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Global medical electronics market was valued over $ 73 billion in 2018 and is projected to grow at a CAGR of around 8% to reach $ 113 billion by 2024

NEW YORK, May 8, 2019 /PRNewswire/ -- Global Medical Electronics Market By Product Type (Therapeutic and Diagnostics), By End-user (Hospital, Ambulatory Surgical Center, Clinic & Others), By Region (North America, Europe, Asia-Pacific & Others), Competition, Forecast & Opportunities, 2024

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Global medical electronics market was valued over $ 73 billion in 2018 and is projected to grow at a CAGR of around 8% to reach $ 113 billion by 2024 on account of increasing demand for advanced healthcare facilities and growing geriatric population across the globe.Medical electronics refer to those electrical equipment and devices which are used for medical purposes such as examination, diagnosis, treatment and assistance.

Rising healthcare awareness and technological advancements are further expected to boost the growth of global medical electronics market. Moreover, rising number of lifestyle diseases and favorable regulatory policies for the expansion of medical electronics industry are further anticipated to positively influence global medical electronics market through 2024.

Global medical electronics market can be segmented based on product type and end-user.Based on the product type, the market can be bifurcated into diagnostics and therapeutic.

Diagnostics product type includes patient monitoring devices, PET/CT devices, MRI scanners, ultrasound devices, X-ray devices, CT Scanners and others.Diagnostics segment acquires the majority share in the market owing to increasing awareness regarding benefits of early diagnosis.

Therapeutic segment is anticipated to witness the fastest growth in global medical electronics market on account of increasing prevalence of cardiovascular and neurological diseases.In terms of end user, the market can be segmented into hospital, ambulatory surgical centers, clinics and others.

Hospital segment acquired the majority share in global medical electronics market as the hospitals covered under the public healthcare system are equipped with advanced medical devices, which is promoting the growth of medical electronics in this sector.

Regionally, the market for medical electronics is gaining traction and expanding to various regions including, North America, Europe, Asia-Pacific, South America and Middle East & Africa. North America is leading global medical electronics market owing to improved healthcare infrastructure and surging demand for medical electronics in the region.

The major players operating in global medical electronics market include Johnson & Johnson Services, Inc., GE Healthcare Pvt. Ltd, Philips Healthcare Pvt. Ltd., Siemens AG, Medtronic Plc., Baxter International Inc., etc. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments. GE Healthcare and Wipro inked partnership in order to attain effective management, resource mobilization, and higher growth.

Years considered for this report:

Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020–2024

Objective of the Study:

• To analyze and forecast the market size of global medical electronics market.
• To classify and forecast global medical electronics market based on product type, end-user and regional distribution.
• To identify drivers and challenges for global medical electronics market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global medical electronics market.
• To conduct pricing analysis for global medical electronics market.
• To identify and analyze the profile of leading players operating in the global medical electronics market.

Some of the leading players in global medical electronics market are Johnson & Johnson Services, Inc., GE Healthcare Pvt. Ltd, Philips Healthcare Pvt. Ltd., Siemens AG, Medtronic Plc., Baxter International Inc., etc.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of manufacturers across the globe.

Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.

Through this technique, the analyst could include the manufacturers which could not be identified due to the limitations of secondary research. The analyst analyzed the manufacturers, distribution channels and presence of all major players across the globe.
The analyst calculated the market size of global medical electronics market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size.

Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.

Key Target Audience:

• Original device manufacturers (ODMs)
• Government bodies such as regulating authorities and policy makers
• Organizations, forums and alliances related to medical electronics
• Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, global medical electronics market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Market, By Product Type:
o Diagnostics
Patient Monitoring Devices
PET/CT Devices
MRI Scanners
Ultrasound Devices
X-rays Devices
CT Scanners
Others (Hemodynamic Monitors, Cardiac Monitors, etc.)
o Therapeutic
Implantable Cardioverter-Defibrillators
Implantable Loop Recorders
Spinal Cord Stimulators
Surgical Robots
Respiratory Care Devices
Others (Endoscopes, Neurostimulation devices, etc.)
• Market, By End-User:
o Hospital
o Ambulatory surgical centers
o Clinics
o Others
• Market, By Region:
o North America
United States
o Europe
United Kingdom
o Asia-Pacific
South Korea
o South America
o Middle East & Africa
Saudi Arabia
South Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in global medical electronics market.

Available Customizations:

With the given market data, we offers customizations according the company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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