Global Monochrome Medical Monitor Market Analysis
Global Monochrome Medical Monitor Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026
Monochrome Medical Monitors Offer High Resolution and are More Efficient than Color Monitors
Monochrome medical monitors display image of a single color, however, in varied shades. It may include white, green or amber screens. It shows a greyscale medical display. Cathode Ray Tube (CRT) technology is the first ever technology used for monochrome displays. LCD and LED are the more preferred technologies used in most monitors available in the market. The emerging trend is to shift from CRT displays to LCD displays for medical imaging. These medical monitors provide higher resolution as compared to color monitors. They are more efficient in displaying the image in comparison to color monitors. Monochrome medical monitors are widely preferred by healthcare professionals for application in diagnostic radiology due to its higher luminance. The monitors are connected to a picture archiving and communication system (PACS) workstation for image display. Monochrome medical monitors are considered to be highly efficient in delivering imaging solutions in the field of diagnostics, radiology, and surgery, among others.
Increasing number of surgeries and diagnostic tests driving market growth
Increasing prevalence of chronic diseases such as diabetes, stroke, asthma, and obesity leads to increasing number of surgical procedures, in turn fueling growth in demand for monochrome medical monitors for application in surgical displays. According to the American Society of Plastic Surgeons, 1.7 million cosmetic surgeries were performed worldwide in 2015, which is an increase of 2% as compared to 2014. Moreover, with growing diagnostic tests and awareness among people regarding early diagnosis and treatment of diseases is also projected to fuel sales of monochrome medical monitors. However, high cost of monochrome medical monitors due to their high resolution is expected to inhibit market growth.
Monochrome Medical Monitor Market Taxonomy
Global monochrome medical monitor market is segmented on the basis of product type, application, end use, and region. On the basis of product type, monochrome medical monitor market is classified as Cathode Ray Tube (CRT) monitors, LCD monitors, and LED monitors. LCD monitors are the commonly available monochrome medical monitors, owing to high resolution image quality. On the basis of application, the market is segmented into diagnostic display, surgical display, radiology display, clinical review displays, and others. On the basis of end use, monochrome medical monitor market is segmented into hospitals, clinics, diagnostic centers, pathology labs, and others. Geographically, the monochrome medical monitor market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa.
North America is the Largest Market for Monochrome Medical Monitors
North America is the largest market for monochrome medical monitors. This is due to high adoption of advanced technology in the region. Countries such as the U.S. are increasing their healthcare expenditure, which is expected to further improve the infrastructure in hospitals and other medical facilities. Moreover, favorable reimbursement policies such as Medicare and Medicaid Services has led to greater penetration of monochrome medical monitors in North American region. Asia Pacific region is expected to gain lucrative growth over the forecasted period, due to rising awareness among the populace and increasing healthcare spending. Various healthcare initiatives by governments, especially in emerging economies, to educate and train the healthcare professionals to provide improved healthcare services is in turn fueling adoption of these monitors. Hence, immense opportunity lies in this region for the key players to cater to unmet needs of the target population. Europe is also witnessing major development activities related to medical monitors in order to cater to vast target population demanding for such devices.
Barco and Eizo Corporation are some of the Key Players in the Monochrome Medical Monitor Market
Some of the key players are Ampronix Inc., Barco N.V., Eizo Corporation, KOSTEC CO., LTD., JVCKENWOOD Corporation, Richardson Electronics, Ltd., and NEC Display Solutions among others. Development of innovative products is fueling monochrome medical monitor market growth. For instance, in September 2010, Eizo Corporation launched 29.8-inch RadiForce RX430 at RSNA 2010, which is capable of displaying monochrome as well as color images simultaneously.
Product developments by market players and approvals by regulatory authorities is expected to facilitate growth of the monochrome medical monitor market. For instance, in September 2018, EIZO Corporation’s RadiForce GX560 5 Megapixel Monochrome Medical Monitor received the 510(k) Clearance from the U.S. Food and Drug Administration for Breast Tomosynthesis and Digital Mammography.
Moreover, key players are focused on continuous innovations in order to expand their product portfolio and position in the market. For instance, in September 2018, Ampronix Inc. announced the extension of its Medical Grade Printer portfolio with the Sony UP-X898MD and Sony UP-DR80MD/WU printing technology.
In March 2019, EIZO Corporation announced the release of 2 megapixel color medical monitor, RadiForce MX216, which will have application in viewing medical charts, and monochrome and color medical images.