The global 4K medical imaging market was valued at USD 3.91 billion in 2021. It is projected to reach USD 2.92 billion by 2030, growing at a CAGR of 12.28% during the forecast period (2022–2030). 4K resolution directs to a horizontal display resolution of around 4,000 pixels. Numerous 4K resolutions are commonly utilized in digital broadcasting and digital cinematography. There is a growing investment in creating healthcare infrastructure, increasing evidence of successful and promising diagnosis and treatment outcomes.
In addition, there is a notable boost in the number of new companies entering the healthcare market that produce advanced imaging and visualization equipment. As a result, the global market for 4K medical imaging devices has exploded. The reluctance of physicians to adopt modern technologies, such as 4K imaging, is one of these concerns. These innovations are anticipated to considerably impact the 4K medical imaging industry during the forecast period, causing the market to expand exponentially.
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High Demand for 4K Medical Imaging
The global market for 4K medical imaging may be broken down into hospitals, diagnostic centers, and other categories. According to the study's results, hospital end-users strongly demand accurate diagnoses. The facilities are well-equipped with medical imaging technology and staffed by highly experienced medical specialists, enabling precise diagnosis and treatment of the various body sections of patients. Incorporating 4K medical imaging technologies in hospital settings, such as MRI and CT scanners, contributes further to the sector's expansion.
Increasing Elderly Population
Various market participants in North America are concentrating on producing novel 4K medical imaging systems or solutions for improved patient management beneficial to the industry demand. The astounding increase in the elderly population necessitates the development of new medical imaging techniques, and the government's supportive policies have established themselves as additional drivers of industry expansion. Additionally, as chronic diseases such as cancer and others continue to rise in the region, there is likely to be an increase in the need for cutting-edge 4K medical imaging technology in the region's hospitals and diagnostic centers.
High Capital Cost
The need for high-speed connectivity, significant capital investments, the availability of cheaply priced refurbished medical equipment, and the reluctance of doctors and surgeons to adopt cutting-edge technologies are just a few of the challenges the market faces.
The global 4K medical imaging market is segmented by product type, panel size, and resolution type.
Based on product type, the global 4K medical imaging market is subdivided into 4K camera systems, 4K medical displays, and 4K Advanced Visualization Systems (Microscopic Systems).
The most significant portion of the 4K medical imaging market comprises 4K medical displays due to the adoption of hybrid operating rooms, which have many benefits, including the integration of multiple pieces of equipment, and cost- and time efficiency. In addition, the fact that patient data from many devices are displayed on the selected display and give improved visualization quality will propel the growth of the 4K medical imaging market.
Based on resolution type, the 4K medical display market is categorized into 4K UHD (3840*2160) medical displays and 4K DCI (4096*2160).
Ultra HD or 4K resolution is 3840 X 2160 pixels, implying that a 4K image is created by combining four HD photos. The term "4K" describes the number of vertical lines in an image. The term is derived from a 35mm photograph with about 4000 vertical lines. 4K IP camera systems for residential, commercial, and government applications. These network video surveillance systems are simple enough for do-it-yourself installation, yet their construction is of the caliber expected by experienced installers and electricians. Each system consists of 4K IP cameras and a 4K NVR with PoE.
Based on panel size, the market for 4K medical displays is classified into 28" and smaller display panels, 28"-54" display panels, and 55" and larger display panels.
The global 4K medical imaging market is segmented into four regions, namely North America, Europe, Asia-Pacific, and LAMEA.
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North America is dominant in the global 4K medical imaging market due to patients' increasing acceptance of advanced technology and the region's well-established healthcare industry. Increasing knowledge of the benefits of 4K medical imaging equipment, such as better display clarity, a camera that captures finer details, and an advanced visualization system, drives regional expansion. Remarkably, the increasing older population that requires medical imaging modalities and favorable government measures prove to be further catalysts for economic expansion. In addition, the region's hospitals and diagnostic facilities would undoubtedly require more modern 4K medical imaging systems due to the rising prevalence of chronic diseases like cancer and others.
The global 4K medical imaging market’s major key players are