by The global medical electronics market research report of Precedence Research gives a brief summary of definitions, overview, products, applications, and major players/key vendors of the medical electronics industry. Also, the report offers exclusive insights to help companies make informed decisions to sustain growth through the assessment period.
The global medical electronics market size is forecasted to reach from US$ 90.76 billion in 2021 to US$ 248.43 Billion by 2030 and is anticipated to grow at compounded annual growth rate (CAGR) of 11.8% from 2021 to 2030.
The report contains 150+ pages with detailed analysis. The base year for the study has been considered 2021, the historic year 2017 and 2020, the forecast period considered is from 2021 to 2030. The medical electronics market is analyzed on the basis of value (US$ Million), volume (Unit), and price (US$/Unit).
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The rising prevalence of various chronic diseases, growing geriatric population, rising number of road traffic accidents, and rising number of hospital admissions across the globe is augmenting the demand for the medical electronics across various healthcare units. The proliferation of digital technologies coupled with the rising adoption of the medical electronic devices to offer quick and enhanced patient care diagnostic and therapeutic services is propelling the growth of the global medical electronics market. Moreover, the rising demand for the minimal-invasive surgeries and non-invasive diagnostic devices are expected to drive the demand for the medical electronics across the globe.
Scope of the Medical Electronics Market
| Report Coverage | Details |
| Market Size In 2030 | US$ 248.9 billion |
| Growth Rate From 2021 to 2030 | CAGR of 11.8% |
| Largest Market | North America |
| Fastest Growing Market | Asia Pacific |
| Base Year | 2021 |
| Forecast Period | 2021 to 2030 |
Competitive Landscape Analysis:
Some of the leading companies operating in the medical electronics market are profiled in the market study. The report also underscores winning strategies adopted over the last few years and gauges impact of the same on growth trajectory exhibited by the market over the last few years.
Major companies operating in this report are
- Renesas Electronics Corporation
- Siemens AG
- ON Semiconductor Corporation
- GE Healthcare
- Freescale Semiconductor Inc.
- Texas Instruments Incorporated
- STMicroelectronics N.V.
- Philips Healthcare Pvt. Ltd.
- Tekscan, Inc.
- NXP Semiconductors N.V.
Report Highlights
- Based on the product, the diagnostics is estimated to be the most opportunistic segment during the forecast period. The rising awareness among the population regarding the benefits of early detection of the various chronic diseases is augmenting the demand for the various diagnostic devices. Moreover, the growing geriatric population across the globe is significantly fueling the patient monitoring diagnostic devices as they are more susceptible to the chronic diseases.
- Based on the application, the hospitals segment dominated the market, accounting for over 45% of the market share in 2020. The rising government and private sector investments in the development of multi-specialty hospitals and smart hospitals is surging the adoption of the latest and enhanced medical electronic devices in the hospitals. Moreover, the increased presence of various government and private hospitals across the globe is fueling the growth of this segment significantly.
Market Dynamics
Driver
The growing healthcare expenditure across the globe
The burden of various chronic diseases and infections is growing and so as the healthcare expenditure of the people. The improving lifestyle, growing geriatric population, rising disposable income, rising penetration of the healthcare insurances, and improved access to healthcare facilities are the major factors that drives growth of the medical electronics market. The consumers are increasing spending on their healthcare. In 2018, the per capita healthcare expenditure in US was over US$ 10,500. This number is expected to increase during the forecast period.
Restraints
High cost of the advanced medical electronics
There is a huge capital investment involved in the acquisition and installation of the latest medical electronics in the healthcare units. The lack of proper healthcare infrastructure and weak economic conditions in the developing and underdeveloped markets may hamper the growth of the global medical electronics market during the forecast period.
Opportunities
The rising adoption of the digital and sensor technologies in the electronic devices
The proliferation of the digital technologies is boosting the adoption of the sensors, artificial intelligence, and internet of medical things technologies in the medical electronics. These technologies helps in providing quick, efficient, and cost-effective patient care services, which in turn fuels the demand for the medical electronics among the population.
Challenges
The increased complications in designing the medical electronics
The demand for the portable, efficient, and cost-effective electronic devices is growing exponentially across the healthcare sector. With the rising miniaturization of the electronic medical devices, the manufacturers are facing difficulties in designing the small and portable medical electronics that can also offer cost-effectiveness. These growing complications in the medical electronic devices may present a more challenging and complicated manufacturing process in the upcoming future.
Regional Snapshot
North America dominated the global medical electronics market, garnering a market share of around 45% in 2020. North America is characterized by the increased healthcare expenditure and the presence strong healthcare infrastructure. Moreover, the increased prevalence of chronic diseases among the US population and increased demand for the various diagnostic services has fueled the growth of the market.As per the data providedby the CDC,approximately 45 million outpatient surgeries, more than 900 million physician visits, and around 155 million emergency department visits in US were recorded in US in 2019. Further, according to the American Heart Association, over 40% of the US adults are forecasted to be affected with hypertension by 2030. Around 60% of the US population is suffering from at least one chronic disease and hence, the demand for the medical electronics is higher in North America.
Asia Pacific is estimated to be the most opportunistic market during the forecast period. The rising government and corporate investments in the development of smart and advanced healthcare units in order to serve the huge population in Asia Pacific region is expected to boost the growth of the market. The rising geriatric population and growing number of road accidents is fueling the number of hospital admissions in the region. According to the WHO, around 93% of the road traffic accidents occur in the low and middle-income countries. Moreover, around 80% of the geriatric population are expected to be residing in the underdeveloped and developing nations by 2050. Therefore, the growing demand for the medical electronics in Asia Pacific region is expected to drive the market growth in the foreseeable future.
Market Segmentation
By Product
- Therapeutics
- Implantable Medical Devices
- Surgical Robots
- Pacemakers
- Neuro stimulation Devices
- Respiratory Care Devices
- Diagnostics
- CT/PET Devices
- Patient Monitoring Devices
- Ultrasound Devices
- X-Ray Devices
- MRI Scanners
- CT Scanners
- Others
- Others
By Application
- Hospitals
- Ambulatory Centers
- Homecare
- Others
Regional Segmentation
– North America (U.S. and Canada)
– Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
– Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)
– Latin America (Brazil and Rest of Latin America)
– Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)
Why should you invest in this report?
If you are aiming to enter the global medical electronics market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for medical electronics are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030, so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
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TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Medical Electronics Market
5.1. COVID-19 Landscape: Medical Electronics Industry Impact
5.2. COVID 19 – Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Medical Electronics Market, By Product
8.1. Medical Electronics Market, by Product Type, 2021-2030
8.1.1. Therapeutics
8.1.1.1. Market Revenue and Forecast (2019-2030)
8.1.2. Diagnostics
8.1.2.1. Market Revenue and Forecast (2019-2030)
8.1.3. Others
8.1.3.1. Market Revenue and Forecast (2019-2030)
Chapter 9. Global Medical Electronics Market, By Application
9.1. Medical Electronics Market, by Application, 2021-2030
9.1.1. Hospitals
9.1.1.1. Market Revenue and Forecast (2019-2030)
9.1.2. Ambulatory Centers
9.1.2.1. Market Revenue and Forecast (2019-2030)
9.1.3. Homecare
9.1.3.1. Market Revenue and Forecast (2019-2030)
9.1.4. Others
9.1.4.1. Market Revenue and Forecast (2019-2030)
Chapter 10. Global Medical Electronics Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Product (2019-2030)
10.1.2. Market Revenue and Forecast, by Application (2019-2030)
10.1.3. U.S.
10.1.3.1. Market Revenue and Forecast, by Product (2019-2030)
10.1.3.2. Market Revenue and Forecast, by Application (2019-2030)
10.1.4. Rest of North America
10.1.4.1. Market Revenue and Forecast, by Product (2019-2030)
10.1.4.2. Market Revenue and Forecast, by Application (2019-2030)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Product (2019-2030)
10.2.2. Market Revenue and Forecast, by Application (2019-2030)
10.2.3. UK
10.2.3.1. Market Revenue and Forecast, by Product (2019-2030)
10.2.3.2. Market Revenue and Forecast, by Application (2019-2030)
10.2.4. Germany
10.2.4.1. Market Revenue and Forecast, by Product (2019-2030)
10.2.4.2. Market Revenue and Forecast, by Application (2019-2030)
10.2.5. France
10.2.5.1. Market Revenue and Forecast, by Product (2019-2030)
10.2.5.2. Market Revenue and Forecast, by Application (2019-2030)
10.2.6. Rest of Europe
10.2.6.1. Market Revenue and Forecast, by Product (2019-2030)
10.2.6.2. Market Revenue and Forecast, by Application (2019-2030)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Product (2019-2030)
10.3.2. Market Revenue and Forecast, by Application (2019-2030)
10.3.3. India
10.3.3.1. Market Revenue and Forecast, by Product (2019-2030)
10.3.3.2. Market Revenue and Forecast, by Application (2019-2030)
10.3.4. China
10.3.4.1. Market Revenue and Forecast, by Product (2019-2030)
10.3.4.2. Market Revenue and Forecast, by Application (2019-2030)
10.3.5. Japan
10.3.5.1. Market Revenue and Forecast, by Product (2019-2030)
10.3.5.2. Market Revenue and Forecast, by Application (2019-2030)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Forecast, by Product (2019-2030)
10.3.6.2. Market Revenue and Forecast, by Application (2019-2030)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Product (2019-2030)
10.4.2. Market Revenue and Forecast, by Application (2019-2030)
10.4.3. GCC
10.4.3.1. Market Revenue and Forecast, by Product (2019-2030)
10.4.3.2. Market Revenue and Forecast, by Application (2019-2030)
10.4.4. North Africa
10.4.4.1. Market Revenue and Forecast, by Product (2019-2030)
10.4.4.2. Market Revenue and Forecast, by Application (2019-2030)
10.4.5. South Africa
10.4.5.1. Market Revenue and Forecast, by Product (2019-2030)
10.4.5.2. Market Revenue and Forecast, by Application (2019-2030)
10.4.6. Rest of MEA
10.4.6.1. Market Revenue and Forecast, by Product (2019-2030)
10.4.6.2. Market Revenue and Forecast, by Application (2019-2030)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Product (2019-2030)
10.5.2. Market Revenue and Forecast, by Application (2019-2030)
10.5.3. Brazil
10.5.3.1. Market Revenue and Forecast, by Product (2019-2030)
10.5.3.2. Market Revenue and Forecast, by Application (2019-2030)
10.5.4. Rest of LATAM
10.5.4.1. Market Revenue and Forecast, by Product (2019-2030)
10.5.4.2. Market Revenue and Forecast, by Application (2019-2030)
Chapter 11. Company Profiles
11.1. Renesas Electronics Corporation
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Siemens AG
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. ON Semiconductor Corporation
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. GE Healthcare
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. Freescale Semiconductor Inc.
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Texas Instruments Incorporated
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. STMicroelectronics N.V.
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Philips Healthcare Pvt. Ltd.
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Tekscan, Inc.
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. NXP Semiconductors N.V.
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.
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