North America medical electronics market accounted 44.9% market share in 2018. The major factors driving the North America regional growth includes high healthcare expenditure, increased income levels and high adoption rates of advanced medical electronic equipment. Innovative products manufactured by various medical electronics companies will further boost regional market growth during the forecast years. —
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Diagnostics segment was valued at USD 45.7 billion in 2018 and is projected to experience significant growth over the forecast period. Increasing awareness regarding benefits of early diagnosis will propel the demand for better and accurate diagnostic medical electronics. Moreover, increasing R&D efforts by major players that enable developments in diagnostic devices will surge the segmental growth. For instance, Siemens introduced ACUSON SC2000 cardiovascular ultrasound diagnostic machine that is integrated with advanced technology and supports accurate diagnosis.
Medical Electronics Market will exceed USD 169 billion by 2025; as per a new research report. Increasing demand for minimally invasive surgeries will render significant positive impact on medical electronics industry growth. Geriatric population generally prefers minimally invasive surgeries as it involve less complications. According to United Nations, the global geriatric population in 2017 was 962 million and majority of the geriatric population suffers from chronic ailments. This scenario proves beneficial for the industry growth as it elevates the demand for recently developed medical electronic devices utilized in minimally invasive surgeries.
Technological advancements introduced in diagnostic and therapeutic devices should favor industry growth. Availability of emerging microtechnology and nanotechnology electronics such as diagnostic chips for remote monitoring of vital organs such as brain, heart, lung, liver and kidney will positively impact the industry growth in upcoming years. However, regulatory compliances involved with product development, marketing and manufacturing would limit independent decision making for companies such as changing supplier or changing part of machine that may impede medical electronics industry growth over the coming years.
Hospital segment accounted for considerable revenue share and is expected to witness 13% growth during forecast period. Rising cost containment measures undertaken by regulatory authorities to provide affordable healthcare services to patients without compromising on quality of service has raised the demand for medical electronic devices in hospitals to provide effective diagnosis and treatment.
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China medical electronic devices dominated the Asia Pacific market and is estimated to grow at 13.4% throughout forecast period. Growth is primarily driven by soaring dominance of diseases coupled with growing geriatric population and rising per capita income. Furthermore, favorable reimbursement scenario associated with manufacturing and marketing of electronic devices will positively influence the industry growth.
Some of the prominent business players operating in medical electronics market include Abbott, Boston scientific, Carestream Health, Fujifilm Medical system, GE Healthcare, Hitachi High Technologies Corporation, Maxim Integrated, Samsung electronics, and Toshiba Corporation. Companies focus on strategic alliances to strengthen their market position and capitalize on market opportunities. For instance, in September 2017, Siemens introduced 5.0 version of ACUSON SC2000 cardiovascular ultrasound system. The system was designed to integrate angiography images with ultrasound results to gain accurate results and assist in treatment decisions. Introduction of new medical devices will strengthen company?s already existing product portfolio.
Table of content:
Chapter 1. Methodology
Chapter 2. Executive Summary
Chapter 3. Medical Electronics Industry Insights
Chapter 4. Medical Electronics Market, By Product
Chapter 5. Medical Electronics Market, By End-use
Chapter 6. Medical Electronics Market, By Region
Chapter 7. Company Profiles
More Details on this Report At: https://www.marketstudyreport.com/reports/medical-electronics-market
Global Medical Electronics Market Research Report 2019
This report focuses on Medical Electronics volume and value at global level, regional level and company level. From a global perspective, this report represents overall Medical Electronics market size by analyzing historical data and future prospect. Regionally, this report focuses on several key regions: North America, Europe, China and Japan.
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