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.
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summary of this report @ 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
o
MRI Equipment
o
Computed Tomography (CT)
o
Nuclear imaging equipment
o
X-ray Devices
o
Ultrasound Systems
·
Therapeutics
o
Cardiac Rhythm Management (CRM)
o
Dialysis
o
Continuous Positive Airway Pressure (CPAP)
o
Neuromodulation
o
Others
·
Patient monitoring
·
Home Healthcare/Handheld products
Medical Electronics Market Regional Outlook (Market Revenue in USD
Million, 2013 - 2024)
·
North America
o
U.S.
o
Canada
·
Europe
o
UK
o
Germany
o
France
·
Asia Pacific
o
Japan
o
China
o
India
·
Latin America
o
Brazil
o
Mexico
·
Middle East and Africa
o
South Africa
For press release of this report - http://www.grandviewresearch.com/press-release/global-medical-electronics-market
About Grand View
Research
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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, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
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