Medical Electronics Market Size Worth $219 Billion By 2024: Grand View Research, Inc.
The global medical electronics market is expected to reach
USD 219.0 billion by 2024, according to a new report by Grand View Research.
Technological advancements have boosted the applications of electronics in the
fields of diagnostics, therapeutics, and wellness. Increasing geriatric
population coupled with sedentary lifestyle contributes to chronic
cardiovascular, gastrointestinal, and respiratory disorders.
Diagnostic applications of medical electronics are fueled
due to growing awareness about healthcare amongst people. Population in
developed countries opts for early diagnosis for effective treatment and cure.
Increasing adoption of newer technology in diagnostics is expected to upsurge
the market in future.
Aging population creates need for critical care of long
duration, thus increasing the demand for life-supporting devices, such as
ventilators and dialysis devices. Growing number of accidents and permanent
injuries also contribute to this upsurge. Improving healthcare facilities eases
the procedures of reimbursements and related medical procedures even in
developing countries.
Industry players are focused on the commercialization of new
technologies and integrated systems. In August 2016, Siemens launched a new
product, Sysmex CS-2500. It is a coagulation analyzer and has applications in
diagnostics.
Browse full research report on Managed Medical
Electronics Market: http://www.grandviewresearch.com/industry-analysis/medical-electronics-market
Further Key Findings from the Study Suggest:
- Rising
prevalence of chronic diseases, such as neurodegenerative and cardiac
diseases, creates a need for continuous patient monitoring. Constant
development of technologies such as real-time audio/video feed, wireless
communications, and remote patient monitoring proves to be a boon for
chronic patients, especially those who prefer to receive treatment at
home. All these factors are expected to act as a catalyst for the market
growth over the forecast period.
- The
largest application of medical electronics is in the field of diagnostics,
especially imaging. Increasing importance of early disease diagnosis is
promoting the growth of this segment. Magnetic resonance imaging is the
most common method used, owing to the growing neurological and
musculoskeletal disorders and the development of superconducting magnets.
- Ultrasound
is projected to be the fastest-growing segment of medical imaging, owing
to its applications in point-of-care and musculoskeletal diseases. Growing
birth rate also contributes to the usage of ultrasound. Rising awareness
coupled with government recommendations about periodic screening for
cancer also contributes to this growth.
- Considering
home healthcare medical electronics, device such as glucometer is used by
diabetic patients owing to the ease of use of the device, and
cost-effectiveness.
- The
emphasis on preventive measure and early diagnosis rather than on
treatment is driving the industry players to invest in remote, wireless,
and minimally invasive equipment. This is predicted to set the trend of
telehealth, self-monitoring, and home healthcare. In February 2016,
Medtronic launched its first remote monitoring pacemaker in Canada. The
data collected and interpreted is transmitted securely to the physician to
make efficient treatment decisions.
- North
America dominated the market owing to the presence of well-structured
healthcare and reimbursement systems. High prevalence of chronic lifestyle
diseases, growing awareness about the importance of early diagnosis, and
acceptance of new technology contributed to the market growth in this
region.
- Asia
pacific is expected to emerge as the fastest growing region during the forecast
period. The huge patient pool in Asia Pacific proves to be an attractive
opportunity for companies to market their products in this region.
Improving healthcare systems, high incidence rate of diseases and
accidents, and stabilizing economies aid the market growth.
- Some
key participants include EDDA technology, Inc., Philips healthcare,
FUJIFILM Medical Systems, Hitachi High Technologies Corporation, Toshiba
Medical Systems Corporation, McKesson Corporation, Vucomp, Hologic Inc.,
Siemens Healthcare and iCAD, Inc.
- The
current trend of investing in development of new technologies is expected
to benefit patients as well as practitioners. For instance, in March 2016,
Maxim Integrated launched its new heart rate monitor integrated with pulse
oximeter. This device helps in continuous monitoring and efficient
treatment of cardiovascular patients.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/medical-devices
Grand
View Research has segmented the medical electronics market by application:
Medical Electronics Market Application Outlook (Market
revenue in USD Million, 2013 - 2024)
- Imaging
- MRI
Equipment
- Computed
Tomography (CT)
- Nuclear
imaging equipment
- X-ray
Devices
- Ultrasound
Systems
- Therapeutics
- Cardiac
Rhythm Management (CRM)
- Dialysis
- Continuous
Positive Airway Pressure (CPAP)
- Neuromodulation
- Others
- Patient
monitoring
- Home
Healthcare/Handheld products
Medical Electronics Market Regional Outlook (Market
Revenue in USD Million, 2013 - 2024)
- North
America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Asia
Pacific
- Japan
- China
- India
- Latin
America
- Brazil
- Mexico
- Middle
East and Africa
- South
Africa
Access press release of this research
report by Grand View Research: http://www.grandviewresearch.com/press-release/global-medical-electronics-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research
and consulting company, registered in the State of California and headquartered
in San Francisco. The company provides syndicated research reports,
customized research reports, and consulting services. To help clients make
informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
For more information:
www.grandviewresearch.com
Comments
Post a Comment