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Navigational, Measuring, Electro medical And Control Instruments Market Trends, Top Companies, Share, Growth And Forecast 2033
Navigational, Measuring, Electro medical And Control Instruments Market
According to The Business Research Company's, The navigational, measuring, electro medical and control instruments market size has grown strongly in recent years. It will grow from $698.75 billion in 2023 to $749.03 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to technological advancements, regulatory compliance, healthcare industry growth, industrial automation, aerospace and defense.
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Market Drivers and Trends:
The increasing demand for medical devices is expected to propel the growth of the navigational, measuring, electromedical, and control instruments market going forward. Medical devices refer to the specialized instruments, apparatuses, machines, implants, or software applications that are designed, manufactured, and used for medical purposes. Medical devices play a vital role in promoting the health, safety, and well-being of employees in, electro-medical instruments by contributing to a healthier and more productive workforce, ultimately benefiting both employees and employers. For instance, in January 2021, according to gov.UK and UK Health Security Agency, the official website of the UK government, there are almost 600,000 medical devices in the UK. Therefore, the increasing demand for medical devices is driving the growth of the navigational, measuring, electromedical, and control instruments market going forward.
New advancements in smartwatches using AI are one of the latest trends in the navigational, measuring, electromedical, and control instruments manufacturing market. Smartwatches equipped with additional features such as AI are gaining popularity among watch users. An AI-enabled smartwatch is a wearable device that offers various features to its users such as calculations, translations, messaging, and health tracking, and is directly connected to the internet. The AI-enabled smartwatch uses sensors to detect the electrical signals given by the wearer's heart and can monitor blood pressure, can analyze the glucose levels of a patient. For instance, in September 2023, Zepp Health Corporation, a China-based technology company, launched Amazfit Balance with AI-empowered features. This was developed to assist people in finding the ideal balance between life, work, and wellness. The Amazfit Balance succeeds the brand's Amazfit GTR and GTS family of smartwatches by building on the innovative capabilities and technology that made these devices resonate so strongly with a global community of users.
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Major Key Players of the Market:
Thermo Fisher Scientific Inc.; Siemens AG; Honeywell International Inc.; Schneider Electric SE; Agilent Technologies Inc.; Hexagon AB; Emerson Electric Co.; Hologic Inc.; Roche Diagnostics Corporation; Hexagon AB; Medtronic plc; Bruker Corporation; Ametek Inc.; Analog Devices Inc.; Zebra Technologies Corporation; Carl Zeiss AG; Danaher Corporation; Endress Hauser AG; Fluke Corporation; GE HealthCare Technologies Inc.; Keysight Technologies Inc.; Waters Corporation; Leica Geosystems AG; Stryker Corporation; Omron Corporation; Rockwell Automation Inc.; Boston Scientific Corporation; Shimadzu Corporation; Yokogawa Electric Corporation; Teledyne Technologies Inc.; Johnson & Johnson
Navigational, Measuring, Electro medical And Control Instruments Market 2024 Key Insights:
• The navigational, measuring, electro medical and control instruments market size is expected to grow to $974.02 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%.
• The increasing demand for medical devices is expected to propel the growth of the navigational, measuring, electromedical, and control instruments market going forward. Medical devices refer to the specialized instruments, apparatuses, machines, implants, or software applications that are designed, manufactured, and used for medical purposes. Medical devices play a vital role in promoting the health, safety, and well-being of employees in, electro-medical instruments by contributing to a healthier and more productive workforce, ultimately benefiting both employees and employers. For instance, in January 2021, according to gov.UK and UK Health Security Agency, the official website of the UK government, there are almost 600,000 medical devices in the UK. Therefore, the increasing demand for medical devices is driving the growth of the navigational, measuring, electromedical, and control instruments market going forward.
• New advancements in smartwatches using AI are one of the latest trends in the navigational, measuring, electromedical, and control instruments manufacturing market. Smartwatches equipped with additional features such as AI are gaining popularity among watch users. An AI-enabled smartwatch is a wearable device that offers various features to its users such as calculations, translations, messaging, and health tracking, and is directly connected to the internet. The AI-enabled smartwatch uses sensors to detect the electrical signals given by the wearer's heart and can monitor blood pressure, can analyze the glucose levels of a patient. For instance, in September 2023, Zepp Health Corporation, a China-based technology company, launched Amazfit Balance with AI-empowered features. This was developed to assist people in finding the ideal balance between life, work, and wellness. The Amazfit Balance succeeds the brand's Amazfit GTR and GTS family of smartwatches by building on the innovative capabilities and technology that made these devices resonate so strongly with a global community of users.
• Asia-Pacific was the largest region in the navigational, measuring, electro medical and control instruments market in 2023.
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