The medical electronics market was valued at USD 3.01 Billion in 2015 and is expected to reach USD 4.41 Billion by 2022, growing at a CAGR of 5.4% between 2016 and 2022.

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.

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In this report, the medical electronics market has been segmented on the basis of component, product type, application, and geography. The medical electronics market has been segmented on the basis of component into batteries, sensors, microcontrollers, memory devices, and displays. 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.

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The medical electronics market has been segmented on the basis of application into diagnostics, monitoring, and treatment. The rising adoption of telemetry and remote monitoring has fuelled the growth of the patient monitoring application. 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.

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 medical electronics 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. With the rise in data security threats and legal claims from patients, more technologically safe and data secured devices need to be deployed in the market to meet the medical infrastructural needs of the society.

The major restraint that acts as barrier for the growth of medical electronics market includes the stringent regulatory process for product approval and high maintenance and refurbishment costs. The medical electronics market is highly affected by the legislation and initiatives such as increasing clinical trial requirements for new products from the governments and regulatory authorities. Currently, medical device manufacturers are required to submit design validations to the Food and Drug Administration (FDA), US for the premarket approval. These regulatory aspects are likely to hinder the growth of the medical electronics market during the forecast period.

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Texas Instruments (U.S.), one of the largest medical electronics companies in the world, is serving customers across the spectrum of healthcare applications. The company has a wide product portfolio catering to the medical electronics market, which includes sensors, microcontrollers, DSPs, memory devices, and more. Also, the company offers solutions for medical, healthcare, and fitness applications that include several devices such as anaesthesia delivery systems, AEDs, blood pressure monitors, CPAP machines, dialysis machines, pulse oximeters, ECG monitors, endoscopes, CT scanners, ultrasound systems, X-ray machines, and MRI systems. Presently, the company sells its products in over 100 countries, which is responsible for its leading position in the medical electronics market.