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Medical Electronics Market Size, By Product (Therapeutics [Pacemakers, Implantable Cardioverter-Defibrillators, Neurostimulation Devices, Surgical Robots, Respiratory Care Devices], Diagnostics [Patient Monitoring Devices, PET-CT Devices, MRI Scanners, Ultrasound Devices, X-rays Devices, CT Scanners]), By End Use (Hospital, Ambulatory Surgical Centers, Clinics), Regional Outlook, Industry Analysis Report, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032

  • Report ID: GMI284
  • Published Date: Feb 2023
  • Report Format: PDF

Industry Statistics

Medical Electronics Market size was valued at USD 154.5 billion in 2022. The industry is anticipated to register over 6.5% CAGR through 2023-2032, due to the rapid introduction of advanced equipment for cardiovascular disease treatment.

Medical Electronics Market

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As a specialized discipline, medical electronics integrate engineering with clinical practice and biomedical sciences. Electronic device miniaturization trends are leading to the development of advanced medical electronics for use in the monitoring of physiological variables. To enhance the accuracy and efficacy of treatment and diagnostic procedures, innovative devices have been introduced.

The introduction of effective cardiovascular disease treatment devices, alongside the increased funding for healthcare R&D projects, will create lucrative growth prospects for medical electronic system developers. To ensure adequate safety, regulatory agencies and organizations have developed strict guidelines for the manufacturing of oxygen concentrators and other equipment. This strict regulatory landscape and the lack of skilled healthcare professionals for chronic disease treatment may, however, impeded industry expansion to some extent over the forecast period.

Growing elderly population prone to chronic diseases to drive sales of therapeutic medical electronics

Global Medical Electronics Market Share By Product

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Based on the product, the medical electronics market value from the therapeutics segment exceeded USD 69 billion in 2022, on account of the increasing elderly population susceptible to chronic infectious diseases. According to data from the WHO, by 2030, 1 in 6 people will be aged 60 years or above worldwide. The requirement for neurostimulation devices, pacemakers, and respiratory devices will therefore accelerate. In addition, the integration of artificial intelligence and other advanced technologies in medical devices will boost the production of therapeutic medical electronics.

Clinics to emerge as key end-user of medical electronics to deliver advanced therapeutic services


Authors: Rupali Swain, Subodh Kharad

Frequently Asked Questions (FAQ) :

Global market for medical electronics was valued at USD 154.5 billion in 2022 and will register over 6.5% CAGR through 2023-2032, due to the introduction of advanced equipment for cardiovascular disease treatment.

Clinics end-use segment is set to be valued at over USD 45.5 billion by 2032, considering the high preference for cost-effective and innovative electronic systems.

North America medical electronics market is expected to be valued at more than USD 112 billion by 2032, given the mounting healthcare expenditure and the high chronic disease burden.

Key participants in the market include Toshiba Medical Systems Corporation, Boston Scientific Corporation, Medtronic, Abbott Laboratories, Koninklijke Philips N.V., Samsung Electronics Co. Ltd., and Siemens Healthineers AG, among others

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 14
  • Tables & Figures: 716
  • Countries covered: 32
  • Pages: 440

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