The Patient Monitoring and Ultrasound Devices Display Market Size is valued at USD 5.53 billion in 2023 and is predicted to reach USD 8.12 billion by the year 2031 at a 5.1% CAGR during the forecast period for 2024-2031.
The integration of patient monitoring and ultrasound device displays into healthcare practices enhances the ability of medical professionals to provide timely as well as accurate care. Advanced features and technologies continue to evolve, improving patient outcomes and efficiency in medical settings. Patient monitoring and ultrasound displays in ultrasound equipment show inside body structures, facilitating diagnosis and medical treatments. Factors such as the increasing number of long-term illnesses, technological advancements, and the need for less invasive diagnostic methods are propelling patient monitoring and ultrasound devices to display market growth in the coming years.
The increasing prevalence of long-term health problems, such as diabetes, cancer, and heart disease, has created a strong need for cutting-edge imaging technologies and systems that can continuously monitor patients. In addition, a number of factors are creating opportunities in the patient monitoring and ultrasound device display market. These include developments in telehealth solutions, improvements in the integration of AI and the Internet of Things, the expansion of healthcare infrastructure in developing nations, and a greater emphasis on home-based care. Rising healthcare technology investments and supportive government policies also bode well for future market expansion.
However, the market growth is hampered by the accessibility and affordability of ultrasound devices, which can be hindered by a lack of knowledge, manufacturing technical hurdles, and high costs. Furthermore, patient monitoring and ultrasound technologies saw a surge in demand during the COVID-19 pandemic, mainly due to the greater need for critical care and diagnostics. However, it wreaked disaster on production timelines and supply chains, which in turn slowed market growth. In addition, the demand for patient monitoring and ultrasound device displays is being propelled by the expanding pharmaceutical sectors, increased healthcare expenditure, and an ever-increasing emphasis on health promotion and disease prevention.
Competitive Landscape
Some Major Key Players In The Patient Monitoring and Ultrasound Devices Display Market:
- Fujifilm Holdings Corporation
- GE Healthcare
- Siemens Healthineers
- Philips Healthcare
- Shimadzu Corporation
- Toshiba Medical Systems Corporation
- Hitachi Medical Corporation
- Hologic, Inc.
- Cook Medical
- Medtronic, Inc.
- Zynex Medical
- Other Market Players
Market Segmentation:
The overall patient monitoring and ultrasound devices display market is segmented as the device type, display type, size, display technology, and end-user. According to the device type, the market is segmented into Patient Monitoring Devices (Hemodynamic Monitoring Devices, Fetal Monitoring Devices, Cardiac Monitoring Devices, Respiratory Monitoring Devices, Remote Patient Monitoring Devices, and Others) and Ultrasound Devices (2D Ultrasound, 3D Ultrasound, 4D Ultrasound, Doppler Ultrasound). By display type, the market is segmented into interactive and non-interactive. By size, the market is segmented into <10”, 11”-20”, and 20” and above. By display technology, the market is segmented into LCD, LED, and OLED. By end-user, the market segmentation comprises hospitals, ambulatory surgical centres, diagnostic centres, and others.
Based On The Device Type, The Patient Monitoring Devices Market Segment Accounts For A Major Contributor To The Patient Monitoring And Ultrasound Devices Display Market.
The patient monitoring and ultrasound device display market is expected to lead with a large global market share. This is due to the surge in the number of people living with chronic diseases, the ageing population, and the need for constant monitoring of health status. Market expansion is being propelled by technological developments, particularly the incorporation of AI and IoT into patient monitoring systems. These devices are becoming more popular as telehealth services and home-based care solutions continue to grow.
Diagnostic Centres Segment To Witness Growth At A Rapid Rate.
The diagnostic centres segment in the patient monitoring and ultrasound devices display market is growing because of the rising number of people suffering from lifestyle-related illnesses who need regular diagnostic checks. This increase is driven in part by the increasing need for early and accurate disease detection and technological advancements in diagnostic equipment. Diagnostic centre expansion and advanced practice nurse acceptance are bolstered by better healthcare infrastructure, more public realisation of the importance of preventative care, and more healthcare spending.
In The Region, The North American Patient Monitoring And Ultrasound Device Display Market Holds A Significant Revenue Share.
The North American global patient monitoring and ultrasound device display market is anticipated to register the largest market revenue share in the near future. This is because of the swift uptake of cutting-edge healthcare technology and government measures that encourage healthcare innovation and provide strong support to the region. Moreover, patient monitoring and ultrasound device displays are in high need due to the ageing population and the rising incidence of long-term illnesses. In addition, the Asia Pacific is anticipated to grow rapidly in the global patient monitoring and ultrasound devices display market because this is because of developments in healthcare technology, more people living with chronic conditions, rising healthcare expenditure, more healthcare funding, and government policies that encourage research and development throughout the Asia-Pacific region.
Recent Developments:
- In Jan 2024, Cook Medical divested a collection of medical devices used for ear, nose, and throat operations to C2Dx, the financial details of which have not been published. The firms revealed on Wednesday that the acquisition marks the final step in Cook's divestment of its otolaryngology, head, neck surgery (OHNS) product lines. The agreement specifically excludes Cook workers, facilities, and manufacturing equipment. Canola.
Patient Monitoring and Ultrasound Devices Display Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 5.53 Bn |
|
Revenue Forecast In 2031 |
USD 8.12 Bn |
|
Growth Rate CAGR |
CAGR of 5.1% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Device Type, Display Type, Size, Display Technology, And End-User |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
|
Competitive Landscape |
Fujifilm Holdings Corporation, GE Healthcare, Siemens Healthineers, Philips Healthcare, Shimadzu Corporation, Toshiba Medical Systems Corporation, Hitachi Medical Corporation, Hologic, Inc., Cook Medical, Medtronic, Inc., and Zynex Medical. |
|
Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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