Medical Electronics Market Report 2024: Strategies And Recent Developments | Analog Devices Inc., Texas Instruments Incorporated, STMicroelectronics, Mouser Electronics

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2524

The Business Research Company offers in-depth market insights through Medical Electronics Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The medical electronics market size has grown rapidly in recent years. It will grow from $97.47 billion in 2023 to $111.27 billion in 2024 at a compound annual growth rate (CAGR) of 14.2%. The growth in the historic period can be attributed to aging population, chronic disease management, regulatory compliance, personalized medicine, global health preparedness.

The medical electronics market size is expected to see rapid growth in the next few years. It will grow to $193.18 billion in 2028 at a compound annual growth rate (CAGR) of 14.8%. The growth in the forecast period can be attributed to rise in healthcare expenditure, patient-centric care, telehealth services, digital health revolution, cost-efficiency. Major trends in the forecast period include miniaturization and wearable devices, artificial intelligence (ai) and machine learning, internet of things (iot)-connected devices, sustainable materials, patient engagement tools.

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Market Segmentation:
The main components of medical electronics are sensors, batteries, displays, MPUs, or MCUs, and memory chips. A sensor refers to a device that responds to and detects some type of input from the physical environment. The various device classifications include class I, class II, and class III used in non-invasive, minimally invasive, and invasive medical procedures for medical imaging, clinical, diagnostic, and therapeutics, patient monitoring, flow measurement, cardiology, and other applications. The various end-user products include diagnostic and imaging devices; patient monitoring devices; medical implantable devices; ventilators; and RGM equipment.

Major Driver - Geriatric Population Surge And Increasing Life Expectancy Fuel Medical Electronics Market Growth
The rise in the geriatric population and increasing life expectancy are expected to propel the growth of the medical electronics market going forward. The geriatric population refers to the elderly population aged 65 and above. Medical electronics help the geriatric population by supporting their health care needs to live longer, healthier lives. For instance, in October 2021, according to the report shared by the World Health Organization, a Switzerland-based specialised agency of the United Nations, the share of the population aged 60 years and over increased from 1 billion in 2020 to 1.4 billion and by 2050, the world's population of aged people 60 years and older will double (2.1 billion). The population aged 80 years or older is expected to triple between 2020 and 2050 to reach 426 million. Therefore, the rise in the geriatric population and the growing probability of life extension are driving the growth of the medical electronics market.

Competitive Landscape:
Major companies operating in the medical electronics market include Analog Devices Inc., Texas Instruments Incorporated, STMicroelectronics, Mouser Electronics, Cypress Semiconductor Corporation, Semiconductor Components Industries LLC, Digi-Key Electronics, Tekscan Inc., First Sensor AG, General Electric Company, Vucomp Inc., Hitachi High Technologies Corporation, Hologic Inc., TE Connectivity Ltd., Boston Scientific Corporation, Abbott Laboratories, Becton Dickinson and Company (BD), Stryker Corporation, Cardinal Health Inc., Koninklijke Philips N.V., EssilorLuxottica SA, Danaher Corporation, Johnson & Johnson., Novartis AG., Medtronic plc, Baxter International

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Top Trend - Innovations Transforming The Landscape Of The Medical Electronics Market
Innovations in medical electronics are a key trend gaining popularity in the medical electronics market. Major companies operating in the medical electronics market are developing new products to strengthen their position in the market. For instance, in November 2021, according to the FDA Center for Devices and Radiological Health, a branch of the United States Food and Drug Administration responsible for the premarket approval of all medical devices, CDRH Innovation is developing activities to support medical device innovators to increase patient access to innovative medical devices developed by small businesses and start-ups through its own Small Business Innovation Research (SBIR) grant program. It encourages domestic small businesses to engage in research and development with the potential for product commercialization. CDRH is partnering with various innovation groups and accelerators to support early-stage companies in the development of this medical device.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Medical Electronics Market Characteristics
3. Medical Electronics Market Trends And Strategies
4. Medical Electronics Market - Macro Economic Scenario
5. Medical Electronics Market Size And Growth
…..
27. Medical Electronics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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