Semiconductor Applications in Healthcare Market is Expected to Grow at 10% CAGR by Forecast to 2023 | Global Top Key Players: TEXAS INSTRUMENTS, MEDTRONIC, PHILLIPS HEALTHCARE, GE HEALTHCARE, STMICROELECTRONICS, ABBOTT LABORATORIES

Industry Highlights:
Global Semi-Conductor Applications 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.

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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 Applications 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.

Major 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., and INTEL CORPORATION, amongst others.

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Rising Focus on R&D
Research and development plays a vital role towards the innovation in any given industry which require desired equipment and software to execute. Additionally, performing research and development offers a competitive advantage over the competitors owing to regular introduction of products and prototypes to attract consumers. This is expected to have a positive impact on the simulation software market growth over the forecast period.

Cloud to Exhibit the Fastest Growth
The simulation of diverse operations requires high processing horsepower which arises the demand for cloud-based computers which helps in accessing more powerful resources. The requirement for high processing power is further aided by the multiple or simultaneous simulations which are expected to boost the adoption of cloud-based software thereby propelling the market growth over the forecast period. Notably, the simulation software is quite expensive and small-scale, or midscale companies lack the enormous investment.

Asia Pacific to Exhibit the Fastest Growth
The rapid growth of economies in Asia Pacific region such as India is attracting investment in diverse industries which will ascend the demand for simulation software, especially in automotive and manufacturing industry. Furthermore, the government regulations associated with investment is expected to bring increase the R&D spending thereby propelling the market growth in the region over the forecast period.

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This release was published on openPR.