The global medical electronics market is irrefutably one of the most lucrative business spheres in the healthcare domain. Combining the power of technology in medical devices, companies look forward to making medical electronic devices a part of mainstream healthcare in the next few years. Indeed, efforts pertaining to the same are already underway – in 2017, eMedApps partnered with GE Healthcare in order to provide users with a highly innovative, efficient contingency solution called CareFinity.
The deal between eMedApps and GE is merely one such initiative undertaken by industry contenders to bring about novel, innovative devices to the fold. In a world riddled with consistent healthcare issues, technology has played a major role in simplifying medical care-related decisions. Rising awareness pertaining to the significance of using advanced medical products in techniques such as minimally invasive surgeries will push medical electronics market share.
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Apart from the fact that they involve lesser complications, one of the main reasons for the increasing demand of minimally invasive surgeries is the rising geriatric population worldwide. According to United Nations, the elderly populace worldwide, in 2017, stood at 962 million. With most of the geriatric masses suffering from chronic ailments, the demand for minimally invasive surgeries has substantially risen, creating a favorable scenario for the growth of medical electronics industry share.
Medical electronic devices are widely used across hospitals, clinics, and ambulatory surgical centers. However, hospitals account for a chunk of the market share here, given that regulatory bodies in various nations have been undertaking cost containing measures to ensure affordable healthcare treatment for one and all. Estimates claim that hospital segment is anticipated to record a CAGR of 13% through 2025.
Technological advancements play a major role in pushing medical electronics industry outlook. The implementation of microtechnology and nanotechnology in products such as diagnostic chips (popularly used for remote monitoring of organs such as heart, liver, brain, lungs, and kidneys) will have a positive influence on medical electronics industry dynamics. Prominent market vendors such as Fujifilm Medical System, Abbott, GE Healthcare, Boston Scientific, Hitachi High Technologies Corporation, Carestream Health, Toshiba Corp., Maxim Integrated, and Samsung Electronics have also been forging lucrative partnerships in order to collaborate and bring about enhanced medical electronic products.
North America medical electronics market held more than 44.9% of the total global revenue share in 2018 owing to an amped-up healthcare spending, hiked household incomes, and consistent adoption of advanced medical electronic equipment in the region. The presence of some of the prominent manufacturing firms focused on rigorous product innovations will boost the regional landscape.
Solution providers are consistently involved in the development of novel medical machinery along with incorporating various strategies to expand their offerings and attract numerous growth opportunities. Carestream Health, Maxim Integrated, Fujifilm Medical system. Toshiba Corporation, Hitachi High Technologies Corporation, Abbott, Boston scientific, Samsung electronics and, GE Healthcare are a few of the leading medical electronics companies.
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Partial Chapter of the Table of Content
TABLE 1 Medical electronics industry 3600 synopsis, 2014 – 2025
TABLE 2 Medical electronics market, 2014-2025 (USD Million, 000’ Units)
TABLE 3 Medical electronics market, by product, 2014-2025 (USD Million, 000’ Units)
TABLE 4 Medical electronics market, by end-use 2014-2025 (USD Million, 000’ Units)
TABLE 5 Medical electronics market, by region, 2014-2025 (USD Million, 000’ Units)
TABLE 6 Industry impact forces
TABLE 7 Therapeutic market size, by region, 2014-2025 (USD Million, 000’ Units)
TABLE 8 Pacemakers market size, by region, 2014-2025 (USD Million, 000’ Units)
TABLE 9 Implantable Cardioverter-Defibrillators market size, by region, 2014-2025 (USD Million, 000’ Units)
TABLE 10 Neurostimulation devices market size, by region, 2014-2025 (USD Million, 000’ Units)
TABLE 11 Surgical Robots market size, by region, 2014-2025 (USD Million, 000’ Units)
Charts & Figures
FIG. 1 Industry segmentation
FIG. 2 Medical electronics market, 2014 - 2025 (USD Million)
FIG. 3 Growth potential analysis, by product
FIG. 4 Growth potential analysis, by end-use
FIG. 5 Porter’s analysis
FIG. 6 Strategy dashboard, 2017
FIG. 7 PESTEL analysis
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