Medical Electronic Market to Exceed USD 19.53 Billion by 2032 Due to Healthcare Tech Advancements & Chronic Disease Rise

The Medical Electronics Market has rapidly surged, driven by tech advancements and increased demand for personalized healthcare solutions. AUSTIN, TX, UNITED STATES, January 29, 2025 /EINPresswire.com/ -- Market Size & Industry Insights

According to the SNS Insider Report,“The Medical Electronic Market size was USD 10.45 Billion in 2023 and is expected to reach USD 19.53 Billion by 2032, growing at a CAGR of 7.2% over the forecast period of 2024-2032.”

Expanding Market for Medical Electronics Driven by Technological Advancements

The medical electronics market has grown rapidly, driven by an aging population, rising chronic diseases, and technological innovations. Key products include implantable devices, monitoring equipment, and imaging devices. These are applied in hospitals, clinics, and home care. Other advances that enhance healthcare delivery, allow for remote monitoring, and provide comfort to patients include wireless connectivity, AI integration, and telemedicine. Regulatory bodies, such as the FDA and EMA, monitor device safety and efficacy as the demand for these technologies continues to increase. The market will continue to grow as the procedures and technologies continue to improve.

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SWOT Analysis of Key Players as follows:
- FUJIFILM Holdings Corporation
- CANON MEDICAL SYSTEMS CORPORATION
- Koninklijke Philips N.V.
- MCKESSON CORPORATION
- iCAD Inc.
- Siemens Healthineers AG
- GE Healthcare
- Analog Devices Inc.
- Texas Instruments Incorporated
- Biotronik
- STMicroelectronics
- Medtronic
- Abbott Laboratories
- Johnson & Johnson
- Roche Diagnostics

Segment Analysis

By application segment

In 2023, Diagnostic Imaging dominates the medical electronics market, driven by the essential role of devices like MRI machines, X-rays, and ultrasound equipment. These technologies are necessary for early detection of diseases, proper diagnosis, and better results in patients. The extensive adoption in healthcare facilities—hospitals, clinics, and diagnostic centers has enhanced the growth in the market. Further, advancements in medical imaging technology with improved accuracy and efficiency is bound to have its demand persistently fueling the expansion of the market.

By medical procedure

Non-invasive procedures lead the medical electronics market, driven by the growing preference for non-surgical treatments and early diagnosis. The devices include ECG monitors, blood pressure monitors, and glucose meters. They are used in hospitals, clinics, and home care settings to monitor the health of patients. Such technologies offer easy, affordable means of continuous monitoring of patients' health conditions for early detection of possible health issues. As comfort and ease of use become a concern for patients, non-invasive devices are increasingly sought after, which in turn fuels their market dominance.

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KEY MARKET SEGMENTS:

By Component
Sensors
Batteries
Displays
MPUs/MCUs
Memory Chips
Others

By Application
Imaging
Therapeutics
Homecare/Handheld Products
Patient Monitoring

By End User
Hospitals
Ambulatory Surgical Centers
Home Care
Others

Regional Analysis

In 2023, the North American medical electronics market is highly advanced, largely due to the region’s sophisticated healthcare system, high healthcare spending, and commitment to technological innovation. The United States, in particular, plays a vital role in this sector with advanced healthcare infrastructure and a high demand for innovative medical electronics products. The primary drivers for market growth in North America are the rising prevalence of chronic diseases, an aging population, and a focus on cutting-edge diagnostics and treatment options. Favorable reimbursement policies and strong regulatory standards further propel the adoption of medical electronics.

Europe also represents a significant market for medical electronics, driven by its robust healthcare systems in the forecasted period, stringent quality standards, and government support for innovation. Germany, the UK, France, and Italy remain the leaders in Europe in research and development, high-quality patient care, and cutting-edge medical procedures. The increasing elderly population, rising healthcare spending, and the increasing adoption of digital health solutions are some of the key factors driving the growth of the medical electronics market in Europe.

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Recent Developments

-In July 2024, Fujifilm Holdings Corporation introduced the APERTO Lucent, a 0.4T open MRI system, incorporating permanent magnet technology and enhanced workflow features.
-In May 2024, Canon launched the first Aquilion Serve SP CT scanner in the U.S., equipped with INSTINX workflow automation, combining advanced imaging capabilities with greater efficiency and consistency.

TABLE OF CONTENT - Key Points

Chapter 1. Introduction

Chapter 2. Executive Summary

Chapter 3. Research Methodology

Chapter 4. Market Dynamics Impact Analysis

Chapter 5. Statistical Insights and Trends Reporting

Chapter 6. Competitive Landscape

Chapter 7. Medical Electronic Market Segmentation, by Component

Chapter 8. Medical Electronic Market Segmentation, by Application

Chapter 9. Medical Electronic Market Segmentation, by End User

Chapter 10. Regional Analysis

Chapter 11. Company Profiles

Chapter 12. Use Cases and Best Practices

Chapter 13. Conclusion

Continued…

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Akash Anand
SNS Insider
+1 415-230-0044
[email protected]

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