Medical Electronic Market

Medical Electronic Market Size, Share, Trends,
Demand and Growth Forecast to 2023
Medical electronic refer to a certain class of electronic instruments
and equipments used particularly for medical applications such
as diagnosis, research, therapy, anaesthesia control, surgery and
cardiac control. Medical electronic devices are widely use in the healthrelated
diagnosis by merging biology and medicine science with electronics
theories, principal and practices.
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The global medical electronic market is driven by the number of
factors. Increasing global population and growing lifestyle diseases has led
to requirement of advanced and fast healthcare services which in turn
increases adoption of electronics in the treatment procedure. Increasing
urbanization and improving healthcare infrastructure, particularly in the
developing countries of Asia Pacific, is expected to drive the growth of the
market in double digit during the forecasted period. The medical electronics
in the developed countries is driven by the growing adoption of radiation
therapy in disease treatment & diagnosis.
The growing medical tourism particularly in developing countries of Asia
Pacific, coupled with increasing adoption of wearable electronics for health
and fitness in healthcare industry, is expected to provide new market
opportunities for advanced and sophisticated medical electronics devices
during the forecasted period. However, the stringent government norms
and standards coupled with high maintenance and refurbishment cost of
these devices are acting as major challenges for the medical electronics
market.
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North America is by far the largest market of medical electronics followed
by Europe and Asia Pacific. About 15% of the total GDP (gross domestic
product) of North America comprises of the healthcare and pharmaceutical
industry. Asia-Pacific is the fasted growing market of medical electronics
and the market is expected to grow in double digit during the forecasted
period, attributed to the surging urbanisation in developing countries such
as India and China. Moreover, the growing per capita income and rising

demand for advanced healthcare services in this region is boosting the
market of medical electronics.
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Some of the major competitors in the global medical electronics market are
Analog Devices Inc., Philips N.V., Siemens Ag, Texas Instruments,
Tekscan, Inc., Renesas Electronics Corporation, On Semiconductor
Corporation, GE Healthcare, Fairchild Semiconductor International, Inc.,
Cypress Semiconductor Corporation, STMicroelectronics N.V. and Maxim
Integrated.