Global Medical Display Market: Brief Account
In recent years, the healthcare sector has undergone tremendous evolution owing to rising prevalence of numerous diseases all across the world. With rapid advancement in technology the healthcare sector has witness lifesaving inventions and discoveries. Introduction of new and enhanced treatment as well equipment have helped to build trust among people to go for medical treatment. Medical display is one such invention which has helped and improved diagnostic along with therapeutic procedure performance. Growing inclination towards imaging technology for treating complex as well as minor cases has boosted medical display market.
Rising awareness among people regarding the new technology and treatments in the healthcare sector have drawn more people, which has directly helped the medical display market to grow. Increase in disposable income throughout the world and government’s initiative to develop the healthcare sector have aided the market to reach new heights.
Global Medical Display Market: Trends and Opportunities
One of the major reason pushing the medical display market is the significant progress in the imaging sector. Increasing demand for the safety of patients and growing cases of surgeries has developed a trend for non-invasive procedures that reduces hospital stays and cuts the hospital bill is helping the market grow exponentially. Growing health conscious population all across the world due to rise in obesity and diabetes cases owing to intake of processed foods, ready to eat food, fast foods, and canned food have propelled them to uptake sports related activities. Rise in physical activities have resulted in sports related injuries such as bone fracture. This has increased the demand arthroscopy and endoscopy which completely depend on medical display screen for treatment purposes.
Surge in geriatric population have helped the market to flourish as old people due to their low immunity tend to fall sick more often. This has resulted in the uptake of medical display systems in most of the hospitals and diagnostics centers to identify the issue. Surge in demand for diagnostic imaging procedures such as computed tomography, x-ray, medial resonance imaging, and ultrasound owing to increase in various kind of infections have helped the market to gain significant momentum. Apart from this, noteworthy increase in the healthcare expenditure from public as well as private sectors is expected to ascend investment in the healthcare infrastructure development particularly in emerging countries, this will directly have a positive impact on the market.
However, the market witnesses several restraints such as the high cost of these displays in relation to traditional displays is prognosticated to pull down market in drastic manner. Nonetheless, the advancement in the healthcare sector is likely to catapult the market growth.
Global Medical Display Market: Regional Outlook
On the basis of geography, the market is present in North America, Europe, Middle East and Africa, Latin America, and Asia Pacific. Amongst these, North America is predicted to account for major share owing to early adoption of technology. Presence of major player in the region also favors the region to rise. Although, Asia Pacific is predicted to witness a strong demand in the medical displays due to government’s initiatives to develop healthcare sector and rise in pool of geriatric population in the region. Increase in number of public and private healthcare facilities in the reason is fueling the market demand.
Global Medical Display Market: Companies Mentioned
Some of the major players in the market are LG Display, Quest International, Siemens, Advantec, FSN, Jusha Medica, Sony, Barco, Eizo, and Novanta.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.