Industry Insights on Medical Electronics Market| GE Healthcare, Phillips, Siemens, Medtronic, 3M Health Care, FUJIFILM, Hitachi, Samsung Electronics America, Toshiba, Boston Scientific, Olympus Corporation of the Americas, On Semiconductor, Carestream
Healthcare service providers are opting for innovative medical technologies to improve healthcare delivery. Growing demand to collect, integrate and analyse healthcare data will reduce overall healthcare cost and improve operational efficiency.
Increasing adoption of minimally invasive surgeries is an emerging trend over the latest years. Surgical robots enable surgeons to perform extremely precise operations through very small incisions. Such medical interventions are performed for orthopaedic, cardiothoracic, vascular, urological, and neurological procedures and other specialties.
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Advances in technology and favorable regulations will act as the growth rendering factors for medical electronics market. Presence of friendly regulations will encourage local manufacturers to compete with international players using the uniform rules and regulations.
Diagnostics account for over 60% of medical electronics market share in 2016. Rise in awareness for preventive healthcare check-ups, diagnostic tests coupled with adoption of novel electronics for disease diagnosis will stimulate industry growth over the forecast period.
Therapeutic also held significant revenue share and is anticipated to witness considerable growth over the forecast years. Growing geriatric population, increasing chronic disease prevalence, soaring number of smokers and rising industrial pollution will fuel business growth.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• GE Healthcare
• 3M Health Care
• Hitachi Samsung Electronics America
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Ambulatory surgical centers deliver specialized care and treat patients at a reduced healthcare cost. It is highly regulated segment which ensures the safety and efficacy of the medical procedures. For instance, the rates of nosocomial infections in ambulatory surgical centers are far less than in hospitals.
Hospital are striving to gain operational efficiencies to cub the overall healthcare cost. It utilizes innovative medical electronic devices to offer quality service at a reasonable cost. Furthermore, competition among the hospitals is continuously increasing for providing better quality services at low prices. These factors are predicted to stimulate steady business growth over the coming years.
Germany medical electronics market held the largest regional revenue share in 2016. Presence of favorable import policies and growing trend towards use of technologically advanced product will stimulate the industry growth over the forecast years.
Moderate level of competition is observed among the companies as they target specific areas with their unique product offering. New product launches, product differentiation by innovation, geographic expansion along with mergers, acquisitions and partnerships are some of the strategies strategically adopted by the companies to gain competitive advantage.
The medical electronics is mature market undergoing rapid transformation. Although it has changed drastically in terms of product development and coverage of broad array of diseases that affect general population. The industry has been consistently dominated by already established medical electronics companies. However, existence for locally manufactured medical electronics can be good source revenue for companies eyeing to venture in the regional medical devices market.
ll the above factors are identified and analyzed in detail, with their present and expected market impact, which is quantified and used to derive market growth expectation. Market forecast is built using statistical analysis with models built around time-variance, regression and correlation analytics.
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Significant emphasis is put on primary research, which serves the dual role or not only validating our findings but also obtaining penetrating market insights, which help us gain more clarity regarding business environment and competitive leverage. Notable participants in our primary research process include
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