[209 Pages Report] The medical electronics market
was valued at USD 3.01 Billion in 2015 and is expected to reach USD 4.41 Billion
by 2022, at a CAGR of 5.4% during the forecast period.
The base
year considered for this study is 2015 and the forecast period has been
considered between 2016 and 2022. The demand for advanced healthcare solutions
has played a prominent role in the growth of the medical electronics market
worldwide. The market has major opportunities for growth owing to the rising
importance of medical electronics in patient tracking as well as other
monitoring activities.
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Factors such
as the growing standard of living, increasing aging population, rising health
awareness, and increasing adoption of wearable electronics are driving the
growth of the medical electronics market. The growing importance of medical
electronics for patient tracking and other monitoring activities is expected to
drive the growth of the market.
The high
demand for these components is attributed to the increasing demand for imaging
systems in healthcare facilities and the dominance of healthcare therapeutics.
The medical electronics batteries market is expected to experience sustained
growth owing to technological advancements and booming regional demand. The
growth of the market for medical electronics battery will be driven by the
increasing acceptance of wireless medical devices and continuing innovation,
especially in high energy density batteries for wearable medical devices.
The capacity
of these devices to monitor patients from long distances, perform
intraoperative procedures, and prescribe treatments to patients has help
reduced patients’ discomfort. The market for monitoring devices 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.
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North
America held the largest share of the medical electronics market during the
forecast period and is expected to grow at a significant CAGR. The market in
North America for medical electronics is driven by various factors such as
improved healthcare 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. The
medical electronics market in North America is expected to be driven by
technological innovations, cost effectiveness, and technological platform
portability with other medical equipment.
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