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.
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o Implantable Devices
o Prosthetic Devices
o Artificial Organs
o Electronic Pills
o Diabetic Devices
o Bio Sensor
o CMOS Platform
o Optical Sensors
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o North America
o Asia Pacific
o 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.
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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.
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