Pune, India -- (SBWIRE) -- 11/06/2018 -- The main objective of this report is to define, describe, and forecast the global "Medical Display" market on the basis of types of applications, major sectors, deployment models, organization size, and regions. The report contains an analysis of the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). It aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and their contribution to the market. The report attempts to forecast the market size for 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It contains key vendor profiles and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments, including partnerships, collaborations, acquisitions, new product developments, and R&D activities in the market. According to the report, the global medical display market is projected to grow at a CAGR of 5% over the forecast period of 2018-2024.

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LG Electronics SA enters the medical technology industry

In Jun 2018, LG Electronics SA (LG SA) had partnered with Africa X-Ray Industrial and Medical (Axim) group in a deal that will see it enter the medical technology industry. LG SA, in its announcement on making a maiden move into the industry, stated that the company has already started producing clinical review monitors, as well as surgical monitors for the medical field.

Axim, a local supplier of medical imaging equipment, will be responsible for distribution. The Johannesburg-based group is also the authorized distributor for Carestream Health, which has an array of medical solutions, including medical digital capture solutions, computed and digital radiography laser print systems, analogue film systems as well as IT solutions.

Growing demand of diagnostic imaging procedures to promote growth of medical display market

Medical imaging experts such as medical physicists, radiologists, and information technology specialists routinely use the medical display for diagnosis of diseases and their treatment. Growing preference for minimally invasive procedures, treatment all over the globe escalates the global Medical Display Market. Moreover, increasing popularity related to benefits of large displays in an all in one computer propelling the market growth. Growing demand of diagnostic imaging procedures such as Computed tomography (CT), Magnetic resonance imaging (MRI), and magnetic resonance angiography (MRA) has a major influence on the demand of medical display devices. However, the rise in demand for refurbished medical display may hamper the growth of the global medical display market. Going further, technological advancement within the imaging area is anticipated to create growth opportunities for the medical display market. 

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The North America region to dominate the global Medical Display market

North America accounted for the largest region in the global medical display market, followed by Europe. The factors such as faster adoption rates of new technologies, growing prevalence's of diagnostic surgeries and tests and rising healthcare expenditure in private and public sectors are likely to boost the market in the North America region. Asia Pacific region is anticipated to be the fastest growing region due to heavy investments for the development of the healthcare facilities in countries such as China and India.

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