Medical Electronics Market Share, Industry Growth, Trend, Drivers, Challenges, Key Companies by 2027

Growing geriatric population, wide area of application of imaging devices and growing awareness regarding routine checkup and rising demand for easy to use advanced healthcare devices are key factors contributing to high CAGR of Medical Electronics during the forecast period.
Market Size – USD 92.4 Billion in 2019, Market Growth - CAGR of 8.1%, Market Trends – Product launches and research for advanced medical electronics
According to the current analysis of Reports and Data, the global Medical Electronics market was valued at USD 92.4 Billion in 2019 and is expected to reach USD 162.5 Billion by the year 2027, at a CAGR of 8.1 %. Factors such as the growing standard of living, increasing aging population, rising health awareness, and increasing adoption of wearable electronics are driving the growth of the medical electronics market. The growing importance of medical electronics for patient tracking and other monitoring activities is further expected to propel the growth of the medical electronics market.
Technological innovation and technological portability with other medical equipment are some of the other factors boosting the growth of the medical electronics market. Factors such as the growing standard of living, increasing aging population, rising health awareness, and increasing adoption of wearable electronics are also expected to positively impact the medical electronics market during the forecast period. Likewise, the growing importance of medical electronics for patient tracking and other monitoring activities is expected to spur the growth of the medical electronics market.

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The report provides comprehensive assessment of the market covering key elements such as revenue estimations, cost analysis, import/export, production and consumption trends, CAGR, gross margin, and supply & demand patterns. It also sheds light on recent technological developments, product advancements, and research and development activities in the region.
The report examines the key players operating in the market along with their market position, market share, revenue, gross margin, and business strategies. SWOT analysis and Porter’s Five Forces Analysis are used to examine and assess the market and its players. It also covers recent mergers and acquisitions, joint ventures, collaborations, agreements, partnerships, and product launches and brand promotions.

Key companies profiled in the report include:
FUJIFILM Medical Systems, Toshiba Medical Systems, Philips Healthcare, Medtronic, Analog Devices and Hitachi High Technologies Corporation among others

Market Segmentation by Types:

Medical Electronics Market, by Type (Revenue, USD Million; 2016–2026)
• Invasive
o Pacemakers
o Implantable Cardioverter- Defibrillators (ICDs)
o Implantable Loop Recorders (ILRs)
o Spinal Cord Stimulators
o Gastric Electric Stimulators
o Endoscopes
• Non-invasive
o Imaging Devices
o Monitoring Devices

Medical Electronics Market, by Product Type (Revenue, USD Million; 2016–2026)
• Therapeutic
o Pacemakers
o Implantable cardioverter-defibrillators
o Neurostimulation devices
o Surgical robots
o Respiratory Care devices
• Diagnostic
o Patient monitoring devices
o PET/CT devices
o MRI scanners
o Ultrasound devices
o X-ray devices
o CT scanners
• Others

Medical Electronics Market, by Components (Revenue, USD Million; 2016–2026)
• Sensors
• Batteries
• Memory Devices
• Displays
• Microprocessors/Microcontrollers

Medical Electronics Market, by Application (Revenue, USD Million; 2016–2026)
• Imaging
• Therapeutics
• Patient Monitoring
• Homecare/Handheld Products

Medical Electronics Market, by End Use (Revenue, USD Million; 2016–2026)
• Hospital
• Ambulatory surgical centers
• Clinics
• Others

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Regional analysis covers in-depth analysis of analysis of the revenue, market share, and growth rate of the global Medical Electronics market in each region for the forecast period of 2021-2028. The report covers production and consumption rate, current and emerging trends, import/export, supply and demand, and presence of key players in each region.
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o U.K.
o Italy
o France
o BENELUX
o Rest of Europe
• Asia Pacific
o China
o India
o Japan
o South Korea
o Rest of APAC
• Latin America
o Brazil
o Rest of LATAM
• Middle East & Africa
o Saudi Arabia
o U.A.E.
o South Africa
o Rest of MEA

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Further key findings from the report suggest
• Based on application, patient monitoring segment is expected to witness lucrative growth at a CAGR of 5.2%. Adoption of telemetry and remote monitoring devices facilitate the monitoring of patients from long distances in the medical electronics market
• Europe is also contributing a good share in the global medical electronics market owing to the factor that there is good support from the government to improve the health sector within the region
• The component batteries for healthcare application is expected to grow at a high rate during the current forecast period owing to the increasing demand for wireless medical device, which has long battery life. High-density batteries in wearable medical devices are further driving the growth for the medical electronics market.
• As of 2018, North America held the largest market share in the global medical electronics market. The market is driven by various factors such as improved healthcare infrastructure and increasing demand for medical electronics in the region.
• Stringent regulatory process for product approval and high maintenance cost is likely to hinder the global medical electronics market growth during the forecast period

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