Due to its large population base in the Asia-Pacific region, in particular, India, China and Japan, the large healthcare sector is a major accelerator for the growth of the medical display market in the region
The global medical display market size was valued at $1,961.0 Million in 2018. It, as per a report by Valuates Reports, is expected to reach $2,853.4 Million by 2026 with a CAGR of 4.8 per cent during the forecast period.
“Due to its large population base in the Asia-Pacific region, in particular, India, China and Japan, the large healthcare sector is a major accelerator for the growth of the medical display market in the region,” read the report.
It continued, “Asia Pacific is expected to show the fastest CAGR growth during the forecast period, while Latin America’s demand is projected to expand at a slow to the moderate rate during the forecast period. The Middle East and Africa are also expected to have a moderate market share in the medical display market.”
Rise in healthcare expenditure
Major factors driving the growth of medical display market size are a rise in healthcare expenditure and an increased geriatric population. Furthermore, the increase in demand for multimodality displays for radiology and various medical applications in order to gain a clear view of ultrasound outputs and PET boosts the growth of the global medical display market size.
Based on type, the desktop segment is expected to hold the largest medical display market share with its wide usage in major applications due to high image quality, ease of image analysis, and others.
Based on application, the surgical segment is expected to hold the largest medical display market share due to the wide usage of medical displays for surgeries with its critical impact on the quality of procedures.
Based on the resolution, the 2.1–4MP segment is expected to hold the largest medical display market share due to its decent configuration that is suitable for multiple applications.
Based on panel size, the 27.0–41.9-inch panel segment is expected to hold the largest medical display market share due to its suitability for a wide range of applications, including surgical as well as diagnostics.
