Medical Electronics Market Report

Medical Electronics Market Report

Medical Electronics Market Report
Report code - SR3170 Delivery - 2 Weeks
Medical Electronics Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth See more...

Market Insights

“The global medical electronics market is expected to grow from USD 10.6 billion in 2024 to USD 16.32 billion by 2030, at a healthy CAGR of 7.47% during 2025-2030.”

Market Dynamics

Introduction:

Medical electronics is a branch of electronics involving the application of medical equipment and instruments to medical functions like research, diagnosis, therapy, and treatment. Electronic devices in the medical field are being used quickly for therapy, diagnosis, and rehabilitation. The rapid technological advancements and growing healthcare awareness have enhanced the market potential for medical electronics. Telehealth in the intensive care unit (ICU), emergency department (ED), hospital ward, and skilled nursing facility are some examples of advanced medical electronics (SNF). Additionally, medical electronic devices offer several other benefits like allowing remote access to health data, precise billing systems, enhanced quality of care, higher correctness of output, simple updating of patient information, and enhanced patient satisfaction, which further fuels the market growth.

 

Market Drivers:

Global Rise in Elderly Population

According to World Health Organization, one in six people worldwide will be aged 60 years or above by 2030, and this number is expected to rise to 2.1 billion by 2050. The global rise in the elderly population will lead to high demand for healthcare services globally. Consequently, the demand for medical electronics is certain to rise. As the elderly population grows, they typically require constant and regular monitoring of vital signs like blood pressure, blood glucose, and heart rate, generating a higher demand for medical electronic devices like wearable devices, heart monitors, and glucose monitoring systems. Thus, the aging population coupled with growing cases of chronic diseases, is creating a significant demand for reliable and easy-to-use medical electronic devices, which in turn will foster its market growth.

Growing Adoption of Telemedicine and Remote Patient Monitoring

The growing adoption of telemedicine and remote patient monitoring is likely to drive the growth of the medical electronics market. Telehealth consultation and remote patient monitoring need IoT-based and technologically sophisticated medical devices to monitor, diagnose, and treat patients. Moreover, remote care fills the gap in areas with a scarcity of specialists or advanced health centers. The rising trend of telemedicine assists in the management of various chronic conditions as well as healthcare services in urban as well as rural regions of various countries worldwide, generating a high demand for medical electronic devices.

 

Market Challenges:

High Cost of Manufacturing Medical Devices

The high cost of manufacturing medical devices is a significant challenge faced by this market. The process of research and development, including conceptualization, prototyping, testing, and compliance with regulations, involves a great deal of investment. In addition, specialized machinery, skilled personnel, and compliance with strict regulatory requirements are critical factors in the development of medical devices. Small-scale business enterprises possess only limited funds at their disposal, and due to these limited available fund, medical electronics market development can be undermined.

 

Recent Product Development: 

  • In July 2024, FUJIFILM Holdings Corporation introduced the APERTO Lucent™ 0.4T Open MRI system in the United States. The MRI system is based on Fujifilm's permanent magnet technology and incorporates a single-pillar design as well as a wide, laterally moving table to provide patient comfort. The APERTO Lucent is created to meet the demands of contemporary imaging with technologies like RADAR motion compensating pulse sequence, which minimizes rescans. 
  • In February 2024, Analog Devices, Inc. (ADI) partnered with Taiwan Semiconductor Manufacturing Company (TSMC) through its subsidiary Japan Advanced Semiconductor Manufacturing, Inc., to gain long-term advanced technology node wafer capacity, bolstering ADI's hybrid manufacturing ecosystem and improving its position to satisfy customers' needs. This partnership is to assist ADI in securing a stable supply of advanced technology nodes, boosting its capability to serve the high-performance and precision demands of the medical electronics market. 
 

Market Segments' Analysis

Segmentations

List of Sub-Segments

Segments with High-Growth Opportunity

 Component Analysis

Sensors, Batteries, Displays, MCUS/MPUS, and Memory

Sensors segment is anticipated to grow at the highest rate.

Medical Device Type Analysis

Diagnostic & Imaging Devices, Patient Monitoring Devices, Active Medical Implantable Devices, Ventilators & RGM Equipment, Surgical Robotic Systems, And Other Medical Devices

Patient Monitoring Device segment is expected to maintain its dominance during the forecast period.

Medical Procedure Analysis

Non-Invasive, Minimally Invasive, and Invasive

Non-Invasive segment is anticipated to grow at a faster rate during the forecast period.

Medical Facility Analysis

Hospitals & Clinics, Nursing Homes, Assisted Living Facilities, Long-Term Care Centers, and Home Care Settings, and Other Medical Facilities

Hospitals & Clinics segment held the largest share in the medical electronics market by medical facility type.

Regional Analysis

North America, Europe, Asia-Pacific, and The Rest of the World

North American region accounted for the largest share of the medical electronics market.

By Component Type

“Sensors segment is anticipated to grow at a faster rate during the forecast period.”

By component type, the medical electronics market is segmented into sensors, batteries, displays, MCUs/MPUs, and memory. The sensors segment is anticipated to grow at a faster rate in the coming years, driven by the technological advancements in medical devices, which incorporate advanced sensors. These advanced medical devices heavily rely on sensors such as temperature, pressure, blood glucose, heart rate, etc. Sensors are a key component in various medical devices such as wearable health monitors, implantable devices, and diagnostic devices. The rate of IoT technology adoption and the rising need for remote patient monitoring solutions have further driven the role of sensors in medical electronics.

 

By Medical Device Type

“Patient Monitoring Device segment is expected to maintain its dominance during the forecast period.”

By Medical Device type, the medical electronics market is divided into diagnostic & imaging devices, patient monitoring devices, active medical implantable devices, ventilators & RGM equipment, surgical robotic systems, and other medical devices. The Patient Monitoring Device segment is expected to maintain its dominance during the forecast period. The growing incidence of various chronic diseases like cardiac, respiratory, and diabetes etc., is generating the demand for continuous monitoring during the treatment process. The patient monitoring devices assist in controlling and mitigating health risks. These devices are frequently used in several different medical facilities as well as in-home healthcare. Moreover, trends like telemedicine are also driving the demand for remote patient monitoring solutions, enabling healthcare providers to track patient health metrics in real-time.

 

Regional insights

“North America accounted for the largest share of the satellite communication market.”

In terms of region, the medical electronics market is segmented into the North American region, the European region, the Asia-Pacific region, and the rest of the world. North America accounted for the largest share of the medical electronics market, driven by its increasing healthcare expenditure, advanced medical infrastructure, and robust research & development. The advanced medical technologies are increasingly being embraced in this region at a quick pace, enabling the invention of more improved devices used in the treatment of patients. Moreover, significant investments in healthcare services and the presence of the major key players of this market drives the growth of the medical electronics in the region. 

Key Players

Most of the major players compete in some of the factors, including price, service offerings, regional presence, etc. The following are the key players in the Medical Electronics Market -  

  • Analog Devices, Inc.
  • TE Connectivity
  • Texas Instruments Incorporated
  • NXP Semiconductors
  • Samsung
  • Semiconductor Components Industries, LLC
  • LG Display Co., Ltd.
  • AUO Corporation
  • Ultralife Corporation
  • Panasonic Holdings Corporation

Note: The above list does not necessarily include all the top players in the market.

Are you a leading player in this market? We would love to include your name. Please write to us at [email protected]

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept so that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

  • Market structure: Overview, industry life cycle analysis, supply chain analysis.
  • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
  • Market trend and forecast analysis.
  • Market segment trend and forecast.
  • Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
  • COVID-19 impact and its recovery curve.
  • Attractive market segments and associated growth opportunities.
  • Emerging trends.
  • Strategic growth opportunities for the existing and new players.
  • Key success factors.

 

The Medical Electronics market is segmented into the following categories 

Medical Electronics Market, by Component Type

  • Sensors (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
  • Batteries (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
  • Displays (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
  • MCUs/MPUs (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
  • Memory Chips (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

Medical Electronics Market, by Medical Device Type

  • Diagnostic & Imaging Devices (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
  • Patient Monitoring Device (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
  • Active Medical Implantable Devices (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
  • Ventilators & RGM Equipment (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
  • Surgical Robotic Systems (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
  • Other Medical Device (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

Medical Electronics Market, by Medical Procedure Type

  • Non-Invasive (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
  • Minimally Invasive (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
  • Invasive (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

Medical Electronics Market, by Device Classification Type

  • Class I (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
  • Class II (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
  • Class III (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

Medical Electronics Market, by Medical facilit Type

  • Hospitals & clinics (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
  • Nursing Homes, Assisted Living Facilities, Long-Term Care Centers, and Home Care Settings (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
  • Other Medical Facilities (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

Medical Electronics Market, by Region

  • North America (Country Analysis: The USA, Canada, and Mexico)
  • Europe (Country Analysis: Germany, France, Italy, The UK, and Rest of Europe)
  • Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
  • Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)

 

 

Research Methodology

  • This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s Medical Electronics market realities and future market possibilities for the forecast period. 
  • The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
  • The vital data/information provided in the report can play a crucial role for market participants and investors in identifying the low-hanging fruits available in the market and formulating growth strategies to expedite their growth process.
  • This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
  • More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
  • We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

  • Detailed profiling of additional market players (up to three players)
  • SWOT analysis of key players (up to three players)

Competitive Benchmarking

  • Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across industries. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected] 

 

 

Frequently Asked Questions (FAQ)

The medical electronics market involves the development and production of electronic devices used in healthcare for diagnostics, monitoring, therapy, and surgery. These technologies enhance patient care and treatment efficiency across hospitals, clinics, and home settings. Market growth is driven by advancements in medical technology and increased adoption of digital and wireless solutions.

The forecasted value for the market is US$ 16.32 billion in 2030.

The global medical electronics market is expected to grow from USD 10.6 billion in 2024 to USD 16.32 billion by 2030, at a healthy CAGR of 7.47% during 2025-2030, driven the technological advancements in the healthcare industry and increasing healthcare expenditure.

The key drivers of the medical electronics market include the Global Rise in Elderly Population and the Growing Adoption of Telemedicine and Remote Patient Monitoring.

The top players in the medical electronics market include Analog Devices, TE Connectivity, Texas Instruments Incorporated, NXP Semiconductors, Samsung, Semiconductor Components Industries, LG Display Co., AUO Corporation, Ultralife Corporation, and Panasonic Holdings Corporation.

The North America region is the fastest-growing market for Medical Electronics, driven by its increasing healthcare expenditure, advanced medical infrastructure, and robust research & development.