Electronic devices are increasingly used for therapy, diagnosis, and
rehabilitation in the field of medicine. Electromechanical equipment and
medical electronics have become indispensable for providing better
services to patients. Medical electronics is a branch of electronics in
which medical equipment and instruments are used for medical
applications such as research, diagnosis, therapy, anesthesia control,
surgery, and cardiac control. Medical electronics engineering integrates
medicine and environmental science with engineering practices and
theories. Semiconductors have become an integral part of medical
electronics equipment for reducing the cost which is changing the
affordability of equipments. Medical electronic equipment are
indispensable for proving better services to patients in hospitals. In
medical electronics by using precise and sophisticated equipment,
medical science examines, cures and treats almost all the diseases.
Benefits associated with the use of medical electronic technologies
include remote health data availability, precise billing mechanism,
improvement in the quality of health care, increase in output accuracy,
easy to update patient records, and rise in the level of patient
experience.
Rapid advancement in IT and increasing health care consciousness has
accelerated the scope for medical electronics market. Advanced
technology in medical electronics include telehealth in intensive care
unit (ICU), emergency department (ED) and hospital ward and skilled
nursing facility (SNF). With the advent of digital stethoscopes, digital
X-ray systems and handheld smart phone-sized ultrasound systems,
conventional medical devices have evolved to aid medical electronics
market. Rapid advancement in health care consciousness and information
technology has accelerated the scope for medical electronics market.
Growth in medical electronics market is influencing various demographic
trends such as enhanced portability of complex monitoring and imaging
systems, increase in household medical electronics equipment, and
functional integration of applications and equipment in network and
wireless technology.
Rising geriatric population and increasing use of respiratory care
devices are fuelling the medical electronics market. Additionally,
factors such as demand for easy-to-use, personalized & advanced
healthcare devices, changing lifestyle, and rising adoption of wearable
electronics are expected to drive the medical electronics market.
However, issues regarding cybersecurity, where health care providers and
patients are subjected to security breaches and malware infections are
expected to hinder the market. Rising demand for better and improved
health care and developments in newer medical technologies for wireless
medical devices and its technology are expected boost the medical
electronics market. Moreover, factors such as increased market
penetration rate of portable medical devices, increasing trend of remote
patient monitoring, and high availability of electronic components such
as memory devices, display technologies and microcontrollers are
expected to create growth opportunities for medical electronics market.
With advancement in technology, newer medical electronics devices are
emerging in healthcare which is also expected to boost growth in medical
electronics market.
The global medical electronics market can be segmented based on
product type, application, component, and region. In terms of product
type, the market can be segmented into invasive and non-invasive. Based
on application, the market is classified into diagnosis, monitoring, and
treatment. In terms of component, the market is categorized into
sensors, batteries, memory devices, microcontrollers, and displays.
Based on geography the global medical electronics market is segmented
into North America, Asia Pacific, Middle-East & Africa (MEA), South
America, and Europe. North America is expected to dominate the market
during the forecast period owing to the increase in demand for medical
electronics and improved health care infrastructure.
Key players operating in the global medical electronics market are Texas Instruments Inc., GE Healthcare Pvt. Ltd, STMicroelectronics N.V., NXP Semiconductors N.V., Medtronic PLC., Cypress Semiconductor Corporation, Analog Devices, Inc., On Semiconductor Corporation, Siemens Healthcare Private Limited, and Philips Healthcare Pvt. Ltd.
Key players operating in the global medical electronics market are Texas Instruments Inc., GE Healthcare Pvt. Ltd, STMicroelectronics N.V., NXP Semiconductors N.V., Medtronic PLC., Cypress Semiconductor Corporation, Analog Devices, Inc., On Semiconductor Corporation, Siemens Healthcare Private Limited, and Philips Healthcare Pvt. Ltd.
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