The medical electronics global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Medical Electronics Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The medical electronics market size has grown rapidly in recent years. It will grow from $97.47 billion in 2023 to $111.27 billion in 2024 at a compound annual growth rate (CAGR) of 14.2%. The growth in the historic period can be attributed to aging population, chronic disease management, regulatory compliance, personalized medicine, global health preparedness.
The medical electronics market size is expected to see rapid growth in the next few years. It will grow to $193.18 billion in 2028 at a compound annual growth rate (CAGR) of 14.8%. The growth in the forecast period can be attributed to rise in healthcare expenditure, patient-centric care, telehealth services, digital health revolution, cost-efficiency. Major trends in the forecast period include miniaturization and wearable devices, artificial intelligence (ai) and machine learning, internet of things (iot)-connected devices, sustainable materials, patient engagement tools.
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Scope Of Medical Electronics Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Medical Electronics Market Overview
Market Drivers –
The rise in the geriatric population and increasing life expectancy are expected to propel the growth of the medical electronics market going forward. The geriatric population refers to the elderly population aged 65 and above. Medical electronics help the geriatric population by supporting their health care needs to live longer, healthier lives. For instance, in October 2021, according to the report shared by the World Health Organization, a Switzerland-based specialised agency of the United Nations, the share of the population aged 60 years and over increased from 1 billion in 2020 to 1.4 billion and by 2050, the world’s population of aged people 60 years and older will double (2.1 billion). The population aged 80 years or older is expected to triple between 2020 and 2050 to reach 426 million. Therefore, the rise in the geriatric population and the growing probability of life extension are driving the growth of the medical electronics market.
The medical electronics market covered in this report is segmented –
1) By Component: Sensors, Batteries, Displays, MPUs or MCUs, Memory Chips
2) By Device Classification: Class I, Class II, Class III
3) By Medical Procedure: Non-Invasive, Minimally Invasive, Invasive
4) By Application: Medical Imaging, Clinical, Diagnostic, and Therapeutics, Patient Monitoring, Flow Measurement, Cardiology, Other Applications
5) By End User Products: Diagnostic and Imaging Devices, Patient Monitoring Devices, Medical Implantable Devices, Ventilators and RGM Equipment
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Regional Insights –
North America will be the largest region in the medical electronics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical electronics market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the medical electronics market include Analog Devices Inc., Texas Instruments Incorporated, STMicroelectronics, Mouser Electronics, Cypress Semiconductor Corporation, Semiconductor Components Industries LLC, Digi-Key Electronics, Tekscan Inc., First Sensor AG, General Electric Company, Vucomp Inc., Hitachi High Technologies Corporation, Hologic Inc., TE Connectivity Ltd., Boston Scientific Corporation, Abbott Laboratories, Becton Dickinson and Company (BD), Stryker Corporation, Cardinal Health Inc., Koninklijke Philips N.V., EssilorLuxottica SA, Danaher Corporation, Johnson & Johnson., Novartis AG., Medtronic plc, Baxter International
Table of Contents
1. Executive Summary
2. Medical Electronics Market Characteristics
3. Medical Electronics Market Trends And Strategies
4. Medical Electronics Market – Macro Economic Scenario
5. Global Medical Electronics Market Size and Growth
…
31. Global Medical Electronics Market Competitive Benchmarking
32. Global Medical Electronics Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Medical Electronics Market
34. Medical Electronics Market Future Outlook and Potential Analysis
35. Appendix
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