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A comprehensive industry overview and market perspective are included in the latest study from MarkNtel Advisors titled Global Medical Electronics Market. The research provides a detailed overview of the current market state, including market trends and the most recent advancements made globally. In-depth analysis of market size, share, industry trends, forecast, and competitive environment is covered in the report that presents clear picture of the market with relevant statistical data.
The report combines in-depth quantitative analysis with qualitative analysis; it ranges from macro-overviews of the overall market size, industry chain, and market dynamics to micro details of segment markets. This, as a result, provides a thorough overview of the industry under study as well as a profound understanding of all of its important features.
Global Medical Electronics Market Definition:
Medical electronics comprises electric components used in the diagnosis of medical conditions in a patient. It incorporates microcontrollers, sensors, power supplies, memory devices, etc. These electronic components are mainly driven by surging demand for home & hospital patient monitoring devices & higher investment in the expansion of medical infrastructure.
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Global Medical Electronics Market Insights:
The Global Medical Electronics market is projected to grow at a CAGR of around 7% during the forecast period, i.e., 2023-28.
Global Medical Electronics Market Driver:
Rising Healthcare Expenditures to Influence the Growth – Many Countries across the globe such as US, Germany, France, Japan, etc., had high healthcare spending during the past few years. As per Centre for Disease Control and Prevention, the healthcare expenditure of the US reached approximately USD3,453 billion in 2019 from USD2,658 billion. Along with this, Germany has highest level of current healthcare expenditure among European Union (EU) Members valued at approximately USD493 billion in 2020, followed by France which healthcare expenditure of almost USD320 billion. Moreover, the growing investment in the healthcare industry by the countries such as the US, Germany, Japan, etc., has increased the number of medical facilities owing to which the demand for medical electronic has risen, which consequently is driving the demand for medical electronic components such as sensors, microcontrollers, and power supplies.
As healthcare expenditure is increasing, focus on improving patient outcomes is also surging and medical devices play a critical role in providing these solutions, and the demand for these devices is expected to increase in the coming years which subsequently would support the growth of the medical electronics component market.
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Global Medical Electronics Market Leading Key Players:
Analog Devices, Infineon Technologies AG, STMicroelectronics, NXP Semiconductors, Texas Instruments Inc., ON Semiconductor Corporation, Microchip Technology, Japan Semiconductor Corporation AMS, Renesas Electronics Corporation, Others
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Global Medical Electronics Market Segmentation:
Based on Component
– Sensors,
— Temperature Sensors,
— Pressure Sensors,
— Blood Glucose Sensors,
— Blood Oxygen Sensors,
— ECG Sensors,
— Image Sensors,
— Motion Sensors,
— Heart rate Sensors,
— Others (Position Sensors, Piezo Film Sensors, etc.),
– Batteries,
— Lithium-ion batteries,
— Nickel-metal hydride batteries,
— Zinc-carbon batteries,
— Others (Nickel-cadmium batteries, Silver-zinc batteries, Alkaline batteries, etc.),
– Memory Chips,
— Flash Memory,
— Synchronous dynamic random-access memory (SDRAM)
— Ferroelectric RAM (FRAM)
— Erasable programmable read-only memory (EPROM)
— Electrically erasable programmable read-only memory (EEPROM)
— Others (magnetic memory, optical memory, etc.)
– Displays
— TFT LCD Displays
— OLED Displays
— LED Displays
– Microprocessors/Microcontrollers
— Microprocessor Units
— Microcontrollers Units
— Application-Specific Integrated Circuits
— Field-Programmable Gate Arrays
Based on End-User Product
– Diagnostic Imaging Devices
— MRI Scanners
— X-Ray Scanners
— CT Scanners
— Ultrasound Scanners
— Nuclear Imaging Systems
— PET Scanners
— SPECT Scanners
— Endoscopy
– Patient Monitoring Devices
— Cardiac Monitors
— ECG/EKG Monitors
— Heart Rate Monitors
— Doppler Fetal Monitors
— Multipara Monitors
— Digital Thermometers
— Respiratory Monitors
— Pulse Oximeters
— Continuous Positive Airway Pressure (CPAP) Devices
— Sleep Apnea Monitors
— Anesthesia Monitors
— Hemodynamic Monitors
— Blood Pressure Monitors
— Blood Glucose Monitors
— Blood Gas Monitors
– Medical Implantable Devices
— Pacemakers
— Spinal Cord Stimulators
— Gastric Electric Stimulators
— Implantable Loop Recorders
– Ventilators and RGM Equipment
– Other Devices (Patient Position Monitor, Coagulation monitors, etc.)
Based on Medical Device Classification
– Class I
– Class II
– Class III
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Global Medical Electronics Market Geographical Analysis
By Region
– North America
– South America
– Europe
– The Middle East and Africa
– Asia-Pacific
Recent Development of Global Medical Electronics Market:
2023: Analog Devices, Inc. introduced LTM8080, a super low noise dual output DC/DC μModule regulator with patented silicon, layout, and packaging innovations. It is a power management module that operates with an input voltage of up to 40 volts. The module also includes two distinct low dropouts (LDO) regulators that operate quietly and with minimal voltage loss.
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