Medical Electronics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Medical Electronics market is segmented by Product (Non-Invasive Products, and Invasive Products), Application, End-User, and Geography

Medical Electronics Market Snapshot

Medical Electronics  Market CAGR
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 6.3 %

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Market Overview

The medical electronics market studied was anticipated to grow with a CAGR of 6.3%, during the forecast period. The major factors attributing to the growth of the medical electronics market are the rising incidence of chronic diseases such as autoimmune diseases, cancer, blood disorder, and others. The rise in the population suffering from chronic diseases are also propelling the demand for these medical electronics as the demand for medical devices is increasing. In 2018, as per the AARDA (AMERICAN AUTOIMMUNE RELATED DISEASE ASSOCIATION) statistics, around 50 million Americans have an autoimmune disease, and this number is expected to rise in the future. As per the CDC (CENTERS FOR DISEASE CONTROL AND PREVENTION) estimates Sickel Cell Disease (SCD) affects around 100,000 Americas annually. And there are few more factors which are playing crucial roles in taking the medical electronics market to the next level, among them one technological advancement and novel medical electronics developments which are expected to further propel the medical electronics market growth.

Scope of the Report

Medical electronics is an electronics division that deals with the design, installation, and use of electrical appliances and equipment for medical applications such as study, monitoring, treatment, diagnosis, assistance, and care.

By Product
Non-Invasive Products
MRI
X-Ray
CT Scan
Ultrasound
Nuclear Imaging Systems
Cardiac Monitors
Respiratory Monitors
Hemodynamic Monitors
Multipara Monitors
Digital Thermometers
Others
Invasive Products
Endoscopes
Pacemakers
Implantable Cardioverter Defibrillator (ICD)
Implantable Loop Recorders
Spinal Cord Stimulator
Spinal Cord Stimulator
Others
By Application
Diagnostics
Monitoring
Therapeutics
By End User
Hospitals & Clinics
Ambulatory Surgical Centers
Others
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Non-Invasive Product Segment is Expected to Hold the Largest Market Share in the Medical Electronics Market

  • The major factors augmenting the growth of the non-invasive products market include the rise in the prevalence of chronic diseases, increased adoption of advanced technologies in medical imaging, rising preference of minimally invasive surgeries, and the rise in geriatric population.
  • The burden of chronic diseases is on the rise globally, and medical imaging procedures play a crucial role in the accurate diagnosis of chronic diseases. The increase in the aging population and changes in social behavior are contributing to a steady increase in these common and costly long-term health problems. New models for therapy and diagnoses are being developed, which provide precise results, help in early detection of diseases, and help minimize the cost of treating these diseases. With the increasing disposable income, people are becoming capable enough to have access to imaging procedures for early detection of diseases and treatment.
Medical Electronics  Market

North America Dominates the Market and Expected to do Same in the Forecast Period

North America is expected to dominate the overall medical electronics market, throughout the forecast period. This is owing to factors such as the rising incidence of chronic diseases such as cancer, blood disorder, autoimmune diseases, and other diseases and the availability of advanced healthcare infrastructure among the major factors. In North America region, the United States holds the largest market share owing to the factors such as increasing number of population suffering from cancer and other chronic diseases, along with the rising geriatric population and developments related to medical electronics, higher affordability rates among the population, and rising demand for medical devices in the country is anticipated to further aid the market growth in the region during the forecast period.

Medical Electronics Market 2

Competitive Landscape

The medical electronics market is moderately competitive and consists of several major players. In terms of market share, few of the major players are currently dominating the market. And some prominent players are vigorously making acquisitions and joint ventures with the other companies to consolidate their market positions across the globe. Some of the companies which are currently dominating the market are Medtronics plc, GE Healthcare, Koninklijke Philips N.V., Siemens Healthcare GmbH, and Fujifilm Corporation.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increasing geriatric population

      2. 4.2.2 Rising application of imaging devices

    3. 4.3 Market Restraints

      1. 4.3.1 Ramped up regulatory scrutiny

      2. 4.3.2 High Cost and Maintenance

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product

      1. 5.1.1 Non-Invasive Products

        1. 5.1.1.1 MRI

        2. 5.1.1.2 X-Ray

        3. 5.1.1.3 CT Scan

        4. 5.1.1.4 Ultrasound

        5. 5.1.1.5 Nuclear Imaging Systems

        6. 5.1.1.6 Cardiac Monitors

        7. 5.1.1.7 Respiratory Monitors

        8. 5.1.1.8 Hemodynamic Monitors

        9. 5.1.1.9 Multipara Monitors

        10. 5.1.1.10 Digital Thermometers

        11. 5.1.1.11 Others

      2. 5.1.2 Invasive Products

        1. 5.1.2.1 Endoscopes

        2. 5.1.2.2 Pacemakers

        3. 5.1.2.3 Implantable Cardioverter Defibrillator (ICD)

        4. 5.1.2.4 Implantable Loop Recorders

        5. 5.1.2.5 Spinal Cord Stimulator

        6. 5.1.2.6 Spinal Cord Stimulator

        7. 5.1.2.7 Others

    2. 5.2 By Application

      1. 5.2.1 Diagnostics

      2. 5.2.2 Monitoring

      3. 5.2.3 Therapeutics

    3. 5.3 By End User

      1. 5.3.1 Hospitals & Clinics

      2. 5.3.2 Ambulatory Surgical Centers

      3. 5.3.3 Others

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Mexico

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 France

        4. 5.4.2.4 Italy

        5. 5.4.2.5 Spain

        6. 5.4.2.6 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 Australia

        5. 5.4.3.5 South Korea

        6. 5.4.3.6 Rest of Asia-Pacific

      4. 5.4.4 Middle-East and Africa

        1. 5.4.4.1 GCC

        2. 5.4.4.2 South Africa

        3. 5.4.4.3 Rest of Middle-East and Africa

      5. 5.4.5 South America

        1. 5.4.5.1 Brazil

        2. 5.4.5.2 Argentina

        3. 5.4.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Medtronic PLC

      2. 6.1.2 GE Healthcare

      3. 6.1.3 Koninklijke Philips N.V.

      4. 6.1.4 Siemens Healthcare GmbH

      5. 6.1.5 Fujifilm Corporation

      6. 6.1.6 McKesson Corporation

      7. 6.1.7 TE Connectivity

      8. 6.1.8 Hologic Inc

      9. 6.1.9 Cypress Semiconductor Corporation

      10. 6.1.10 Tekscan Inc.

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments

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Frequently Asked Questions

The Medical Electronics Market market is studied from 2018 - 2026.

The Medical Electronics Market is growing at a CAGR of 6.3% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Medtronics plc, GE Healthcare, Koninklijke Philips N.V., Siemens Healthcare GmbH, Fujifilm Corporation are the major companies operating in Medical Electronics Market.

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