The refinement of liquid crystal display (LCD) technology and ongoing installations of picture archiving and communications systems (PACS) are having a profound impact on the North American medical display monitors markets. While LCD refinement has resulted in the current state of price declines, PACS implementations continue to fuel strong unit growth in the market.
Frost & Sullivan (medicalimaging.frost.com) finds that the North American Medical Display Monitors Markets earned revenues of $329.9 million in 2006 and estimates this to reach $573.6 million in 2013.
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"The medical displays market consists of three distinct segments: imaging, surgical, and patient monitoring," notes Frost & Sullivan Research Analyst Zachary Bujnoch. "Long standing growth factors such as new PACS installations are spurring growth in the imaging segment even as more current developments such as the introduction of high definition (HD) technology are compounding already substantial growth in the surgical space."
While the established patient monitoring segments are mature and set to experience only limited growth, the expansion of PACS installations into smaller healthcare practices is promoting unit growth in the imaging displays market. At the same time, the introduction of HD technology in the surgical arena is not only supporting unit growth, but is also arresting price declines.
However, the entry into smaller healthcare practices is resulting in fewer monitors needed per installation. This is having a dampening effect on the imaging space; as demand decreases, unit shipments are growing at a slower rate.
"As more second tier providers install new PACS systems, fewer displays will be needed per installation and consumer comparisons will be high," says Bujnoch. "While unit growth will continue to be strong due to these installations, it will not be as high as earlier."
As healthcare providers attempt to accommodate growing price concerns, commercial equivalents will offer an attractive alternative to more expensive medical displays. In response, display companies will need to provide adequate education about their products and the advantages that medical displays can offer.
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