Global Medical Electronics (Therapeutic & Diagnostics) Market, Competition, Forecast & Opportunities, 2024

DUBLIN, Nov. 27, 2019 /PRNewswire/ -- The "Global Medical Electronics Market By Product Type (Therapeutic & Diagnostics), By End-user (Hospital, Ambulatory Surgical Center, Clinic & Others), By Region (North America, Europe, Asia-Pacific & Others), Competition, Forecast & Opportunities, 2024" report has been added to's offering. The 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 the increasing demand for advanced healthcare facilities and growing geriatric population across the globe were analysed.
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 the global medical electronics market.
Moreover, rising number of lifestyle diseases and favorable regulatory policies for the expansion of the medical electronics industry are further anticipated to positively influence the global medical electronics market through 2024. The 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.The diagnostics segment acquires the majority share in the market, owing to increasing awareness regarding benefits of early diagnosis. The therapeutic segment is anticipated to witness the fastest growth in the 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. The hospital segment acquired the majority share in the 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.
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