Microelectronic Medical Implants Market

Market Study on Microelectronic Medical Implants: New Innovations making inroads attribute to the Market’s Growth

Microelectronic Medical Implants Market Segmented By Pacemaker & Defibrillators, Neurostimulators, Implantable Drug Pumps, Spinal Fusion Stimulators, Cochlear Implants, Ocular Implants Product Type with RF Technology, Sensors Technology

  • June-2022
  • PMRREP33122
  • 324 Pages
  • Healthcare
  • PPT, PDF, WORD, EXCEL

Microelectronic Medical Implants Market Outlook

The microelectronic medical implants market is expected to expand its roots in the global market at a promising CAGR of 8.5% between 2022 and 2032.

The market is valued at US$ 43.4 Bn in 2022 and is expected to reach US$ 98.5 Bn by 2032. Previously, the market was thriving at a slightly higher CAGR of 9.5% (2015-2021), ensuring a market size of US$ 39.6 Billion in 2021.

"The increasing number of epilepsy cases, cardiac disorders and Parkinson's disease coupled with growing geriatric population and compliances for a new medium, devices, and launch of new products are pushing the sales of microelectronic medical implants."

The increasing cases of cardiovascular disorders and epilepsy, along with cardiac arrest and congestive heart failure, and strokes, are driving the sales of microelectronic medical implants.

The implants involve pacemakers and defibrillators, with new-gen technology, helping cardiac patients. This helps in the expansion of the microelectronic medical implants market size.

Growing cases of epilepsy are also pushing the demand for microelectronic medical implants. Microelectronic medical implants help in preventing the effects of epilepsy by neutralizing them with neurostimulators, sending regular and mild pulses of electrical energy to the brain through the vagus nerve.

Parkinson's disease is a degenerative disorder that attacks the nervous system, largely hitting the motor system. The study at Parkinson's Foundation states that more than 60 thousand Americans are diagnosed with Parkinson's. Also, deep brain stimulation (DBS) is a type of surgery that is used in implanting the brain pacemaker to help in the treatment.

The overall increasing number of diseases and the awareness around the treatment are fueling the growth prospects for microelectronic medical implants.

Attributes

Details

Microelectronic medical implants Market CAGR (2022-2032)

8.5%

Microelectronic medical implants Market Value (2022)

US$ 43.4 Bn

Microelectronic medical implants Market Value (2032)

US$ 98.5 Bn

Find Out More about the Report Coverage

Companies

  • Abiomed Inc.
  • Zimmer Biomet Inc.
  • Envoy Medical
  • Medtronic Inc
  • Microsemi Corporation
  • Neuropace Inc.
  • Cochlear Ltd.
  • Abbott Laboratories
  • Zoll Medical
  • Boston Scientific Corporation

What is COVID-19 Impact on the Microelectronic medical implants Market?   

The spread of covid-19 has filled up hospitals and healthcare units as people are infected, and the conditions turned serious during the peak of the spread. This led to the delay and cancellation of major surgeries scheduled throughout the whole period.

Though the post COVID-19 implications have led to multiple health conditions like poor cardiovascular conditions and respiratory help. The microelectronic medical implants market analysis has focused on explaining how the advent of covid-19 has shaped various markets differently.

It has adversely affected some markets, damaging the supply chains, expanding the distribution channels, and pushing markets into. However, it has also been beneficial for a set of markets, especially the healthcare and diagnostics market. The microelectronic medical implants market has grown through the course of covid-19 with a higher demand for constant oxygen supplies in hospitals and other healthcare units.

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What Factors Contribute to the Growth of the Microelectronic Medical Implants Market?

"With the new sensor technology coming through in the market, integrating with the latest platforms like machine learning and AI are pushing the healthcare industry to adopt implants, fueling the demand for microelectronic medical implants."

Global research on the microelectronic medical implants market explains that the market drives by the growing geriatric generation, rising cardiovascular disease (CVDs), and other diseases like Parkinson's and Epilepsy. The major source that gains traction for the microelectronic medical implants market.

Technological advancements like Artificial Intelligence and machine learning are shaping trends in the market. Neurological disorders, hearing impairments, and cardiovascular diseases and their treatment process demand for neurostimulators and pacemakers, pushing the overall sales of microelectronic medical implants.

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Which Factor Limits the Growth of the Microelectronic Medical Implants Market?

Acceptability of high-frequency electromagnetic waves is a major concern during technological deployment. Wireless RF also has a limited transmission among biological tissues and consumes a lot of energy to operate. This restricts the market growth along with high capital investment limiting the market’s growth.

Tools like pacemakers, retinal implants, spinal cord stimulators, and upgrades on these are bound to the research and development programs. The small spending through the government is slowing down the process of experimenting with these tools, lowering the opportunities for the market.

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What are the Opportunities Prevailing in the Microelectronic Medical Implants Market?

The growing healthcare industry is structured with a strong base made with technological advancements. The market creates opportunities for the component markets. Also, new tools like brain pacemakers and microelectronic spinal fusion stimulators are also in demand, making companies strengthen their strategy for the new generation markets.

Doctors recommend a pacemaker in the cases of Long QT Syndrome (LQTS), and heart muscle problems, pushing the sales of microelectronic medical implants.

Covid-19 and its spread have created a vacuum for new opportunities, declining the growth of the market. The pandemic has restrained growth by limiting the supply chain and filling up hospitals with patients. This delayed and canceled the surgeries, affecting the sales of microelectronic medical implants. Other challenges involve dropped revenue due to covid-19, implant alternatives, and organic healthcare practices.

Comparative View of Adjacent Microelectronic Medical Implants Market

Attributes

Microelectronic medical implants Market

CAGR (2022-2032)

8.5%

Market Value (2026)

US$ 60.15 Bn

Growth Factor

Rising demand for nanotechnology, life sciences and healthcare along with increasing cases of cardiovascular disorder and Parkinson are increasing the sales of microelectronic medical implants.

Opportunity

New vendors using advanced technology to help patients with the upgrades in their medical tools like pace makers and brain pace makers create tons of opportunities for the new market space.

Key Trends

Demand for Microelectronic medical implants rise with the growing trends like integration of AI and ML while manufacturing these microelectronic medical implants.

Comparative View of Adjacent Pacemakers Market

Attributes

Pacemakers Market

CAGR (2022-2032)

2.0%

Market Value (2026)

US$ 5.20 Bn

Growth Factor

The increased use of pacemakers with growing cardio disorders due to unhealthy lifestyles are pushing the sales of pacemakers in the new regions globally.

Opportunity

Research and development programs initiated around the healthcare and life sciences are creating multiple opportunities for the pacemaker market.

Key Trends

New nanotechnology and integration of other latest technologies with it to give the end user an effective and instant relief through the treatment process is shaping the trends for the market.

Comparative View of Adjacent Defibrillator Market

Attributes

Defibrillator Market

CAGR (2022-2032)

9.5%

Market Value (2026)

US$ 18.2 Bn

Growth Factor

Government plans on providing public-access defibrillators to the people who suffer from targeted diseases through training and awareness programs are fueling the demand for defibrillators in the global market.

Opportunity

The market creates opportunities for the vendors to create new tools with better precision and accuracy to restore the normal heartbeat.

Key Trends

Emerging Markets and development of S-ICDs and MRI-compatible ICDs & CRT-Ds are expected to set the trends for the defibrillators market.

Global trends in the microelectronic medical implant market are the advent of nanotechnology in microsurgeries and treatment. The trend-setting is largely done with the vendors spending high capital on research and development programs related to nanotechnology and its use in the healthcare and life sciences sector.

It benefits the end user and patients with precision and accuracy, helping in the expansion of the microelectronic medical implants market. The latest trend also owes to the high number of cases of cardiovascular disorders, Parkinson and epilepsy, pushing the healthcare giants to come up with new technology to counter these diseases.

What is the Segmentation Outlook for the Microelectronic Medical Implants Market?

The microelectronic medical implants market is divided by products and technology. These categories have multiple segments that are used in different types of diseases and can be helpful in more than one type of disease.

These segments have different roles that are used in different healthcare regions. The product category has multiple options of defibrillators, implants, and fusion implants, while implant technology stretches from radio frequency to sensor type.

Which Segment is likely to Lead the Microelectronic Medical Implants Market by Product Type?

The microelectronic medical implants market outlook defines its product type segments into pacemaker & defibrillators neurostimulators, implantable drug pumps, spinal fusion stimulators, cochlear implants, and ocular implants. The leading segment in the product type category is pacemakers & defibrillators. Its growth is attributed to its common use of it and longer shelf life along with the doctor's prescriptions followed by easy surgical processes.

The segment is growing with a CAGR of 8.4% between 2022 and 2032, while the segment was thriving at a higher CAGR of 9.4% in the last forecast (2015-2021). This increases the overall sales of Microelectronic medical implants in multiple regions.

Which Segment is likely to Lead the Microelectronic Medical Implants Market by Technology?

The microelectronic medical implants market analysis divides the technology category into RF technology and Sensor. The biggest segment that thrives on the top of these segments is the RF Technology segment.

The use of RF technology in wireless telemetry techniques, wireless medical neural systems, and wireless endoscopy devices has created a lot of traction for a specific technology. Growing at a slightly higher CAGR of 9.6%, the hospital segment now flourishes at a CAGR of 8.5%, increasing the microelectronic medical implants market size.

Which is the Leading Region in the Microelectronic Medical Implants Market?

Regions

CAGR (2022-2032)

United States

8.3%

United Kingdom

7.2%

China

7.9%

Japan

6.8%

South Korea

6.4%

The microelectronic medical implants market survey divides the market into regions; North America, Latin America, Asia Pacific, Middle East and Africa (MEA), and Europe. The biggest and highest growing market is the United States, flourishing at a CAGR of 8.3% between 2022-2032. The region is likely to hold a market revenue of US$ 35.2 Bn through 2032.

The rising demand for pacemakers and defibrillators in the new market, along with rising cases of Parkinson's, epilepsy, and neuron disorders, is pushing the demand for the sales of microelectronic medical implants.

Other regions like Asia pacific include the second-highest growing region for the microelectronic medical implants market, China's market is booming at a CAGR of 7.9%, and Japan is also growing at a CAGR of 6.8% while they are growing at forecasted values are 7.1 Bn and 5.7 Bn respectively. UK will hold US$ 4.1 Bn by the end of 2032 as it thrives on a CAGR of 7.2% between 2022-2032.

How is the Competition in the Microelectronic Medical Implants Market?  

Emerging trends in the microelectronic medical implants market are creating a competitive landscape for the vendors that deal with new product launches and deals. Companies focus on having mergers and collaborations with the other respective companies. The market has a dynamic nature and it allows new vendors to participate in the competition. The key players are Abiomed Inc., Zimmer Biomet Inc., Envoy Medical, Medtronic Inc., and Microsemi Corporation.

Recent Developments in the Microelectronic Medical Implants Market

  • Zimmer Biomet has launched its ROSA Robotics segment that is integrated with microelectronics medical implants supplies, helping hospitals and healthcare institutions in structuring their spaces. This pushes the demand for microelectronic medical implants.
  • Abiomed Inc has its own series of research and development programs that will keep a database of the developments that later on get implemented while manufacturing these microelectronic medical implants, fueling the sales of microelectronic medical implants.

Report Scope

Attributes

Details

CAGR

8.5%

Forecast period

2022-2032

Historical data available for

2015-2021

Market analysis

USD Bn for Value

Key Countries Covered

  • U.S.
  • Canada
  • Brazil
  • Mexico
  • Germany
  • Italy
  • France
  • U.K.
  • Spain
  • Russia
  • BENELUX
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Indonesia
  • Malaysia
  • Australia and New Zealand
  • GCC Countries
  • Turkey
  • Northern Africa
  • South Africa

By Market Segments

  • Gas Type
  • Equipment Outlook
  • Application
  • End-Users

Key Companies Profiled

  • Abiomed Inc.
  • Zimmer Biomet Inc
  • Envoy Medical
  • Medtronic Inc
  • Microsemi Corporation

Pricing

Available Upon Request

Key Segments:

By Product Type

  • Pacemaker & Defibrillators
  • Neurostimulators
  • Implantable Drug Pumps
  • Spinal Fusion Stimulators
  • Cochlear Implants
  • Ocular Implants

By Technology

  • RF Technology
  • Sensors

By Region

  • North America
  • Latin America
  • Asia Pacific
  • Europe
  • MEA

- FAQs -

The microelectronic medical implants market is set to grow at a CAGR of 8.5% through 2032.

The Pacemaker and Defibrillators segment is the leading product segment in the microelectronic medical implants market, thriving at a CAGR of 8.4% through 2032.

The United States has the highest growth potential in the market as it thrives on a CAGR of 8.3% between 2022 and 2032.

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