The North America and Europe medical display market was valued at $1,010.5 million in 2018 and is expected to reach $1,515.8 million by 2026 with a CAGR of 5.2% during the forecast period.
Diagnosing patients accurately using Picture Archive Communication System (PACS) viewer that displays medical images on LCD monitors is important for detecting various diseases. Thus, medical display devices are significant tools for medical professionals to see images better than the physical films or CRT monitors. Streamlining the overall hospital operations and improving patient care in the healthcare system is important for proper diagnosis. Medical professionals such as surgeons, radiologists and information technology specialists need medical grade monitors for consistent and accurate performance of medical display systems. Thus, adequacy of medical display monitors is a vital element in the modern hospitals.
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Increase in number of medical establishments and rise in healthcare expenditure fuel the demand for medical display devices in these regions. Furthermore, rise in geriatric population in the countries boosts the demand for medical-aid and medical display devices in North America and Europe. The growth in demand for multimodality displays for radiology and various medical applications to get a detailed view of ultrasound outputs and PET further drive the growth of the North America and Europe medical display market. Nonetheless, the higher costs associated with the devices restrict the growth of the market. The increase in demand for various diagnostic procedures such as ultrasound, medical resonance imaging, and X-ray are expected to provide newer opportunities for the market growth.
The North America and Europe medical display market is segmented into device, panel size, resolution, application, and region. Based on device, the market is categorized into mobile, desktop, and all-in-one product. Based on panel size, it is divided into under-22.9-inch panels, 23.0-26.9-inch panels, 27.0-41.9-inch panel, and above-42-inch panels. Based on resolution, it is studied across up to 2MP resolution displays, 2.1-4MP resolution displays, 4.1-8MP resolution displays, and above 8MP resolution displays. Based on application, it is classified into digital pathology, multi-modality, surgical, radiology, mammography, and others. Based on region, it is analyzed across North America and Europe.
The healthcare sector is vital to both national economies and people all across the world. One of the industries with the fastest growth rates is this one. There is a correlation between income levels and healthcare spending across nations because healthcare spending accounts for more than 10% of the GDP of the majority of developed countries. According to the Centers for Medicare and Medicaid Services, US healthcare spending increased by 4.6% in 2019 to reach US$ 3.8 trillion, or US$ 11,582 per person and represented 17.7% of GDP. Additionally, households paid for 28.4% of all health expenditures, followed by the federal government for 29.0%. 16.1% of all healthcare costs were paid for by state and municipal governments, while 7.5% came from other private sources.
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Due to advancements spurred by AI/ML, the impact of digital health technology will grow. Data from the Department for Promotion of Industry and Internal Trade show that FDI in the medicines and medication sector totaled US$19.12 billion (DPIIT).
KEY MARKET BENEFITS
> This report entails a detailed quantitative analysis along with the current North America and Europe medical display market trends from 2019 to 2026 to identify the prevailing opportunities along with the strategic assessment.
> The market forecast is studied from 2019 to 2026.
> The market size and estimations are based on a comprehensive analysis of key developments in the industry.
> A qualitative analysis based on innovative products facilitates strategic business planning.
> The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the market.
LIST OF KEY PLAYERS PROFILED IN THE REPORT
> ALPHA DISPLAY
> Advantech Co., Ltd. (Advantech)
> ASUSTeK Computer Inc.
> Axiomtek Co., Ltd.
> Barco NV
> BenQ Medical Technology
> COJE CO., LTD.
> Dell Technologies Inc.
> Double Black Imaging Corporation
> EIZO Corporation (EIZO)
> FSN Medical Technologies
> Hisense Medical
> HP INC
> JVC Kenwood Holdings Inc.
> LG Display Co., Ltd.
> Nanjing Jusha Commercial & Trading Co, Ltd.
> Novanta Inc. (Novanta)
> Shenzhen Beacon Display Technology Co., Ltd.
> Sony Corporation
> Steris PLC
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Key market segments
BY DEVICE
> Mobile
> Desktop
> All-in-one Product
BY PANEL SIZE
> Under 22.9-inch Panels
> 23.0-26.9-inch Panels
> 27.0-41.9-inch Pane
> Above 42-inch Panels
BY RESOLUTION
> Up To 2MP Resolution Displays
> 2.1-4MP Resolution Displays
> 4.1-8MP Resolution Displays
> Above 8MP Resolution Displays
BY APPLICATION
> Digital Pathology
> Multi-modality
> Surgical
> Radiology
> Mammography
> Others
BY REGION
> North America and Europe
o U.S.
o Canada
o Germany
o France
o UK
o Italy
o Spain
o Rest of Region
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
Some of the Key Questions Answered in this Report:
- What is the Market dimension at the regional and country-level?
- What are the key drivers, restraints, opportunities, and challenges of the Market, and how they are anticipated to influence the market?
- What is the international (North America, Europe, Asia-Pacific, South America, Middle East and Africa) income value, manufacturing value, consumption value, import and export of Market?
- Who are the world key producers of the Market Industry? How is their working state of affairs (capacity, production, sales, price, cost, gross, and revenue)?
- What are the Market possibilities and threats confronted via the carriers in the world Market Industry?
- Which application/end-user or product kind may also be seeking for incremental boom prospects? What is the market share of every kind and application?
- What targeted method and constraints are keeping the Market?
- What are the distinct sales, marketing, and distribution channels in the world industry?
- What are the upstream uncooked substances and manufacturing gear of Market alongside with the manufacturing technique of Market?
- What are the key market tendencies impacting the increase of the Market?
- Economic have an impact on the Market enterprise and improvement vogue of the Market industry.
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