New York, June 15, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Medical Display Global Market Report 2023" - https://www.reportlinker.com/p06466506/?utm_source=GNW
, Novanta, Double Black Imaging Corporation, Nanjing Jusha Commercial &Trading Co Ltd., and Coje Co Ltd.
The global medical display market is expected to grow from $2.32 billion in 2022 to $2.47 billion in 2023 at a compound annual growth rate (CAGR) of 6.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The medical display market is expected to reach $3.16 billion in 2027 at a CAGR of 6.3%.
The medical display market consists of display sales of holography, surgical field cameras, monitors and servers.Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
A medical display refers to a device with a screen that shows an electronic image made up of pixels such as pulse, blood pressure, and other medical attributes in the healthcare setting.
North America was the largest region in the medical display market in 2022. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main medical display color types are monochrome displays, and color displays.Monochrome refers to a computer display system in which computer text and images are displayed in varying shades of only one color.
The various technologies are light emitting diode (led), backlit liquid crystal display, organic light emitting diode (oled) display, and cold cathode fluorescent light (ccfl), used through desktop, mobile, and all in one applied in digital pathology, multi-modality, surgical, radiology, mammography, and others. The end users are hospitals, diagnostic centres, and community healthcare.
The growing number of diagnostic centers is expected to propel the growth of the medical display market going forward.A diagnostic center is a scientific clinical laboratory that detects and diagnoses diseases by testing blood, triglycerides, urine, cholesterol, and other bodily substances.
Medical displays are required in the diagnostic centers to display the medical vital signs of the patient, such as the pulse rate, body temperature, and blood pressure, on a monitor, as well as to interpret and display the test results of the patient being tested.Therefore, the growing number of diagnostic centers is driving the growth of the medical display market.
For instance, in March 2023, according to the United States Census Bureau, a US-based principal agency of the U.S. Federal Statistical System, the revenue of United States medical and diagnostic laboratories increased from USD 12.41 billion in Q2 2020 to USD 16.93 billion in Q2 2021. For instance, in August 2022, according to the Centres for Medicare and Medicaid Services (CMS), a US-based federal agency under the United States Department of Health and Human Services, the number of certified clinical laboratories in the United States increased by about 13 percent, from 2,86,396 in 2020 to 3,23,086 in 2021. The growing number of diagnostic centers is driving the medical display market.
Product innovations are a key trend gaining popularity in the medical display market.Major companies operating in the medical display market are focused on developing new solutions to sustain their position in the market.
LG Business Solutions USA, a US-based company that specializes in commercial displays, enterprise mobility solutions, and solar modules for a range of business types, launched medical-grade diagnostic monitors, the 31-inch, 12-megapixel 31HN713D.It is specially made with an auto-luminance sensor that adjusts screen brightness for ambient lighting conditions and a built-in presence sensor that turns off the display when it is not in use.
It is used for multiple modes of diagnostic study, including 3D mammography, and is optimized for mammography display challenges, offering a complete imaging line for remote and in-hospital radiologists.
In March 2020, Anders Electronics Plc, a UK-based electronics manufacturing company, acquired Selectronic Ltd for an undisclosed amount.Through this acquisition, Anders aims to strengthen its position by expanding in the display, touch, and embedded computing markets, enabling it to offer a range of technology, engineering services, and products to customers.
Selectronic Ltd. is a UK-based appliance, electrical, and electronics manufacturing company that designs and develops optoelectronic products such as active displays and LEDs for all applications.
The countries covered in the medical display market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The medical display market research report is one of a series of new reports that provides medical display market statistics, including medical display industry global market size, regional shares, competitors with a medical display market share, detailed medical display market segments, market trends and opportunities, and any further data you may need to thrive in the medical display industry. This medical display market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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