiwan), Quest International (US), STERIS (UK), Jusha Medical (China), Double Black Imaging (US), Dell (US), HP (US), Shenzhen Beacon Display (China), COJE Display (South Korea), and Axiomtek (Taiwan).

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