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-ray Devices, CT Scanners]), By End Use (Hospital, Ambulatory Surgical Centers, Clinics) Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 – 2025

Industry Trends

Medical Electronics Market size exceeded USD 73.3 billion in 2018 and is anticipated to witness over 13% CAGR from 2019 to 2025. Growing preference for minimally invasive surgeries will foster the market growth during the forecast period.
 

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Adoption of medical electronic devices such as patient monitors and other diagnostic devices is specifically high in minimally invasive surgeries. Minimally invasive surgeries are safe, patient-friendly and cost-effective. As a result, these techniques are being adopted across various healthcare fortes that have positively impacted the demand for medical electronic devices. Moreover, regulations implied on the manufacturers of the medical electronic devices ensure superior quality of technologically upgraded medical devices that further raises its acceptance in surgical procedures escalating the market expansion in the coming years.
 

Technological advancements in medical electronic devices will trigger the market progression over the coming years. Key industry players constantly focus on integrating advanced technology within the devices that enables accurate and efficient diagnosis as well as treatment. Also, government in emerging economies implement several decisions such as price reduction of medical electronic devices. Such decisions positively affect the demand for medical electronic devices by resolving the affordability issues. However, stringent regulatory scenario and trade policies associated with medical electronic devices will hamper the industry growth to some extent.
 

Market, By Product

Therapeutic segment in the medical electronics market valued at USD 18 billion in 2018. Demand for therapeutic devices such as pacemakers, implantable cardioverter defibrillator devices and others is increasing conjointly with the rising prevalence of cardiovascular and neurological devices. In addition, favourable demographic trends in European and North American countries will propel the demand for therapeutic medical electronics devices segment over the forecast timeframe.
 

Diagnostic segment will showcase 13.1% growth rate through 2025. Increasing awareness regarding benefits of early diagnosis will accelerate the demand for better and accurate diagnostic medical electronic devices. Furthermore, growing prevalence of genetic diseases will fuel the demand for diagnostic medical electronic devices augmenting the segment growth.
 

Market, By End-use

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Hospitals segment dominated more than 45.5% of the medical electronics market share in 2018. Growing prevalence of cardiovascular diseases and respiratory infections in geriatric population has raised the number of hospital admissions. Also, hospitals covered under public healthcare system in developed as well as developing countries are well-equipped with highly efficient medical electronic devices that should spur the segment expansion in the coming years.
 

Ambulatory surgical centres segment is expected to expand at a CAGR of 13.1% till 2025 owing to the rising number of surgical procedures being performed in ambulatory surgical centres. Ambulatory surgical centres provide treatment at significant low cost than hospitals. The low cost is due to the high operational efficiency that helps in saving patient’s money. Moreover, ambulatory surgical centres provide specialized care and treat patients in a way that significantly increase patient satisfaction.
 

Market, By Region

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Asia Pacific medical electronics market is estimated to attain a CAGR of 13.7% during 2019 to 2025 led by the rising geriatric population that is susceptible to chronic diseases and infections. Growing usage of medical electronic devices utilized in diagnosis and treatment of chronic diseases has reduced the mortality rates that proves beneficial for the industry expansion. Additionally, government in developing countries such as China implements certain initiatives that ensures availability of superior quality medical electronic devices thereby, impelling the regional progression during the forecast timeline.
 

North America market size was USD 32.9 billion in 2018. Major factors driving the North America regional growth includes high healthcare expenditure, increased income levels and high adoption rates for advanced medical electronic equipments. Also, high patient awareness about the benefits of early diagnosis will boost the demand for medical electronics during the forecast period. In addition, developed infrastructure coupled with the access of advanced diagnostics technologies will positively influence the regional expansion in the coming years.
 

Competitive Market Share

Some of the leading companies operating in the market include GE Healthcare, Phillips, Siemens, Medtronic, Fujifilm, Hitachi, Samsung and Toshiba. Other notable players include Boston Scientific, Olympus, Carestream Health, Allengers Medical and Maxim Integrated. Intense competition is observed among the companies as they focus on offering innovative product. Mergers, acquisitions, new product launches, geographic expansion and partnerships are some of the strategies strategically implemented by the companies to gain competitive advantage.
 

Industry Background

History of medical electronic devices utilized for diagnosing diseases can be traced back to early 1700’s. In 1714, Daniel Fahrenheit invented the first mercury thermometer that is still used to sense the body temperature by the drop of mercury levels. Later with advancements in medical field, in 1901 Rontgen discovered X-rays that currently finds application in diagnosis of various diseases. Since then, several medical devices have been introduced that have helped in diagnosis with minimum errors. Currently, there are drastic changes in the diagnostic methods and the medical electronic devices that were developed earlier have now being improved to impart at most accurate readings. Key industry leaders have increased their R&D efforts to introduce highly efficient medical electronics that have decreased the mortality rates that has a positive impact on the industry progression. Besides, the medical devices industry is still in developing phase and will observe various growth opportunities with further advancements in technology.
 

Medical electronics market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2014 to 2025, for the following segments:

Market, By Product (USD Million, 000’ Units)

• Therapeutic
  • Pacemakers
  • Implantable cardioverter-defibrillators
  • Neurostimulation devices
  • Surgical robots
  • Respiratory care devices
• Diagnostics
  • Patient monitoring devices
  • PET/CT devices
  • MRI scanners
  • Ultrasound devices
  • X-ray devices
  • CT scanners
• Others

Market, By End-use (USD million, 000’ Units)

• Hospitals
• Ambulatory surgical centers
• Clinics
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Russia
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
• Latin America
  • Brazil
  • Mexico
• Middle East Asia & Africa
  • South Africa
  • Saudi Arabia
  • UAE