Medical Electronics Market worth $8.8 billion by 2026

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MarketsandMarkets Presents

Medical Electronics Market worth 8.8 billion by
2026 Medical Electronics Market with Covid-19
Impact Analysis by Component (Sensors, MCUs/MPUs,
Displays), Device Classification (Class I, Class
II, Class III), Application (Diagnostic,
Cardiology, Flow Measurement), and Region -
Global Forecast to 2026 https//www.marketsandmar
kets.com/Market-Reports/medical-electronics-market
-104528355.html
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According to the new market research
report "Medical Electronics Market with Covid-19
Impact Analysis by Component (Sensors, MCUs/MPUs,
Displays), Device Classification (Class I, Class
II, Class III), Application (Diagnostic,
Cardiology, Flow Measurement), and Region -
Global Forecast to 2026", published by
MarketsandMarkets, the market is expected to
reach USD 8.8 billion by 2026 from USD 6.3
billion in 2021, at a CAGR of 6.9 during
2021-2026 period. The rapid growth of the
global medical electronics market is attributed
to the some of the driving factors such as the
aging population and increasing life expectancy ,
increasing adoption of IoT-based smart medical
devices, escalating demand for portable medical
devices and wearable electronics, growing use of
radiation therapy in diagnosis and treatment of
diseases and existing favorable healthcare
reforms and financial assistance by governments
for senior citizens. Browse 222 market data
Tables and 88 Figures spread through 304 Pages
and in-depth TOC on "Medical Electronics Market
with Covid-19 Impact Analysis by Component
(Sensors, MCUs/MPUs, Displays), Device
Classification (Class I, Class II, Class III),
Application (Diagnostic, Cardiology, Flow
Measurement), and Region - Global Forecast to
2026"
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Sensors to hold largest market share during
forecast period in the medical electronics
market Sensors accounted for the largest market
size for different components in the medical
electronics market. The reduction in the size of
sensors and the adoption of MEMS technology has
opened new application areas for sensors, thereby
surging the demand for these sensors. The market
for flow sensors is projected to grow at the
significant rate during the forecast period owing
to the rising demand for ventilators, respiratory
systems, and other life support systems due to
COVID-19. Ask Free PDF Brochure https//www.mark
etsandmarkets.com/pdfdownloadNew.asp?id104528355
Minimally invasive medical devices is expected
to witness the highest growth rate during the
period 2021 and 2026 The minimally invasive
medical devices are expected to show the highest
growth rate during the forecast period. Minimally
invasive medical devices have transformed
surgical procedures by reducing the size of the
incision, shortening or eliminating hospital
stays, and improving recovery time and overall
outcome of the patients. Minimally invasive
procedures involve the use of laparoscopic,
endoscopic, or catheter-based solutions, which
are becoming more common.
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Americas to hold largest share of medical
electronics market during forecast period The
Americas holds the largest share in the global
medical electronics market. The major factors
driving market growth include the increasing
adoption of connected medical devices, the
growing use of technologically advanced medical
imaging devices, the rising influence of
disruptive technologies such as IoT and AI in the
healthcare sector. Factors such as the rise in
the geriatric population, presence of advanced
healthcare infrastructure, and high healthcare
expenditure are supporting the growth of the
medical electronics market in the
Americas. Request Free Sample Pages https//www.
marketsandmarkets.com/requestsampleNew.asp?id1045
28355 The report profiles key players such as
Analog Devices (US), Texas Semiconductor (US), TE
Connectivity (Switzerland), Medtronic (Ireland),
ST Microelectronics (Switzerland), NXP
Semiconductor (Netherlands),Cypress Semiconductor
Corporation (US),Maxim Integrated Products
(US),ON Semiconductor Corporation (US),Renesas
Electronics Corporation (Japan),and Microchip
Technology (US).
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COVID-19 Impact on the Global Medical Electronics
Market COVID-19 has led to severe health crisis
across the world and several casualties. North
America was one of the worst affected regions in
the world, and the US was hit the most due to
this pandemic. It caused ongoing challenges for
the regions healthcare system as the health
systems were not designed to deal with such a
crisis. The sudden rise in the infections led to
lockdowns, quarantines, border closures, and
halting of economic activities across the region.
This led to disruptions in the supply chain which
negatively affected the supply of essential
medical devices to several countries. The
shortage of ventilators was another challenge
which was faced by countries such as the US,
Canada, and Brazil however, non-conventional
companies such as General Motors (US) and Tesla
(US) stepped in to manufacture low-cost and
efficient ventilators. The pandemic caused
several hardships for companies in the medical
electronics market as the supply was severely
affected due to the lockdown. However, companies
responded well to these constraints and developed
a more resilient supply chain in a few weeks to
fulfill orders for several medical devices. The
impact of COVID-19 on the Americas was hard for
the medical electronics market for a few weeks,
but it started to show some signs of recovery in
the third quarter of 2020. The high demand for
ventilators, respiratory systems, patient
monitoring systems, and imaging systems were the
major reasons for the recovery of the medical
electronics market.
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