The global bio electronic market is valued USD $15 billion in 2016 and is expected to grow at a CAGR of 11.6% during the forecast period 2017-2025. The market is driven by various factors such as rapid advancement in semiconductor technology, high demand in implantable medical devices, increasing prevalence of neural and cardiac diseases among others. The emerging healthcare technologies such as lab on chip, ambulatory surgical centres, and personalized devices are also fostering the convergence of electronic engineering into biology. Although electronics and biology has been evolving since last two decades, the recent developments in sensors and semiconductor technologies is expected to fuel innovation in the bio electronics market.
Applications:
§ Biochips
§ Implantable Devices
§ Prosthetic Devices
§ Artificial Organs
§ Electronic Pills
§ Diabetic Devices
Technology:
§ Bio Sensor
§ CMOS Platform
§ Optical Sensors
Regions:
§ North America
o U.S.
o Canada
§ Europe
o UK
o Germany
o France
§ Asia Pacific
o China
o India
o Japan
§ Rest of the World
Among various applications, implantable medical devices dominate with the more than 50% contribution to the revenue share. The primary factor for high adoption rate is the rising demand for implantable medical devices in cardiovascular diseases. However, artificial organs are expected to emerge as the fastest growing application area. The increasing adoption of artificial joint replacement surgery specially for hip and knee joint is the primary driver for the growth of artificial joint applications.
Geographically, global bio electronics market is segmented into North America, Asia Pacific, Europe & RoW. The report further provides detailed analysis of key countries under each of these regions. Although North America is the dominant region in 2016 with more than 40% of the market capture, Asia Pacific is expected to lead the market by 2025. North America bio electronic industry is more regulated as compared to other regions thus witnessing a positive response from the patients. Moreover, the region has significant inflow of investments both from public and private sector that compels the research and development in the bio electronic market. In long run APAC is expected to witness high growth due to innovations & new product developments from countries such as China and Japan.
Bio electronics market covers a vast area of study of various individual markets such as CRMD, diabetic devices, ear implants, biochips and others. Thus, the market is highly fragmented with presence of large number of vendors, enhancing their capabilities with their market area. Some of the key players in the global bio electronic market includes. Abbott Laboratories, Avago, Bioelectronics Corporation, Danaher Corporation, Medtronics, Roche and so on. All these companies are focusing on innovations and product launch in their respective areas. Mergers and acquisitions are among the most undertaken strategic initiatives in the current scenario. Many companies acquire or merge with the other healthcare company for mutual growth and development.
