Electromedical Devices Market: Introduction

  • Electromedical devices are medical devices used in various applications in health care industries, including therapeutic use (surgical instruments, laser, and others) and diagnostic use (imaging equipment, monitoring devices)
  • These devices are used in diagnosis and surgical procedures related to cardiovascular, dental, ophthalmology, and other disease indications

Key Drivers and Restraints of Global Electromedical Devices Market

  • Increase in research & development activities and technological advancements in electromedical devices are major factors for boosting the growth of the global electromedical devices market during the forecast period. Increase in new product approvals for electromedical devices is another key factor for driving the market. For instance, in 2018, the Food and Drug Administration, approved 106 electromedical devices compared to 99 in 2017.
  • In addition, increase in demand for imaging in diagnosis and monitoring of major chronic diseases related to cardiology and oncology helps drive the market. Heart valve replacement is the most common procedure in cardiology. Increase in use of electromedical devices in heart valve replacement procedure is another main factor for fueling the growth of this market. Moreover, new product launches from major manufacturers are anticipated to propel the electromedical devices market. In August 2018, Invacare Corporation launched an advanced carbon fibre racing wheelchair for rehabilitation patients.
  • High cost and high technical configuration required for electromedical devices restrain the electromedical devices market

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Diagnostic Imaging Devices Segment to Witness High Demand

  • Based on device type, the global electromedical devices market can be segmented into diagnostic imaging devices, surgical devices, patient assistive devices, and others
  • The diagnostic imaging devices segment accounted for the highest share of the electromedical devices market in 2018. This segment is expected to dominate the electromedical devices market due to increase in incidence of major chronic diseases which further resulted into rise in demand for disease diagnosis. In addition, launch of new diagnostic imaging devices in recent years is expected to drive the segment.

Cardiovascular Application Segment to Witness Significant Growth

  • In terms of application, the global electromedical devices market can be divided cardiovascular, dental, ophthalmology, orthopedic, and others
  • The cardiovascular segment generated the highest revenue in 2018 and is anticipated to witness growth during the forecast period. This can be attributed to rise in incidence of cardiovascular disorders.

Hospitals Segment to be Most Promising Segment

  • In terms of end-user, the global electromedical devices market can be divided into hospitals, clinics, home care settings, and others. The hospitals segment generated the highest revenue in 2018 and is anticipated to witness growth during the forecast period.
  • Most of the electromedical devices are available in hospitals and increase in demand for electromedical devices in newly set up hospitals helps drive the segment

North America to Dominate Global Electromedical Devices Market

  • In terms of region, the global electromedical devices market can be categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • North America dominated the global electromedical devices market in 2018 and is expected to maintain its leading position during the forecast period. Dominance of the region can be attributed to increase in product offerings, new product launch, presence of key market players in the region, and greater affordability. For instance, in October 2018, the B. Braun Melsungen AG received USFDA approval for ELAN 4 Electro Motor system, which used in the spinal and neurological surgical procedures.
  • The market in Asia Pacific is projected to register highest growth during the forecast period, owing to increase in adoption of new products, and rise in incidence of cardiovascular, orthopedic, and ophthalmology disorders

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Key Manufacturers Operating in Global Market

The global electromedical devices market was highly fragmented in 2018. Key manufacturers operating in the global market are:

  • Medtronic plc
  • B. Braun Melsungen AG
  • Siemens AG
  • Koninklijke Philips N.V.
  • Cardinal Health
  • Zimmer Biomet
  • Abbott
  • Stryker Corporation
  • 3M

Electromedical Devices Market: Research Scope

Electromedical Devices Market, by Device Type

  • Diagnostic Imaging Devices
  • Surgical Devices
  • Patient Assistive Devices
  • Others

Electromedical Devices Market, by Application

  • Cardiovascular
  • Dental
  • Orthopedic
  • Ophthalmology
  • Others

Electromedical Devices Market, by End-user

  • Hospitals
  • Clinics
  • Home Care Settings
  • Others

Electromedical Devices Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia & New Zealand
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

This intelligence report by TMR is the outcome of intense study and rigorous assessment of various dynamics shaping the growth of the market. TMR nurtures a close-knit team of analysts, strategists, and industry experts who offer clients tools, methodologies, and frameworks to make smarter decisions. Our objective, insights, and actionable analytics provide CXOs and executives to advance their mission-critical priorities with confidence.

The scrutiny of the various forces impacting the dynamics of the market, and key and associated industries, guides enterprises in understanding various consumer propositions. Our clients leverage these insights and perspectives to enhance customer experience in the fast-paced business environment.

All our insights and perspectives are broadly based on 4 Pillars or Stages: ASBC-S, which offer an elaborate and customizable framework for the success of an organization. The essence and the roles of these in organizational successes are highlighted below:

  • Agenda for CXOs: TMR, through the study, sets the tone for agendas that are pertinent to CEOs, CFOs, CIOs, and other CXO executives of businesses operating in the market. The perspectives help our clients to bridge the gap between agenda and action plan. TMR strives to offer guidance to CXOs to undertake mission-critical activities empowered by various business analysis tools, and boost the performance of the organizations. The perspectives guide you to decide on your own marketing mix that align well with the policies, visions, and mission.
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The study presents scrutiny of region-specific consumer and technology trends, including the most recent industry dynamics. These broadly cover but not limited to

  • North America, South America, and the Americas
  • Asia Pacific and Japan
  • Europe
  • Latin America
  • Middle East and Africa

The study offers data-driven insights and guidance of several aspects. Some of the more notable questions are:

  • What are the major recent trends that can influence the product life cycle and the RoI?
  • Which regulatory trends shape corporate-level, business-level, and functional-level strategies?
  • Which micromarketing initiatives of leading players will bring in investments?
  • What can be the best framework and tools for PESTLE analysis?
  • Which regions will witness rise in new opportunities?
  • Which are the game-changing technologies being used to capture new revenue streams in the near future?
  • Which operational and tactical frameworks are being adopted by various players in gaining customer loyalty?
  • What is the current and expected intensity of competition the market in the near future?

Disclaimer: This market research study is an ongoing effort and extreme care has been taken to maintain the highest levels of accuracy at all stages. However, in the light of the rapidly evolving business dynamics, some region-specific or other segment-specific changes may take time to be part of the study.

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Electromedical Devices Market