Market Overview
4K refers to an input source, display panel, or projector having a resolution approximately four times higher than that of a high-definition video. The 4K technology in the healthcare sector facilitates accessing the highest possible resolution imagery to make accurate decisions for better treatment.
According to the MarkNtel Advisors' research report, "Global 4K Medical Imaging Market Analysis, 2021," the market is likely to grow at a CAGR of around 12% during 2021-26 due to mounting investments in developing healthcare infrastructure, increasing demand by medical professionals for improved resolution & quality to assist patients with disease-specific treatment. Besides, the rising demand for advanced modalities from end-users is further likely to drive the market growth in the forecast period.
Impact of COVID-19
The outbreak of the COVID-19 pandemic has negatively affected the overall Global 4K Medical Imaging market. The supply of 4K medical imaging devices got disrupted along with the increasing price pressure. Also, there was a substantial decline in the number of patients visiting the hospitals. The demand for medical imaging like MRI has also gone down amidst the spread of coronavirus. Additionally, there were stringent regulations to minimize cross-sectional imaging and ultrasounds to avoid the spread of coronavirus. However, the recommencement of these services is reviving the examination procedures, thereby propelling the market growth in the future.
Market Segmentation
Medical Display Accounted for the Largest Market Share
Based on the product type, Medical Display acquired the largest share in the global 4K medical imaging market in the previous few years and is likely to maintain its leading position during the forecast period. The segment growth attributes to the development of hybrid operating rooms due to its cost-effectiveness. Moreover, using 4K Medical Imaging, patient data becomes visible on the desired display in high resolution and from different devices. Hence, these factors propel the Global 4K Medical Imaging market growth, reveals MarkNtel Advisors in their research report, "Global 4K Medical Imaging Market Analysis, 2021."
Endoscopy Cameras Grabbed the Highest Market Share
Endoscopy cameras held the largest market share in the global 4K medical imaging market in 2019. Endoscopy is the less invasive technology used for the diagnosis of variant infection and disease. Thus, the increasing demand for minimally invasive surgeries, as they reduce the burden on patients compared to open surgeries, has led to a surge in the segment growth. Visibility has been the prime challenge for such surgeries, and the 4K medical imaging system has helped to get past this challenge. Moreover, advanced technologies in the healthcare industry have further eased surgical treatments with the least-invasive procedures.
Regional Landscape
North America Grabbed the Highest Market Share
The North America region held the largest market share in the global 4k medical imaging market in the previous few years due to high patient acceptance for advanced technologies and substantial & well-established healthcare industry. Growing awareness about the benefits of 4K medical imaging systems, such as displays for better clarity, cameras for better capturing of details, and advanced visualization systems that combine the data from a different facility on to a single unit, promotes the growth of the 4K medical imaging in the region.
Market Driver
Rise in technological advancement to drive the market growth
Due to the surging technological advancements, the demand for incorporating high-end technologies in the healthcare industry has increased to provide patient-centric treatment, better diagnostics, and accurate decision making. The upgrade and development of new devices capable of offering 4K resolution have allowed medical professionals to visualize tinier details.
Competitive Landscape
According to MarkNtel Advisors, the major leading players in the global 4K Medical Imaging market are Steris plc, Barco NV, Sony Corporation, Novanta, Inc., Olympus Corporation, Leica Microsystems AG (Danaher Corporation), Conmed Corporation, Sharp NEC Display Solutions, Ltd., Stryker Corporation, EIZO Corporation, Ikegami Tsushinki Co., Ltd., Smith & Nephew plc, Zimmer Biomet Holdings, Inc., Karl Storz SE & Co. KG.
Key Questions Answered in the Market Research Report:
Market Outlook, Segmentation and Statistics
Frequently Asked Questions:
Q. What are historical, base, and forecast years considered in the research report, Global 4K Medical Imaging Market?
The historical data has been provided since 2016, while the base year is 2020, and the data forecast is up to 2026.
Q. What are the units or denomination for measuring market value in the report?
The measuring units of market size/industry size or the market value are USD Million.
Q. What would be the growth rate or CAGR of the Global 4K Medical Imaging Market during 2021-26?
The Global 4K Medical Imaging Market is forecast to grow at a CAGR of 12% during 2021-26.
Q. Who are the key competitors or players operating in the Global 4K Medical Imaging Market?
Steris plc, Barco NV, Sony Corporation, Novanta, Inc., Olympus Corporation, Leica Microsystems AG (Danaher Corporation), Conmed Corporation, Sharp NEC Display Solutions, Ltd., Stryker Corporation, EIZO Corporation, Ikegami Tsushinki Co., Ltd., Smith & Nephew plc, Zimmer Biomet Holdings, Inc., Karl Storz SE & Co. KG are a few leading players in the Global 4K Medical Imaging Market.
Q. Which 'segment type' would emerge as an opportunity area for players in the Global 4K Medical Imaging Market?
The Medical Display segment is likely to attain the highest CAGR during the forecast period and maintain its significant market share.
Q. Which region would emerge as an opportunity area for players in the Global 4K Medical Imaging Market?
North America continues to grow at the highest CAGR, thereby presenting immense opportunities to market players of the Global 4K Medical Imaging Market.
