Latest News- Semiconductor Market In Healthcare Sector: ICs is expected to lead the Component segment during 2025-2029

The Semiconductor Market In Healthcare Sector is being driven by Rising demand for advanced medical devices

The Semiconductor Market In Healthcare Sector is expected to grow at a CAGR of 11.4% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 5409.8 million. The semiconductor market in the healthcare sector is witnessing a significant focus on sustainability in manufacturing processes. Notably, Merck and Intel announced a collaborative academic research program on November 7, 2024, aimed at advancing sustainability in semiconductor manufacturing. This initiative, supported by eleven scientific institutions across six European countries, comprises six projects utilizing Artificial Intelligence (AI) and machine learning to optimize semiconductor processes. The primary objectives include material discovery advancements, increased process efficiency, and waste reduction. By implementing AI and machine learning, this program aspires to revolutionize semiconductor manufacturing, making it more eco-friendly and resource-efficient. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Component
  • ICs
  • Sensors
  • Optoelectronic
  • Discrete components
• Application
  • Medical imaging
  • Patient monitoring
  • Diagnostic equipment
  • Wearable
  • Others
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • South America
    • Brazil
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rising demand for advanced medical devices
• Increasing prevalence of chronic diseases
• Growing adoption of wearable devices in healthcare

However, the market also witnesses some limitations, which are as follows:

• Regulatory compliance
• Supply chain disruptions
• Cybersecurity concerns in semiconductor industry

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Market Scope in Semiconductor Market In Healthcare Sector Research Report

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Research Analysis Overview

The semiconductor industry plays a pivotal role in the healthcare sector, powering clinical diagnostics, therapeutic devices, and therapy equipment through communication ICs, discrete devices, and miniaturized components. Functionality in medical imaging tools, patient monitoring systems, and smart medical solutions relies on semiconductors for real-time data collection, processing power, and memory. Chronic disease management benefits from wearable temperature patches, hemodynamic monitors, and implantable devices, all enabled by semiconductors. The IoT revolutionizes patient care with miniaturized, efficient, and accurate medical devices, including ultrasonic surgical instruments, pacemakers, pulse oximetry, and magnetic resonance imaging systems. Embedded systems and MEMS technology further enhance semiconductor's role in communication, efficiency, and accuracy in healthcare.

Market Research Overview

The semiconductor market within the healthcare sector encompasses semiconductor manufacturers producing integrated circuits (ICs) for wearable healthcare devices, medical equipment, and IoT healthcare solutions. According to Technavio, the global semiconductor market size is determined by the revenue generated from the shipment of semiconductor ICs to OEMs and ODMs. This includes ICs from both fab and fabless companies, as well as IDMs. Market expansion will be fueled by substantial investments in constructing new semiconductor fabrication plants (fabs) and expanding existing ones, driving innovation and growth within the healthcare semiconductor industry.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/