Global medical electronics market was
valued over $ 73 billion in 2018 and is projected to grow at a CAGR of around 8%
to reach $ 113 billion by 2024 on account of increasing demand for advanced
healthcare facilities and growing geriatric population across the globe. Medical
electronics refer to those electrical equipment and devices which are used for
medical purposes such as examination, diagnosis, treatment and assistance. Rising
healthcare awareness and technological advancements are further expected to
boost the growth of global medical electronics market. Moreover, rising number
of lifestyle diseases and favorable regulatory policies for the expansion of
medical electronics industry are further anticipated to positively influence
global medical electronics market through 2024.
Global medical electronics market can
be segmented based on product type and end-user. Based on the product type, the
market can be bifurcated into diagnostics and therapeutic. Diagnostics product
type includes patient monitoring devices, PET/CT devices, MRI scanners,
ultrasound devices, X-ray devices, CT Scanners and others. Diagnostics segment acquires
the majority share in the market owing to increasing awareness regarding
benefits of early diagnosis. Therapeutic segment is anticipated to
witness the fastest growth in global medical electronics market on account of
increasing prevalence of cardiovascular and neurological diseases. In terms of
end user, the market can be segmented into hospital, ambulatory surgical
centers, clinics and others. Hospital segment acquired the majority share in global
medical electronics market as the hospitals covered under the public healthcare
system are equipped with advanced medical devices, which is promoting the
growth of medical electronics in this sector.
Regionally, the market for medical
electronics is gaining traction and expanding to various regions including,
North America, Europe, Asia-Pacific, South America and Middle East & Africa.
North America is leading global medical electronics market owing to improved
healthcare infrastructure and surging demand for medical electronics in the
region.
The major players operating
in global medical electronics market include Johnson & Johnson Services,
Inc., GE Healthcare Pvt. Ltd, Philips Healthcare Pvt. Ltd., Siemens AG, Medtronic
Plc., Baxter International Inc., etc. Major companies are developing
advanced technologies and launching new products in order to stay competitive
in the market. Other competitive strategies include mergers & acquisitions
and new product developments. GE Healthcare and Wipro inked partnership in
order to attain effective management, resource mobilization, and higher growth.
Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020–2024
Objective of the
Study:
- To analyze and forecast the market size of
global medical electronics market.
- To classify and forecast global medical
electronics market based on product type, end-user and regional
distribution.
- To identify drivers and challenges for global medical
electronics market.
- To examine competitive developments such as
expansions, new product launches, mergers & acquisitions, etc., in
global medical electronics market.
- To conduct pricing analysis for global medical
electronics market.
- To identify and analyze the profile of leading
players operating in the global medical electronics market.
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Some of the leading players in global medical
electronics market are Johnson & Johnson Services, Inc., GE Healthcare Pvt.
Ltd, Philips Healthcare Pvt. Ltd., Siemens AG, Medtronic Plc., Baxter
International Inc., etc.
TechSci Research performed both primary as well as
exhaustive secondary research for this study. Initially, TechSci Research
sourced a list of manufacturers across the globe. Subsequently, TechSci
Research conducted primary research surveys with the identified companies.
While interviewing, the respondents were also enquired about their competitors.
Through this technique, TechSci Research could include the manufacturers which
could not be identified due to the limitations of secondary research. TechSci
Research analyzed the manufacturers, distribution channels and presence of all
major players across the globe.
TechSci Research calculated the market size of global medical electronics market using a bottom-up approach, wherein data for various
end-user segments was recorded and forecast for the future years. TechSci
Research sourced these values from the industry experts and company
representatives and externally validated through analyzing historical data of
these product types and applications for getting an appropriate, overall market
size. Various secondary sources such as company websites, news articles, press
releases, company annual reports, investor presentations and financial reports
were also studied by TechSci Research.
Key Target Audience:
- Original device
manufacturers (ODMs)
- Government bodies such as
regulating authorities and policy makers
- Organizations, forums and
alliances related to medical electronics
- Market research and
consulting firms
The study is useful in providing answers
to several critical questions that are important for the industry stakeholders
such as manufacturers and partners, end users, etc.,
besides allowing them in strategizing investments and capitalizing on market
opportunities.
Report Scope:
In this report, global medical
electronics market has been segmented into following categories, in
addition to the industry trends which have also been detailed below:
- Market, By Product Type:
- Diagnostics
- Patient Monitoring Devices
- PET/CT Devices
- MRI Scanners
- Ultrasound Devices
- X-rays Devices
- CT Scanners
- Others (Hemodynamic Monitors, Cardiac Monitors, etc.)
- Therapeutic
- Pacemaker
- Implantable Cardioverter-Defibrillators
- Implantable Loop Recorders
- Spinal Cord Stimulators
- Surgical Robots
- Respiratory Care Devices
- Others (Endoscopes, Neurostimulation devices, etc.)
- Market, By End-User:
- Hospital
- Ambulatory surgical centers
- Clinics
- Others
- Market, By Region:
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Iran
Competitive
Landscape
Company Profiles: Detailed analysis of the
major companies present in global medical electronics market.
Available
Customizations:
With the given market data,
TechSci Research offers customizations according the company’s specific needs.
The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market
players (up to five).
In case you don’t find what
you are looking for, please get in touch with our custom research team at sales@techsciresearch.com