Capacitors Market For Medical Devices Market Size (2024 - 2029)

The capacitors market for medical devices is poised for growth, driven by the increasing demand for reliable and miniaturized components in diagnostic, imaging, and patient monitoring applications. The expansion of medical electronics, particularly in bionic implants and portable technologies, is a key factor influencing the market size. As the need for advanced medical devices rises, especially among the aging population, the demand for high-performance capacitors is expected to grow. However, fluctuations in raw material costs, such as metals like copper and nickel, pose challenges that could impact production and profit margins.

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Market Size of Capacitors Industry For Medical Devices

Capacitors Market For Medical Devices Summary
Study Period 2019 - 2029
Market Size (2024) USD 1.25 Billion
Market Size (2029) USD 1.54 Billion
CAGR (2024 - 2029) 4.20 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Capacitors Market For Medical Devices Major Players

*Disclaimer: Major Players sorted in no particular order

Capacitors Market Analysis

The Capacitors Market For Medical Devices Industry is expected to grow from USD 1.25 billion in 2024 to USD 1.54 billion by 2029, at a CAGR of 4.20% during the forecast period (2024-2029).

The Capacitors Market for Medical Devices is valued at USD 1.2 billion in the current year and is expected to reach around USD 1.5 billion by the end of the forecast period, registering a CAGR of 4.2% during the forecast period. In diagnostic, imaging, patient monitoring, medication administration, and dispensing applications, passive components play a significant role in medical systems. For instance, implanted medical electronics are often powered by batteries or capacitors that must be removed from the body once they have served their purpose since they are not biodegradable.

  • Capacitors are used in implanted medical equipment like pacemakers, insulin pumps, and defibrillators, as well as portable and wearable ones like electrocardiograms, ultrasound echo machines, and blood gas analyzers. High dependability, a long service life, and passing rigorous screening tests are all requirements. Today, meeting consumer demand frequently entails miniaturization, capacitor design, and material improvements.
  • Electronic devices such as bionic implants or artificial organs perform like biological organisms. The artificial kidney, bio-lung, and artificial pancreas are a few well-known medical bionics currently being produced or developed. The need for medical electronics in the class-III device category is being driven by the expanding elderly population, which is also propelling technological breakthroughs in the field of bionic implants.
  • Along with implantables, the need for portable and wearable medical technology has grown as medicine starts to leave the confines of the traditional environment. To improve patients' quality of life, conventional benchtop equipment are being downsized and become increasingly wearable and implantable. For instance, a conventional cochlear implant gives patients who are profoundly deaf a feeling of sound. The implant is a little device, therefore using a more portable, high-reliability capacitor is necessary for this size range. These trends will drive the market growth for the capacitors in manufacturing the medical devices.
  • The cost of raw materials, which is a variable cost, is the highest one involved in the manufacture of capacitors. Profit margins may suffer from changes in price or availability for these essential feedstocks. Tantalum capacitors are often chosen for applications with capacitance ranges at or above 10 μF in the medical industry, whereas MLCCs are typically thought to be the best option for applications with capacitance ranges below 1 μF. It is anticipated that in 2023, the cost of the metals like copper, Nickel is continue to rise which can impact the production of required capacitors during the projected period.

Capacitors Industry Segmentation

A vast variety of electronic systems, including smartphones, home appliances, electric cars, and medical devices, depend on capacitors. High dependability is required for capacitors used in life-supporting and non-life-supporting medical equipment, and they must pass rigorous screening tests. Medical devices, both implanted and not, can employ a variety of passive components. Implantable medical devices have the highest performance requirements, even though all medical applications need small, very reliable capacitors.

The capacitors market for medical devices is segmented by type (ceramic capacitors, aluminum electrolytic capacitors, tantalum capacitors, paper and plastic film capacitor, EDLC, and others (obstetrical, neurology, physical medicine, general and plastic surgery, among others)), by application (cardiovascular, radiology, general hospital, and ENT & dental), and by geography (North America, Europe, Asia-Pacific, and Rest of the World). The market sizes and forecasts are provided in terms of value in USD for all the above segments.

By Type
Ceramic Capacitors
Tantalum Capacitors
Aluminum Electrolytic Capacitors
Paper and Plastic Film Capacitor
EDLC and others
By Application
Cardiovascular
Radiology
General Hospital
ENT and Dental
Others (Obstetrical, Neurology, Physical Medicine, General and Plastic Surgery, etc.))
By Geography
North America
Europe
Asia
Australia and New Zealand
Latin America
Middle East and Africa
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Capacitors Market For Medical Devices Size Summary

The Capacitors Market for Medical Devices is poised for steady growth over the forecast period, driven by the increasing demand for advanced medical technologies. Capacitors play a crucial role in various medical applications, including diagnostic imaging, patient monitoring, and implanted medical devices such as pacemakers and defibrillators. The trend towards miniaturization and the development of portable and wearable medical devices are significant factors propelling market expansion. As the global population ages, the need for reliable and long-lasting medical electronics, particularly in class-III devices, is on the rise. This demand is further fueled by technological advancements in bionic implants and the growing prevalence of cardiovascular diseases, which necessitate the use of capacitors in life-saving devices.

The market landscape is characterized by intense competition and fragmentation, with numerous global and local players striving to innovate and expand their product offerings. Key players like Murata Manufacturing, AVX Corporation, and Exxelia are actively involved in strategic acquisitions and technological advancements to enhance their capabilities in producing high-performance capacitors for medical applications. The North American region, particularly the United States, remains a significant consumer due to the high incidence of heart disease and cancer, driving the demand for capacitors in medical devices. As the industry continues to evolve, the focus on developing compact, efficient, and reliable capacitor solutions will be critical in meeting the growing needs of the medical device sector.

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Capacitors Market For Medical Devices Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Porter's Five Forces Analysis

      1. 1.2.1 Bargaining Power of Suppliers

      2. 1.2.2 Bargaining Power of Buyers

      3. 1.2.3 Threat of New Entrants

      4. 1.2.4 Threat of Substitutes

      5. 1.2.5 Degree of Competition

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Impact of Covid-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type

      1. 2.1.1 Ceramic Capacitors

      2. 2.1.2 Tantalum Capacitors

      3. 2.1.3 Aluminum Electrolytic Capacitors

      4. 2.1.4 Paper and Plastic Film Capacitor

      5. 2.1.5 EDLC and others

    2. 2.2 By Application

      1. 2.2.1 Cardiovascular

      2. 2.2.2 Radiology

      3. 2.2.3 General Hospital

      4. 2.2.4 ENT and Dental

      5. 2.2.5 Others (Obstetrical, Neurology, Physical Medicine, General and Plastic Surgery, etc.))

    3. 2.3 By Geography

      1. 2.3.1 North America

      2. 2.3.2 Europe

      3. 2.3.3 Asia

      4. 2.3.4 Australia and New Zealand

      5. 2.3.5 Latin America

      6. 2.3.6 Middle East and Africa

Capacitors Market For Medical Devices Market Size FAQs

The Medical Devices Capacitors Market size is expected to reach USD 1.25 billion in 2024 and grow at a CAGR of 4.20% to reach USD 1.54 billion by 2029.

In 2024, the Medical Devices Capacitors Market size is expected to reach USD 1.25 billion.

Capacitors Market For Medical Devices Report Snapshots

Capacitors Market for Medical Devices - Growth, Trends, COVID-19 Impact, and Forecasts (2024 - 2029)