Increasing Prevalence Of Cardiac Disorders, Epilepsy And Parkinson’s Disease To Drive Microelectronic Medical Implants Market Growth Till 2025
The
global microelectronic medical implants market size is anticipated to reach USD
57.12 billion by 2025, according to a new report by Grand View Research, Inc.,
registering a 9.8% CAGR during the forecast period. Increasing prevalence of
cardiac disorders, epilepsy, and Parkinson’s disease, growing regulatory
approvals for new devices and equipment, rising geriatric population, and introduction
of new products are key factors driving market growth.
Regulatory
authorities such as U.S. FDA have approved several new products and devices to
be used by end users, most of which are equipped with new and innovative
technologies that cater to varied consumer demands. These technologies also
increase the ease of use of these products. For instance, in July 2017,
Cochlear Ltd. introduced to the market a cochlear implant sound processor for
iPhone. The U.S. FDA approved this innovation in June 2017.
Increasing
prevalence of diseases such as epilepsy, cardiac disorders, and Parkinson’s
disease have upped the sales of microelectronic electronic implants such as
defibrillators, pacemakers, and neurostimulators. As per WHO, approximately 50
million people have epilepsy, globally, making it one of the most common
neurological disorders. The condition can be treated using neurostimulators
that prevent seizures.
Browse full
research report on Microelectronic Medical Implants Market: www.grandviewresearch.com/industry-analysis/microelectronic-medical-implants-market
Further
Key Findings From the Study Suggest:
- By product, the pacemakers and defibrillators
segment accounted for the largest share in 2016 owing to increasing
prevalence of cardiovascular diseases and rising geriatric population
- RF technology accounted for the largest share
in 2016 as it is employed in wireless implants and helps researchers and
clinicians monitor patient health, capture physiological data, and study
normal and abnormal functioning of the body
- North America commanded the largest share in
the microelectronic medical implants market in 2016 and is expected to
maintain its position over the forecast period. This is owing to favorable
government policies, increasing FDA approvals for various medical devices in
U.S., and high incidence of cardiac diseases
- Key market players include Zimmer Biomet
Holdings, Inc.; Cochlear Ltd.; Medtronic plc; Abbott Laboratories; Zoll
Medical; Boston Scientific Corporation; LivaNova PLC; Biotronik; Schiller;
and Koninklijke Philips N.V.
Browse more
reports of this category by Grand View Research: www.grandviewresearch.com/industry/medical-devices
Grand View Research has segmented the global microelectronic medical
implants market on the basis of product, technology, and region:
Microelectronic
Medical Implants Product Outlook (Revenue, USD Million, 2014 - 2025)
- Pacemakers
& Defibrillators
- Neurostimulators
- Implantable
Drug Pumps
- Spinal
Fusion Stimulators
- Cochlear
Implants
- Ocular
Implants
- Others
Microelectronic
Medical Implants Technology Outlook (Revenue, USD Million, 2014 - 2025)
- RF
Technology
- Sensors
- Other
Technology
Microelectronic
Medical Implants Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North
America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- Asia
Pacific
- Japan
- China
- Latin
America
- Brazil
- Mexico
- Middle
East and Africa (MEA)
- South
Africa
- Saudi
Arabia
Access
Press Release By Grand View Research: www.grandviewresearch.com/press-release/global-microelectronic-medical-implants-market
About Grand
View Research:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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