Medical Display Market Assessment, By Display Type [Wall Mounted, Portable, Modular], By Panel Size [Up to 22.9-inch Panels, 23.0-26.9-inch Panels, 27.0-41.9-inch Panels, Above-42-inch Panels], By Resolution [Up to 2MP, 2.1 to 4MP, 4.1 to 8MP, Above 8MP],

Global medical display market is projected to witness a CAGR of 5.67% during the forecast period 2025-2032, growing from USD 2.51 billion in 2024 to USD 3.90 billion in 2032. The market is expected to grow significantly due to rising requirements for advanced medical imaging technologies, growing threat of chronic diseases, increasing popularity of telemedicine, and technological advancements. Medical displays play a crucial role in effectively diagnosing and treating patients by ensuring accurate production of images that have applications during surgical procedures, radiology, and mammography, among others.

Additionally, the growing efforts of the leading medical device and healthcare companies to bolster novel device availability are also supporting the growth of the global medical display market. For instance, in November 2024, Edan Instruments Inc., one of the leading healthcare and medical solutions providers, showcased its novel product launches in Germany at MEDICA 2024. The event highlighted the advancements in healthcare technology and showcased the different healthcare technologies that offer possible solutions for various challenges physicians and patients face. The growing popularity of the telehealth sector is rapidly increasing the requirement for medical displays as they are essential for facilitating remote consultation by ensuring accurate real-time image transmission. The growing popularity of the telehealth sector can also be attributed to a wide range of benefits, including cost and time efficiency for patients and caregivers. According to a study published in JAMA Network Open in January 2023, telehealth has been associated with reducing the economic burden on patients. The study included 25,496 telehealth visits for 11,688 patients. It showed that telehealth accounted for savings of approximately USD 11,70,160 in income that would have been lost due to driving and savings of USD 467,247 in income lost due to visiting time.

Furthermore, the rising investments and focus on improving mammography procedures and making the patient experience more comfortable positively influences the market’s expansion. Such efforts are expected to improve both patient and physician experience and allow the availability of images with high quality and resolution, enhancing diagnostic efficiency.

Rising Prevalence of Chronic Diseases Boosts Market Demand

The rising prevalence of various chronic diseases across the globe is boosting the growth of the global medical display market. Chronic health conditions often require accurate diagnostic tools to ensure early detection and effective treatment, thus increasing the need for high-resolution medical displays to aid healthcare providers in identifying the disease with ease and improving the accuracy of the diagnostic procedure. As per the estimates of the World Health Organization (WHO), cardiovascular diseases are one of the leading causes of death across the globe and take approximately 17.9 million lives every year. To combat the growing threat of such diseases, the requirement for advanced medical solutions, including high-resolution medical displays, is rapidly increasing. Chronic health conditions such as respiratory disorders, cancer, and cardiovascular diseases require continuous monitoring and precise diagnostics, with medical displays playing a crucial role in aiding healthcare professionals in effectively diagnosing patients.

Increasing Investments Towards Healthcare Sector Supports Market Expansion

The growing efforts of various governments to support the enhancement of the healthcare sector in their countries are one of the major factors supporting the growth of the medical display market. For instance, under their initiative, Vision 2030, the government of Saudi Arabia launched the Health Sector Transformation Program to restructure their healthcare sector into an integrated, effective, and comprehensive system that focuses on the health and well-being of the patient population. The government plans to invest USD 65 billion in healthcare infrastructure and aims to increase the private sector's contribution. Thus, propelling the requirement for various diagnostic equipment, including medical devices, and providing lucrative growth opportunities for the market.

Various governments, including the Government of India, have undertaken sustained and structural reforms to strengthen their healthcare sector and launch conducive policies for boosting Foreign Direct Investments (FDIs) in the country. Governments are also increasingly investing in the upgradation of the healthcare infrastructure and ensuring the availability of advanced equipment and technologies for the patient population.

Hospitals Account for Significant Share of the Market

The rising requirement for medical displays from hospitals can be attributed to the increasing number of hospitalizations due to the growing burden of various diseases and disorders and rising incidences of accidents. Increasing the availability of funding and grants to various hospitals also allows them to procure advanced equipment, including medical displays. In June 2023, the Ajax Partnership Fund (APF) provided a grant of USD 25,000 to the Ajax Pickering Hospital Foundation, allowing them to purchase new equipment to serve the healthcare requirements of the community better.

Other factors supporting the segment's dominance include the availability of a wide range of expert solutions and professionals to meet the complex healthcare requirements of the patient population. Medical displays are crucial for quickly interpreting various images, monitoring patient vitals, and effectively guiding surgeons during surgical procedures.

North America Holds Major Market Share

The growth of the North America medical display market can be attributed to the rising prevalence of chronic and infectious diseases, increasing investments in the healthcare sector, and the strong presence of key market players, among others. Furthermore, the growing burden of various chronic and infectious diseases in the region also bolstered the requirement for medical displays. As per the estimates of the National Cancer Institute, approximately 2,001,140 new cases of cancer are expected to be diagnosed in the United States in 2024. Such an increase propels the requirement for various medical devices, including medical displays, to effectively diagnose patients.

Additionally, the market’s growth is also bolstered by the high adoption rate of advanced medical and imaging technologies in countries such as the United States. The easy availability of 8K and 4K displays, AI-integrated systems, and multimodality imaging solutions allow healthcare providers to improve treatment outcomes by enhancing diagnostic accuracy. Furthermore, various government initiatives and programs are providing hospitals and clinics with significant funds to upgrade their medical devices to ensure that the patient population is provided with optimal care.

Future Market Scenario (2025-2032F)

As per the global medical display market analysis, the market is expected to witness significant growth in the coming years due to the rapid expansion of the healthcare sector in various countries across the globe, increasing investments towards the upgradation of healthcare infrastructure, growing adoption of remote patient monitoring and telemedicine, and rising utilization of advanced imaging solutions. The rapid growth of the population is one of the major factors propelling the requirement for various diagnostic equipment, including medical displays. According to estimates from the United Nations, the global population is expected to increase by approximately 2 billion over the next 30 years.

Additionally, various medical device manufacturing companies are increasingly focusing on developing energy and cost-efficient medical devices, including medical displays, to cater to the requirements of the emerging economies. Increasing initiatives of different governments to combat the threat of various chronic diseases and boost access to healthcare facilities are also expected to influence the market’s expansion positively. Furthermore, the growing shift towards minimally invasive procedures is also expected to drive the global medical display market demand as these procedures often require advanced imaging equipment for successful completion of procedures.

Key Players Landscape and Outlook

The key players in the market are significantly investing in introducing advanced medical displays to enhance diagnostic efficiency and user convenience. In May 2023, LG Electronics Inc. launched 32HQ713D, its 31.5-inch IPS Black diagnostic monitor. The device employs IPS Black technology, providing clear and sharp images with a 2,000:1 contrast ratio and vibrant colors. The diagnostic equipment provides consistent image quality and is easy to use. The device also features a built-in front calibration sensor that provides automatic self-calibration to ensure that the image quality remains stable. The equipment also offers ergonomic comfort and has a simplified installation process, further enhancing user convenience.

Similarly, in September 2024, EIZO Corporation, one of the leading medical technology companies, announced the release of a 21.3-inch 2-megapixel (1200 x 1600 pixels) color monitor, RadiForce MX217, for reviewing diagnostic imaging in clinical environments and hospitals and displaying patient charts. The model retains rich features and the high performance of its predecessor so that in monochrome medical images, including MRI, CT, and X-ray, the gradations remain consistent. The monitor is also capable of supporting color display and allows the review of images that are used in ultrasound, nuclear medicine, and endoscopy.