LG Electronics "Diving Head-First" Into Competitive Medical Imaging Market
LG Electronics signaled its entry into the medical imaging market with the announcement of three new devices: a clinical review monitor, a surgical monitor, and a digitized x-ray detector for radiography. Kimun Paik, senior VP of LG USA Business Solutions, stated that the company planns to differentiate in a competitive and conservative market by leveraging its imaging and flat-panel display expertise, as well as its brand recognition in the U.S. and Korean markets.
“LG is diving head-first into the U.S. medical imaging device market with advanced display technologies designed to improve the accuracy, quality, and efficiency of diagnostic procedures,” said Paik in the press release.
The medical display imaging field already is dominated by companies like Sony, Olympus, and Siemens, and the Korean Times noted that the healthcare industry tends to conservatively stick with what they know when making display selections.
Paik acknowledged in a press release that LG is entering a highly competitive market with established “industry titans,” but he expressed confidence in the company’s ability to build on LG’s reputation in premium display technologies. Paik noted that LG already is the U.S.’ largest provider of patient room televisions. Marketing for LG’s medical display technologies will begin in the U.S. and Korea, where the LG brand already is well-known, said Paik.
“We hold industry leading imaging technologies, which we believe will become our core marketing points differentiating ourselves from existing healthcare industry titans,” an LG spokesman told Korean Times. “We are going to differentiate our products by aggressively promoting our leading imaging technologies and hardware stability, which is another key factor determining success in the medical equipment industry.”
The LG 8MP Clinical Review monitor is designed to streamline workflows and clinician multitasking, and includes features to reduce eyestrain.. The monitor also is compliant with the Digital Imaging and Communications in Medicine (DICOM) standards regarding the calibration of greytones to ensure image color consistency across multiple devices.
The LG 8MP surgical monitor was designed to be used in bright operating rooms and is equipped with an enhanced color spectrum so that surgeons can differentiate between various types of tissue and blood vessels. The display also was designed to reduce distortion when viewed from multiple angles.
The LG Digitized X-Ray Detector for radiography possesses a 16-bit imaging processing capability that can produce images in seconds. The high-resolution images possess a pixel pitch range as small as 127 micrometers, and the system was designed to be portable and resistant to water and dust.
All three pieces of new equipment will be previewed at the annual meeting of the Radiological Society of North America (RSNA), held this week in Chicago.
A recent report by IHS Markit projects that the global market for medical-grade displays will reach $3.2 billion in 2017, an increase of 30 percent from 2012. Potential growth is attributed to “postponed demand and rising sales” in emerging markets, such as Latin America, the Middle East, and Asia, which are transitioning into digital technology.
Meanwhile, Nokia has transitioned out of mobile phones and into digital health technology with its acquisition of Withings in 2016. Conversely, Siemens Healthineers is “very strong and growing” but its parent company may be looking to spin off the $15B health business in the near future.