Feature: Displays
Image: Jair Lazaro for Unsplash
Diagnostics and medical displays
market continues to grow By FMI analysts
T
he global medical displays market was valued just over $670m at the end of 2021. By year 2032 it is projected to see a compound annual
growth rate (CAGR) of 2.10%, with a top valuation of $842.6m. This market will be driven by the
increasingly ageing population and a rise in chronic diseases that require surgery. Patient vital signs, surgical live and still x-ray imaging, CT and MRI scans, all require medical displays. Improved quality of surgical
procedures and reduced patient downtime help the health services provide efficient healthcare. Here, updated software, systems and diagnostics tools – including displays – help prevent delays and hospital over- stays, allowing for more efficient running of these services.
In addition to the ageing population
and the rise in chronic and degenerative diseases, the market for surgical monitors is experiencing high growth rate due to an increase in the number of short-term care facilities, ambulatory surgery centres and mobile diagnostic units. Tere are a variety of mobile surgical monitors already available, which are predominantly used in places where the infrastructure doesn’t support any fixed equipment.
The main drivers Te adoption and conversion to LCD displays in medical display monitors will continue to grow at a high rate, helped in part by the price reduction of LCD units. Te latest high-definition improvements
being made to surgical monitors give them greater advantages over older CRT equipment. Moreover, some surgical monitors are also compatible with medical workstations out of the box and do not
require additional costs to become totally operational.
Strong regional growth Te surgical monitors market is broadly divided into seven major regions: North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East and Africa. North America dominates the market
for medical displays mostly because of the high number of hospitals and clinics there. Furthermore, the region has a large elderly population, which is one of the key drivers fuelling North America’s demand for these monitors. Te Asia-Pacific area is expected to
grow the fastest for medical monitors. A significant portion is attributable to the region’s fast-evolving healthcare infrastructure, the widespread use of digital technology and a sizeable patient base.
www.electronicsworld.co.uk February 2024 33
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