Market Trends of Ultra High Definition (UHD) Surgical Display Industry
The Diagnostic Imaging Centers Segment is Expected to Register Significant Growth During the Forecast Period
Diagnostic imaging centers are expected to witness significant growth in the market owing to an increase in chronic diseases and the rise in diagnostics centers, especially in developed regions across the world. For instance, according to the American Cancer Society 2024 Cancer Report, around 2 million people in the United States are estimated to be diagnosed with new cancer cases in 2024, up from 1.9 million in 2023. The high burden of cancer is augmenting the demand for diagnostic imaging and thereby boosting the segment growth during the forecast period.
Furthermore, an increase in the number of diagnostic imaging centers and developments in radiology is expected to drive the demand for UHD devices across the diagnostic centers, thus propelling the segment's growth. For instance, according to the Federal Reserve Bank of St. Louis, in March 2024, there were 23,103 diagnostic imaging centers in the United States in 2022 compared to 21,611 in 2021. Thus, the high number of diagnostics imaging centers in the United States is expected to increase the demand for UHD surgical systems, hence anticipated to contribute to the segment's growth.
Several government initiatives that lead to an increase in the number of diagnostic imaging centers are anticipated to propel the segment's growth. For instance, in December 2022, the Minister of State for Road Transport and Highways and Civil Aviation, the Government of India, launched Mission Radiology India (MRI) with a customized 'My Stamp' of Mission Radiology India. MRI is a social initiative by the Sundeep Sharma Foundation. The Mission Radiology India project aimed to provide state-of-the-art diagnostic imaging services at highly subsidized prices.
Similarly, the increasing launch of UHD surgical systems has led to an increase in its adoption in diagnostics imaging centers, contributing to the segment's growth. For instance, in November 2022, Royal Philips launched its portfolio of smart diagnostic systems and transformative workflow solutions featured at the Radiological Society of North America (RSNA) annual meeting. Powered by artificial intelligence, the company showcased its latest systems and informatics solutions designed for providers to efficiently deliver patient-centric and high-quality imaging services.
Hence, due to the rise in diagnostic imaging services and the increase in chronic diseases that require surgical imaging, the segment is anticipated to register significant growth during the forecast period.
North America is Anticipated to Hold a Significant Share in the Market During the Forecast Period
North America is expected to witness significant growth in the studied market during the forecast period owing to factors such as an increase in demand for minimally invasive surgeries, a rise in chronic diseases that require surgical imaging, and a surge in product launches. For instance, as per the 2024 update from the National Brain Tumor Society, an estimated 1 million people in the United States are living with a primary brain tumor, and about 94,000 more were likely to be diagnosed in 2024.
In addition, glioblastoma is the most commonly occurring primary malignant brain tumor and accounted for 14.3% of all tumors and 49.1% of all malignant tumors in 2022. Hence, the high prevalence of neurological disease contributes to increasing the demand for neurology-related surgical imaging and is anticipated to drive the market's growth.
The launch of new UHD surgical monitors and funding initiatives were seen in various healthcare sectors to enhance diagnostic imaging capabilities, contributing to the market's growth. For instance, in April 2024, MediCapture Inc. unveiled its latest advancement, the MVR 4K, a state-of-the-art surgical recording and archiving solution capable of capturing in stunning 4Kp60 resolution. Such launches are expected to increase their adoption and boost the market in the region over the projected period.
Therefore, due to the rise in chronic diseases, increase in product launches, and government initiatives to bolster surgical imaging, North America is expected to hold a significant market share during the projected period.
