Medical Electronics Market Forecast 2028: Key Players and Emerging Trends

Jackson Harris
2 days ago
4 min read

Future of Medical Electronics Market: Key Dynamics, Size & Share Analysis

The Global Medical Electronics market is projected to grow at a CAGR of around 7% during the forecast period, i.e., 2023-28. Several chronic diseases have grown across the globe due to numerous factors such as sedentary lifestyles, aging population, genetic factors, and various other environmental factors such as pollution, exposure to toxins, climate change, etc. According to the World Health Organization (WHO), non-communicable diseases & chronic diseases accounted for 71% of all deaths globally in 2020, and it is estimated that by 2030, the number of deaths from chronic diseases would rise by around 17%. These chronic diseases lead to complications & fatal outcomes and are responsible for several death cases across the globe.

Top Challenges Impacting the Medical Electronics Market Growth

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.

Understanding the Core Segments in the Medical Electronics Market

Medical Electronics Market Size, Share & Industry Trends Analysis-By Device Type (Insulin Pumps for Diabetes Monitoring, Blood Pressure Monitors, Heart Rate Monitors, ECG Monitors (Holters), Respiratory Therapy Management, Scanners (Computer Tomography), MRI, Ultrasound, X-Ray, Hemodialysis and Peritoneal Dialysis Machines, Implantable Cardioverter Defibrillator, Rechargeable Wearable Device, Hearing Implants, Others (Sleep Monitors, Smart Bandage, etc.)), By Component (Sensors, Batteries, Memory Chips, Displays, Microprocessors/Microcontrollers), By End-User Product (Diagnostic Imaging Devices, Medical Implantable Devices, Ventilators and RGM Equipment, Other Devices (Patient Position Monitor, Coagulation monitors, etc.)), By Medical Device Classification (Class I, Class II, Class III).

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Geographical Analysis of the Medical Electronics Market

North America
South America
Europe
The Middle East & Africa
Asia-Pacific

North American region has exhibited significant growth during the historical period in the Global Medical Electronics market due to high demand for diagnosis devices & medical implantable devices.

Who Dominates the Medical Electronics Market Insights on Key Industry Players?

Companies are strengthening their presence in the consumer electronics market by adopting strategies such as forming strategic alliances, leveraging AI, entering partnerships, pursuing mergers and acquisitions, expanding into new regions, and introducing innovative products and services.d

Analog Devices
Infineon Technologies AG
STMicroelectronics
NXP Semiconductors
Texas Instruments Inc.
ON Semiconductor Corporation
Microchip Technology
Japan Semiconductor Corporation
AMS
Renesas Electronics Corporation
TE Connectivity
TDK Corporation
Vishay Intertechnology
Sensirion AG
Others

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