Microchips in Medicine Market Share

North American Market Forecast

Microchips in Medicine market in North America is predicted to account for the largest share of 35% by 2036 impelled by the growing spending in healthcare. In comparison to other countries, the United States spends a lot more money on healthcare, and personal healthcare spending in the country increased by an average of over 4% year between 2014 and 2020. This may significantly lead to an increase in demand for advanced medical technologies that rely on microchips which would offer a way to monitor and control diseases more efficiently. In 2021, the United States spent more than 2% on health care, amounting to roughly USD 4 trillion per person.

Europe Market Forecast

The Europe microchips in medicine market is estimated to be the second largest, during the forecast timeframe led by the rapid and early adoption of microchips in healthcare. For instance, the use of futuristic microchips implanted under the skin of the hand has been implemented by thousands of Swedes in 2018. There are approximately 2,900 Swedes who have chosen to implant microchips between their thumbs and index fingers.