Hospitals segment to dominate the United States Medical Electronics Market
Rise in number of diagnostic imaging centres and hospitals is expected to drive the demand for United States medical electronics market for the forecast period.
According to TechSci Research report, “United States Medical Electronics Market By Product Type (Diagnostics v/s Therapeutics) By End User (Hospitals, Ambulatory Surgical Centers, Clinics, Others) By Company, By Region, Forecast & Opportunities, 2026”, The United States medical electronics market is expected to witness significant growth for the next five years. Growing adoption of advanced diagnostic imaging modalities and rise in demand for effective diagnostic procedures is expected to drive the medical electronics market for the forecast period. Increasing geriatric population and rise in the number of associated diseases is expected to influence the growth of the medical electronics market. Increase in prevalence of respiratory diseases due to lifestyle changes and growing environmental pollution is expected to boost the therapeutic treatment. Huge number of people suffer from chronic obstructive pulmonary disease in United States and requires effective respiratory care devices for quick treatment and faster recovery. High demand for imaging equipment in healthcare facilities as it provides visual representation of the internal body to facilitate diagnosis and treatment of the body. Launch of portable and handheld medical devices by the major market players is expected to spur the growth of the medical electronics market. Handheld devices such as oximeters, ultrasound systems, thermometers and glucometers are in high demand in United States for purpose of quick diagnosis at home and take necessary steps for treatment in case of emergency. Rise in demand for minimally invasive surgeries and treatment as they require shorter hospital stays, leave fewer scars by reducing the size of incision and have faster recovery time is contributing significantly to accelerate the growth of the medical electronics market.
The COVID-19 outbreak across the world which has been declared as pandemic by World Health Organization has affected countries adversely. Leading authorities in United States imposed lockdown restrictions and released a set of precautionary measures to contain the spread of novel coronavirus. Coronavirus affected patients started suffering from shortness of breath along with coughing and sneezing which created lucrative opportunities for the growth of the medical electronics market. United States authorities increased the capacity of hospitals as a greater number of patients were getting affected daily and getting admitted into the hospital facilities. The demand for critical care devices increased during this period. Disruption in the supply chain was observed and shortage of ventilators was found due to huge demand from healthcare industry. High demand for imaging systems, respiratory care devices and patient monitoring systems is fueling the market growth during this period. Collaborations between the healthcare and non-healthcare industries to increase the production of medical electronics is expected to foster the growth of the medical electronics market.
However, strict regulation and policies may create hindrance in the growth of the medical electronics market.
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United States medical electronics market is segmented into product type, end user, regional distribution, and company.
Siemens Medical Solutions USA Inc., Philips Healthcare (USA), Boston Scientific Corporation, Medtronic USA, Inc., GE Healthcare, Canon U.S.A. Inc., Johnson & Johnson, Zoll Medical Corporation, Integers Holding Corporation, Cala Health, Inc. are the leading players operating in United States medical electronics market. Manufacturers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several medical electronics manufacturers are coming up with their technologically advanced offerings.
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“Market players are investing huge amounts for development of medical electronics by advancement of sensors and develop of digital technology to create lucrative opportunities for the growth of the market. Implementation of internet of medical things (IoMT) which is a connected infrastructure of software applications, medical devices and health systems and services as the need for real-time monitoring of patients is on rise to get more effective results of medical treatment. Proliferation of smart devices equipped with advanced communication and computational technology to enable remote monitoring of patients and collection of data to provide effective treatment to patients is expected to propel the medical electronics market growth until 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“United States Medical Electronics Market By Product Type (Diagnostics v/s Therapeutics) By End User (Hospitals, Ambulatory Surgical Centers, Clinics, Others) By Company, By Region, Forecast & Opportunities, 2026” has evaluated the future growth potential of United States medical electronics market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of United States medical electronics market.
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