Press Release

The Global Medical Display Market is projected to grow from USD 2.2 billion in 2021 to USD 3.2 billion by 2030 at a CAGR of 4.90% during the forecast period. 

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Rising healthcare spending across the globe is driving demand for medical display devices. Furthermore, as the world's senior population expands, so does the demand for medical-aid and medical-display equipment in North America and Europe. The demand for multi-modality displays in radiology and other medical applications to fully comprehend ultrasound and positron emission tomography is propelling the worldwide medical display market forward. However, the market's growth is limited by the higher pricing of the products. The rising demand for diagnostic methods including ultrasound, magnetic resonance imaging, and X-ray is likely to open up new market prospects. 

COVID-19 is an infectious disease that first appeared in late December in China's Hubei province, in the city of Wuhan. The virus that causes severe acute respiratory syndrome is highly contagious and transmits from person to person. The novel coronavirus spread rapidly over the world. Although the COVID-19 pandemic is still transforming the evolution of numerous industries, the outbreak's immediate impact is diverse. The increase in the severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) generated respiratory failure leading to COVID-19 disease, for example, has increased hospitalization and thereby supported the market growth. Also, the imposition of new government laws and a global lockdown, has affected the supply chain for medical devices, particularly medical displays. As a result, medical display manufacture and operations have decreased. Furthermore, after mid-2020, a few market participants created and promoted various COVID-19 awareness activities to assist COVID-19 patients, which enhanced the usage of medical displays in hospitals.    

Hybrid operating rooms are surgical theatres with advanced medical imaging systems that allow for image-guided minimally invasive treatments. Because they are equipped with CT scanners, MRI scanners, and C-arms, these hybrid ORs are used in a variety of facilities. Spinal and neurological surgeries, orthopedic trauma procedures, cardiac surgeries, endovascular and vascular surgeries all use hybrid operating rooms. This functionality allows hospitals to perform advanced surgical operations, increasing the demand for medical displays. Increasing R&D Activity in Medical Display Boost Market Growth 

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Companies like American Portwell Technology, Inc., Barco, and others are continually producing newer products to facilitate uncomplicated operations and ensure the market's supply of genuine medical-grade monitors. Portwell created a medical-grade touch monitor that works with its all-in-one computers to provide a human-machine interface for dental x-rays, imaging controls, and ultrasound, as well as EHR and lab clinic equipment. This enhances digital interactivity, eliminates the need for a lot of storage space, and reduces the risk of patient data being mishandled. Due to the onset of the COVID-19 pandemic, Barco launched a new generation of display controllers for its diagnostic displays in response to reduced radiologist workforce and increased workflow.

Asia Pacific is expected to have the highest CAGR in the worldwide medical display market during the projected period due to an increase in the number of private and public health healthcare settings in countries like China and India. The region's rise is being driven by strong economic growth in emerging economies such as China, Indonesia, Malaysia, and India. In China, the National Medical Products Administration (NMPA) regulates medical display equipment. Furthermore, health spending as a proportion of GDP is predicted to rise to 6.5 to 7% by 2020, according to export.gov. China had roughly 32,000 hospitals as of November 2018, with 12,072 of them being public. Large public hospitals continue dominate healthcare product procurement, despite the fact that the number of private hospitals is often limited. An increase in healthcare spending and a growing senior population are predicted to drive up demand for diagnosis of various diseases and medical disorders, resulting in a higher need for medical services. 

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KEY INDUSTRY DEVELOPMENTS:   

In June 2019, The GOT810-845, a 10.4-Inch IP66/IP69K-Rated Stainless Steel Fanless Touch Panel Computer with M12-Type Connectors, was introduced by Axiomtek.

In November 2020, Barco and Delasco, a prominent manufacturer and distributor of dermatology supplies and equipment, announced a partnership to bring the award-winning dermatology technology Demetra to the United States. Delasco is the appropriate partner to bring Demetra to America and deliver best-in-class diagnostic capabilities to the dermatological community as a trusted supplier to more than 7,000 dermatology care professionals.

In June 2019, Double Black Imaging released an enlarged display line and ergonomic workstation solutions for use in clinical review rooms.

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