Global Microelectronic Medical Implants Market by Product (Spinal Fusion Stimulators, Pacemakers & Defibrillators, Implantable Drug Pumps, Neurostimulators) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

In 2016, the global market for microelectronic surgical implants was worth USD 24.80 million. It is forecast to grow at a 9.8% CAGR during the forecast period. Market growth is driven by the increasing prevalence of epilepsy and cardiac disorders, as well as Parkinson's disease and rising geriatric populations. There are also growing regulatory approvals and new product launches.

The market for microelectronic medical implant is seeing a rise in cardiac diseases. Implants for cardiovascular diseases (CVDs), such as stroke, cardiac arrest, congestive hearts failure, and heart attacks, are often required. According to WHO, CVDs were the leading cause for death worldwide in 2015. They accounted for 31.0% global deaths in 2015. These included 6.7 million who died of strokes and 7.4 millions from coronary heart disease.

Epilepsy is a neurological disorder in which a person experiences epileptic seizures. This has positively impacted the demand for microelectronic surgical implants. Epilepsy is one of the most prevalent neurological disorders. It affects approximately 50 million people, according to WHO. Neurostimulators can be used to treat epilepsy. They send mild, but regular pulses of electric energy to the brain via the vagus nerve.

Parkinson's disease (PD), a degenerative disorder in the central nervous system that affects the motor systems, is known as Parkinson's Disease. According to the Parkinson's Foundation, around one million Americans have PD. Each year, about 60,000 Americans are diagnosed. Deep brain stimulation (DBS), also called a brain pacemaker or pacemaker-like device, is a procedure that involves the incision of a pacemaker-like device into the brain to treat PD. These diseases are increasing in prevalence, which is driving market growth.

Many key players have launched innovative products with the latest technology and design. This is increasing competition in the market. In July 2017, Cochlear launched a cochlear sound processor for iPhones. The implant can stream audio directly from compatible iPhones, iPads, and iPods to a surgically embedded sound processor. BIOTRONIK introduced the smallest and most lightweight MR-Conditional pacemaker in Europe in March 2017. They also launched a new line of Quadripolar CRT–Ps. These products have features that enhance patient therapy, comfort, safety, and security.

Product Insights

The market for microelectronic implants can be divided by product into neurostimulators and pacemakers, defibrillators and implantable drug pumps and spinal fusion stimulators. Also, cochlear implants and ocular implants are all segments of the market. In 2016, pacemakers and defibrillators accounted for the largest market share due to rising rates of heart disease and a growing geriatric population. Bradycardia and heart blockage are two common conditions that may warrant a pacemaker.

A pacemaker may be recommended by doctors in Long QT Syndrome (LQTS), a condition in which the pacemaker is used to regulate the pace of the heartbeat. Patients with ventricular arrhythmias or cardiac arrest are usually recommended to use a defibrillator. This segment is forecast to grow significantly and remain at the top of its game over the forecast period.

Pain relief that interrupts the pain signals between the spine and brain is called neurostimulation. Over the forecast period, the segment of neurostimulators is expected to experience the greatest growth.

Technology Insights

The market for microelectronic implants in medical applications can be divided into three segments based on the technologies they use: sensors, RF technology and others. The largest market share was held by RF technology in 2016. Radiofrequency (RF), which is used in wireless implant communication with the circuitry of the body, is used to transmit information. It allows clinicians and researchers to monitor patients' health and capture physiological data. This also helps them study the normal and abnormal functions of the body.

The human body's exposure to high frequency electromagnetic radiation is a major problem when using these technologies. Wireless RF requires significant power and poor transmission through biological tissues. Nevertheless, the development of electromagnetic simulation software as well as analytical models has helped in optimizing RF components for different implants. This has positively impacted market growth.

Regional Insights

The microelectronic market for medical implants is analyzed in North America, Europe and Asia Pacific (MEA), as well as Middle East and Africa (MEA). The dominant market share was held by North America in 2016, and it is expected to see significant growth over the forecast period due to favorable government policies and FDA approvals for different products in the U.S. and high rates of cardiac disease.

Due to the huge untapped market, improved healthcare facilities and rising geriatric populations, the Asia Pacific market for microelectronic surgical implants will experience the greatest growth. This region is also seeing an increase in government spending on healthcare infrastructure. This will likely increase accessibility and affordability of healthcare across multiple countries, which could be a benefit to the APAC market. This market will also benefit from the expansion of medical tourism in the region.

Microelectronic Implants Market Share Analysis

These market leaders include Zimmer Biomet Holdings, Inc., Cochlear Ltd., Abbott Laboratories, Zoll Medical, Boston Scientific Corporation, LivaNova PLC, Biotronik, Schiller, and Koninklijke Philips N.V.

In November 2017, Cochlear was approved by the U.S. FDA for remote programming for its cochlear implant. Remote programming is intended to allow follow-up programming sessions via a telehealth platform for the Nucleus cochlear implant system. This approval will allow it to be more accessible to customers who are unable to access continuing care or those who live far away from the implant center.

Microelectronic Medical Implants Market Scope

The Report Covers Certain Segments

This report provides a forecast of revenue growth at the global, regional and country level and provides analysis on industry trends in each sub-segment from 2014 to 2025. Grand View Research, Inc. analyzed the global market for microelectronic surgical implants on the basis technology, product, and location.

• Product Outlook (Revenue USD Million, 2014-2025)

  • Pacemakers & Defibrillators

  • Neurostimulators

  • Implantable drug pumps

  • Spinal Fusion Stimulators

  • Cochlear Implants

  • Ocular Implants

  • Other

• Technology Outlook (Revenue USD Million, 2014-2025)

  • RF Technology

  • Sensors

  • Other Technology

• Regional Outlook (Revenue USD Million, 2014-2025)

  • North America

    • The U.S.

    • Canada

  • Europe

    • Germany

    • The U.K.

  • Asia Pacific

    • Japan

    • China

  • Latin America

    • Brazil

    • Mexico

  • Middle East and Africa (MEA).

    • South Africa

    • Saudi Arabia

These are the most frequently asked questions about this report

b. With a 43.2% share in 2019, North America was the dominant market for microelectronic surgical implants. This is due to favorable government policies and increased FDA approvals of various products in the U.S. as well as high rates of cardiac disease.

b. Key players in the market for microelectronic surgical implants include Zimmer Biomet Holdings, Inc., Medtronic plc, Abbott Laboratories, Zoll Medical, Boston Scientific Corporation, LivaNova PLC, Biotronik, Schiller, and Koninklijke Philips N.V.

b. Market growth is driven by the increasing prevalence of epilepsy, cardiac disorders, and Parkinson's disease. There are also growing regulatory approvals for new products.

b. Global microelectronic market for medical implants was valued at USD 32,349.9 Million in 2019. It is forecast to grow to USD 35,442.6 Million in 2020.

b. Global microelectronic medical implant market is expected to grow at a compound annual rate of 9.8% between 2018 and 2025, to reach USD 57.12.1 million by 2025.

Up Market Research published a new report titled “Microelectronic Medical Implants Market research report which is segmented by Product (Spinal Fusion Stimulators, Pacemakers & Defibrillators, Implantable Drug Pumps, Neurostimulators), By Players/Companies Zimmer Biomet Holdings, Inc; Cochlear Ltd; Medtronic plc; Abbott Laboratories; Zoll Medical; Boston Scientific Corporation; LivaNova PLC; Biotronik; Schiller; and Koninklijke Philips NV”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Microelectronic Medical Implants Market Report Segments:

The market is segmented by Product (Spinal Fusion Stimulators, Pacemakers & Defibrillators, Implantable Drug Pumps, Neurostimulators).

Microelectronic Medical Implants Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Microelectronic Medical Implants Market

Overview of the regional outlook of the Microelectronic Medical Implants Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Microelectronic Medical Implants Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Microelectronic Medical Implants Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Spinal Fusion Stimulators

                2. Pacemakers & Defibrillators

                3. Implantable Drug Pumps

                4. Neurostimulators

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Microelectronic Medical Implants Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Microelectronic Medical Implants Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.