Medical Electronics Market Size, Share, Growth Analysis, By Application(Therapeutics and Diagnostics), By End User(Hospitals, Homecare, and Clinics), By Region - Industry Forecast 2024-2031

Global medical electronics market is highly competitive with the presence of local as well as global companies. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of global medical electronics market.

For example, In May 2022, Medtronic plc, a US-based medical device company, acquired Intersect ENT for an undisclosed amount. Medtronic is expanding its comprehensive ear, nose, and throat (ENT) portfolio to include innovative sinus products used in procedures to improve post-surgical outcomes and treat nasal polyps, such as Intersect ENT's PROPEL and SINUVA (mometasone furoate) in sinus implants, technologies, and technologies, assets through this acquisition. Intersect ENT is a United States-based medical device manufacturing firm operating in the medical electronics market.

Medical Electronics Market Top Player's Company Profiles

• Medtronic plc
• General Electric Company
• Siemens Healthineers AG
• Koninklijke Philips N.V.
• Abbott Laboratories
• Becton, Dickinson and Company
• Fujifilm Holdings Corporation
• Johnson & Johnson
• Hitachi, Ltd.
• Canon Medical Systems Corporation
• Stryker Corporation
• Zimmer Biomet Holdings, Inc.
• Smith & Nephew plc
• Boston Scientific Corporation
• ResMed Inc.
• Varian Medical Systems, Inc.
• Intuitive Surgical, Inc.
• Hologic, Inc.
• Thermo Fisher Scientific Inc.
• Edwards Lifesciences Corporation

Medical Electronics Market Recent Developments

• In January 2022, Promaxo Inc., a medical imaging, robotics, and artificial intelligence (AI) technology company, announced the sale of its in-office MRI system to Kasraeian Urology.

• In November 2021, Philips expanded its artificial intelligence (AI) enabled CT imaging portfolio at the Radiological Society of North America (RSNA).

• On August 21, 2022, Medtronic Plc., a leading US-based medical device company, partnered with BioIntelliSense, a remote care solution company in the medical category, to deliver multi-parameter wearable for continuous remote patient monitoring from the hospital to the home. The partnership will enable Medtronic to provide access to medical-grade devices that continuously monitor patients' vital signs while they are in the hospital and after they are discharged. It promotes automation workflows in care delivery, enables proactive clinical interventions, and helps address the effects of workforce shortages.

• On July 13, 2022, Siemens Healthineers, a Germany-based medical device company, released Mobilet Impact, a revolutionary mobile X-ray system. The system combines all the advantages of full digital integration, affordable cost, and transportable x-ray equipment for imaging at the patient's bedside.