RENO, Nevada -- Medical applications that use semiconductors make up 34 percent of the total medical device market, which is estimated to be a $174 billion industry, according to a report from Databeans Inc.
Databeans, a market research firm in Reno, estimates that revenue from these electronic applications is growing at an average annual growth rate of 18 percent over the next five years, resulting in a market worth $179 billion by 2009.
The market for semiconductors used in the overall industrial industry is estimated at $12.8 billion--roughly 8 percent of the overall IC market. Databeans estimates that 16 percent of this revenue is generated from medical electronics applications.
"Medical electronics development is advancing rapidly," according to the report. "These devices include such designs as portable diagnostic imaging and home monitoring devices such as cholesterol monitors, and blood glucose meters."
The fastest growing application markets within medical for semiconductors are home monitoring and diagnostic devices, telemetry, and diagnostic imaging applications. The value of semiconductors is substantially increasing, according to Databeans.