Medical Electronics Market Research Report Size, Share, Growth & Industry Forecast, 2021-2028
Medical Electronics Market
The
factors driving the growth of Medical Electronics Market includes increasing
geriatric population, growing demand for portable medical devices and rising
use of radiation therapy to treat diseases and financial assistance to senior
citizens by Government across the globe. As per
the report published by World Health Organization (WHO), the population aged 60
years and above is expected to rise from 1 billion in 2020 to reach 2.1 billion
by the end of 2050 and population aged 80 and above are anticipated to triple
during 2020 to 2050 to reach 426 million. Moreover, the growing application of small
sized medical devices to monitor blood sugar levels and blood coagulation along
with integration of advanced technologies such as Internet of Things (IoT) and
Artificial Intelligence (AI) in medical electronic devices, are expected to
boost the Medical Electronics Market size
in the approaching years. In addition, increasing disposable income,
improving living standards and development in the healthcare facilities, are
some of the additional factors propelling the market growth.
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Market
The growth of Medical Electronic Market is
hindered due to strict Government regulations on standard quality of medical
electronic devices and high capital cost.
The prominent players operating in the
market are NXP Semiconductors., Cypress Semiconductor Corporation., Renesas
Electronics Corporation., Analog Devices, Inc., Texas Instruments
Incorporated., Maxim Integrated, Semiconductor Components Industries, LLC, TE
Connectivity., Medtronic and STMicroelectronics among others.
Application – Segment Analysis
Based on Application, the medical imaging
segment is projected to expand at healthy CAGR over the forecast period. The
increasing number of chronic diseases such as cancer and diabetes and rising
Government expenditure on improving the healthcare facilities in the developing
Countries, are some of the factors responsible for the growth of the segment.
End-User Products – Segment Analysis
Based on End-User Products, the Ventilators
and RGM equipment segment is predicted to capture a sizeable market share
during the forecast period increasing number of respiratory diseases around the
world.
Application – Segment Analysis
Based on region, the North America region
is anticipated to capture the largest market share over the forecast period. High
life expectancy, availability of developed healthcare infrastructure, high
per-capita income and increasing demand for advanced medical devices, are some
of the important factors accelerating the market growth in North American
region.
Market Segmentation
Global Medical Electronics Market by Component
·
Sensors
·
Batteries
·
Displays
·
MPUs/MCUs
·
Memory Chips
Global Medical Electronics Market by End-User Products
·
Diagnostic and imaging devices
·
Patient monitoring devices
·
Medical implantable devices
·
Ventilators and RGM equipment
Global Medical Electronics Market by Application
·
Medical imaging
·
Clinical, diagnostic, and therapeutics
·
Patient monitoring
·
Flow measurement
·
Cardiology
·
Other
Global Medical Electronics Market by Medical Procedure
·
Non-invasive
·
Minimally invasive
·
Invasive
Global Medical Electronics Market by Medical Device Classification
·
Class I
·
Class II
·
Class III
Global Medical
Electronics Market by Region
·
Asia Pacific
o
China
o
Japan
o
India
o
Rest of APAC
·
North America
o
United States of
America
o
Canada
·
Europe
o
United Kingdom
o
Germany
o
France
o
Spain
o
Rest of Europe
·
RoW
o
Brazil
o
South Africa
o
Saudi Arabia
o
UAE
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