Middle East and Europe picked out as growth areas for medical displays
Sales of medical-grade displays are enjoying healthy growth in Europe and the Middle East as research body IHS Inc predicts a global rise of nearly 30% from 2012 to 2017.
Medical-grade display revenue is forecast to rise to $3.2 billion (€2.4 billion) in 2017, up 29 percent from $2.5 billion in 2012, according IHS’s to the “Medical Displays - World – 2013” report.
The forecast encompasses monitors used for radiology, surgical and patient monitoring purposes. Within the patient monitoring category, the revenue figures exclusively cover monitors employed in central stations, magnetic resonance imaging (MRI)-compatible equipment and midrange to high-end multi-parameter displays.
“The medical-grade display market is reaping the benefits of multiple sources of demand,” said Shane Walker, senior manager for consumer & digital health research at IHS.
“After years of postponing purchases, U.S. hospitals are seeing their budget constraints loosen up, resulting in rising purchases of equipment, including displays. However, the rise in demand is actually very broad-based, with multiple developed and emerging regions around the world driving expansion of the market.”
IHS believes that in the run up to the year 2017, the recovery in Eurozone economies will start to drive demand for medical-grade displays. The recovery is likely to be staggered, with some of the member countries remaining in a state of recession for the next few years.
The southern Eurozone countries, which have been the most affected by the monetary crisis, eventually will emerge as a growth opportunity. This is because they will increase their adoption of picture archiving and communication systems (PACS) up from currently low levels, a phenomenon that will require the purchase of displays.
The Middle East is also expected to emerge as a major market growth driver in the coming years, with Saudi Arabia and neighbouring countries investing in multibillion-dollar research facilities and hospital building projects.