PUNE, India, March 19, 2018 /PRNewswire/ --
According to a new market research report "Medical Display Market by Technology (LED, OLED) Panel Size (≤22.9", 27.0-41.9", ≥42") Resolution (≤2MP, 4.1-8MP, ≥8MP), Application (Radiology, Mammography, Digital Pathology, Multi-modality, Surgical), & Display color - Global Forecast to 2023", published by MarketsandMarkets™, the 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%. The growing adoption of hybrid ORs, short replacement cycle of medical displays, increasing preference for minimally invasive treatments, and the rising number of diagnostic imaging centers are the major factors driving the growth of the market.
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LED-backlit LCD displays held the largest share of the medical display market, by technology in 2017.
On the basis of technology, the market is subsegmented into CCFL-backlit LCD display, LED-backlit display, and OLED display. In 2017, the LED-backlit LCD displays segment accounted for the largest share of the global medical display market. High-quality medical images and the high power efficiency offered by LED-backlit LCDs are the major factors driving its adoption in the market.
The under 22.9-inch panels segment accounted for the largest share of the medical display market in 2017.
By 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. In 2017, the under 22.9-inch panels segment accounted for the largest share of the global medical display market. Advancements in miniature circuits, microcontroller functions, front-end amplification, and wireless data transmission are the major factors driving the growth of this segment in the market.
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The diagnostic application segment held the largest market share of medical display market in 2017.
Based on application, the medical display market is segmented into diagnostic, surgical/ interventional, dentistry and other applications. The diagnostic application segment accounted for the largest share of medical display market in 2017. Factors such as the rapidly increasing prevalence of diseases such as cancer and the increasing number of patients being screened using imaging systems.
North America dominated the market in 2017.
North America accounted for the largest share of the medical display market in 2017, followed by Europe. North America's large share in the global market is primarily driven by the high penetration of advanced technologies such as hybrid operating room technologies, increasing volume of medical screening due to rising incidence/prevalence of various diseases, and replacement of older technologies with advanced display technologies such as OLED.
Prominent players in the healthcare medical display market include 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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