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 di...