Microelectronic Medical Implants Market size was valued at USD 37.44 Billion in 2021 and is projected to reach USD 38.52 Billion by 2030, growing at a CAGR of 9.44% from 2022 to 2032.
Growing elderly population, rising prevalence of Parkinson’s disease, cardiac problems, and epilepsy, as well as the introduction of new products and the rising number of regulatory approvals for new devices, are all major market growth drivers. Epilepsy, heart conditions, and Parkinson’s disease are three conditions with an increasing prevalence that are driving the market for microelectronic medical implants. Microelectronic medical implants that utilise wireless technology have the added advantage of integrating diagnosis and treatment into one device. Among the many alternatives available are cochlear implants, pacemakers, retinal implants, spinal cord stimulators, and other microelectronic medical implants. These implants, which are made of ceramics, metals, and polymers, have been shown to be effective. The main drivers impacting the market for microelectronic medical implants are growing development in the healthcare industry, rising demand for nanotechnology in the life science and healthcare industries, and greater innovation in capsule endoscopy. A rise in medical implant equipment with technological advancement, rising prevalence of cardiovascular disease, and epilepsy are some of the prominent trends that the market is witnessing.
The market for microelectronic medical implants is significantly impacted by the rising prevalence of heart illnesses. Implants like pacemakers and defibrillators are frequently needed for cardiovascular illnesses (CVDs) include cardiac arrest, congestive heart failure, stroke, and coronary artery disorders. According to the WHO, CVDs are the leading cause of death worldwide and were responsible for 31.0% of fatalities in 2015. Of these, 7.4 million perished from coronary heart disease and 6.7 million from strokes, respectively.
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Global Microelectronic Medical Implants Market: Segmentations
Global Microelectronic Medical Implants Market: By Key Players
Medtronic
Abbott
Boston Scientific
Cochlear
Biotronik
Sorin
Abiomed
MED-EL
Nevro
Sonova
Zimmer Biomet
Codman & Shurtleff (J&J)
Lepu
Global Microelectronic Medical Implants Market: By Types
Cardiac Implants
Neurostimulators
Implantable Infusion Pumps
Cochlear Implants
Global Microelectronic Medical Implants Market: By Applications
Pain Management
Cardiac Rhythm Management
Parkinson`s Disease
ENT
Global Microelectronic Medical Implants Market: Regional Analysis
The countries covered in the regional analysis of the Global Microelectronic Medical Implants market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.
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The market for microelectronic medical implants is anticipated to generate several billions of dollars in revenue over the next five years. increasing in terms of effectiveness and safety, indicating a sizable global market for the commercialization of such devices. The development of numerous devices that will eventually be approved by international regulatory organisations will boost the growth of the market for microelectronic medical implants. Neurostimulators are used in a variety of implants for neurological diseases, including those for pain control, cochlear stimulation, medication delivery, and brain monitoring. It is asserted that many of these implants are biocompatible with the human body, extending their lifespan and maintaining their effectiveness. The most recent devices have been engineered to dissipate as little power as possible and the market is going to expand during the forecast period.
Competitive Landscape
With multiple significant businesses, the market for microelectronic medical implants is fragmented. Currently, a select few large companies own the majority of the market share. Some of the most well-known companies are actively acquiring rival companies to improve their standing in the global market.
Report Overview
The competitive landscape section includes an analysis of the worldwide development strategies, market share, and market positioning of the rivals. The study looks at current changes in industry dynamics as well as regional consumer and technological trends. The market study includes a part specifically devoted to key firms and product benchmarking. Sectors, technological advancements, market drivers, and restraints are also included in the research. On a range of subjects, the research offers data-driven insights and suggestions.
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Analysis of the impact of COVID-19 and the Russia-Ukraine War:
The readers of this section will be better informed on the effects of the pandemic, the post-pandemic, and the Russia-Ukraine War on the global market for refrigerated freight services. The factors that have changed since the poll was done include demand, consumption, transportation, consumer behavior, and supply chain management. Industry experts have also emphasized the crucial factors that will help players identify opportunities and maintain the sector as a whole in the approaching years.
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- Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
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- Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
- Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
- The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
- Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
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