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Medical Electronics Market Worth $8.8 Billion by 2026

Northbrook, IL -- (SBWIRE) -- 03/02/2021 -- According to the new market research report "Medical Electronics Market with Covid-19 Impact Analysis by Component (Sensors, MCUs/MPUs, Displays), Device Classification (Class I, Class II, Class III), Application (Diagnostic, Cardiology, Flow Measurement), and Region - Global Forecast to 2026", published by MarketsandMarkets™, the market is expected to reach USD 8.8 billion by 2026 from USD 6.3 billion in 2021, at a CAGR of 6.9% during 2021-2026 period. The rapid growth of the global medical electronics market is attributed to the some of the driving factors such as the aging population and increasing life expectancy , increasing adoption of IoT-based smart medical devices, escalating demand for portable medical devices and wearable electronics, growing use of radiation therapy in diagnosis and treatment of diseases and existing favorable healthcare reforms and financial assistance by governments for senior citizens.
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