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Medical Display Monitor Market Demand and Growth

Display monitors are among the most essential and easily recognizable equipment types at healthcare settings. A lot of the diagnoses these days are made by doctors based on what they see on these monitors. From the results of imaging studies and vital sign readings to what is going on inside the body, as the surgeon operates, everything can be seen on such screens. With the increasing population around the world, the demand for healthcare services is constantly going up. With more medical centers being set up in this regard, the procurement of display monitors is also rising.

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Medical Display Monitor Market Demand and Growth

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  1. Medical Display Monitors Helping Diagnose and Treat Diseases 1 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

  2. The growing cases of chronic illnesses, like cancer and cardiovascular diseases (CVD), have boosted the adoption of display monitors in hospitals, clinics, nursing homes, homecare settings, and nursing homes. According to the American Cancer Society, the U.S. will record around 608,570 cancer deaths and 1.9 million new cancer cases in 2021. In recent years, physicians have switched from cathode ray tube (CRT) monitors to flat-panel liquid crystal display (LCD) variants to diagnose chronic disorders, as LCDs are more compact, have a better contrast ratio, and offer more brightness than the former. Request to Get the Sample Pages at: https://www.psmarketresearch.com/market-analysis/medical-display- monitor-market/report-sample Moreover, the surging awareness regarding display monitors and burgeoning investments in medical imaging device development will drive the medical display monitor market at a 4.9% CAGR during the forecast period (2018–2023). The market generated revenue of $2.1 billion in 2017, and it is expected to attain a $2.8-billion size by 2023. These factors offer lucrative opportunities to key players like Steris plc, JVCKENWOOD Corporation, Advantech Co. Ltd., Siemens AG, Barco NV, Jusha Medical, Novanta Inc., and Sony Corporation to increase their sales. The resolution segment of the medical display monitor market is classified into up to 2 Megapixels (MP), 3 MP–4 MP, 5 MP–8 MP, and above 8MP. In 2017, the 5 MP–8 MP category accounted for the largest share, as such monitors offer better-quality images in several diagnostic and surgical applications as compared to display monitors with other resolution ranges. Owing to this reason, this category will also exhibit the fastest growth during the forecast period, as per P&S Intelligence. The aforementioned screen resolutions are available in monitors of various panel sizes, which include under 22.9 inches, 23.0–26.9 inches, 27.0–41.9 inches, and above 42 inches. In recent years, the adoption of 23.0–26.9-inch panels for surgical, clinical, and diagnostic applications has witnessed a significant rise. Such diagnostic display monitors are used for X-ray, computed tomography (CT), and magnetic resonance imaging (MRI). Owing to the rising incidence of road accidents and chronic diseases, the requirement for these monitors will surge in the future. Globally, North America adopts the highest number of medical display monitors due to the increasing shift toward minimally invasive surgeries (MISs) and growing cases of chronic disorders. For instance, the American Society of Plastic Surgery (ASPS) states that the U.S. recorded 16.3 million cosmetic MISs in 2019. Moreover, the U.S. Centers for Disease Control and Prevention (CDC) estimates that the country witnesses at least one CVD- related death every 36 2 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

  3. seconds. Additionally, the huge healthcare spending in the U.S. will boost the installation of medical display screens in the future. The Latin American (LATAM) medical display monitor market is expected to register the fastest growth throughout the forecast period. This can be owed to the widescale adoption of innovative diagnostic imaging technologies and booming population of the elderly. According to a 2017 report of the United Nations Department of Economic and Social Affairs (UNDESA), the population of individuals aged 65 years and above in Brazil is projected to reach around 58 million by 2050. The aged population is more susceptible to chronic diseases, which require medical imaging devices during diagnostic, screening, and surgical processes. Thus, the increasing prevalence of life-threatening diseases and improving healthcare infrastructure will boost the integration of medical display monitors in surgical and diagnostic settings. The research offers market size of the Medical Display Monitor for the period 2013–2023. Market Segmentation by Technology LED-backlit LCD CCFL-backlit LCD Organic light-emitting diode (OLED) Market Segmentation by Resolution 5MP–8MP Up to 2MP Above 8MP 3MP–4MP Market Segmentation by Display Color Colored Monochrome Market Segmentation by Panel Size 23.0–26.9 inches 27.0–41.9 inches Under 22.9 inches Above 42 inches Market Segmentation by Application Diagnostic Clinical Surgical Market Segmentation by Geography • • • • • • • • • • • • • • • • 3 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

  4. North America medical display monitor market • oBy technology oBy resolution oBy display color oBy panel size oBy application oBy country – U.S. and Canada Europe medical display monitor market • oBy technology oBy resolution oBy display color oBy panel size oBy application oBy country – Germany, France, U.K., Italy, Spain, and Rest of Europe Asia-Pacific (APAC) medical display monitor market • oBy technology oBy resolution oBy display color oBy panel size oBy application oBy country – Japan, China, India, and Rest of APAC Latin America (LATAM) medical display monitor market • oBy technology oBy resolution oBy display color oBy panel size oBy application oBy country – Brazil, Mexico, and Rest of LATAM Middle East and Africa (MEA) medical display monitor market • oBy technology oBy resolution oBy display color oBy panel size oBy application oBy country – Saudi Arabia, U.A.E., and Rest of MEA 4 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

  5. 5 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

  6. Disclaimer: P&S Intelligence always keeps its customers’ interests at the core while carrying out research activities. P&S Intelligence ensures the reliability and accuracy of information and data provided in its market research publications. However, the information in publications is subject to fluctuations, as it is based on primary interviews of officials from various companies or organizations. P&S Intelligence is not responsible for any incorrect data provided by the key industry players of the concerned domain. The information or analysis in P&S Intelligence publications represents opinions based on research and should not be interpreted as statements of fact. Information in this report was believed to be correct at the time of publication, but cannot be guaranteed. P&S Intelligence does not endorse any product, service, or vendor depicted in its research publications. All intellectual properties, including trademarks and copyrights, belong to their respective owners and may be protected by copyright. Under no circumstance can these be reproduced in any form without prior written agreement of their owners. An order for market research report is intended for internal use of the company only and not for disclosure to third parties or any other publication in general. No service, report, or part thereof provided by P&S Intelligence can be reproduced, republished, resold, revealed, distributed, circulated, or sublicensed in any medium or form now realized or hereafter become realized, including but not limited to, all forms of optical-based media, magnetic, electronic, or digital, without a written permission from Prescient & Strategic Intelligence Pvt. Ltd. Kindly write to: enquiry@psmarketresearch.com B-13, Sector – 2, Noida, U.P. – 201301, INDIA Contact No: +91 120 4541 337 US/Canada Toll-Free: 1-888-778-7886 6 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

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