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The report "Medical Electronics Market by Component (Sensor, Battery, Memory Device, Display, and Microcontrollers), Application (Diagnosis and Monitoring), Product (Invasive, and Non Invasive), and by Geography - Global Forecast to 2022", published by MarketsandMarkets, the market, in terms of value, is estimated to grow at a CAGR of 5.4% between 2016 and 2022. The market for medical electronics is expected to reach $4.41 Billion by 2022.
Non-invasive product market is expected to hold the largest share of the medical electronics market by 2022
The market for non-invasive products accounted for the largest share in 2015. It is expected to grow at a high CAGR between 2016 and 2022. The players of the medical electronics market are concentrating on manufacturing portable ECG devices which can be used at home by cardiac patients. ECG devices are used for cardiac treatment, and various products are being designed to provide the ease of usage to patients.
APAC expected to grow at the highest CAGR during forecast period
The market in APAC is expected to grow at the highest CAGR between 2016 and 2022. The increasing population with respiratory diseases such as sleep apnea and the aging population are the major drivers for the medical electronics market in APAC region. The medical electronics market in APAC is set to grow because of technological advancements and increased awareness amongst population. The APAC is the fastest-growing region in terms of technological advancement, healthcare infrastructure, and so on.
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