Global Medical Electronics Market - 5.4% CAGR for 2016-2022

Oct 03, 2016, 06:00 ET from RnR Market Research

PUNE, India, October 3, 2016 /PRNewswire/ --

The global medical electronics market is expected to reach $4.41 billion by 2022, growing at a CAGR of 5.4% between 2016 and 2022 with North America holding the largest market shares while monitoring application is expected to grow at the highest rate during the forecast period.

Complete report on medical electronics market spread across 209 pages, profiling 12 companies and supported with 99 tables and 103 figures is now available at .

The medical electronics market is expected to grow rapidly owing to factors such as rising ageing population and growing lifestyle diseases; rising demand for personalized, easy to use, and advanced healthcare devices and increasing adoption of wearable electronics. The major restraint that acts as barrier for the growth of medical electronics market includes stringent regulatory process for product approval and high maintenance and refurbishment costs.

The medical electronics market is highly affected by the legislation and initiatives such as increasing clinical trial requirements for new products from the governments and regulatory authorities. Over the years, the medical device approval guidelines and regulations across the world have become more stringent to minimize errors associated with medical devices.

The medical electronics market has been segmented on the basis of application into diagnostics and monitoring, Monitoring devices market is expected to grow at the highest rate because of the increasing use of patient monitoring devices in outpatient care departments, ambulatory care centers, and home care settings. Factors such as increasing market penetration rates of the portable medical devices which are used in home healthcare establishments and an increasing trend towards remote patient monitoring are also expected to contribute to the growth of the medical electronics market for patient monitoring applications in the coming years.

Among all the geographic regions, North America is considered to be the largest market for medical electronics. The market in North America for medical electronics is driven by various factors such as improved health care infrastructure and increasing demand for medical electronics in the region. In addition, technological advancements in medical device technology have propelled the growth of the market in North America. Moreover, the rising demand for medical electronics in home treatment and the presence of well-structured distribution channels in the region are aiding market growth.

The market in APAC is expected to grow at the highest rate during the forecast. The greater utilization of medical devices in various clinical diagnosis, monitoring and therapeutic procedures is expected to drive the adoption of medical electronics among healthcare providers in the APAC region.

The key players in the medical electronics market are Philips Healthcare (Netherlands), Siemens Healthcare  (Germany), Medtronic Plc. (Ireland), Analog Devices, Inc. (U.S.), NXP Semiconductors N.V. (Netherlands), STMicroelectronics N.V. (Switzerland), GE Healthcare, Inc. (U.S),and Texas Instruments (U.S). Order a copy of Medical Electronics Market by Component (Sensor, Battery, Memory Device, Display, and Microcontrollers), Application (Diagnosis and Monitoring), Product (Invasive, and Non Invasive), and by Geography - Global Forecast to 2022 research report at .

In the process of determining and verifying, medical electronics market for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (50%), Tier 2 (33%) and Tier 3 (17%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C Level (34%), Directors (33%) and others (33%) from various key organizations operating in the global medical electronics market. The primary interviews were conducted worldwide covering regions such as North America (50%), Europe (33%) and Asia-Pacific (17%).

On a related note, another research on Refurbished Medical Equipment Market Global Forecast to 2021 says, the market is expected to reach USD 11.91 billion by 2021, at a CAGR of 12.7% from 2016 to 2021. North America (comprising the U.S. and Canada) is expected to command the largest share of the refurbished medical equipment market in 2016, followed by Europe. Companies like GE Healthcare, Philips Healthcare and Siemens Healthineers, Agito Medical A/S, Block Imaging International, Inc., DRE Medical, Inc., Radiology Oncology Systems, Inc., Soma Technology, Inc., Everx Pvt Ltd. and Integrity Medical Systems, Inc. have been profiled in this 208 pages research report available at .

Explore more reports on Information Technology & Telecommunication market at .

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