Market Overview: Medical Electronics Market
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Medical Electronics Market Insights 2023-28
The Medical Electronics Market is estimated to grow at a CAGR of around 7% during the forecast period 2023-28.
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Driving Innovation: Exploring the Medical Electronics Market and its Key Drivers
Global Medical Electronics Market Key Driver: Rising Healthcare Expenditures to Influence the Growth Many Countries across the globe such as US, Germany, France, Japan, etc., had high healthcare spending during the past few years. As per Centre for Disease Control and Prevention, the healthcare expenditure of the US reached approximately USD3,453 billion in 2019 from USD2,658 billion. Along with this, Germany has highest level of current healthcare expenditure among European Union (EU) Members valued at approximately USD493 billion in 2020, followed by France which healthcare expenditure of almost USD320 billion. Moreover, the growing investment in the healthcare industry by the countries such as the US, Germany, Japan, etc., has increased the number of medical facilities owing to which the demand for medical electronic has risen, which consequently is driving the demand for medical electronic components such as sensors, microcontrollers, and power supplies.
As healthcare expenditure is increasing, focus on improving patient outcomes is also surging and medical devices play a critical role in providing these solutions, and the demand for these devices is expected to increase in the coming years which subsequently would support the growth of the medical electronics component market.
Top Players in the Medical Electronics Market:
Analog Devices, Infineon Technologies AG, STMicroelectronics, NXP Semiconductors, Texas Instruments Inc., ON Semiconductor Corporation, Microchip Technology, Japan Semiconductor Corporation AMS, Renesas Electronics Corporation, Others
Medical Electronics Industry Recent Development:
- 2023: Analog Devices, Inc. introduced LTM8080, a super low noise dual output DC/DC μModule regulator with patented silicon, layout, and packaging innovations. It is a power management module that operates with an input voltage of up to 40 volts. The module also includes two distinct low dropouts (LDO) regulators that operate quietly and with minimal voltage loss.
- 2023: Onsemi and Ampt LLC, a DC optimizer company for large-scale photovoltaic (PV) solar & energy storage systems, today announced their collaboration to meet the high demand for DC string optimizers.
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Segmentation Analysis of Medical Electronics Market
Medical Electronics Market exactly assesses and highlights significant trends and influencing factors within each segment. The comprehensive analysis extends its predictions for the period spanning 2023-28, focusing on the national landscape. The market is exactly categorized based on this analysis, providing valuable insights into its various facets.
By Component
-Sensors,
–Temperature Sensors,
–Pressure Sensors,
–Blood Glucose Sensors,
–Blood Oxygen Sensors,
–ECG Sensors,
–Image Sensors,
–Motion Sensors,
–Heart rate Sensors,
–Others (Position Sensors, Piezo Film Sensors, etc.),
-Batteries,
–Lithium-ion batteries,
–Nickel-metal hydride batteries,
–Zinc-carbon batteries,
–Others (Nickel-cadmium batteries, Silver-zinc batteries, Alkaline batteries, etc.),
- Sensors have showcased significant growth due to their increased integration into medical devices.
By End-User Product
-Diagnostic Imaging Devices
–MRI Scanners
–X-Ray Scanners
–CT Scanners
–Ultrasound Scanners
–Nuclear Imaging Systems
—PET Scanners
—SPECT Scanners
–Endoscopy
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A Comprehensive Geographical Analysis:
By Region
-North America
-South America
-Europe
-The Middle East & Africa
-Asia-Pacific
- North American region has exhibited significant growth during the historical period in the Global Medical Electronics market
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MarkNtel Advisors is a leading market research company, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
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