Semiconductor in Healthcare Market Generating Strong CAGR 10% by 2023 | Texas Instruments, Medtronic, Phillips Healthcare, GE Healthcare, STMicroelectronics, Roche Diagnostic Limited, Abbott Laboratories, Spacelabs Healthcare

Semiconductor in Healthcare Market

Global Semiconductor in Healthcare Market expected to grow at a CAGR of over 10%, during the forecast period (2018-2023). The scope of the report is limited to applications of semiconductors in healthcare which include Portable & Telehealth Monitoring, Consumer Medical Electronics, Medical Imaging, Clinical, Diagnostics and Therapy. While the components considered in the scope of the report include Integrated Circuits, Optoelectronics, Sensors, and Discrete Components.

The use of semiconductors in healthcare has been increasing owing to the revolutionary changes in the domain such as digitization and automation of various activities such as surgery for which robotic assistance is being employed. The digitization has been enabling in the in the implementation of such automation. The use of sensors and other wireless technology are being used for remote patient monitoring. A wide range of solutions are still in the development phase to harness data from connected devices and other electronic ecosystems to enable better patient care. 3D printing of organs and medical devices has also been one of the recent developments which are expected to increase the use of semiconductor.

Key Developments in Semiconductor in Healthcare Market

March 2018 - S3 semiconductor group has agreed to sell its semiconductor business to which will enable its businesses to better customize its products.

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Top Industry Players:

Texas Instruments, Medtronic, Inc., Phillips Healthcare, GE Healthcare, STMicroelectronics, Roche Diagnostic Limited, Abbott Laboratories, Spacelabs Healthcare, Omron Healthcare, Inc., Renesas, Electronics Corporation, Freescale Semiconductor, Inc. (NXP Semiconductors), Analog Devices, Inc., Intel Corporation amongst others.

Growing Technology in Medicine and Healthcare Leading to Growth of Semiconductor Use

The semiconductor industry will play a pivotal role in designing and developing portable and affordable medical devices. The connectivity enabled by semiconductor technology (wired or wireless) will drive applications such as telemedicine that will facilitate access to the required level of healthcare. Extending its high-performance analog expertise in the medical imaging market, Texas Instruments (TI) recently introduced a family of fully integrated analog front ends (AFEs) for portable to high-end ultrasound diagnostic equipment. The opening up of medical insurance sector is expected to create further interest in private sector participation in healthcare infrastructure projects. Some of the areas that are being addressed by technology are preventive health care, technology solutions for disability and high-quality healthcare for diseases. Preventive healthcare would need continuous or regular monitoring of health parameters, technological advances in early detection of diseases by study and analysis of molecular level changes, or use high-end processing technologies.

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Need For Increasing Use of Ultrasound Devices Promotes Their Use

Need for ultrasound equipment in for various purposes in medicine such as imaging, diagnostic sonography, to visualize subcutaneous body structures such as joints, muscles, etc. Extending its high-performance analog expertise in the medical imaging market, Texas Instruments (TI) recently introduced a family of fully integrated analog front ends (AFEs) for portable to high-end ultrasound diagnostic equipment. Ultrasonic technology has been increasingly used in surgery to perform USIs (ultrasonic surgical instruments). USI can be used to cut bone and other tissue for various purposes while simultaneously reduces bleeding by coagulating tissue achieving dual optimal scenario.

North America Expected To Have High a High Adoption Rate for Semiconductors

The country has been the hub for many of the major players in the market and has been increasing the investments in medical technology which has been increasing the growth of semiconductors in medical care. Prominently, about 8 of the industry’s 61 pure-play commercial leaders have bolstered its products by investing by more than USD 500 million, and six of those eight have been through mergers and acquisitions in the region. Various Medical equipment manufacturers have been stationed throughout the country, but a majority of these are primarily centered in areas which are known for other forms of technology-intensive industries, such as microelectronics and biotechnology.

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This release was published on openPR.