Growth in adoption of hybrid operating rooms, short replacement cycles of medical displays, and increase in preference for minimally invasive treatments propel the growth of the North America and Europe medical display market
PORTLAND, Oregon, Aug. 7, 2019 /PRNewswire/ -- Allied Market Research recently published a report, titled, "North America and Europe Medical Display Market by Device (Mobile, Desktop, and All-in-one products), Panel Size (Under-22.9-inch Panels, 23.0–26.9-inch Panels, 27.0–41.9-inch Panels, and Above-42-inch Panels), Resolution (Up to 2 MP, 2.1-4 MP, 4.1-8 MP, and Above 8 MP), and Application (Digital Pathology, Multi-modality, Surgical, Radiology, Mammography, and Other Applications): Opportunity Analysis and Industry Forecast, 2019–2026." The report provides a detailed analysis of the drivers & opportunities, wavering market trends, competitive market landscape, and market size & estimates. According to the report, the North America and Europe medical display market was estimated at $1.01 billion in 2018 and is expected to hit $1.51 billion by 2026, registering a CAGR of 5.2% during the study period.
Growth in adoption of hybrid operating rooms, short replacement cycles of medical displays, and increase in preference for minimally invasive treatments fuel the growth of the North America and Europe medical display market. On the other hand, market saturation in developed countries and increasing adoption of refurbished medical displays restrain the growth to some extent. However, technological advancements in imaging techniques are expected to pave the way for a number of lucrative opportunities in the near future.
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The desktop segment to lead the trail during the study period-
Based on device, the desktop segment contributed to 89% of the total market revenue in 2018 and is expected to dominate throughout the forecast period. As the most widely used medical displays due to ease of usage and better compatibility, desktops have just become an inevitability in almost every surgical procedure. The same segment is also projected to grow at the fastest CAGR of 5.4% by 2026.
The surgical segment to remain lucrative till 2026-
Based on application, the surgical segment accounted for more than one-fourth of the total market share in 2018 and is anticipated to rule the roost throughout 2019–2026. This is attributed to the higher adoption of medical displays in surgical procedures. Simultaneously, the segment would grow at the fastest CAGR of 6.1% during the estimated period.
The U.S generated the largest share in 2018-
Based on geography, the U.S segment held the major share in 2018, contributing to nearly two-fifths of the total market. Availability of medical displays with high end configurations has spurred the growth of the segment. At the same time, Germany is predicted to showcase the fastest CAGR of 6.6% during 2019–2026.
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Frontrunners in the industry-
The key market players analyzed in the report include ASUSTeK Computer Inc., Axiomtek Co., Ltd., JVC Kenwood Holdings Inc., Barco NV, BenQ Medical Technology, Sony Corporation, Coje CO., LTD., Dell Technologies Inc., LG Display Co., Ltd., Novanta Inc. (Novanta), Advantech Co., Ltd. (Advantech), Shenzhen Beacon Display Technology Co., Ltd., Double Black Imaging Corporation, FSN Medical Technologies, EIZO Corporation (EIZO), Hisense Medical, HP INC., Nanjing Jusha Commercial & Trading Co, Ltd., Alpha Display, and Steris PLC.
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