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Medical chip market shows 9% CAGR through 2016

Posted: 29 Nov 2011     Print Version  Bookmark and Share

Keywords:medical semiconductor  medical monitoring  market tracker 

Databeans Q4 2011 Industrial Market Tracker looks at the trends shaping the medical semiconductor market. While there is a strong trend towards incorporating medical monitoring applications and equipment into the consumer segment, with increasing number of devices that provide patients with valuable data for their physicians or personal use, Databeans also notes a shift to integrate wireless capabilities to many existing applications so that they can be used with the increasing number of smartphones.

According to Databeans, the medical segment will experience modest growth this year in a rough overall semiconductor environment. The medical market for semiconductors is predicted to grow by 9 per cent on average through 2016. This CAGR brings the total market value to right around Rs.26,457.40 crore ($5.9 billion) in 2016, up from Rs.17,040.36 crore ($3.8 billion) currently (Figure 1). This number is impressive and is driven by these trends towards innovation in in-home applications where the patient would not have to leave to get treatment or be monitored. While this trend will help cut the overall health care costs, it will increase the expenditures for the electronics as more products will be available for the consumer and not only in the clinics.

 Medical semiconductor market forecast

Figure 1: Worldwide Medical Semiconductor Market Forecast (Revenue, Units, and ASPs).

Another trend impacting OEMs in the medical space is the on-going issues with the FDA's approval practices. The FDA's regulations for approving medical devices have increasingly been scrutinized for their length and strictness. This has deterred many manufacturers and suppliers to focus their efforts in the Asia-Pacific region. The outcry for changing the stringent policies had been getting louder and in wake of many beneficial devices that have been delayed from the FDA's process. The regional forecast exemplifies this effect with shifting growth patterns between the Americas and Asia-Pacific.


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