MarkNtel Advisors recently published a detailed industry analysis of the Medical Electronics Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
Insights and Analysis of the Medical Electronics Market (2023-2028)
The Global Medical Electronics market is projected to grow at a CAGR of around 7% during the forecast period, i.e., 2023-28.
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What is driving the Medical Electronics Market?
Rising Healthcare Expenditures to Influence the Growth – Many Countries across the globe such as US, Germany, France, Japan, etc., had high healthcare spending during the past few years. As per Centre for Disease Control and Prevention, the healthcare expenditure of the US reached approximately USD3,453 billion in 2019 from USD2,658 billion. Along with this, Germany has highest level of current healthcare expenditure among European Union (EU) Members valued at approximately USD493 billion in 2020, followed by France which healthcare expenditure of almost USD320 billion. Moreover, the growing investment in the healthcare industry by the countries such as the US, Germany, Japan, etc., has increased the number of medical facilities owing to which the demand for medical electronic has risen, which consequently is driving the demand for medical electronic components such as sensors, microcontrollers, and power supplies.
As healthcare expenditure is increasing, focus on improving patient outcomes is also surging and medical devices play a critical role in providing these solutions, and the demand for these devices is expected to increase in the coming years which subsequently would support the growth of the medical electronics component market.
What segments define the Medical Electronics Market from 2023 to 2028? How do these segments contribute to market dynamics and growth?
By Device Type
(Insulin Pumps for Diabetes Monitoring, Blood Pressure Monitors, Heart Rate Monitors, ECG Monitors (Holters), Respiratory Therapy Management, Scanners (Computer Tomography), MRI, Ultrasound, X-Ray, Hemodialysis and Peritoneal Dialysis Machines, Implantable Cardioverter Defibrillator, Rechargeable Wearable Device, Hearing Implants, Others (Sleep Monitors, Smart Bandage, etc.)),
By Component
(Sensors, Batteries, Memory Chips, Displays, Microprocessors/Microcontrollers),
By End-User Product
(Diagnostic Imaging Devices, Medical Implantable Devices, Ventilators and RGM Equipment, Other Devices (Patient Position Monitor, Coagulation monitors, etc.)),
By Medical Device Classification
(Class I, Class II, Class III),
By Region
(North America, South America, Europe, The Middle East and Africa)
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Who are the leading key players shaping the Medical Electronics Market landscape?
Analog Devices, Infineon Technologies AG, STMicroelectronics, NXP Semiconductors, Texas Instruments Inc., ON Semiconductor Corporation, Microchip Technology, Japan Semiconductor Corporation AMS, Renesas Electronics Corporation, Others
Questions Addressed in this Study
1.What factors are driving the Medical Electronics Market growth?
2.How is the Medical Electronics Market expected to grow over the next five years?
3.What are the key insights into the current trends in the Medical Electronics Market?
4.What is the current size of the Medical Electronics Market, and how is it projected to change in the future?
6.What is the future outlook for the Medical Electronics Market in terms of technological advancements and market expansion?
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Why MarkNtel Advisors?
MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
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