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.
Request a Sample Copy of the Global Microelectronic Medical Implants Market Research Report @ https://www.grandviewresearch.com/industry-analysis/microelectronic-medical-implants-market/request/rs1
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.
Have Any Query? Ask Our Experts@ https://www.grandviewresearch.com/inquiry/1827/ibb
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
- Implantable Drug Pumps
- Spinal Fusion Stimulators
- Cochlear Implants
- Ocular Implants
Microelectronic Medical Implants Technology Outlook (Revenue, USD Million, 2014 – 2025)
- RF Technology
- Other Technology
Microelectronic Medical Implants Regional Outlook (Revenue, USD Million, 2014 – 2025)
- North America
- Asia Pacific
- Latin America
- Middle East and Africa (MEA)
- South Africa
- Saudi Arabia
Browse Related Category @
Cryotherapy Market: Adoption of minimally invasive procedures and the surging prevalence of cancer have led to increased use of cryotherapy for various applications
Medical Electronics Market: The high growth is anticipated on account of increasing demand for imaging systems in healthcare facilities and the dominance of healthcare therapeutics
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1-415-349-0058, Toll Free: 1-888-202-9519
Address:201, Spear Street, 1100
City: San Francisco
Country: United States