Global Medical Microcontrollers Market – Industry Trends and Forecast to 2029

Medical Microcontrollers Market Analysis and Size

The MCU market has recently seen an increase in demand for internet of things (IoT) MCUs as a result of the growing web of connected devices, which includes televisions, smartphones, home appliances, tablets, smart metres, gaming consoles, and security systems. The demand for IoT microcontroller units is expected to rise as a result of this ever-expanding network of devices. Increasing market competition has significantly reduced the price of microcontrollers, which is expected to fuel its demand in the coming years.

Data Bridge Market Research analyses that the medical microcontrollers market was valued at USD 27.45 billion in 2021 and is expected to reach the value of USD 48.21 billion by the year 2029, at a CAGR of 11.1% during the forecast period. The major factors contributing to the growth of the microcontroller market are the growth and expansion of the semiconductor industry, increased use of microcontrollers for edge computing purposes, and increased demand for portable devices. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Market Definition

A microcontroller is a type of processor that consists of memory, a processor, and an input/output peripheral on a single integrated circuit. They are found in remote controls, office machinery, home appliances, power tools, toys, and other embedded systems that are automatically controlled. The technology used in microcontrollers ensures that electronic devices are managed smoothly and that errors do not occur.

Medical Microcontrollers Market Size and Segmentation

Medical microcontrollers Market Dynamics

Drivers

• The increased awareness of smart energy management

Increased awareness of smart energy management as a result of technological advancements is expected to drive growth even further

Increase in competition and decline in average selling price

Increasing competition has resulted in lower product prices, which are expected to fuel product demand even further. The market is expected to be driven by declining average selling prices and high demand from major application areas.

• Regulatory Compliance

Maintaining compliance with medical reforms and regulations raises the demand for these solutions.

The increase in the funding by the federal government to drive the adoption of these solutions further influence the market. Additionally, the surge in healthcare expenditure, advancements in healthcare infrastructure, and high demand for expanded care delivery positively affect the medical microcontrollers market.

Opportunities

The smart grid is one of the technologies that, when combined with electrical networks and digital communication, allows for remote control. Smart metres and a communication channel are used to communicate in a smart grid. As a result, microcontrollers are employed to ensure communication between physical locations. As a result, smart metre installations as part of smart grid initiatives are expected to significantly drive the market

Restraints/Challenges

However, rising macroeconomic conditions will pose a significant challenge to the growth of the medical microcontroller market. Furthermore, the difficulties associated with operational failure in extreme climatic conditions will act as a market restraint for the microcontroller market. Intense competition among 16-bit, 32-bit, and other microcontroller systems will slow the microcontroller market's growth rate even further. Lack of standardisation, as well as security and privacy concerns, will slow the growth rate of the microcontroller market.

This medical microcontrollers market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the medical microcontrollers market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Medical Microcontrollers Market

The decline in microcontroller production and exports in countries such as China, Germany, the United States, Japan, and South Korea, combined with a labour shortage, has significantly reduced overall market revenue in 2020. However, as lockdown restrictions are lifted in several countries, including the United Kingdom and Germany, manufacturing facilities have begun operating with reduced work capacity in order to limit the spread of COVID-19. With rising global demand for 5G network equipment, servers, and electric and autonomous vehicle (EV) applications, microcontroller adoption is expected to skyrocket in the coming years. This, in turn, is expected to boost overall market growth in the coming years.

Recent Development

• In November 2020, Renesas Electronics Corporation developed a social distancing-based wristwatch on Ultra-Wideband (UWB) technology in collaboration with ALTRAN, an engineering and R&D service provider (A Capgemini Subsidiary). The Renesas Synergy S128 MCU is integrated into the wristwatch, which features HMI capacitive touch with licenced secure ranging UWB technology.

Global Medical Microcontrollers Market Scope

The medical microcontrollers market is segmented on the basis of type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• 8-Bit Microcontrollers
• 16-Bit Microcontrollers
• 32-Bit Microcontrollers

Application

• Detection and Diagnosis
• Monitoring Equipment
• Treatment Equipment

Medical microcontrollers Market Regional Analysis/Insights

The medical microcontrollers market is analysed and market size insights and trends are provided by country, type, and application areas as referenced above.

The countries covered in the medical microcontrollers market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the microcontroller market and will continue to do so throughout the forecast period. The presence of major semiconductor players is one of the key factors driving the growth of the microcontroller market in this region. Furthermore, rising penetration of smartphones, tablets, and other consumer durable electronic devices, combined with rising industrial automation, will drive market growth rates higher. Asia-Pacific, on the other hand, will have the highest compound annual growth rate (CAGR) during this forecast period. The region's major growth drivers are rising demand for smart home electronic appliances, increased adoption of cloud-based solutions, and rising demand for internet of things technology. Another factor driving growth in the semiconductor and electronics industries is their expansion.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Healthcare Infrastructure growth Installed base and New Technology Penetration

The medical microcontrollers market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for medical microcontrollers market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the medical microcontrollers market. The data is available for historic period 2010-2020.

Competitive Landscape and Medical Microcontrollers Market Share Analysis

The medical microcontrollers market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to medical microcontrollers market.

Some of the major players operating in the medical microcontrollers market are

• NXP Semiconductors (Germany)
• Renesas Electronics (US)
• Microchip Technology (US)
• Infineon Technologies (UK)
• STMicroelectronics (US)
• Texas Instruments (US)
• Cypress Semiconductors (UK)
• Silicon Laboratories (US)
• ToshibaSanofi Aventis (Japan)
• Biogen Idec Inc  (India)
• PTS Diagnostics (US)
• Sekisui Diagnostics (US)
• Thermo Fisher Scientific (US)
• bioMérieux S.A. (France).

SKU-68838