Global Medical Electronics Market: Overview
A branch of electronics that deals with the implementation, design and the use of the electrical equipment and devices that are used for the medical purposes such as examination, research, treatment, diagnosis, care, and assistance are known as medical electronics. The medical electronics branch uses the concepts of both biomedical and electronics. The biomedical devices that are portable help in a move the medical products from hospitals to houses so that it is accessible to users. These devices ensure that both the patients and the doctor stay in touch with one another.
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Global Medical Electronics Market: Segmentation
The medical electronics market is globally segmented into its product type, application, and component. On the basis of the product type, the global market is segregated into noninvasive and invasive. Based on the application, the market is categorized into treatment, diagnosis, and monitoring. Depending on the component, the medical electronics market is divided into batteries, displays, sensors, memory devices, and MCUs/DSPs.
Global Medical Electronics Market: Growth Factors
The medical electronics market is a growing market owing to factors such as increasing demand for advanced healthcare facilities, high availability of electronic components, increasing aging population, growing health consciousness and rising number of lifestyle diseases. The rapid urbanization has resulted in an increase in the level of income and better living standards which have directly impacted the medical electronics market positively. Other benefits include better quality of healthcare services, availability of remote health data, ease of updating patient’s electronic records and efficient billing mechanism. Though there may be many beneficial aspects, it also has some negative features which include high prices, a decrease in the productivity of the medical professionals, learning difficulties, lack of standard terminologies and issues arising from violation of the patient data security.
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Global Medical Electronics Market: Regional Analysis
Region-wise, the global medical electronics market is diversified into North America, Latin America, Europe, Asia-Pacific, and the Middle East and Africa. North America dominated the medical electronics market. The factors that attributed to the market growth are the advanced healthcare technology, increasing awareness among the patients, increasing investments on the healthcare, favorable reimbursement policies, and the supportive regulations by the government. North America is followed by the Asia Pacific region. The factors that contribute towards the market growth include the increasing pool of patients, the improved healthcare system, increased rate of diseases, and the high disposable income. Europe is also contributing a good share in the global market of medical electronics owing to the factor that there is good support from the government to improve the health sector within the region.
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Global Medical Electronics Market: Competitive Players
The key market players in the medical electronics market include Siemens AG, Angiotech Pharmaceuticals, Inc., Maxim Integrated, Fairchild Semiconductor International, Inc., STMicroelectronics N.V., Cypress Semiconductor Corporation, Analog Devices, GE Healthcare, Texas Instruments Incorporated, ON Semiconductor Corporation, Freescale Semiconductor, Inc., and Biotronik GMBH & CO.KG.
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