Medical electronics is a branch of electronics that primarily deals with the implementation, design and usage of electrical and electronic devices for healthcare and medical purpose which include diagnosis, examining, treatment, care, assistance and research fields. The global medical electronics market is expected to grow with a CAGR of 6% during the forecast period of 2016-2023. Medical electronic devices offer advantages such as small size, portability, enhanced efficiency, continuous monitoring etc. Increasing demand for wearable electronics among general population is contributing to the growth of the global medical electronics market during the forecast period. Examples of medical electronics include blood gas analyzer, digital thermometers, IR thermometers, sphygmomanometer, brain wave machine, electronic cardiac monitor, digital stethoscopes etc. Medical electronic devices are capable to measure blood pressure, insulin level, sugar level, blood coagulation level at home and send the data to the doctor to maintain the Electronic Health Record (HER) of the patient. Adoption of medical electronics offers secure access and also enables doctors and patients to stay connected to each other at different location. Moreover, demand for wearable electronics contributes to the market growth during the forecast period.
Adoption of wearable electronics among general population adds growth in the global medical electronics market during the forecast period. Wearable electronics are majorly used to monitor activities such as body temperature, blood pressure and heart rate of the human body. Electronics are integrated with wearable devices such as smart shoes, fitness watches, sleep mask, body wear etc.According to a report by IHS, the global market for wearable electronics will rise to $ 30 billion market revenue in 2018. Furthermore, total wearable shipments in 2018 would rise to 210 million units globally.
Source: OBRC Analysis
The report on global medical electronics market is segmented on the basis of its segments which include product, applications and components.
The products in medical electronics can be classifies as:
- Invasive
- Non invasive
The applications of medical electronics include:
- Diagnosis
- Monitoring
- Treatment
Component segment of medical electronics can be divided as:
- Batteries
- Displays
- Memory devices
- Microprocessors and Microcontrollers
- Sensors
The report scope is widely categorized on the basis of its segments such as product, applications and components. Moreover, the market revenue estimates and forecast includesonly the medical electronics devices. However, report scope excludes other electronic devices such as consumer electronics.
Geographically, the global medical electronics market report has been segmented in:
- North America (U.S. & Canada)
- Asia Pacific (China, India, Japan, RoAPAC)
- Europe (UK, France, Germany, RoE)
- Rest of World
North America accounted for the largest market share in terms of revenue for the medical electronics market in 2016 and the region is expected to dominate the market during the forecast period owing to advanced healthcare and electronics industries present in the region. Moreover, Asia Pacific is expected to be the fastest growing region for the medical electronics market during the forecast period. The increasing population along with increasing prevalence of chronic diseases and aging population are responsible for the fastest growth of medical electronics market in Asia Pacific region during the forecast period. The fastest growth of the region is also attributed to health awareness among general population and technological advancements, advanced healthcare and electronic industry in Asia Pacific.
Global medical electronicsmarket report covers segmentation analysis of product, applications and components. Report further covers segmentsof product which includes invasive and non invasive products. Non invasive segment accounted for the largest market share in terms of revenue for the contact center analytics market in 2016 and is expected to dominate the segment during the forecast period. The market players mainly concentrate on production of portable cardiac treatment devices such as ECGs which can be used at home by cardiac patients. This candrivesthe noninvasive segment during the forecast period. Moreover, the applications of medical electronics include diagnosis, monitoring and treatment. Diagnosis segment accounted for the largest market share in terms of revenue for the contact center analytics market in 2016 and is expected to dominate the segment during the forecast period owing to health awareness among general population. Furthermore, the component segment of in medical electronics can be divided as batteries, displays, memory devices, microprocessors and microcontrollers and sensors.
The major market players of the global medical electronicsmarket are:
- ANALOG DEVICES INC.
- GE HEALTHCARE PVT LTD.
- TEXAS INSTRUMENTS INC.
- ST MICROELECTRONICS N.V.
- NXP SEMICONDUCTORD N.V.
- OTHERS
These companies using various strategies such as merger & acquisition, collaboration, partnership and product launch whereas, mergers, partnerships and acquisitions is the key strategy adopted by the companies in the global medical electronicsmarket.
For example: In 2016, Analog Devices acquired Linear Technology. The major aim of this acquisition was to develop and manufacture highly efficient electronic devices for medical and healthcare.
The report covers detailed analysis of companies which comprises overview, SCOT analysis, product portfolio, strategic initiative, strategic analysis, competitive landscape and market share analysis in the global medical electronicsmarket.
Key reasons to buy the report:
- The report includes market estimation, forecast and analysis for the year 2016-2023 of the global medical electronicsmarket.
- Report includes detailed analysis of different segments such as product, applications and component of the global medical electronicsmarket.
- Identify and understand the strength, opportunities, challenges and threat of the global medical electronicsmarket during the forecast period.
- Covers details analysis of Porters 5 force model and other strategic models. Also covers revenues, market share analysis and competitive landscape analysis of major players of the global medical electronicsmarket.
- Detailed analysis of various regulatory policies which are affecting the global medical electronicsmarket during the forecast period.
How are we different from others:
At Occam’s we provide an extensive portfolio which is comprehensive market analysis along with the market size, market share, and market segmentations. Our report on the global medical electronics market offers detailed analysis of strategic models such as investment vs. adoption model, see saw analysis and others strategic models. Also, the report contains the detailed analysis of application, adoption scenario and decision support for each segment. The report discusses competitive landscape of the global medical electronicsmarket, with giving extensive SCOT analysis of key companies.
Key Findings of the global medical electronics market:
- Increasing demand for advanced healthcare devices is adding growth in the global medical electronicsmarket during the forecast period.
- North America held highest revenue share in 2016 and is expected to dominate the market during the forecast period.
- Non invasive segment accounted for the largest market share in terms of revenue for the contact center analytics market in 2016 and is expected to dominate the segment during the forecast period.
- Asia Pacific is expected to be the fastest growing region for global medical electronicsmarket during the forecast period.
- Acquisition is the key strategy adopted by players of the global medical electronics market.