Growing #medical Device Adoption Brings New Opportunities for Memory Chips

In recent years, the healthcare industry has undergone significant changes, particularly due to the COVID-19 pandemic, which has had a huge impact on traditional healthcare services. The use of electronic monitoring devices for remote care and preventive medicine is becoming increasingly prevalent in the healthcare industry. Nowadays, the growing “Internet of Medical Things” (IoMT) is providing memory chip manufacturers with unprecedented opportunities.

Medical devices have become smaller than ever before in the smart era as they carry out functions outside of hospitals and often need to be brought into patients’ homes. Many devices also must connect to smartphone applications to transmit and store data and allow doctors to monitor remotely.

The memory chips included in smart medical devices are responsible for storing important patient data. Therefore, they must be capable of continuously recording data without the risk of leaks or loss. They must also be suitable for continuous use throughout the device’s lifespan, lasting up to 10 years or more without replacement. For example, a portable insulin pump must run 24/7 to monitor blood sugar levels and be small enough for the patient to wear it at all times, recording essential data for managing the patient’s condition over several hours or even days. More commonly, patients also want their pumps to be connected to their phones so that they can view and analyze the data better.

In fact, medical devices provide an interesting growth opportunity for the Memory IC industry. The demand for home-use portable and wearable medical devices such as insulin pumps, pacemakers, and heart monitoring systems is expected to increase significantly over the next two years. Macronix estimates that nearly 200 million units will be needed by 2026.

As the Memory ICs market struggles to gain a foothold in the uncertain consumer device market, artificial intelligence is not the only way to generate profits. Medical devices and the Internet of Things should be key areas for Memory ICs manufacturers in the coming years. Manufacturers who can meet the demanding needs of healthcare buyers in this field will enjoy ample room for growth.