Medical chip market on 12% CAGR

Medical chip market on 12% CAGR

Market news |
By eeNews Europe

The annual market for medical chips was worth $5.3 billion in 2014 and is set to rise to $8.2 billion in 2018, representing a compound annual growth rate over the period of nearly 12 percent.

IC Insights is predicting strong annual sales growth in 2015 (17 percent) that will fall back in 2017 coinciding with the next global economic slowdown in 2017.

The IC portion of the medical semiconductor business to $6.6 billion in 2018 while the marketshare for optoelectronics, sensors, actuators, and discretes is growing at a faster rate from a smaller base to reach $1.6 billion that year.

Medical semiconductor market forecast to 2018 ($ billions). Source: IC Insights.

The scaling of IC feature sizes, system-on-chip designs, improvements in sensors, and powerful analog frontend data converters are reducing the size of medical diagnostic equipment and the cost of using them.

Next: Growth trends

Lower-cost wearable medical systems and fitness monitors, which can wirelessly transmit vital signs and other readings to doctors or be used as "activity trackers" for health-conscious individuals, are seeing tremendous growth.

The second major trend in medical equipment is the development of more powerful and integrated systems, which are expensive but promise to lower healthcare costs by detecting cancer and diseases sooner and supporting less invasive surgery for quick recovery times and shorter stays in hospitals. Computer-assisted surgery systems, surgical robots, and operating-room automation are among new technologies being pursued by some hospitals in developed markets.

High growth in lower-cost systems along with the rising price tag of more sophisticated hospital equipment in developed country markets is expected to increase total medical electronics systems sales by a CAGR of 8.2 percent between 2013 and 2018, to $70.1 billion in the final year of the forecast.

Related links and articles:

News articles:

Disposable liquid flow sensors expand medical options

Medical DC-DC converter takes 4:1 input range

Sensors, big data, medical are hot in 2015, says KPMG

MEMS respiratory sensor has I2C output

If you enjoyed this article, you will like the following ones: don't miss them by subscribing to :    eeNews on Google News


Linked Articles