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Global Medical Electronics Market by Component (Sensors, Batteries, MPUs, Displays, Memory Chips), Equipment (Diagnostic and Imaging, Patient Monitoring, Medical Implantable, Ventilators & RGM, Medical Robots) Device Classification - Forecast to 2029

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    Report

  • 265 Pages
  • July 2024
  • Region: Global
  • Markets and Markets
  • ID: 5304928
Description Jump to:
The global medical electronics market is expected to be valued at USD 11.1 billion in 2024 and is projected to reach USD 15.7 billion by 2029; it is expected to grow at a CAGR of 7.2% from 2024 to 2029. Significant increases in healthcare expenditures across the globe are boosting the economic growth of the medical electronics market. The rising investment in advanced medical technologies and equipment for improving patient monitoring and diagnosis techniques propels the demand for medical devices. Due to the growth in the development of medical devices, there is a surge in the need for electronic components such as sensors, batteries, and integrated circuits, among others.

Sensors are expected to exhibit the highest growth rate in the medical electronics market

Medical sensors account for the highest CAGR in the medical electronics market, as these components play an essential role in sensing various vital parameters during medical procedures. Furthermore, the advancement in medical sensors, including MEMS-based sensors, is responsible for improving the accuracy of medical devices. Also, innovations in medical devices, such as AI and IoT-based connectivity, are expected to foster revenue growth in the medical electronics market. Sensors were used because of the growing demand for real-time health monitoring, driven by the increased prevalence of chronic diseases and the shift toward preventative healthcare. Furthermore, the rapid expansion of this category has been propelled by the proliferation of wearable health devices and remote patient monitoring systems that rely heavily on various sensors, including temperature, pressure, ECG, and glucose sensors.

Patient monitoring devices segment based on device type to hold the largest share in the medical electronics market.

The patient monitoring devices segment in the medical electronics market accounts for the largest share. The increasing prevalence of several chronic diseases, such as cardiac, respiratory, diabetes, etc., is creating the need for continuous monitoring during the treatment. The patient monitoring devices help to manage better and reduce health risks. Furthermore, technologically advanced medical devices are being adopted across multiple healthcare facilities. Also, trends such as telemedicine are fueling the demand for remote patient monitoring solutions. These factors are majorly driving the medical electronics market and impacting the growth of the patient monitoring devices segment positively.

Based on medical procedures, the non-invasive procedures to dominate the medical electronics market

Adopting non-invasive procedures holds a large share of the medical electronics market. These procedures have several advantages over invasive procedures, including less risk of surgery complications, reduced recovery time, and enhanced patient comfort. Moreover, advanced diagnostic and therapeutic medical equipment and devices such as imaging systems like MRI, CT scans, ultrasounds, blood glucose monitors, and wearable health monitors are expected to increase the adoption of non-invasive medical procedures among healthcare practitioners. These devices allow doctors to monitor patients continuously without surgical intervention. The increasing investments in feasible and innovative medical procedures fuel segmental growth in the medical electronics market over the forecast period.

Hospitals & clinics segment to hold the largest share in the medical electronics market

Based on medical facilities, the hospitals & clinics segment is dominating the medical electronics market. The growth of this segment is attributed to the influence of infrastructural investments in these facilities and the purchase of advanced medical equipment. Such medical equipment includes robotic surgery, patient monitoring, diagnostic imaging, and treatment equipment. These are the most essential equipment in hospitals and clinics and are frequently used. Furthermore, they must have high accuracy and precision in measuring physical parameters. Insufficiency in the maintenance of such equipment may pose a high risk to the patient's life. Due to these factors, the market share of hospitals and clinics in the medical electronics segment is expected to boost over the forecast period.

North America region holds the largest share in the medical electronics market.

The North American region dominates the medical electronics market because as the healthcare infrastructure advances, new medical technologies are being adopted at a rapid rate in our country, enabling the invention of more improved devices used in the treatment of patients. These were established mainly because it has invested heavily in research and development to improve its medical devices and expanding health-wise expenditure. This has led to increased investments from both the public and private sectors into the healthcare systems and, therefore, further advancements made within this particular domain again. This has further led to age-group categories, with the highest percentage being over 60 years who require more medication prescriptions than younger people.

The study contains insights from various industry experts, from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:

  • By Company Type: Tier 1 - 26%, Tier 2 - 32%, and Tier 3 - 42%
  • By Designation: C-level Executives - 40%, Directors - 30%, and Others - 30%
  • By Region: North America - 35%, Europe - 30%, Asia Pacific - 25%, and RoW - 10%
The key players operating in the medical electronics market are Analog Devices, Inc. (US), TE Connectivity (Switzerland), Texas Instruments Incorporated (US), STMicroelectronics (Switzerland), and NXP Semiconductors (Netherlands) among others.

Research Coverage:

The research reports the Asset Integrity Management Market, by Component, (Sensors, Batteries, Displays, MPUs/MCUs, Memory Chips) by Medical Equipment/ Device Type (Diagnostic and Imaging Devices, Patient Monitoring Devices, Active Medical Implantable Devices, Ventilators and RGM equipment, Surgical Robotic Systems, Other Medical Equipment/ Device Types), by Medical Procedure (Non-invasive, Minimally Invasive, Invasive), by Medical Device Classification (Class I, Class II, Class III), by Medical Facility (Hospitals & Clinics, Nursing Homes, Assisted Living Facilities, Long-term Care Centers, and Home Health Care Settings, Other Medical Facilities) and Region (North America, Europe, Asia Pacific, and Rest of the world (RoW)).

The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the medical electronics market. A thorough analysis of the key industry players has been done to provide insights into their business overviews, products, key strategies, Contracts, partnerships, and agreements. New product launches, mergers and acquisitions, and recent medical electronics market developments. This report covers a competitive analysis of upcoming startups in the medical electronics market ecosystem.

Key Benefits of Buying the Report

  • Analysis of key drivers (Global rise in elderly population, Increasing healthcare expenditure, Emergence of IoT-enabled medical devices, Growing popularity of portable and wearable medical electronics), restraints (Low internet penetration in developing countries, High development costs associated with medical electronics), opportunities (Proliferation of smart medical devices with advanced sensors, Growing investments in healthcare sector in developing countries, Integration of robots into surgical procedures, Increasing popularity of telemedicine), and challenges (Regulatory barriers due to multi-layered laws, Susceptibility to hacking and cyber threats) influencing the growth of the medical electronics market.
  • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the medical electronics market
  • Market Development: Comprehensive information about lucrative markets - the report analyses the medical electronics market across varied regions.
  • Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the medical electronics market
  • Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like Analog Devices, Inc. (US), TE Connectivity (Switzerland), Texas Instruments Incorporated (US), STMicroelectronics (Switzerland), and NXP Semiconductors (Netherlands) among others in the medical electronics market.

Table of Contents

1 Introduction
1.1 Study Objectives
1.2 Market Definition
1.3 Study Scope
1.3.1 Markets Covered
Figure 1 Medical Electronics Market Segmentation
1.3.2 Inclusions and Exclusions
1.3.3 Regional Scope
1.3.4 Years Considered
1.4 Currency Considered
1.5 Units Considered
1.6 Limitations
1.7 Stakeholders
1.8 Summary of Changes
1.9 Recession Impact
2 Research Methodology
2.1 Research Approach
Figure 2 Medical Electronics Market: Research Design
2.1.1 Secondary and Primary Research
2.1.2 Secondary Data
2.1.2.1 List of Major Secondary Sources
2.1.2.2 Key Data from Secondary Sources
2.1.3 Primary Data
2.1.3.1 Intended Participants and Key Opinion Leaders in Primary Interviews
2.1.3.2 Breakdown of Primaries
2.1.3.3 Key Data from Primary Sources
2.1.3.4 Key Industry Insights
2.1.3.5 List of Key Primary Interview Participants
2.2 Market Size Estimation Methodology
Figure 3 Medical Electronics Market Size Estimation Methodology
2.2.1 Bottom-Up Approach
2.2.1.1 Approach to Estimate Market Size Using Bottom-Up Analysis (Demand Side)
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
2.2.2 Top-Down Approach
2.2.2.1 Approach to Estimate Market Size Using Top-Down Analysis (Supply Side)
Figure 5 Market Size Estimation Methodology: Top-Down Approach
Figure 6 Medical Electronics Market: Supply-Side Analysis
2.3 Data Triangulation
Figure 7 Data Triangulation
2.4 Research Assumptions
2.5 Research Limitations
2.6 Risk Assessment
2.7 Parameters Considered to Analyze Recession Impact on Medical Electronics Market
3 Executive Summary
Figure 8 Batteries Segment to Account for Largest Market Share in 2024
Figure 9 Non-Invasive Segment to Claim Largest Market Share in 2029
Figure 10 Patient Monitoring Devices Segment to Lead Market in 2029
Figure 11 North America Held Largest Market Share in 2023
4 Premium Insights
4.1 Attractive Opportunities for Players in Medical Electronics Market
Figure 12 Growing Implementation of AI and IoT in Medical Electronic Equipment to Offer Lucrative Growth Opportunities
4.2 Medical Electronics Market in North America, by Country and Medical Facility
Figure 13 US and Hospitals & Clinics Segment to Hold Largest Shares of North American Market in 2024
4.3 Medical Electronics Market, by Component
Figure 14 Batteries Segment to Account for Largest Market Share in 2029
4.4 Medical Electronics Market, by Region
Figure 15 India to Exhibit Highest CAGR in Global Medical Electronics Market During Forecast Period
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
Figure 16 Medical Electronics Market: Drivers, Restraints, Opportunities, and Challenges
5.2.1 Drivers
Figure 17 Medical Electronics Market: Impact Analysis of Drivers
5.2.1.1 Global Rise in Elderly Population
5.2.1.2 Increasing Healthcare Expenditure
Figure 18 Region-Wise Expenditure Data on Healthcare (GDP Percentage)
5.2.1.3 Surging Adoption of IoT-Enabled Medical Devices
5.2.1.4 Growing Popularity of Portable and Wearable Medical Electronics
5.2.2 Restraints
Figure 19 Medical Electronics Market: Impact Analysis of Restraints
5.2.2.1 Low Internet Penetration in Developing Countries
5.2.2.2 High Development Costs Associated with Medical Electronics
5.2.3 Opportunities
Figure 20 Medical Electronics Market: Impact Analysis of Opportunities
5.2.3.1 Proliferation of Smart Medical Devices with Advanced Sensors
5.2.3.2 Growing Investments in Healthcare Sector in Developing Countries
5.2.3.3 Integration of Robots into Surgical Procedures
5.2.3.4 Increasing Popularity of Telemedicine
5.2.4 Challenges
Figure 21 Medical Electronics Market: Impact Analysis of Challenges
5.2.4.1 Regulatory Barriers due to Multi-Layered Laws
5.2.4.2 Susceptibility to Hacking and Cyber Threats
5.3 Value Chain Analysis
Figure 22 Medical Electronics Market: Value Chain Analysis
5.4 Ecosystem Analysis
Figure 23 Medical Electronics Market: Ecosystem Analysis
Table 1 Roles of Companies in Medical Electronics Ecosystem
5.5 Investment and Funding Scenario
Figure 24 Investment and Funding Scenario
5.6 Trends/Disruptions Impacting Customers' Businesses
Figure 25 Trends/Disruptions Impacting Customers' Businesses
5.7 Pricing Analysis
5.7.1 Average Selling Price Trend of Key Players, by Medical Sensor Type
Figure 26 Average Selling Price Trend of Medical Sensors Offered by Key Players, 2024 (USD/Unit)
Table 2 Average Selling Price Trend of Medical Sensor Types Offered by Key Players, 2024 (USD/Unit)
5.7.2 Average Selling Price Trend of Medical Sensors, by Type
Figure 27 Average Selling Price Trend of Medical Sensors, by Type, 2019-2023 (USD/Unit)
5.7.3 Average Selling Price Trend, by Region
Figure 28 Average Selling Price Trend of Medical Sensors, by Region, 2019-2023 (USD)
5.8 Technology Analysis
5.8.1 Key Technologies
5.8.1.1 Medical Robotics
5.8.2 Complementary Technologies
5.8.2.1 Wireless Communication
5.8.2.2 Data Analytics and AI
5.8.3 Adjacent Technologies
5.8.3.1 Telemedicine
5.8.3.2 Ar and Vr
5.8.3.3 3D Printing
5.9 Porter's Five Forces Analysis
Table 3 Medical Electronics Market: Porter's Five Forces Analysis
Figure 29 Medical Electronics Market: Porter's Five Forces Analysis
5.9.1 Intensity of Competitive Rivalry
5.9.2 Bargaining Power of Suppliers
5.9.3 Bargaining Power of Buyers
5.9.4 Threat of New Entrants
5.9.5 Threat of Substitutes
5.10 Key Stakeholders and Buying Criteria
5.10.1 Key Stakeholders in Buying Process
Figure 30 Influence of Stakeholders on Buying Process, by Medical Equipment/Device Type
Table 4 Influence of Stakeholders on Buying Process, by Medical Equipment/ Device Type (%)
5.10.2 Buying Criteria
Figure 31 Key Buying Criteria, by Medical Equipment/Device Type
Table 5 Key Buying Criteria, by Medical Equipment/Device Type
5.11 Case Study Analysis
5.11.1 Zoll Medical Developed Palm-Sized Cpr Device Using Imems Motion Sensors from Analog Devices
5.11.2 Peak Sensors Helped International Medical Company Create Compliant, Safe Anesthetic Equipment Using Fault-Free Temperature Sensor
5.11.3 Promet Optics Helped Medical Device Corporation Enhance Process Control and Reduce Costs with Optical Sensor Solutions
5.11.4 Panasonic Supported Medical Device Manufacturer with Li-Ion Batteries Ensuring Reliable and Safe Power for Portable Medical Equipment
5.11.5 Stmicroelectronics Developed Low-Power Portable ECG Device That Offered Secured Data Handling with Accurate Readings
5.12 Trade Analysis
5.12.1 Import Data (HS Code 901813)
Figure 32 Import Data for HS Code 901813-Compliant Products, by Country, 2019-2023 (USD Million)
5.12.2 Export Data (HS Code 901813)
Figure 33 Export Data for HS Code 901813-Compliant Products, by Country, 2019-2023 (USD Million)
5.13 Tariff and Regulatory Landscape
5.13.1 Tariff Analysis
Table 6 Mfn Tariff for HS Code 901813-Compliant Products Exported by US, 2023
Table 7 Mfn Tariff for HS Code 901813-Compliant Products Exported by Japan, 2023
Table 8 Mfn Tariff for HS Code 901813-Compliant Products Exported by Germany, 2023
Table 9 North America: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 10 Europe: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 11 Asia-Pacific: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 12 RoW: List of Regulatory Bodies, Government Agencies, and Other Organizations
5.13.2 Regulations
5.13.2.1 US
Figure 34 Regulatory Procedures Followed in US for Approval of Medical Devices
5.13.2.2 Canada
Figure 35 Regulatory Procedures Followed in Canada for Approval of Medical Devices
5.13.2.3 Europe
Figure 36 Regulatory Procedures Followed in Europe for Approval of Medical Devices
5.13.2.4 Japan
Figure 37 Regulatory Procedures Followed in Japan for Approval of Medical Devices
5.13.2.5 China
Figure 38 Regulatory Procedures Followed in China for Approval of Medical Devices
5.14 Patent Analysis
Figure 39 Number of Patents Applied and Granted for Medical Electronics, 2014-2023
Table 13 List of Applied/Granted Patents Related to Medical Electronics, 2021-2023
5.15 Key Conferences and Events, 2024-2025
Table 14 Medical Electronics Market: List of Conferences and Events, 2024-2025
6 Medical Electronics Market, by Component
6.1 Introduction
Figure 40 Sensors Segment to Record Highest CAGR During Forecast Period
Table 15 Medical Electronics Market, by Component, 2020-2023 (USD Million)
Table 16 Medical Electronics Market, by Component, 2024-2029 (USD Million)
6.2 Sensors
Table 17 Sensors: Medical Electronics Market, by Type, 2020-2023 (USD Million)
Table 18 Sensors: Medical Electronics Market, by Type, 2024-2029 (USD Million)
Table 19 Sensors: Medical Electronics Market, by Type, 2020-2023 (Million Units)
Table 20 Sensors: Medical Electronics Market, by Type, 2024-2029 (Million Units)
Table 21 Sensors: Medical Electronics Market, by Medical Equipment/Device Type, 2020-2023 (USD Million)
Table 22 Sensors: Medical Electronics Market, by Medical Equipment/Device Type, 2024-2029 (USD Million)
Table 23 Sensors: Medical Electronics Market, by Region, 2020-2023 (USD Million)
Table 24 Sensors: Medical Electronics Market, by Region, 2024-2029 (USD Million)
6.2.1 Temperature Sensors
6.2.1.1 Ability to Detect Small Temperature Gradients to Boost Demand
6.2.2 Pressure Sensors
6.2.2.1 Integration into Sphygmomanometer Cuffs and Invasive Blood Pressure Monitors to Drive Market
6.2.3 Blood Glucose Sensors
6.2.3.1 Surging Prevalence of Diabetes and Heart-Related Ailments to Fuel Market Growth
6.2.4 Blood Oxygen Sensors
6.2.4.1 Rising Application in Hemodynamic Monitors to Fuel Segmental Growth
6.2.5 ECG Sensors
6.2.5.1 Rising Prevalence of Cardiac Disorders to Drive Market
6.2.6 Image Sensors
6.2.6.1 Increasing Use in Ophthalmology and Digital Radiology Applications to Fuel Segmental Growth
6.2.7 Motion Sensors
6.2.7.1 Elevlating Demand for Blood Pressure Monitoring Devices and Heart Rate Monitors to Drive Market
6.2.8 Heart Rate Sensors
6.2.8.1 Growing Demand for Miniaturized Heart Rate Sensors to Offer Lucrative Growth Opportunities
6.2.9 Flow Sensors
6.2.9.1 Rising Demand for Ventilators and Respiratory Devices to Fuel Market Growth
6.2.10 Ingestible Sensors
6.2.10.1 Emergence of Modern Endoscopes to Offer Lucrative Growth Opportunities
6.2.11 Touch Sensors
6.2.11.1 Growing Implementation in Portable Devices and Patient Monitoring Systems to Drive Market
6.2.12 Piezo Film Sensors
6.2.12.1 Increasing Incidence of Sleep Apnea to Drive Market Growth
6.2.13 Position Sensors
6.2.13.1 Integration of Advanced Position Sensors in MRI Machines, CT Scanners, and X-Ray Machines to Drive Market
6.3 Batteries
Table 25 Batteries: Medical Electronics Market, by Type, 2020-2023 (USD Million)
Table 26 Batteries: Medical Electronics Market, by Type, 2024-2029 (USD Million)
Table 27 Batteries: Medical Electronics Market, by Medical Equipment/Device Type, 2020-2023 (USD Million)
Table 28 Batteries: Medical Electronics Market, by Medical Equipment/Device Type, 2024-2029 (USD Million)
Table 29 Batteries: Medical Electronics Market, by Region, 2020-2023 (USD Million)
Table 30 Batteries: Medical Electronics Market, by Region, 2024-2029 (USD Million)
6.3.1 Li-Ion Batteries
6.3.1.1 Growing Demand for High-Performing and Safe Operating Batteries to Fuel Segmental Growth
6.3.2 Zinc Batteries
6.3.2.1 Ability to Provide High Energy Density and Long Battery Life to Accelerate Demand
6.3.3 Other Batteries
6.4 Displays
6.4.1 Growing Demand for Telemedicine to Drive Market
Table 31 Displays: Medical Electronics Market, by Medical Equipment/Device Type, 2020-2023 (USD Million)
Table 32 Displays: Medical Electronics Market, by Medical Equipment/Device Type, 2024-2029 (USD Million)
Table 33 Displays: Medical Electronics Market, by Region, 2020-2023 (USD Million)
Table 34 Displays: Medical Electronics Market, by Region, 2024-2029 (USD Million)
6.5 Mcus/Mpus
6.5.1 Ongoing Advancements in Digital Health Solutions to Offer Lucrative Growth Opportunities
Table 35 Mcus/Mpus: Medical Electronics Market, by Medical Equipment/Device Type, 2020-2023 (USD Million)
Table 36 Mcus/Mpus: Medical Electronics Market, by Medical Equipment/Device Type, 2024-2029 (USD Million)
Table 37 Mcus/Mpus: Medical Electronics Market, by Region, 2020-2023 (USD Million)
Table 38 Mcus/Mpus: Medical Electronics Market, by Region, 2024-2029 (USD Million)
6.6 Memory Chips
6.6.1 Growing Demand for Secured Data Storage to Drive Market
Table 39 Memory Chips: Medical Electronics Market, by Medical Equipment/Device Type, 2020-2023 (USD Million)
Table 40 Memory Chips: Medical Electronics Market, by Medical Equipment/Device Type, 2024-2029 (USD Million)
Table 41 Memory Chips: Medical Electronics Market, by Region, 2020-2023 (USD Million)
Table 42 Memory Chips: Medical Electronics Market, by Region, 2024-2029 (USD Million)
7 Medical Electronics Market, by Medical Equipment/Device Type
7.1 Introduction
Figure 41 Patient Monitoring Devices Segment to Dominate Market in 2029
Table 43 Medical Electronics Market, by Medical Equipment/ Device Type, 2020-2023 (USD Million)
Table 44 Medical Electronics Market, by Medical Equipment/ Device Type, 2024-2029 (USD Million)
7.2 Diagnostic and Imaging Devices
Table 45 Diagnostic and Imaging Devices: Medical Electronics Market, by Type, 2020-2023 (USD Million)
Table 46 Diagnostic and Imaging Devices: Medical Electronics Market, by Type, 2024-2029 (USD Million)
Table 47 Diagnostic and Imaging Devices: Medical Electronics Market, by Component, 2020-2023 (USD Million)
Table 48 Diagnostic and Imaging Devices: Medical Electronics Market, by Component, 2024-2029 (USD Million)
7.2.1 Magnetic Resonance Imaging (MRI) Scanners
7.2.1.1 Development of High-Field and Portable MRI Devices to Drive Market
7.2.2 X-Ray Scanners
7.2.2.1 Rising Incidences of Osteoporosis to Accelerate Demand
7.2.3 CT Scanners
7.2.3.1 Increasing Need for Accurate Diagnosis of Internal Bleeding, Tumors, and Complex Fractures to Boost Demand
7.2.4 Ultrasound Scanners
7.2.4.1 Rising Focus on Developing Portable and Handheld Ultrasound Devices to Drive Market
7.2.5 Nuclear Imaging Systems
Table 49 Diagnostic and Imaging Devices: Medical Electronics Market for Nuclear Imaging Systems, by Type, 2020-2023 (USD Million)
Table 50 Diagnostic and Imaging Devices: Medical Electronics Market for Nuclear Imaging Systems, by Type, 2024-2029 (USD Million)
7.2.5.1 Positron Emission Tomography Scanners
7.2.5.1.1 Surging Prevalence of Cancer to Boost Demand
7.2.5.2 Single-Photon Emission Computed Tomography Scanners
7.2.5.2.1 Growing Demand for Advanced Diagnostic Tools to Treat Cardiovascular Diseases to Drive Segmental Growth
7.2.6 Endoscopes
7.2.6.1 Increasing Demand for Minimally Invasive Diagnostic and Surgical Procedures to Boost Demand
7.3 Patient Monitoring Devices
Table 51 Patient Monitoring Devices: Medical Electronics Market, by Type, 2020-2023 (USD Million)
Table 52 Patient Monitoring Devices: Medical Electronics Market, by Type, 2024-2029 (USD Million)
Table 53 Patient Monitoring Devices: Medical Electronics Market, by Component, 2020-2023 (USD Million)
Table 54 Patient Monitoring Devices: Medical Electronics Market, by Component, 2024-2029 (USD Million)
7.3.1 Blood Glucose Monitors
7.3.1.1 Advent of Smartphone-Compatible Glucose Meters to Drive Demand
7.3.2 Cardiac Monitors
Table 55 Patient Monitoring Devices: Medical Electronics Market for Cardiac Monitors, by Type, 2020-2023 (USD Million)
Table 56 Patient Monitoring Devices: Medical Electronics Market for Cardiac Monitors, by Type, 2024-2029 (USD Million)
7.3.2.1 Electrocardiograph (ECG)/Electrocardiogram (EKG) Monitors
7.3.2.1.1 Pressing Need to Monitor Arrhythmias and Heart Attacks to Drive Market
7.3.2.2 Heart Rate Monitors
7.3.2.2.1 Increasing Emphasis on Fitness and Wellness to Boost Demand
7.3.2.3 Doppler Monitors
7.3.2.3.1 Rising Demand for Non-Invasive Diagnostic Tools to Fuel Segmental Growth
7.3.3 Hemodynamic Monitors
Table 57 Patient Monitoring Devices: Medical Electronics Market for Hemodynamic Monitors, by Type, 2020-2023 (USD Million)
Table 58 Patient Monitoring Devices: Medical Electronics Market for Hemodynamic Monitors, by Type, 2024-2029 (USD Million)
7.3.3.1 Blood Pressure Monitors
7.3.3.1.1 Increasing Demand for Wearable Blood Pressure Monitors and Smartphone-Compatible Devices to Drive Market
7.3.3.2 Blood Gas Monitors
7.3.3.2.1 Rising Incidence of Respiratory Diseases to Fuel Market Growth
7.3.4 Respiratory Monitors
Table 59 Patient Monitoring Devices: Medical Electronics Market for Respiratory Monitors, by Type, 2020-2023 (USD Million)
Table 60 Patient Monitoring Devices: Medical Electronics Market for Respiratory Monitors, by Type, 2024-2029 (USD Million)
7.3.4.1 Pulse Oximeters
7.3.4.1.1 Rising Demand for Smartphone-Compatible and Wearable Pulse Oximeters to Boost Demand
7.3.4.2 Sleep Apnea Monitors
7.3.4.2.1 Growing Demand for Portable and User-Friendly Monitors to Drive Market
7.3.4.3 Anesthesia Monitors
7.3.4.3.1 Rising Demand to Reduce Complexity of Surgical Procedures to Boost Demand
7.3.5 Multi-Parameter Monitoring Devices
7.3.5.1 Expanding Geriatric Population with Chronic Diseases to Drive Market
7.3.6 Neuromonitoring Devices
7.3.6.1 Ability to Provide Real-Time Data on Brain Activity, Spinal Cord Function, and Peripheral Nerve Integrity to Drive Market
7.3.7 Digital Thermometers
7.3.7.1 Growing Demand for Non-Contact and Infrared Thermometers to Fuel Market Growth
7.4 Active Medical Implantable Devices
7.4.1 Surging Demand for Pacemakers and Spinal Cord Stimulators to Drive Segmental Growth
Table 61 Active Medical Implantable Devices: Medical Electronics Market, by Component, 2020-2023 (USD Million)
Table 62 Active Medical Implantable Devices: Medical Electronics Market, by Component, 2024-2029 (USD Million)
7.5 Ventilators and Rgm Equipment
7.5.1 Increasing Prevalence of Respiratory Diseases to Boost Demand
Table 63 Ventilators and Rgm Equipment: Medical Electronics Market, by Component, 2020-2023 (USD Million)
Table 64 Ventilators and Rgm Equipment: Medical Electronics Market, by Component, 2024-2029 (USD Million)
7.6 Surgical Robotic Systems
7.6.1 Rising Demand for Real-Time Decision Support and Predictive Analytics to Drive Market
Table 65 Surgical Robotic Systems: Medical Electronics Market, by Component, 2020-2023 (USD Million)
Table 66 Surgical Robotic Systems: Medical Electronics Market, by Component, 2024-2029 (USD Million)
7.7 Other Medical Equipment/Device Types
Table 67 Other Medical Equipment/Device Types: Medical Electronics Market, by Component, 2020-2023 (USD Million)
Table 68 Other Medical Equipment/Device Types: Medical Electronics Market, by Component, 2024-2029 (USD Million)
8 Medical Electronics Market, by Medical Procedure
8.1 Introduction
Figure 42 Non-Invasive Segment to Dominate Medical Electronics Market During Forecast Period
Table 69 Medical Electronics Market, by Medical Procedure, 2020-2023 (USD Million)
Table 70 Medical Electronics Market, by Medical Procedure, 2024-2029 (USD Million)
8.2 Non-Invasive
8.2.1 Increasing Demand for Telehealth and Remote Patient Monitoring to Fuel Segmental Growth
8.3 Minimally Invasive
8.3.1 Rising Awareness of Advanced Imaging and Monitoring Technologies to Drive Market
8.4 Invasive
8.4.1 Advent of Internet of Medical Things to Offer Lucrative Growth Opportunities
9 Medical Electronics Market, by Medical Device Classification
9.1 Introduction
Figure 43 Class II Segment to Dominate Market During Forecast Period
Table 71 Medical Electronics Market, by Medical Device Classification, 2020-2023 (USD Million)
Table 72 Medical Electronics Market, by Medical Device Classification, 2024-2029 (USD Million)
9.2 Class I
9.2.1 Growing Shift Toward Home-based Care Models to Drive Market
9.3 Class II
9.3.1 Improved Sensor Technologies and Connectivity Features to Fuel Segmental Growth
9.4 Class III
9.4.1 Growing Incidences of Cardiovascular Diseases and Cancer to Drive Segmental Growth
10 Medical Electronics Market, by Medical Facility
10.1 Introduction
Figure 44 Hospitals & Clinics Segment to Lead Market in 2024
Table 73 Medical Electronics Market, by Medical Facility, 2020-2023 (USD Million)
Table 74 Medical Electronics Market, by Medical Facility, 2024-2029 (USD Million)
10.2 Hospitals & Clinics
10.2.1 Increasing Data Generation with Expanding Number of Patients to Fuel Market Growth
Table 75 Hospitals & Clinics: Medical Electronics Market, by Region, 2020-2023 (USD Million)
Table 76 Hospitals & Clinics: Medical Electronics Market, by Region, 2024-2029 (USD Million)
10.3 Nursing Homes, Assisted Living Facilities, Long-Term Care Centers, and Home Care Settings
10.3.1 Pressing Need for Continuous Care and Monitoring to Manage Chronic Conditions to Drive Market
Table 77 Nursing Homes, Assisted Living Facilities, Long-Term Care Centers, and Home Care Settings: Medical Electronics Market, by Region, 2020-2023 (USD Million)
Table 78 Nursing Homes, Assisted Living Facilities, Long-Term Care Centers, and Home Care Settings: Medical Electronics Market, by Region, 2024-2029 (USD Million)
10.4 Other Medical Facilities
Table 79 Other Medical Facilities: Medical Electronics Market, by Region, 2020-2023 (USD Million)
Table 80 Other Medical Facilities: Medical Electronics Market, by Region, 2024-2029 (USD Million)
11 Medical Electronics Market, by Region
11.1 Introduction
Figure 45 Asia-Pacific to Register Highest CAGR During Forecast Period
Table 81 Medical Electronics Market, by Region, 2020-2023 (USD Million)
Table 82 Medical Electronics Market, by Region, 2024-2029 (USD Million)
11.2 North America
Figure 46 North America: Medical Electronics Market Snapshot
Table 83 North America: Medical Electronics Market, by Country, 2020-2023 (USD Million)
Table 84 North America: Medical Electronics Market, by Country, 2024-2029 (USD Million)
Table 85 North America: Medical Electronics Market, by Medical Facility, 2020-2023 (USD Million)
Table 86 North America: Medical Electronics Market, by Medical Facility, 2024-2029 (USD Million)
Table 87 North America: Medical Electronics Market, by Component, 2020-2023 (USD Million)
Table 88 North America: Medical Electronics Market, by Component, 2024-2029 (USD Million)
11.2.1 US
11.2.1.1 Growing Demand for Advanced Medical Devices Among Expanding Geriatric Population to Boost Demand
11.2.2 Canada
11.2.2.1 Increasing Healthcare Expenditure to Drive Market
11.2.3 Mexico
11.2.3.1 Rising Number of Fdis in Healthcare Sector to Offer Lucrative Growth Opportunities
11.2.4 Impact of Recession on Medical Electronics Market in North America
11.3 Europe
Figure 47 Europe: Medical Electronics Market Snapshot
Table 89 Europe: Medical Electronics Market, by Country, 2020-2023 (USD Million)
Table 90 Europe: Medical Electronics Market, by Country, 2024-2029 (USD Million)
Table 91 Europe: Medical Electronics Market, by Medical Facility, 2020-2023 (USD Million)
Table 92 Europe: Medical Electronics Market, by Medical Facility, 2024-2029 (USD Million)
Table 93 Europe: Medical Electronics Market, by Component, 2020-2023 (USD Million)
Table 94 Europe: Medical Electronics Market, by Component, 2024-2029 (USD Million)
11.3.1 Germany
11.3.1.1 Growing Popularity of Wearable Devices to Boost Demand
11.3.2 UK
11.3.2.1 Government-Led Scheme to Develop Healthcare Sector to Drive Market
11.3.3 France
11.3.3.1 Growing Healthcare Expenditure Fueling Market Growth in France
11.3.4 Italy
11.3.4.1 Increasing Investments in Digital Health Solutions and Telemedicine to Offer Lucrative Growth Opportunities
11.3.5 Rest of Europe
11.3.6 Impact of Recession on Medical Electronics Market in Europe
11.4 Asia-Pacific
Figure 48 Asia-Pacific: Medical Electronics Market Snapshot
Table 95 Asia-Pacific: Medical Electronics Market, by Country, 2020-2023 (USD Million)
Table 96 Asia-Pacific: Medical Electronics Market, by Country, 2024-2029 (USD Million)
Table 97 Asia-Pacific: Medical Electronics Market, by Medical Facility, 2020-2023 (USD Million)
Table 98 Asia-Pacific: Medical Electronics Market, by Medical Facility, 2024-2029 (USD Million)
Table 99 Asia-Pacific: Medical Electronics Market, by Component, 2020-2023 (USD Million)
Table 100 Asia-Pacific: Medical Electronics Market, by Component, 2024-2029 (USD Million)
11.4.1 China
11.4.1.1 Growing Adoption of Artificial Intelligence for Imaging and Diagnosis to Drive Market
11.4.2 Japan
11.4.2.1 Increasing Adoption of IoT-based Medical Devices to Propel Market Growth
11.4.3 India
11.4.3.1 Rising Investments from Corporate Hospital Chains to Drive Market
11.4.4 South Korea
11.4.4.1 Rising Public - Private Collaborations to Develop Healthcare Sector to Boost Demand
11.4.5 Rest of Asia-Pacific
11.4.6 Impact of Recession on Medical Electronics Market in Asia-Pacific
11.5 RoW
Table 101 RoW: Medical Electronics Market, by Region, 2020-2023 (USD Million)
Table 102 RoW: Medical Electronics Market, by Region, 2024-2029 (USD Million)
Table 103 RoW: Medical Electronics Market, by Medical Facility, 2020-2023 (USD Million)
Table 104 RoW: Medical Electronics Market, by Medical Facility, 2024-2029 (USD Million)
Table 105 RoW: Medical Electronics Market, by Component, 2020-2023 (USD Million)
Table 106 RoW: Medical Electronics Market, by Component, 2024-2029 (USD Million)
11.5.1 Middle East
11.5.1.1 Government-Led Initiatives to Develop Medical Infrastructure to Boost Demand
Table 107 Middle East: Medical Electronics Market, by Country, 2020-2023 (USD Million)
Table 108 Middle East: Medical Electronics Market, by Country, 2024-2029 (USD Million)
11.5.1.2 GCC
11.5.1.3 Rest of Middle East
11.5.2 Africa
11.5.2.1 Rise in Local Manufacturing of Medical Devices to Drive Market
11.5.3 South America
11.5.3.1 Increasing Awareness and Adoption of Advanced Medical Devices to Fuel Market Growth
11.5.4 Impact of Recession on Medical Electronics Market in RoW
12 Competitive Landscape
12.1 Overview
12.2 Key Player Strategies/Right to Win, 2020-2024
Table 109 Key Player Strategies/Right to Win, 2020-2024
12.3 Market Share Analysis, 2023
Figure 49 Medical Electronics Market Share Analysis, 2023
Table 110 Medical Electronics Market: Degree of Competition, 2023
12.4 Revenue Analysis, 2019-2023
Figure 50 Revenue Analysis of Top Five Players, 2019-2023
12.5 Company Valuation and Financial Metrics, 2024
Figure 51 Company Valuation, 2024 (USD Million)
Figure 52 Financial Metrics (EV/EBITDA), 2024
12.6 Product/Brand Comparison
Figure 53 Product/Brand Comparison
12.7 Company Evaluation Matrix: Key Players, 2023
12.7.1 Stars
12.7.2 Emerging Leaders
12.7.3 Pervasive Players
12.7.4 Participants
Figure 54 Medical Electronics Market: Company Evaluation Matrix (Key Players), 2023
12.7.5 Company Footprint: Key Players, 2023
12.7.5.1 Company Footprint
Figure 55 Medical Electronics Market: Company Footprint
12.7.5.2 Component Footprint
Table 111 Medical Electronics Market: Component Footprint
12.7.5.3 Medical Equipment/Device Type Footprint
Table 112 Medical Electronics Market: Medical Equipment/Device Type Footprint
12.7.5.4 Medical Procedure Footprint
Table 113 Medical Electronics Market: Medical Procedure Footprint
12.7.5.5 Region Footprint
Table 114 Medical Electronics Market: Region Footprint
12.8 Company Evaluation Matrix: Startups/SMEs, 2023
12.8.1 Progressive Companies
12.8.2 Responsive Companies
12.8.3 Dynamic Companies
12.8.4 Starting Blocks
Figure 56 Medical Electronics Market: Company Evaluation Matrix (Startups/SMEs), 2023
12.8.5 Competitive Benchmarking: Startups/SMEs, 2023
12.8.5.1 Detailed List of Startups/SMEs
Table 115 Medical Electronics Market: Detailed List of Startups/SMEs
12.8.5.2 Competitive Benchmarking of Key Startups/SMEs
Table 116 Medical Electronics Market: Competitive Benchmarking of Key Startups/SMEs
12.9 Competitive Scenario and Trends
12.9.1 Product Launches
Table 117 Medical Electronics Market: Product Launches, March 2020-February 2024
12.9.2 Deals
Table 118 Medical Electronics Market: Deals, March 2020-February 2024
12.9.3 Expansions
Table 119 Medical Electronics Market: Expansions, March 2020-February 2024
12.9.4 Others
Table 120 Medical Electronics Market: Others, March 2020-February 2024
13 Company Profiles
13.1 Key Players
(Business Overview, Products/Solutions/Services Offered, Recent Developments, and Analyst's View)*
13.1.1 Analog Devices, Inc.
Table 121 Analog Devices, Inc.: Company Overview
Figure 57 Analog Devices, Inc.: Company Snapshot
Table 122 Analog Devices, Inc.: Products/Solutions/Services Offered
Table 123 Analog Devices, Inc.: Deals
Table 124 Analog Devices, Inc.: Expansions
Table 125 Analog Devices, Inc.: Others
13.1.2 Te Connectivity
Table 126 Te Connectivity: Company Overview
Figure 58 Te Connectivity: Company Snapshot
Table 127 Te Connectivity: Products/Solutions/Services Offered
Table 128 Te Connectivity: Deals
Table 129 Te Connectivity: Expansions
13.1.3 Texas Instruments Incorporated
Table 130 Texas Instruments Incorporated: Company Overview
Figure 59 Texas Instruments Incorporated: Company Snapshot
Table 131 Texas Instruments Incorporated: Products/Solutions/Services Offered
Table 132 Texas Instruments Incorporated: Product Launches
13.1.4 Stmicroelectronics
Table 133 Stmicroelectronics: Company Overview
Figure 60 Stmicroelectronics: Company Snapshot
Table 134 Stmicroelectronics: Products/Solutions/Services Offered
Table 135 Stmicroelectronics: Deals
13.1.5 Nxp Semiconductors
Table 136 Nxp Semiconductors: Company Overview
Figure 61 Nxp Semiconductors: Company Snapshot
Table 137 Nxp Semiconductors: Products/Solutions/Services Offered
13.1.6 Infineon Technologies AG
Table 138 Infineon Technologies AG: Company Overview
Figure 62 Infineon Technologies AG: Company Snapshot
Table 139 Infineon Technologies AG: Products/Solutions/Services Offered
Table 140 Infineon Technologies AG: Deals
Table 141 Infineon Technologies AG: Expansions
13.1.7 Samsung
Table 142 Samsung: Company Overview
Figure 63 Samsung: Company Snapshot
Table 143 Samsung: Products/Solutions/Services Offered
Table 144 Samsung: Product Launches
Table 145 Samsung: Deals
13.1.8 Semiconductor Components Industries, LLC
Table 146 Semiconductor Components Industries, LLC: Company Overview
Figure 64 Semiconductor Components Industries, LLC: Company Snapshot
Table 147 Semiconductor Components Industries, LLC: Products/Solutions/ Services Offered
13.1.9 Renesas Electronics Corporation
Table 148 Renesas Electronics Corporation: Company Overview
Figure 65 Renesas Electronics Corporation: Company Snapshot
Table 149 Renesas Electronics Corporation: Products/Solutions/Services Offered
13.1.10 Lg Display Co. Ltd.
Table 150 Lg Display Co. Ltd.: Company Overview
Figure 66 Lg Display Co. Ltd.: Company Snapshot
Table 151 Lg Display Co. Ltd.: Products/Solutions/Services Offered
13.1.11 Auo Corporation
Table 152 Auo Corporation: Company Overview
Figure 67 Auo Corporation: Company Snapshot
Table 153 Auo Corporation: Products/Solutions/Services Offered
13.1.12 Panasonic Holdings Corporation
Table 154 Panasonic Holdings Corporation: Company Overview
Figure 68 Panasonic Holdings Corporation: Company Snapshot
Table 155 Panasonic Holdings Corporation: Products/Solutions/Services Offered
13.1.13 Ultralife Corporation
Table 156 Ultralife Corporation: Company Overview
Figure 69 Ultralife Corporation: Company Snapshot
Table 157 Ultralife Corporation: Products/Solutions/Services Offered
13.1.14 Amphenol Corporation
Table 158 Amphenol Corporation: Company Overview
Figure 70 Amphenol Corporation: Company Snapshot
Table 159 Amphenol Corporation: Products/Solutions/Services Offered
* Business Overview, Products/Solutions/Services Offered, Recent Developments, and Analyst's View Might Not be Captured in Case of Unlisted Companies
13.2 Other Players
13.2.1 Boe Technology Group Co. Ltd.
13.2.2 GE Healthcare
13.2.3 Stryker
13.2.4 Microchip Technology Inc.
13.2.5 Honeywell International Inc.
13.2.6 Tekscan, Inc.
13.2.7 Sensirion AG
13.2.8 Endress+Hauser Group Services AG
13.2.9 Merit Medical Systems
13.2.10 Ams-Osram AG
13.2.11 Broadcom
14 Appendix
14.1 Insights from Industry Experts
14.2 Discussion Guide
14.3 Knowledgestore: The Subscription Portal
14.4 Customization Options

Companies Mentioned

  • Analog Devices, Inc.
  • Te Connectivity
  • Texas Instruments Incorporated
  • Stmicroelectronics
  • Nxp Semiconductors
  • Infineon Technologies AG
  • Samsung
  • Semiconductor Components Industries, LLC
  • Renesas Electronics Corporation
  • Lg Display Co. Ltd.
  • Auo Corporation
  • Panasonic Holdings Corporation
  • Ultralife Corporation
  • Amphenol Corporation
  • Boe Technology Group Co. Ltd.
  • GE Healthcare
  • Stryker
  • Microchip Technology Inc.
  • Honeywell International Inc.
  • Tekscan, Inc.
  • Sensirion AG
  • Endress+Hauser Group Services AG
  • Merit Medical Systems
  • Ams-Osram AG
  • Broadcom

Methodology

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Table Information

Report AttributeDetails
No. of Pages265
PublishedJuly 2024
Forecast Period2024 - 2029
Estimated Market Value ( USD ) in 2024 $ 11.1 Billion
Forecasted Market Value ( USD ) by 2029 $ 15.7 Billion
Compound Annual Growth Rate7.2%
Regions CoveredGlobal
No. of Companies Mentioned25

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About the Medical Electronics Market

The Medical Electronics market is a subset of the Medical Devices industry, focusing on the development and production of electronic medical equipment. This includes a wide range of products, from diagnostic imaging systems to patient monitoring systems, and from medical imaging software to medical robotics. Medical electronics are used to diagnose, monitor, and treat a variety of medical conditions, from cancer to cardiovascular disease. Medical electronics are designed to be highly reliable and accurate, and must meet stringent safety and regulatory standards. As such, the development of medical electronics requires a high level of expertise and experience. The Medical Electronics market is highly competitive, with a number of large companies competing for market share. Some of the major players in the market include Philips, Siemens, GE Healthcare, Medtronic, and Johnson & Johnson. Show Less Read more

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