Forecast: Medical semiconductor market to grow by 12% in year 2014

IC Insights has forecasted the global medical electronics sales to grow by 8% to reach $50.9 billion in 2014 after rising just 3% in 2013 to an estimated $47.3 billion. Sales of semiconductor devices for use in medical systems is forecasted by IC Insights to grow by 12% in year 2014 to reach $4.9 billion after growing 7% in 2013 to about $4.4 billion. Further findings and market analysis highlights shared by IC Insights on medical electronics and semiconductors include: Between 2012 and 2017, worldwide sales of medical electronics are projected to rise by a compound annual growth rate (CAGR) of 7.3%, reaching $65.4 billion in the final forecast year of the 2014 IC Market Drivers report. The brand new medical electronics section in the 475-page report shows semiconductor sales for healthcare systems applications rising by a CAGR of 10.5% and reaching $6.8 billion in 2017 (Figure 1). In the years ahead, stronger growth in medical electronics will be fueled by sales of less expensive diagnostic and imaging equipment in China and other developing country markets as well as the explosion of wireless mobile healthcare systems that monitor patients remotely and reduce the need for expensive stays in hospitals. The 2014 IC Market Drivers report forecasts wireless mobile medical systems and closely associated wearable fitness-tracking devices generating revenues of nearly $...