Rising healthcare spending and ever-changing healthcare landscape are key factors driving medical electronics market revenue growth.
Market Size – USD 6.20 Billion in 2021, Market Growth – at a CAGR of 6.90%, Market Trends – Increasing adoption of IoT-based smart medical devices
The global medical electronics market size was USD 6.20 Billion in 2021 and is expected to register a revenue CAGR of 6.90% during the forecast period, according to latest analysis by Emergen Research. Increasing prevalence of numerous chronic illnesses such as diabetes, cancer, cardiovascular illness, and chronic obstructive pulmonary disease (COPD) is the leading cause of increased usage of medical electronics, which is driving market revenue growth.
The latest study unravels the unfavorable impacts of the COVID-19 pandemic on the global Medical Electronics business sector. According to our expert team, the coronavirus outbreak has had an overwhelming impact on the global economic landscape, and consequently, on this business vertical. The pandemic is expected to contribute to the potential downturn of the Medical Electronics industry substantially. Reportedly, this sector has been financially beleaguered since the COVID-19 lockdown restrictions were put into effect. Hence, the report highlights the financial obstacles that have slowed numerous businesses’ progress in this sector and disrupted the global supply chains.
Some Key Highlights From the Report
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Emergen Research has segmented the global medical electronics market based on component, procedure, application, end-use, and region:
Competitive Overview:
The global Medical Electronics market report closely studies the functioning mechanisms of the key companies participating in the global market. These companies are said to be following a slew of business expansion strategies to reinforce their financial positions in this market. As per the report, these companies account for a major portion of the overall Medical Electronics market share. Therefore, this section of the report emphasizes the principal strategic initiatives led by these companies, including mergers & acquisitions, joint ventures, new business deals, new product launches, collaborations, technological upgradation, and several others.
Key Market Players:
Renesas Electronics Corporation, Siemens, General Electric Company, Semiconductor Components Industries, LLC., Texas Instruments Incorporated, STMicroelectronics, Koninklijke Philips N.V., Tekscan, Inc., NXP Semiconductor, and Medtronic.
Geographical Terrain of the Medical Electronics Market:
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Key highlights of the report:
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trend’s existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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