Medical Electronics Market Size to Reach USD 5256.6 Million by 2027 at CAGR 2.6% - Valuates Reports
BANGALORE, India, April 14, 2021 /PRNewswire/ -- The Medical Electronics Market is Segmented by Type (Monitoring Equipment, Endoscopic, Heart Rate Regulator, Spinal Electrical Stimulation), Application (Hospitals, Clinic, Other). The report covers global opportunity analysis and industry forecast from 2021 to 2027. It is published on Valuates Reports in the Medical Devices & Equipment Category.
The Medical Electronics market size is projected to reach USD 5256.6 Million by 2027, from USD 4506.3 Million in 2020, at a CAGR of 2.6% during the forecast period 2021-2027.
The medical electronics market size is expected to grow rapidly as a result of factors such as an aging population, an increase in lifestyle and chronic diseases, increased demand for customized, easy-to-use, and advanced healthcare devices.
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TRENDS INFLUENCING THE GROWTH OF MEDICAL ELECTRONICS MARKET SIZE
Increased market penetration of portable medical devices that are easy to use is expected to drive the medical electronics market size. Medical technologies are evolving as a result of technological advances in sensors, embedded systems, and electronics. Portable medical devices enable convenient monitoring and treatment of patient health, thereby increasing its adoption.
The increasing medical needs of an aging populace and the instance of chronic diseases are expected to increase the growth of the medical electronics market size. Medical devices are needed in all areas of clinical practice, and many of them are the subject of significant research and development efforts around the world. Effective medical devices are required to manage many chronic health conditions and monitor health, especially in the older population.
Furthermore, the increasing use of radiation therapy in cancer diagnosis and treatment, as well as current favorable healthcare reforms and government financial support for senior citizens, are all contributing to the growth of the medical electronics market size.
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MEDICAL ELECTRONICS MARKET SHARE ANALYSIS
Based on Application, the Hospital segment is anticipated to be one of the most lucrative segments. The number of hospital admissions has increased due to the rising prevalence of cardiovascular diseases and respiratory infections. In addition, hospitals in both developed and developing countries that are part of the public healthcare system are well-equipped with high-efficiency medical electronic devices, which should help the segment expand in the coming years.
Based on the region, North America is considered to be the largest market for medical electronics. The rising adoption of connected medical devices, the growing use of technologically advanced medical imaging equipment, and the influence of disruptive technologies such as IoT and AI in the healthcare sector are all major factors driving North American market growth.
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Top Key Major Players in the Medical Electronics Market
- Analog Devices
- GE Healthcare
- Texas Instruments
- Stmicroelectronics
- Nxp Semiconductors
- Cypress Semiconductor
- Fairchild Semiconductor International
- Maxim Integrated Products
- On Semiconductor
- Renesas Electronics
- Siemens
- Philips Healthcare
- Tekscan
Medical Electronics Market Segment by Type
- Monitoring Equipment
- Endoscopic
- Heart Rate Regulator
- Spinal Electrical Stimulation
Medical Electronics Market Segment by Application
- Hospitals
- Clinic
- Other
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SIMILAR REPORTS :
- Capacitors for Medical Electronics Market Report contains segmentation by Type (Ceramic Capacitors, Tantalum Capacitors, Plastic Capacitors), Application (Implantable Defibrillators, Magnetic Resonance Imaging, Computed Tomography Imaging, X-Ray Machines, Others) and Regional Opportunity Analysis and Industry Forecast.
- The Portable Medical Electronics Products market size is projected to reach USD 11730 Million by 2027, from USD 10180 Million in 2020, at a CAGR of 2.4% during 2021-2027.
- The Medical Sensors market size is projected to reach USD 14340 Million by 2026, from USD 10060 Million in 2019, at a CAGR of 5.1% during 2021-2026.
- Medical Device Sensors Market is segmented by Type Pressure Sensors, Temperature Sensors, Image Sensors, Motion Sensors, by Application Diagnostics Devices, Therapeutic Devices, Patient Monitors Devices, Imaging Devices and by various regions.
- The Medical Device Connectivity market size is projected to reach USD 19570 Million by 2026, from USD 4080.7 Million in 2019, at a CAGR of 25.1% during 2021-2026.
- The global Digital Medicine market size is projected to reach USD 5214.2 Million by 2026, from USD 2352.1 Million in 2019, at a CAGR of 11.9% during 2021-2026.
- The Medical Device Contract Manufacturing Market is expected to grow from USD 46,539.09 Million in 2019 to USD 92,511.21 Million by the end of 2025 at a Compound Annual Growth Rate (CAGR) of 12.13%.
- The Biosensors market size was valued at USD 21050 Million in 2019 and it is expected to reach USD 41450 Million by the end of 2026, growing at a CAGR of 10.1% during 2021-2026.
- The Consumer Electronic Sensors market size is projected to reach USD 36090 Million by 2026, from USD 22560 Million in 2019, at a CAGR of 6.9% during 2021-2026.
To see the full list of related reports on the Medical Electronics
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