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Medical Electronics Market Expanding Growth at a CAGR of 11.8% from 2021 to 2030

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The global medical electronics market size is projected to reach over US$ 248.4 billion by 2030 from at US$ 81.6 billion in 2020, expanding growth at a CAGR of 11.8% from 2021 to 2030.

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Growth Factors

The rising prevalence of various chronic diseases, growing geriatric population, rising number of road traffic accidents, and rising number of hospital admissions across the globe is augmenting the demand for the medical electronics across various healthcare units. The proliferation of digital technologies coupled with the rising adoption of the medical electronic devices to offer quick and enhanced patient care diagnostic and therapeutic services is propelling the growth of the global medical electronics market. Moreover, the rising demand for the minimal-invasive surgeries and non-invasive diagnostic devices are expected to drive the demand for the medical electronics across the globe.

Report Highlights

  • Based on the product, the diagnostics is estimated to be the most opportunistic segment during the forecast period. The rising awareness among the population regarding the benefits of early detection of the various chronic diseases is augmenting the demand for the various diagnostic devices. Moreover, the growing geriatric population across the globe is significantly fueling the patient monitoring diagnostic devices as they are more susceptible to the chronic diseases.
  • Based on the application, the hospitals segment dominated the market, accounting for over 45% of the market share in 2020. The rising government and private sector investments in the development of multi-specialty hospitals and smart hospitals is surging the adoption of the latest and enhanced medical electronic devices in the hospitals. Moreover, the increased presence of various government and private hospitals across the globe is fueling the growth of this segment significantly.
  • Asia Pacific is estimated to be the most opportunistic market during the forecast period. The rising government and corporate investments in the development of smart and advanced healthcare units in order to serve the huge population in Asia Pacific region is expected to boost the growth of the market.
  • North America dominated the global medical electronics market, garnering a market share of around 45% in 2020. North America is characterized by the increased healthcare expenditure and the presence strong healthcare infrastructure.

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OBJECTIVES OF THE STUDY

  • To analyze and forecast the Medical Electronics market, in terms of value and volume
  • To provide information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
  • To define, segment, and project the size of the global Medical Electronics market on the product type, end-use and other segments
  • To project the size of the market, with respect to five main regions, namely, North America, Europe, Asia Pacific (APAC), the Middle East & Africa, and South America, with their key countries
  • To strategically analyze micromarkets with respect to individual growth trends, growth prospects, and their contribution to the total market
  • To analyze opportunities in the market for stakeholders and provide a competitive landscape of the market leaders
  • To strategically profile key players and comprehensively analyze their core competencies
  • To track and analyze research & development (R&D) and competitive developments such as joint ventures, mergers & acquisitions, and new product developments in the Medical Electronics market

Research Methodology

  • Market estimate for 2021
  • Average selling price (ASP) per region for specific product type
  • Filtrations and assortment of gathered data, to estimate the base year (2021) market size for the country
  • Gathering data from company websites, annual reports, white papers, financial reports, broker reports, investor presentations, and SEC filings
  • National government documents, statistical databases
  • News articles, press releases, and webcasts specific to companies operating in the market
  • Country wise analysis through internal and external proprietary databases, and relevant patent and regulatory databases
  • Determination of market penetration by country

Major Players Covered in this Report

The updated market research report on Medical Electronics market allows the buyers and manufacturers to stay updated with the current market trends, ongoing happenings, and a clear picture on the market scenario. List of key players included in the research report will help the market vendors to know their market position and plan more operational strategies to gain topmost position among other players. The report offers crucial company information on each market player, such as company profile, financial information, and recently adopted growth strategies. This will help other existing players and the new entrants to plan strategies and establish their presence in the market.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

  • Company Overview
  • Company Market Share/Positioning Analysis
  • Product Offerings
  • Financial Performance
  • Recent Initiatives
  • Key Strategies Adopted by Players
  • Vendor Landscape
  • List of Suppliers
  • List of Buyers
The major players operating in the medical electronics market are Renesas Electronics Corporation, Siemens AG, ON Semiconductor Corporation, GE Healthcare, Freescale Semiconductor Inc., Texas Instruments Incorporated, STMicroelectronics N.V., Philips Healthcare Pvt. Ltd., Tekscan, Inc., NXP Semiconductors N.V..

Segments Covered in the Report

By Product

  • Therapeutics
    • Implantable Medical Devices
    • Surgical Robots
    • Pacemakers
    • Neuro stimulation Devices
    • Respiratory Care Devices
  • Diagnostics
    • CT/PET Devices
    • Patient Monitoring Devices
    • Ultrasound Devices
    • X-Ray Devices
    • MRI Scanners
    • CT Scanners
    • Others
  • Others

By Application

  • Hospitals
  • Ambulatory Centers
  • Homecare
  • Others

By Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Rest of the World

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