Medical Electronics Market - Global Forecast to 2022

“The global medical electronics market to grow at a high rate”
The global medical electronics market is expected to reach USD 4.41 billion by 2022, growing at a CAGR of 5.4% between 2016 and 2022. The medical electronics market is expected to grow rapidly owing to factors such as rising ageing population and growing lifestyle diseases; rising demand for personalized, easy to use, and advanced healthcare devices; and increasing adoption of wearable electronics. The major restraint that acts as barrier for the growth of medical electronics market includes stringent regulatory process for product approval and high maintenance and refurbishment costs. The medical electronics market is highly affected by the legislation and initiatives such as increasing clinical trial requirements for new products from the governments and regulatory authorities. Over the years, the medical device approval guidelines and regulations across the world have become more stringent to minimize errors associated with medical devices.

‘Monitoring application is expected to grow at the highest rate during the forecast period’
The medical electronics market has been segmented on the basis of application into diagnostics and monitoring, Monitoring devices market is expected to grow at the highest rate because of the increasing use of patient monitoring devices in outpatient care departments, ambulatory care centers, and home care settings. Factors such as increasing market penetration rates of the portable medical devices which are used in home healthcare establishments and an increasing trend towards remote patient monitoring are also expected to contribute to the growth of the medical electronics market for patient monitoring applications in the coming years.
“North America held the largest market share in the medical electronics market during 2015”
Among all the geographic regions, North America is considered to be the largest market for medical electronics. The market in North America for medical electronics is driven by various factors such as improved health care infrastructure and increasing demand for medical electronics in the region. In addition, technological advancements in medical device technology have propelled the growth of the market in North America. Moreover, the rising demand for medical electronics in home treatment and the presence of well-structured distribution channels in the region are aiding market growth.
The market in APAC is expected to grow at the highest rate during the forecast. The greater utilization of medical devices in various clinical diagnosis, monitoring and therapeutic procedures is expected to drive the adoption of medical electronics among healthcare providers in the APAC region.
The breakup of primaries conducted during the study has been depicted below.
By Company Type: Tier1 Companies - 50%, Tier 2 Companies – 33%, and Tier 3 Companies – 17%
By Designation: C-level Executives- 34%, Directors - 33%, and Others- 33%
By Region: North America- 50%, Europe- 33%, and Asia-Pacific- 17%
The key players in the medical electronics market are Philips Healthcare (Netherlands), Siemens Healthcare (Germany), Medtronic Plc. (Ireland), Analog Devices, Inc. (U.S.), NXP Semiconductors N.V. (Netherlands), STMicroelectronics N.V. (Switzerland), GE Healthcare, Inc. (U.S),and Texas Instruments (U.S)
Study Coverage
The scope of this report covers the medical electronics market on the basis of component, product type, application and geography. The medical electronics market on the basis of component has been further segmented into sensor, battery, memory chips, displays and microcontrollers. The report has been segmented on the basis of application into monitoring and diagnosis. Similarly, product type has been further segmented into invasive and non invasive. The medical electronics report on the basis of geography has been segmented into North America, Europe, APAC, and the Rest of the World.

Key benefits of buying the report:
‧ This report includes the market statistics pertaining to components, product, application, and geography along with their respective market size.
‧ The Porter’s Five Forces framework has been utilized along with the value chain analysis to provide an in-depth insight into the medical electronics market.
‧ Major drivers, restraints, and opportunities for the medical electronics market have been detailed in this report.
‧ Illustrative segmentation, analysis, and forecast for the markets on the basis of components, product, application, and geography have been conducted to give an overall view of the medical electronics market.
‧ A detailed competitive landscape includes key players, in-depth analysis, and ranking of key players.
The available customizations for the report can offer further country-wise segmentation of the medical electronics market in terms of value, further breakdown of the industry can be provided, and profiling of any additional companies in the report.

TABLE OF CONTENTS

1 INTRODUCTION 18
1.1 OBJECTIVES OF THE STUDY 18
1.2 MARKET DEFINITION 18
1.3 STUDY SCOPE 19
1.3.1 MARKETS COVERED 19
1.3.2 YEARS CONSIDERED FOR THE STUDY 20
1.4 CURRENCY 20
1.5 LIMITATIONS 21
1.6 STAKEHOLDERS 21
2 RESEARCH METHODOLOGY 22
2.1 RESEARCH DATA 22
2.1.1 SECONDARY DATA 23
2.1.1.1 Key data from secondary sources 23
2.1.2 PRIMARY DATA 23
2.1.2.1 Key data from primary sources 24
2.1.2.2 Key industry insights 24
2.1.3 BREAKDOWN OF PRIMARIES 25
2.2 MARKET SIZE ESTIMATION 25
2.2.1 BOTTOM-UP APPROACH 26
2.2.2 TOP-DOWN APPROACH 27
2.2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 28
2.3 RESEARCH ASSUMPTIONS 29
3 EXECUTIVE SUMMARY 30
4 PREMIUM INSIGHTS 34
4.1 ATTRACTIVE OPPORTUNITIES FOR THE MEDICAL ELECTRONICS MARKET 34
4.2 BATTERIES HELD THE LARGEST SHARE OF THE MEDICAL ELECTRONICS MARKET BASED ON COMPONENTS IN 2015 35
4.3 LIFE CYCLE ANALYSIS, BY REGION 36
5 MARKET OVERVIEW 38
5.1 INTRODUCTION 39
5.1.1 EVOLUTION OF MEDICAL ELECTRONICS 39
5.2 MARKET SEGMENTATION 40
5.2.1 MARKET, BY PRODUCT 40
5.2.2 MARKET, BY COMPONENT 40
5.2.3 MARKET, BY APPLICATION 41
5.2.4 MARKET, BY GEOGRAPHY 41
5.3 MARKET DYNAMICS 42
5.3.1 DRIVERS 43
5.3.1.1 Rising aging population and growing lifestyle diseases 43
5.3.1.2 Rising demand for personalized, easy to use, and advanced healthcare devices 44
5.3.1.3 Increasing adoption of wearable electronics 44
5.3.1.4 Increasing use of radiation therapy in treatments and diagnosis of diseases 44
5.3.2 RESTRAINTS 45
5.3.2.1 High maintenance and refurbishment costs 45
5.3.2.2 Stringent regulatory processes for product approvals 45
5.3.2.3 Unfavorable healthcare reforms in the U.S. 46
5.3.3 OPPORTUNITIES 46
5.3.3.1 Emerging markets offer significant growth opportunities 46
5.3.4 CHALLENGES 47
5.3.4.1 Increasing patient safety risks and occurrence of medication errors associated with medical devices 47
5.3.4.2 Lack of product differentiation 47
5.4 MEDICAL ELECTRONICS REGULATORY OVERVIEW 48
5.4.1 NORTH AMERICA 48
5.4.1.1 U.S. 48
5.4.1.2 Canada 49
5.4.2 EUROPE 50
5.4.3 APAC 51
5.4.3.1 Japan 51
5.4.3.2 China 52
5.4.4 COMPARISON OF REGULATIONS FOR MEDICAL ELECTRONICS IN SEVERAL COUNTRIES 53
5.4.5 THIRD-PARTY APPROVAL OVERVIEW 53
6 INDUSTRY TRENDS 55
6.1 INTRODUCTION 55
6.2 VALUE CHAIN ANALYSIS 56
6.3 PORTER’S FIVE FORCES ANALYSIS 57
6.3.1 INTENSITY OF COMPETITIVE RIVALRY 58
6.3.2 THREAT OF SUBSTITUTES 59
6.3.3 BARGAINING POWER OF BUYERS 60
6.3.4 BARGAINING POWER OF SUPPLIERS 61
6.3.5 THREAT OF NEW ENTRANTS 62

7 MEDICAL ELECTRONICS MARKET, BY COMPONENT 63
7.1 INTRODUCTION 64
7.2 SENSORS 65
7.2.1 TEMPERATURE SENSORS 69
7.2.2 PRESSURE SENSORS 73
7.2.3 BLOOD GLUCOSE SENSORS 76
7.2.4 BLOOD OXYGEN SENSORS 77
7.2.5 ECG SENSORS 78
7.2.6 IMAGE SENSORS 78
7.2.7 MOTION SENSORS 81
7.2.8 HEART RATE SENSORS 82
7.2.9 TOUCH SENSORS 84
7.3 BATTERIES 87
7.3.1 LITHIUM-ION (LI-ION) BATTERY 88
7.3.2 NICKEL-CADMIUM (NI-CD) BATTERY 88
7.3.3 NICKEL-METAL HYDRIDE (NIMH) BATTERY 88
7.3.4 ALKALINE-MANGANESE BATTERY 89
7.4 MEMORY DEVICES 94
7.4.1 FLASH MEMORY 95
7.4.2 SDRAM 95
7.4.3 EEPROM 95
7.5 DISPLAYS 102
7.5.1 TFT-LCD DISPLAYS 102
7.5.2 OLED DISPLAYS 102
7.5.3 LED DISPLAYS 103
7.6 MICROPROCESSORS/ MICROCONTROLLERS 107
7.6.1 DSP 108
7.6.2 MCU 108
7.6.3 ASIC 108
7.6.4 FPGA 108
8 MEDICAL ELECTRONICS MARKET, BY PRODUCT TYPE 116
8.1 INTRODUCTION 117
8.2 NON-INVASIVE PRODUCTS 118
8.2.1 IMAGING DEVICE 120
8.2.1.1 Magnetic resonance imaging (MRI) scanners 121
8.2.1.2 X-ray scanners 122
8.2.1.3 Computed tomography (CT) scanners 122
8.2.1.4 Ultrasound scanners 122
8.2.1.5 Nuclear imaging systems 123
8.2.1.5.1 Positron emission tomography (PET) 123
8.2.1.5.2 Single-photon emission computed tomography (SPECT) 124
8.2.2 MONITORING DEVICES 124
8.2.2.1 Cardiac monitors 126
8.2.2.1.1 ECG/EKG monitors 127
8.2.2.1.2 Heart rate monitors 127
8.2.2.1.3 Doppler fetal monitors 127
8.2.2.2 Hemodynamic monitors 127
8.2.2.2.1 Blood pressure monitors 128
8.2.2.2.2 Blood glucose monitors 129
8.2.2.2.3 Blood gas monitors 129
8.2.2.3 Respiratory monitors 130
8.2.2.3.1 Pulse Oximeters 131
8.2.2.3.2 Continuous positive airway pressure (CPAP)devices 131
8.2.2.3.3 Sleep apnea monitors 131
8.2.2.3.4 Anesthesia monitors 131
8.2.2.4 Multipara monitors 131
8.2.2.5 Digital thermometers 132
8.3 INVASIVE PRODUCTS 133
8.3.1 ENDOSCOPES 135
8.3.2 PACEMAKERS 135
8.3.3 IMPLANTABLE CARDIOVERTER-DEFIBRILLATORS (ICD) 136
8.3.4 IMPLANTABLE LOOP RECORDERS (ILR) 136
8.3.5 SPINAL CORD STIMULATORS 136
8.3.6 GASTRIC ELECTRIC STIMULATORS 137
9 MEDICAL ELECTRONICS MARKET, BY APPLICATION 138
9.1 INTRODUCTION 139
9.2 DIAGNOSIS 141
9.3 MONITORING 142
9.4 TREATMENT 142
10 GEOGRAPHIC ANALYSIS 143
10.1 INTRODUCTION 144
10.2 NORTH AMERICA 145
10.2.1 U.S. 146
10.2.2 CANADA 147
10.2.3 MEXICO 147
10.3 EUROPE 149
10.3.1 GERMANY 150
10.3.2 FRANCE 150
10.3.3 U.K. 151
10.3.4 ITALY 151
10.3.5 SPAIN 151
10.3.6 REST OF EUROPE 152
10.4 ASIA-PACIFIC 153
10.4.1 CHINA 154
10.4.2 JAPAN 155
10.4.3 INDIA 155
10.4.4 AUSTRALIA 155
10.4.5 REST OF ASIA-PACIFIC 156
10.5 REST OF THE WORLD (ROW) 157
10.5.1 MIDDLE EAST 158
10.5.2 AFRICA 158
10.5.3 SOUTH AMERICA 158
11 COMPETITIVE LANDSCAPE 159
11.1 INTRODUCTION 159
11.2 RANKING OF TOP PLAYERS IN THE MEDICAL ELECTRONICS MARKET, 2015 160
11.3 COMPETITIVE SCENARIO 161
11.4 DEVELOPMENTS 162
11.4.1 NEW PRODUCT LAUNCHES 162
11.4.2 PARTNERSHIPS, AGREEMENTS, & CONTRACTS 163
11.4.3 MERGERS & ACQUISITIONS 164
12 COMPANY PROFILES 165
12.1 INTRODUCTION 165
(Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, Ratio Analysis, MnM View)*
12.2 ANALOG DEVICES, INC. 166
12.3 GE HEALTHCARE PVT. LTD 169
12.4 TEXAS INSTRUMENTS, INC. 172
12.5 STMICROELECTRONICS N.V. 175
12.6 NXP SEMICONDUCTORS N.V. 178
12.7 CYPRESS SEMICONDUCTOR CORPORATION 181
12.8 FAIRCHILD SEMICONDUCTOR INTERNATIONAL, INC. 184
12.9 MAXIM INTEGRATED PRODUCTS, INC. 186
12.10 ON SEMICONDUCTOR CORPORATION 188
12.11 RENESAS ELECTRONICS CORPORATION 190
12.12 SIEMENS AG 193
12.13 PHILIPS HEALTHCARE PVT. LTD. 196
12.14 TEKSCAN, INC. 199
*Details on Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View might not be captured in case of unlisted companies.
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13 APPENDIX 201
13.1 INSIGHTS OF INDUSTRY EXPERTS 201
13.2 DISCUSSION GUIDE 202
13.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 204
13.4 INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE 206
13.5 AVAILABLE CUSTOMIZATIONS 208
13.6 RELATED REPORTS 209