The global Medical Electronic Market size is worth US$ 7,725.0 million in 2023 and is anticipated to be worth US$ 14,960.9 million in 2033. The adoption of medical electronics is expected to rise at a CAGR of 6.8% during the forecast period. In 2022, the global Medical Electronic Market was worth US$ 7,343.2 million.
| Attributes | Details |
|---|---|
| Market Value for 2023 | US$ 7,725.0 million |
| Market Value for 2033 | US$ 14,960.9 million |
| Market CAGR from 2023 to 2033 | 6.8% |
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A Look Back at Medical Electronic Market from 2018 to 2022
Growth and Advancements:
Technology improvements in products like wearable health monitors, medical imaging equipment, and others propelled the constant growth of the medical electronics sector. The demand for effective, patient-centered healthcare solutions was significant.
Digital Health Records:
Patient data management became precise and efficient with the broad adoption of electronic health records (EHRs). The digitization of healthcare data boosted research and analytics and improved communication between healthcare professionals.
Telemedicine Boom:
Solutions for telemedicine and remote patient monitoring became prevalent, particularly amid the pandemic. The demand for dependable and secure medical electronics for remote consultations increased due to this trend.
AI and Machine Learning:
Artificial intelligence (AI) and machine learning were progressively integrated into medical electronics for disease diagnosis, treatment planning, and drug discovery.
A Forward Look at the Medical Electronic Market from 2023 to 2033
Sustainability:
With a push for eco-friendly materials, recycling, and ethical production techniques, there shall be an increasing emphasis on the sustainability of medical electronics.
AI in Diagnostics and Treatment:
AI and machine learning continue to assist diagnostics and individualized treatment approaches significantly. To make more precise diagnoses, sophisticated algorithms shall be utilized to examine patient data, and medical imaging surging medical electronics demand.
Telehealth Evolution:
Remote monitoring and telehealth may advance, become more sophisticated, and be included in standard medical care. Patients are going to benefit from greater convenience and easier access to care as an outcome.
Principal Consultant
The section includes a detailed segmentation analysis of the medical electronics industry. The market is witnessing a growing attraction among medical electronics manufacturers towards the escalating demand for wearable gadgets. Simultaneously, the health monitoring segment asserts its dominance as a leading application in the medical electronics industry.
| Category | Application |
|---|---|
| Leading Segment | Health Monitoring |
| Segment Share | 15.4% |
| Category | Type |
|---|---|
| Leading Segment | Wearable Gadgets |
| Segment Share | 17.6% |
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This section delves into a detailed analysis of the Medical Electronic Market with a keen focus on offering insights specific to various countries. Notably, the market is experiencing an upswing in regions such as North America, Europe, and Asia Pacific. In Europe, a pattern of consistent growth is observed, while the Asia Pacific region holds tremendous potential for medical electronics manufacturers.
| Attributes | Details |
|---|---|
| United States Market CAGR | 17.3% |
| Canada Market CAGR | 7.5% |
| Attributes | Details |
|---|---|
| United Kingdom Market CAGR | 10.2% |
| Germany Market CAGR | 8.7% |
| France Market CAGR | 5.3% |
| Italy Market CAGR | 3.3% |
| Spain Market CAGR | 2.8% |
| Attributes | Details |
|---|---|
| China Market CAGR | 9.8% |
| India Market CAGR | 8.2% |
| Japan Market CAGR | 6.3% |
| South Korea Market CAGR | 3.2% |
The Medical Electronic Market is moderately fragmented, with various local players present. Several market players in the medical electronics industry attempt to increase their market share through investments, collaborations, acquisitions, and mergers.
Medical electronics manufacturers are investing in the development of new products. The market players in medical electronics are concentrating on retaining competitive pricing.
Recent Breakthroughs and Advancements
| Company | Details |
|---|---|
| VUNO | VUNO, a medical artificial intelligence company, received approval from the South Korean Ministry of Food and Drug Safety in August 2022 for their ECG device, Hativ Pro. A portable medical device that monitors a user's heart rate and sends the data to a linked mobile phone application. |
| Partnership of Weifang Jianyi Medical Products Co., Ltd. And Shineco, Inc. | Shineco, Inc. launched a partnership with Weifang Jianyi Medical Products Co., Ltd. in February 2022 to jointly manufacture and sell imaging products. |
| Acquisition of Capsule Solutions by Koninklijke Philips N.V. | Koninklijke Philips N.V. purchased Capsule Solutions, a prominent medical device integration and data solutions developer, in 2021. The acquisition strived to improve Philips' position in the developing patient monitoring and hospital informatics sector. |
| Alliance of Siemens Healthineers AG and Varian Medical Systems | Siemens Healthineers AG established a strategic alliance with Varian Medical Systems, a leader in radiation oncology treatments, in 2021. The collaboration aims to improve cancer care by integrating Varian's radiation oncology expertise with Siemens' imaging technologies. |
| Walk Vascular Acquired by Abbott | Abbott purchased Walk Vascular, a medical device business that specializes in treating chronic complete occlusions of the peripheral arteries, in 2020. Abbott's peripheral vascular device portfolio expanded as a result of the acquisition. |
| Digital Surgery Acquired by Medtronic | Medtronic bought Digital Surgery, a United Kingdom-based firm that develops and sells surgical AI and digital training solutions to surgeons, in 2020. The acquisition was made to improve Medtronic's robotic-assisted surgery platform. |
The global medical electronics industry to secure a valuation of US$ 7,725.0 million in 2023.
The market is estimated to reach US$ 14,960.9 million by 2033.
Through 2033, the market is anticipated to expand at a 6.8% CAGR.
The wearable gadget sector is set to achieve a market share of 17.60%.
The health monitoring sector has the potential to acquire a market share of 15.4%.
The United States market to develop at a CAGR of 17.3% from 2023 to 2033.
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer’s
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.9.2. By Key Countries
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Global Market 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market 2018 to 2022 and Forecast 2023 to 2033, By Type
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Type, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Type, 2023 to 2033
5.3.1. Handheld devices
5.3.2. Heavy base devices
5.3.3. Wearable gadgets
5.3.4. Wireless connected devices
5.3.5. RFID-based health tracking devices
5.3.6. RADAR technology-based ultrasound machine
5.4. Y-o-Y Growth Trend Analysis By Type, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Type, 2023 to 2033
6. Global Market 2018 to 2022 and Forecast 2023 to 2033, By Application
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Application, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Application, 2023 to 2033
6.3.1. Imaging
6.3.2. Health monitoring
6.3.3. Digital assistance
6.3.4. Digital diagnostic
6.3.5. Medical therapy
6.3.6. Fitness
6.3.7. Wellness
6.3.8. Healthcare
6.4. Y-o-Y Growth Trend Analysis By Application, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Application, 2023 to 2033
7. Global Market 2018 to 2022 and Forecast 2023 to 2033, By Component
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Component, 2018 to 2022
7.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Component, 2023 to 2033
7.3.1. Sensor
7.3.2. Battery
7.3.3. Display
7.3.4. Processors
7.3.5. Memory
7.4. Y-o-Y Growth Trend Analysis By Component, 2018 to 2022
7.5. Absolute $ Opportunity Analysis By Component, 2023 to 2033
8. Global Market 2018 to 2022 and Forecast 2023 to 2033, By Region
8.1. Introduction
8.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2018 to 2022
8.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2023 to 2033
8.3.1. North America
8.3.2. Latin America
8.3.3. Western Europe
8.3.4. Eastern Europe
8.3.5. South Asia and Pacific
8.3.6. East Asia
8.3.7. Middle East and Africa
8.4. Market Attractiveness Analysis By Region
9. North America Market 2018 to 2022 and Forecast 2023 to 2033, By Country
9.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
9.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
9.2.1. By Country
9.2.1.1. USA
9.2.1.2. Canada
9.2.2. By Type
9.2.3. By Application
9.2.4. By Component
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Type
9.3.3. By Application
9.3.4. By Component
9.4. Key Takeaways
10. Latin America Market 2018 to 2022 and Forecast 2023 to 2033, By Country
10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Country
10.2.1.1. Brazil
10.2.1.2. Mexico
10.2.1.3. Rest of Latin America
10.2.2. By Type
10.2.3. By Application
10.2.4. By Component
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Type
10.3.3. By Application
10.3.4. By Component
10.4. Key Takeaways
11. Western Europe Market 2018 to 2022 and Forecast 2023 to 2033, By Country
11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Country
11.2.1.1. Germany
11.2.1.2. UK
11.2.1.3. France
11.2.1.4. Spain
11.2.1.5. Italy
11.2.1.6. Rest of Western Europe
11.2.2. By Type
11.2.3. By Application
11.2.4. By Component
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Type
11.3.3. By Application
11.3.4. By Component
11.4. Key Takeaways
12. Eastern Europe Market 2018 to 2022 and Forecast 2023 to 2033, By Country
12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Country
12.2.1.1. Poland
12.2.1.2. Russia
12.2.1.3. Czech Republic
12.2.1.4. Romania
12.2.1.5. Rest of Eastern Europe
12.2.2. By Type
12.2.3. By Application
12.2.4. By Component
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Type
12.3.3. By Application
12.3.4. By Component
12.4. Key Takeaways
13. South Asia and Pacific Market 2018 to 2022 and Forecast 2023 to 2033, By Country
13.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
13.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
13.2.1. By Country
13.2.1.1. India
13.2.1.2. Bangladesh
13.2.1.3. Australia
13.2.1.4. New Zealand
13.2.1.5. Rest of South Asia and Pacific
13.2.2. By Type
13.2.3. By Application
13.2.4. By Component
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Type
13.3.3. By Application
13.3.4. By Component
13.4. Key Takeaways
14. East Asia Market 2018 to 2022 and Forecast 2023 to 2033, By Country
14.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
14.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
14.2.1. By Country
14.2.1.1. China
14.2.1.2. Japan
14.2.1.3. South Korea
14.2.2. By Type
14.2.3. By Application
14.2.4. By Component
14.3. Market Attractiveness Analysis
14.3.1. By Country
14.3.2. By Type
14.3.3. By Application
14.3.4. By Component
14.4. Key Takeaways
15. Middle East and Africa Market 2018 to 2022 and Forecast 2023 to 2033, By Country
15.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
15.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
15.2.1. By Country
15.2.1.1. GCC Countries
15.2.1.2. South Africa
15.2.1.3. Israel
15.2.1.4. Rest of MEA
15.2.2. By Type
15.2.3. By Application
15.2.4. By Component
15.3. Market Attractiveness Analysis
15.3.1. By Country
15.3.2. By Type
15.3.3. By Application
15.3.4. By Component
15.4. Key Takeaways
16. Key Countries Medical Electronics Market
16.1. USA
16.1.1. Pricing Analysis
16.1.2. Market Share Analysis, 2022
16.1.2.1. By Type
16.1.2.2. By Application
16.1.2.3. By Component
16.2. Canada
16.2.1. Pricing Analysis
16.2.2. Market Share Analysis, 2022
16.2.2.1. By Type
16.2.2.2. By Application
16.2.2.3. By Component
16.3. Brazil
16.3.1. Pricing Analysis
16.3.2. Market Share Analysis, 2022
16.3.2.1. By Type
16.3.2.2. By Application
16.3.2.3. By Component
16.4. Mexico
16.4.1. Pricing Analysis
16.4.2. Market Share Analysis, 2022
16.4.2.1. By Type
16.4.2.2. By Application
16.4.2.3. By Component
16.5. Germany
16.5.1. Pricing Analysis
16.5.2. Market Share Analysis, 2022
16.5.2.1. By Type
16.5.2.2. By Application
16.5.2.3. By Component
16.6. UK
16.6.1. Pricing Analysis
16.6.2. Market Share Analysis, 2022
16.6.2.1. By Type
16.6.2.2. By Application
16.6.2.3. By Component
16.7. France
16.7.1. Pricing Analysis
16.7.2. Market Share Analysis, 2022
16.7.2.1. By Type
16.7.2.2. By Application
16.7.2.3. By Component
16.8. Spain
16.8.1. Pricing Analysis
16.8.2. Market Share Analysis, 2022
16.8.2.1. By Type
16.8.2.2. By Application
16.8.2.3. By Component
16.9. Italy
16.9.1. Pricing Analysis
16.9.2. Market Share Analysis, 2022
16.9.2.1. By Type
16.9.2.2. By Application
16.9.2.3. By Component
16.10. Poland
16.10.1. Pricing Analysis
16.10.2. Market Share Analysis, 2022
16.10.2.1. By Type
16.10.2.2. By Application
16.10.2.3. By Component
16.11. Russia
16.11.1. Pricing Analysis
16.11.2. Market Share Analysis, 2022
16.11.2.1. By Type
16.11.2.2. By Application
16.11.2.3. By Component
16.12. Czech Republic
16.12.1. Pricing Analysis
16.12.2. Market Share Analysis, 2022
16.12.2.1. By Type
16.12.2.2. By Application
16.12.2.3. By Component
16.13. Romania
16.13.1. Pricing Analysis
16.13.2. Market Share Analysis, 2022
16.13.2.1. By Type
16.13.2.2. By Application
16.13.2.3. By Component
16.14. India
16.14.1. Pricing Analysis
16.14.2. Market Share Analysis, 2022
16.14.2.1. By Type
16.14.2.2. By Application
16.14.2.3. By Component
16.15. Bangladesh
16.15.1. Pricing Analysis
16.15.2. Market Share Analysis, 2022
16.15.2.1. By Type
16.15.2.2. By Application
16.15.2.3. By Component
16.16. Australia
16.16.1. Pricing Analysis
16.16.2. Market Share Analysis, 2022
16.16.2.1. By Type
16.16.2.2. By Application
16.16.2.3. By Component
16.17. New Zealand
16.17.1. Pricing Analysis
16.17.2. Market Share Analysis, 2022
16.17.2.1. By Type
16.17.2.2. By Application
16.17.2.3. By Component
16.18. China
16.18.1. Pricing Analysis
16.18.2. Market Share Analysis, 2022
16.18.2.1. By Type
16.18.2.2. By Application
16.18.2.3. By Component
16.19. Japan
16.19.1. Pricing Analysis
16.19.2. Market Share Analysis, 2022
16.19.2.1. By Type
16.19.2.2. By Application
16.19.2.3. By Component
16.20. South Korea
16.20.1. Pricing Analysis
16.20.2. Market Share Analysis, 2022
16.20.2.1. By Type
16.20.2.2. By Application
16.20.2.3. By Component
16.21. GCC Countries
16.21.1. Pricing Analysis
16.21.2. Market Share Analysis, 2022
16.21.2.1. By Type
16.21.2.2. By Application
16.21.2.3. By Component
16.22. South Africa
16.22.1. Pricing Analysis
16.22.2. Market Share Analysis, 2022
16.22.2.1. By Type
16.22.2.2. By Application
16.22.2.3. By Component
16.23. Israel
16.23.1. Pricing Analysis
16.23.2. Market Share Analysis, 2022
16.23.2.1. By Type
16.23.2.2. By Application
16.23.2.3. By Component
17. Market Structure Analysis
17.1. Competition Dashboard
17.2. Competition Benchmarking
17.3. Market Share Analysis of Top Players
17.3.1. By Regional
17.3.2. By Type
17.3.3. By Application
17.3.4. By Component
18. Competition Analysis
18.1. Competition Deep Dive
18.1.1. Siemens AG
18.1.1.1. Overview
18.1.1.2. Product Portfolio
18.1.1.3. Profitability by Market Segments
18.1.1.4. Sales Footprint
18.1.1.5. Strategy Overview
18.1.1.5.1. Marketing Strategy
18.1.1.5.2. Product Strategy
18.1.1.5.3. Channel Strategy
18.1.2. Analog Devices
18.1.2.1. Overview
18.1.2.2. Product Portfolio
18.1.2.3. Profitability by Market Segments
18.1.2.4. Sales Footprint
18.1.2.5. Strategy Overview
18.1.2.5.1. Marketing Strategy
18.1.2.5.2. Product Strategy
18.1.2.5.3. Channel Strategy
18.1.3. Angiotech Pharmaceuticals, Inc.
18.1.3.1. Overview
18.1.3.2. Product Portfolio
18.1.3.3. Profitability by Market Segments
18.1.3.4. Sales Footprint
18.1.3.5. Strategy Overview
18.1.3.5.1. Marketing Strategy
18.1.3.5.2. Product Strategy
18.1.3.5.3. Channel Strategy
18.1.4. GE Healthcare
18.1.4.1. Overview
18.1.4.2. Product Portfolio
18.1.4.3. Profitability by Market Segments
18.1.4.4. Sales Footprint
18.1.4.5. Strategy Overview
18.1.4.5.1. Marketing Strategy
18.1.4.5.2. Product Strategy
18.1.4.5.3. Channel Strategy
18.1.5. Maxim Integrated
18.1.5.1. Overview
18.1.5.2. Product Portfolio
18.1.5.3. Profitability by Market Segments
18.1.5.4. Sales Footprint
18.1.5.5. Strategy Overview
18.1.5.5.1. Marketing Strategy
18.1.5.5.2. Product Strategy
18.1.5.5.3. Channel Strategy
18.1.6. Texas Instruments Incorporated
18.1.6.1. Overview
18.1.6.2. Product Portfolio
18.1.6.3. Profitability by Market Segments
18.1.6.4. Sales Footprint
18.1.6.5. Strategy Overview
18.1.6.5.1. Marketing Strategy
18.1.6.5.2. Product Strategy
18.1.6.5.3. Channel Strategy
18.1.7. Fairchild Semiconductor International
18.1.7.1. Overview
18.1.7.2. Product Portfolio
18.1.7.3. Profitability by Market Segments
18.1.7.4. Sales Footprint
18.1.7.5. Strategy Overview
18.1.7.5.1. Marketing Strategy
18.1.7.5.2. Product Strategy
18.1.7.5.3. Channel Strategy
18.1.8. ON Semiconductor Corporation
18.1.8.1. Overview
18.1.8.2. Product Portfolio
18.1.8.3. Profitability by Market Segments
18.1.8.4. Sales Footprint
18.1.8.5. Strategy Overview
18.1.8.5.1. Marketing Strategy
18.1.8.5.2. Product Strategy
18.1.8.5.3. Channel Strategy
18.1.9. STMicroelectronics N.V.
18.1.9.1. Overview
18.1.9.2. Product Portfolio
18.1.9.3. Profitability by Market Segments
18.1.9.4. Sales Footprint
18.1.9.5. Strategy Overview
18.1.9.5.1. Marketing Strategy
18.1.9.5.2. Product Strategy
18.1.9.5.3. Channel Strategy
18.1.10. Freescale Semiconductor, Inc.
18.1.10.1. Overview
18.1.10.2. Product Portfolio
18.1.10.3. Profitability by Market Segments
18.1.10.4. Sales Footprint
18.1.10.5. Strategy Overview
18.1.10.5.1. Marketing Strategy
18.1.10.5.2. Product Strategy
18.1.10.5.3. Channel Strategy
18.1.11. Cypress Semiconductor Corporation
18.1.11.1. Overview
18.1.11.2. Product Portfolio
18.1.11.3. Profitability by Market Segments
18.1.11.4. Sales Footprint
18.1.11.5. Strategy Overview
18.1.11.5.1. Marketing Strategy
18.1.11.5.2. Product Strategy
18.1.11.5.3. Channel Strategy
18.1.12. Biotronik GMBH & CO.KG.
18.1.12.1. Overview
18.1.12.2. Product Portfolio
18.1.12.3. Profitability by Market Segments
18.1.12.4. Sales Footprint
18.1.12.5. Strategy Overview
18.1.12.5.1. Marketing Strategy
18.1.12.5.2. Product Strategy
18.1.12.5.3. Channel Strategy
19. Assumptions & Acronyms Used
20. Research Methodology
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Medical Electronic Market
