Dublin, Dec. 02, 2019 (GLOBE NEWSWIRE) -- The "Medical Electronics Market by Component (Sensors, MCUs/MPUs, Displays, Memory Devices, Batteries), Application (Patient Monitoring, Diagnostic Imaging, Medical Implants), Product (Invasive, Non-Invasive), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The medical electronics market was valued at USD 4.8 billion in 2018 and is projected to reach USD 6.6 billion by 2025; it is estimated to grow at a CAGR of 4.6% during the forecast period.
Medical electronics market anticipated to grow at CAGR of 4.6% from 2019 to 2025
The global medical electronics market exhibits a lucrative growth potential for the next several years. The major factors driving the growth of the medical electronics market are rising incidents of chronic diseases; increasing adoption of medical imaging, monitoring, and implantable devices; rising expenditure on healthcare across the world; increasing the contribution of public and private sectors' funding toward healthcare and a growing elderly population.
The market for sensors estimated to grow at the highest CAGR during the forecast period
Increasing demand for IoT-based medical devices, such as cardiac monitors, respiratory monitors, hemodynamic monitors, and implantable devices, is the major factor accelerating the medical sensor market growth. The market for medical sensors is propelled by substantial investments in R&D activities for the development of new advanced sensors, and the extensive uses of sensor technology in the diagnosis, prognostic treatments, and drug delivery.
The market for medical implants and endoscopy estimated to grow at highest CAGR during the forecast period
The increasing use of high-resolution technologies in medical electronics, such as 3D systems, capsule endoscopy, and miniaturized endoscopic systems, is expected to offer substantial growth opportunities during the forecast period. Medical implants are used in the case of heart failure, cardiac arrhythmia, ventricular tachycardia, valvular heart disease, angina pectoris, and atherosclerosis. Implants can be placed permanently, or they can be removed once they are no longer needed.
The market for invasive products estimated to grow at the highest CAGR during the forecast period
Factors accelerating the invasive product market growth include the rising demand for implantable cardioverter defibrillators, pacemakers, implantable loop recorders, and endoscopes and an increasing number of training and awareness programs across the world to present the benefits of invasive devices. Technological advancements and breakthroughs in the field of endoscopy are expected to propel the growth of this segment during the forecast period.
Medical electronics market in the Asia Pacific to grow at the highest CAGR between 2019 and 2025
Major factors driving the medical electronics market in the APAC are the rapidly growing population and improving healthcare infrastructure in developing countries such as India and China. Increasing aging population and strong government support to provide improved healthcare services by the government of China and India are other factors contributing to the growth of the medical electronics market in the Asia Pacific. The government in APAC countries such as Australia, China, and India have invested heavily in the healthcare infrastructure and the provision of basic health insurance for all of its citizens. Moreover, an increase in discretionary income and a population that is aging faster are the other crucial factors propelling the medical electronics market in the Asia Pacific region.
Competitive Landscape
Key players operating in the medical electronics market are Analog Devices (US), Texas Instrument (US), TE Connectivity (Switzerland), Medtronics Plc (Ireland), ST Microelectronics (Switzerland), NXP Semiconductors (Netherlands), (US), Maxim Integrated Products (US), ON Semiconductor (US), Renesas Electronics Corporation (Japan), Microchip Technology (US), Tekscan, (US), Monebo (US), Cirtec Medical (US), First Sensor (Germany), Sensirion (Switzerland), Innovative Sensor Technology (Switzerland), Keller America (US), and Merit Medical Systems (US).
These players adopt various strategies, such as product developments, mergers, partnerships, collaborations, and expansions, to cater to customer demands.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Medical Electronics Market Growth (2019-2025)
4.2 Medical Electronics Market, By Component
4.3 Medical Electronics Market, By Product Type
4.4 Medical Electronics Market, By Application
4.5 Medical Electronics Market In APAC, By Component & Country
5 Market Overview
5.1 Market Dynamics
5.1.1 Drivers
5.1.1.1 Aging Population and Increasing Life Expectancy Throughout the World
5.1.1.2 Rising Healthcare Spending and Ever-Changing Healthcare Landscape
5.1.1.3 Increasing Adoption of Iot-Based Smart Medical Devices
5.1.1.4 Escalating Demand for Portable Medical Devices and Wearable Electronics
5.1.1.5 Growing Use of Radiation Therapy in Diagnosis and Treatment of Diseases
5.1.2 Restraints
5.1.2.1 Designing Compatible Medical Electronics
5.1.2.2 High Maintenance and Refurbishment Costs of Medical Electronics
5.1.3 Opportunities
5.1.3.1 Developing Countries to Offer Significant Growth Opportunity
5.1.3.2 Advances in Sensors and Digital Technologies to Create New Opportunities
5.1.4 Challenges
5.1.4.1 Stringent Regulatory Processes and Increased Testing Requirements for Product Approval
5.1.4.2 Cybersecurity Risks Posed by Proliferation of Connected Medical Devices
5.1.5 Regulatory Trends for Medical Electronics in Different Regions
5.1.5.1 North America
5.1.5.1.1 US
5.1.5.1.2 Canada
5.1.5.2 Europe
5.1.5.3 APAC
5.1.5.3.1 Japan
5.1.5.3.2 China
6 Industry Trends
6.1 Value Chain Analysis
6.2 Key Industry Trends
6.2.1 IoT-Based Medical Devices
6.2.2 Advent of AI-Based Smart Medical Devices
7 Medical Electronics Market, By Component
7.1 Introduction
7.2 Sensors
7.3 Batteries
7.4 Memory Devices
7.5 Displays
7.6 Microprocessors/Microcontrollers
8 Medical Electronics Market, by Product Type
8.1 Introduction
8.2 Non-Invasive Products
8.3 Invasive Products
9 Medical Electronics Market, by Application
9.1 Introduction
9.2 Diagnostic Radiology
9.3 Patient Monitoring
9.4 Medical Implants and Endoscopy
10 Geographic Analysis
10.1 Introduction
10.2 Americas
10.3 Europe
10.4 Asia-Pacific
10.5 Rest of the World (RoW)
11 Competitive Landscape
11.1 Introduction
11.2 Market Ranking Analysis for Medical Electronics Market, 2018
11.3 Competitive Situations & Trends
11.4 Competitive Leadership Mapping, 2018
11.4.1 Visionary Leaders
11.4.2 Dynamic Differentiators
11.4.3 Innovators
11.4.4 Emerging Companies
11.5 Competitive Benchmarking
11.5.1 Strength of Product Portfolio (25 Players)
11.5.2 Business Strategies Excellence (25 Players)
11.6 Recent Developments
11.6.1 Product Launches
11.6.2 Agreements, Partnerships, and Contracts/Collaborations
11.6.3 Mergers & Acquisitions
12 Company Profiles
(Business Overview, Products Offered, Recent Developments, SWOT Analysis)
12.1 Key Players
12.1.1 Analog Devices
12.1.2 Texas Instruments
12.1.3 TE Connectivity
12.1.4 Medtronics PLC
12.1.5 STMicroelectronics
For more information about this report visit https://www.researchandmarkets.com/r/8yfvc3
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.