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High Density Interconnect (HDI) Rigid-Flex PCBs Boast of Significant Opportunity Within Healthcare & Medical Devices Market

02-23-2023 10:31 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: MarketsandMarkets

High Density Interconnect (HDI) Rigid-Flex PCBs Boast

The high density interconnect market is expected to grow from USD 9.5 billion in 2018 to USD 16.9 billion by 2023, at a CAGR of 12.3% from 2018 to 2023.
The healthcare & medical device industry requires lightweight and compact devices. Therefore, it often opts for high-density interconnect (HDI) printed circuit boards (PCBs) to accommodate the internal circuitry for many small medical devices. The PCB technology packs many connections in a minute area, allowing for a compact board. Healthcare and medical professionals often incline toward flex or?rigid-flex PCBs for critical medical devices, as these usually do not conform to typical PCB specifications. Also, they aim to work with robust, highly efficient, and damage-resistant products.

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https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=179767298

Modern-day electronic products used in the healthcare and medical fields are often used for life-saving procedures and functions; hence, a PCB failure could lead to a critical health risk. Hence, the healthcare industry demands high-quality PCB fabrication and PCB assembly (PCBA) to produce exceptionally reliable and long-lasting components. Also, device inter-connectivity via the internet is vital for improving medical systems and transferring essential data. Hence, designing PCBAs for IoT?is the trend in electronics medical device manufacturing. According to market research firm MarketsandMarkets, the Global IoT Medical Devices Market is expected to account for USD 94.2 million by 2026, growing at a compounded annual growth rate (CAGR) of 28.9% between 2021-2026.

The rising demand for self-monitoring health vitals for wellness, exercise, or medical conditions has led to?non-standard PCB form factor?designs. As per a market research study conducted by MarketsandMarkets, the Global Wearable Technology Market was valued at USD 116.2 billion in 2021 and is analyzed to grow at a CAGR of 18.0% between 2021-2026. Hence, by initiating?agile processes, PCB manufacturers can incorporate design changes iteratively with minimal production disruptions.

Also, Industry 4.0 (industrial production revolution) emphasizes software and communications to improve manufacturing efficiency and speed. This can be achieved by optimizing design for manufacturing (DFM) and design for assembly (DFA) utilizations. Market research firm, MarketsandMarkets, predicts the Global Industry 4.0 Market to expand at a CAGR of 20.6% between 2021-2026 and estimates the market to be valued at USD 165.5 billion by 2026.

Lastly, the manufacturers are also trying to reduce costs and increase margins to gain substantial market share and sustain in a highly competitive and fragmented market. They are resorting to employing digital twin technology to prevent waste and mitigate development costs. For PCB manufacturing,?this technology?identifies potential errors before the first board is spun. According to market research firm MarketsandMarkets, the Global Digital Twin Market is expected to account for USD 73.5 million by 2027, growing at a brisk CAGR of 60.6% between 2022-2027.

News also Covered: https://www.prnewswire.com/news-releases/high-density-interconnect-market-worth-16-9-billion-by-2023---exclusive-report-by-marketsandmarkets-300788095.html

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

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