|A new report from IMS Research highlights the strong growth in the market for components used in home medical appliances. “The Worldwide Market for Semiconductors Used in Consumer Medical Devices” forecasts that revenues will grow steadily to $1.4 billion in 2011, at around 10% per year. |
More than half will be for microcontrollers, analog ICs and LCD displays. This market will be relatively immune to the toxic boom and bust cycles of the semiconductor industry.
A companion report, “The Consumer Medical Production Yearbook”, from InMedica (IMS’ medical electronics division) forecasts exceptional growth in consumer medical devices with manufacturer revenues reaching over $5 billion by 2011. This is the result of an ageing population, with chronic medical conditions, in the developed world. Increasingly home diagnostics and treatment is being used, to keep treatment costs under control.
Ryan Sanderson (analyst in IMS Research’s semiconductor division), noted that, “The trend towards telehealth (remote diagnostics by health professionals) means individuals could log regular medical readings to a PC or even a smart phone for remote analysis. This will drive market growth in the medium term. In many cases, wireless data transmission will be used and larger memory capacities for devices will be needed”. Telehealth initiatives aim to reduce the amount of face to face contact, shifting some management of diseases, such as diabetes, from the hospital to the individual, to save both time and money.
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