Your iPad has a screen or display hardware fault that can only be resolved by repair.
For practical purposes, in lieu of repairing and returning your own iPad, Apple usually exchange the iPad for a renewed/refurbished iPad of the same model and specification. The cost of the exchange is the same as would otherwise be charged for repair. Unless you have benefit of an active AppleCare plan, an out-of-warranty repair while expensive will be somewhat less than the cost of a replacement iPad.
Apple offers a fixed-price price repair for qualifying devices. You can verify eligibility and cost for your region/country here:
iPad Repair & Service - Apple Support
If you have an active AppleCare+ plan, the cost of repair is reduced to a small excess/deductible fee.
Your iPad can also be tested and assessed - and if required repair/exchange arranged - at the Genius Bar of your local Apple Store or Apple Authorised Service Provider (AASP):
Genius Bar Reservation and Apple Support Options - Apple