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Surgical Display Market: By Type (Low-End, Mid-End, High-End), By Application (Hospitals, Clinics), And Region - Global Analysis of Market Size, Share & Trends For 2021-2022 And Forecasts To 2032
Surgical displays are used to show a clear image of the surgical field while instantly visualizing the complex human anatomy. During a procedure, a surgical display gives the surgical team important patient data, such as X-rays and vital signs. Doctors and surgeons can diagnose patients and choose the most effective course of treatment with the help of this information. Surgical monitors are frequently used by doctors during endoscope-guided surgeries. Surgical displays allow the doctor to see the patient's anatomy while doing gastrointestinal (GI), arthroscopic, laparoscopic, or robotic-guided surgery. For surgical displays to be recognized as medical displays, the necessary certificates are much essential.
Surgical Display Market to surpass USD 735.0 million by 2032 from USD 662.62 million in 2021 at a CAGR of 0.9% in the coming years, i.e., 2022-32. The market is primarily being driven by the growth in surgical operations and the level of digitization in the healthcare industry. Moreover, industry participants' technical improvements are also projected to favorably impact the development of the Surgical Display Market.
Surgical Display Market is categorized on the basis of Type into Low-End, Mid-End, and High-End. In 2020, the Surgical Display Market was dominated by the mid-range segment, which also held a larger revenue share. The market's growth is attributed to the rising operational and clinical efficiency demands in hospital settings, as well as an increase in the adoption of integrated solutions.
Over the projected period, the high-end sector in the surgical display market is anticipated to expand more quickly. For higher effectiveness, clinical safety, and better patient outcomes, high-end surgical displays provide best-in-class features and quality.
Surgical Display Market is categorized on the basis of application into Hospitals, Clinics, and Others. The Hospitals segment is projected to lead the Surgical Display Market over the forecast period. The surgical displays are used in the operating rooms in hospitals, medical offices, and emergency rooms. They are more prominently used in image-guided surgeries like endoscopy (arthroscopic, gastrointestinal, robotic-guided surgery, or laparoscopic) and interventional radiology which are widely performed in hospitals.
The rising digitalization in the healthcare sector combined with technological improvements, is expected to accelerate market growth. Also, it is estimated that an increase in surgeries will spur market growth during the forecast period. HD resolution, a wide range of color technology, and a high-brightness backlight are all features of the surgical displays. With the use of these qualities, surgeons, doctors, and researchers can do less invasive treatments while getting a better glimpse of the body’s anatomy.
People all over the world are preferring less intrusive procedures that are also affordable. Consequently, the Surgical Display Market, particularly the UHD Displays, is also anticipated to grow along with the rising demand for minimally invasive treatments. These technologies are now widespread in hybrid operating rooms and diagnostic facilities as a result of their rising use. The market growth is anticipated to be supported by these display monitors' expanding usage and applications.
The main problem limiting market growth, particularly in nations where the reimbursement environment is unfavorable, is the high cost of surgical displays and the costly installation. Due to the high installation and maintenance costs of modern medical equipment and the limited financial resources available, the majority of healthcare facilities in poor nations, including hospitals and diagnostic centers, are unable to invest in new technologically advanced systems. These elements may limit the growth of the Surgical Display Market in the near future.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Surgical Display Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. In terms of revenue share, Asia Pacific dominated the Surgical Displays Market in 2020. A significant portion is attributable to the fast-evolving healthcare infrastructure, the widespread use of digital technology, and a sizable patient base.
Over the forecast period, the Surgical Display Market is anticipated to grow at the fastest rate in the Middle East and Africa. The increase in healthcare facilities, the requirement for ongoing training for medical students and new doctors, the proliferation of medical devices with networking capabilities, and advances in administrative effectiveness through image management are all contributing factors to this growth.
Market participants witnessed a decline in their revenue growth during the COVID-19 epidemic. For instance, Barco reported that its healthcare revenue fell by 1.9%. Majority of this occurred in the second half of 2020. Throughout the epidemic, Eizo Global reported a consistent supply of its goods and services. As of July 2020, it continued to run its activities at all seven of its production facilities worldwide. Regardless of the delays in the supply chain delays, the company well-maintained strong procurement of material. All of this had no impact on the market size in 2020.
REPORT ATTRIBUTE |
DETAILS |
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Market Size Value in 2021 |
USD 662.62 million |
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Revenue Forecast in 2032 |
USD 735.0 million |
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Growth Rate |
CAGR of 0.9% from 2022 to 2032 |
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Base Year for Estimation |
2021 |
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Quantitative Units |
Revenue in USD million and CAGR from 2022 to 2032 |
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Report Coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Segments Covered |
Type, Application, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
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Key Companies Profiled |
Siemens, Sony, LG, Stryker, Alcon, Steris, Barco, Advantech, Eizo Inc., Jusha, NDS Surgical Imaging, Akino Medical, AKX, Hiliex, Shenzhen Beacon, Hikimaging, and Other Prominent Players. |
The Surgical Display Market size was estimated at USD 662.62 million in 2021 and is expected to reach USD 735.0 million in 2032.
Surgical displays are used to show a clear image of the surgical field while instantly visualizing the complex human anatomy. During a procedure, a surgical display gives the surgical team important patient data, such as X-rays and vital signs.
The High-End and Hospitals segments accounted for the larger share of the Surgical Display Market.
Key players in the Surgical Display Market are Siemens, Sony, LG, Stryker, Alcon, Steris, Barco, Advantech, Eizo Inc., Jusha, NDS Surgical Imaging, Akino Medical, AKX, Hiliex, Shenzhen Beacon, Hikimaging, and Other Prominent Players.
The market is primarily being driven by the growth in surgical operations and the level of digitization in the healthcare industry.
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