According to a new market research report published by Credence Research, the global market for medical electronics capacitors is set to grow with a CAGR of 6.9 per cent over the forecast period.
Browse Full Report Originally Published by Credence Research @ https://www.credenceresearch.com/report/capacitors-for-medical-electronics-market
The demand for medical electronics capacitors is primarily governed by the rapidly growing field of medical devices worldwide. The medical technology industry is growing at a rapid pace and was estimated at more than US$ 390.0 billion in 2016, with an average annual growth rate of more than 3.8 per cent. Capacitors are primarily two-terminal electronic components that store electrical energy in the electrical field. Capacitors are used for energy storage, power supply, signal coupling and decoupling, and others. The aging population and increasing chronic diseases are driving the growth of the demand for medical technology, which in turn helps the market for medical electronics to expand. As a result of all these factors, the demand for medical electronics capacitors is projected to continue throughout the forecast period.
Depending on the usage, the demand for medical electronics capacitors has been divided into two therapeutic and diagnostic divisions. The need for accurate and better diagnostic instruments improves the diagnostics market. Increasing awareness of the advantages of early diagnosis and increasing prevalence of genetic tools are main growth drivers for the diagnostics market. On the other hand, the therapeutic segment will see faster growth during the forecast period due to the increasing prevalence of cardiovascular and neurological diseases. Due to all these factors, the therapeutic segment is expected to exceed the diagnostics segment during the forecast period.
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Geographically, North America dominates the market with a revenue share of more than 40% worldwide. The market here is dominated by the fact that the US has a large spending on health care, a high rate of acceptance of advanced medical electronic devices and an increased level of income. In addition, patient understanding of early diagnosis and the advancement of infrastructure in the country are other key factors that drive market growth. In view of all these factors, we expect North America to continue to lead the demand for medical electronics capacitors during the forecast period. In addition, Asia Pacific is expected to show the fastest growth in the market over the forecast period due to an increase in geriatric population in the region.
Some of the major companies profiled in the report include Vishay Intertechnology, AVX Corporation, Greatbatch, Inc, KEMET Electronics Corporation, Rubycon Corporation, Murata Manufacturing, Knowles Capacitor, Exxelia, TDK-EPCOS among others.
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