Databeans segments the rapidly growing global medical market into several sub-segments including home devices, imaging electronics, and clinical electronics. This report provides growth projections and major trends for the medical market across all three applications, as well as the four major regional markets. Finally, this report provides detailed analysis of medical chip consumption and supplier share.
The medical electronics sector remains one of the most complex, fragmented, and difficult market segments to compete in, thanks to stringent government regulations and unique supply chain pressures. While innovation is crucial here, medical electronics are unique in that they must be designed for the long term, with many applications requiring long-life platforms that are available for 10 years or more. With this in mind, system developers must select those components that will not only have a life cycle through the longer than usual design cycle (which can exceed 12-months), but also through a potentially lengthy government approval and as many as 10 years of production.
On the plus side, there is a high potential for growth and innovation, thanks to two key factors: increasingly older populations in mature markets and the demand among emerging markets for greater access to good and affordable health care. Both factors are contributing to greater demand for manufacturers to create innovative medical devices that are smarter, faster, and portable for use both in the hospital/clinical environment and also at home by the consumer.
Despite claims to the contrary, the medical electronics semiconductor market has hardly been recession proof, especially in regards to the high volume home medical segment. In fact, the entire medical semiconductor market has largely followed the same ups and downs as the rest of the semiconductor industry. Databeans projects that the global medical semiconductor market will reach nearly $4.1 billion in global revenue for 2012, a slight increase over 2011 sales. Over the next five years, this market is expected to see a healthy compound annual growth rate (CAGR) of 9 percent, which will result in sales of $6.4 billion by 2017.
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