Medical electronics market back on track
1 min read
Worldwide sales of medical electronics are expected to jump by 8% to around $50.9billion in 2014, after slowing since 2010 due to the weak global economy.
According to IC Insights, sales of semiconductors used in medical systems will also gain strength in 2014, rising 12% to $4.9bn after growing just 7% in 2013 to $4.4bn.
Between 2012 and 2017, worldwide sales of medical electronics are projected to rise by a compound annual growth rate of 7.3%, reaching $65.4bn.
Semiconductor sales for healthcare systems applications, meanwhile, are set to rise by a compound annual growth rate of 10.5% to reach $6.8bn in 2017.
In the years ahead, IC Insights says stronger growth in medical electronics will be fuelled by sales of less expensive diagnostic and imaging equipment in China and other developing countries, as well as the explosion of wireless mobile healthcare systems that monitor patients remotely.
Advances in semiconductor sensors built with MEMS technology, wireless ics and SoC designs are also expected to fuel growth.
