Market Size of Ultra High Definition (UHD) Surgical Display Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
CAGR | 5.80 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Ultra High Definition (UHD) Surgical Display Market Analysis
Ultra-high definition surgical/medical displays market is expected to witness a CAGR of 5.8% over the forecast period.
The COVID-19 pandemic significantly impacted the ultra-high definition surgical/medical displays market due to the global lockdown and travel restrictions imposed by different countries and partial or full closure of surgical procedures due to the high influx of COVID-19 patients. For instance, as per the article published in June 2022 in PubMed, compared to the previous year period, the number of patients in general and visceral surgery decreased by 22.7% in the first pandemic year in Germany. At the procedure level, a decrease of 14.8% was observed for elective procedures and 6.0% for emergency procedures. Hence, COVID-19 had significantly impacted the surgical/medical displays due to delayed or canceled surgery cases. However, with the resumption of surgery cases and decreasing cases of COVID-19, the studied market is expected to recover from the decline of COVID-19 over the forecast period.
Factors such as a rise in demand for minimally invasive procedures and an increase in diagnostics imaging centers are expected to drive market growth. As a result of their increasing usage, these technologies have become common in hybrid operating rooms and diagnostic centers. For instance, according to the research study published in August 2022 in PubMed, 329 isolated heart transplantations, 254 isolated lung transplantations, and one combined heart-lung transplantation were performed in 2021 in Germany. Hence, the high number of heart procedures and surgeries being performed yearly is anticipated to boost the growth of the market studied.
Furthermore, rapidly advanced technologies and an increase in product launches are expected to drive market growth. For instance, in September 2022, Olympus Corporation launched VISERA ELITE III, its newest surgical visualization platform that addresses the needs of healthcare professionals (HCPs) for endoscopic procedures across multiple medical disciplines. VISERA ELITE III offers various imaging functions, all supported in one system enabling minimally invasive therapies such as Laparoscopic Colectomy and Laparoscopic Cholecystectomy.
Hence, due to the rise in minimally invasive procedures and product launches, the studied market is expected to witness significant growth. However, the increasing adoption of refurbished medical displays is expected to restrain market growth.