Microelectronic Medical Implants Market Growing CAGR of Around 9.1% By Abiomed Inc, Biomet Inc., Cyberonics Inc., Envoy Medical, Medtronic Inc., Microsemi Corporation., Neuropace Inc., Retina Implant AG, Etc

Microelectronic Medical Implants Market Information, by Product Neurostimulators, Drug Infusion Pumps), by Application Pacemakers, Defibrillators, Neurostimulators, Spinal Fusion Stimulators, Implantable Drug Pumps - Forecast till 2022      

Global Microelectronic Medical Implants Market – Segments

The MRFR analysis is segmented into three key dynamics for enhanced understanding.

By Product: Neurostimulators and Drug Infusion Pumps among others.

By Application           : Pacemakers, Defibrillators, Neurostimulators, Spinal Fusion Stimulators, and Implantable Drug Pumps among others.

By Regions: Asia Pacific, North America, Europe, and the Rest-of-the-World.

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Global Microelectronic Medical Implants Market – Insights

The global microelectronic medical implants market is growing vigorously. Thanks to remarkable advances in microelectronics, packaging, biomedical signal processing, and electrode technology.  Microelectronic medical implants have developed into advanced systems, employing wireless telemetry for transmission of data and sometimes power too.

Additional factors propelling the growth of the market include the increasing advancement in the field of healthcare, increasing demand for Nano technology in the field of life science & healthcare, and increasing innovation in capsule endoscopy. The rise in medical implant equipment with technology advancement is a current trend in the market that, with the rising prevalence of cardiovascular issue drive the market to an extent.

On the other hand, factors such as the delayed process the clinical testing and approval for new medical implant obstruct the market growth, further delaying the product cycle and leaving new products to lag behind their predecessors in terms of features and capabilities.

Major Players:

Key players leading the global microelectronic medical implants market include Biomet Inc., Abiomed Inc, Cyberonics Inc., Medtronic Inc., Envoy Medical, Neuropace Inc., Microsemi Corporation., Retina Implant AG, Worldheart Corporation, and St. Jude Medical Inc. among others.   

Global Microelectronic Medical Implants Market – Competitive Analysis

The highly competitive microelectronic medical implants market appears fragmented due to the presence of several large and small players. These players invest increasingly in R&D activities to bring about innovations as well as to better their existing implants.  Manufacturers try to develop implants that can offer surgeons a superior option for fusion surgeries without much of the challenges in the surgical procedures.

Key manufacturers try to offer unique, cutting-edge implant design and surgical solutions that allows surgeons to achieve better outcomes by using controlled incremental expansion design that can restore the gap and optimize the implant efficiently, literally, for each patient. Industry/ Innovation/ Related News:

January 29, 2019 ---- A group of Spanish scientists from Barcelona Microelectronics Institute, CIBER in Bioengineering, and Catalan Institute of Nano sciences & Nanotechnology published their study of technology they invented as a collaboration project. These researched have found a new grapheme-based implant that can map the brains activity below 0.1 Hz of frequency. The prototype created at Barcelona Microelectronics Institute will help in understanding the brains activity exponentially.

November 18, 2018 ---- Silvaco, Inc. (the US), a privately-owned provider of electronic design automation software and TCAD process and device simulation software announced its collaboration with the Institute for Microelectronics, TU Wien, one of the major universities in Vienna (Austria) for new MRAM device technology development.

June 29, 2018 ---- Researchers at California Institute of Technology (the US), announced the developments of a wireless pressure-sensing eye implant that could help prevent blindness.

Global Microelectronic Medical Implants Market – Regional Analysis

The North American region dominates the global microelectronic medical implants market. Large advancements in micro and Nano technologies and their integration with medical science is a key driving force pushing up the market growth in this region. Moreover, the advancing manufacturing processes of medical devices and implants with the contribution of nanotechnology is acting as a major tailwind.

The U.S. and Canada account for the key contributors to the growth in the regional market.  Growing with the substantial investments drawn into R&D activities, the microelectronic medical implants market in North America is expected to grow at 8.7% CAGR throughout the forecast period.

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The European region, heading with the financial support from the government for research and development activities accounts for the second-largest market for microelectronic medical implants, globally. The region is expected to exhibit a phenomenal growth registering a CAGR of 8.9% throughout the review period. Moreover, factors such as the presence of a well-developed healthcare and medical device sector, increasing demand for advanced implants drive the market growth in the region. 

The microelectronic medical implants market in the Asia Pacific region led by the rapidly advancing medical technologies, is emerging as a promising market. Rising investments into R&D to develop new techniques and increasing per capita health care expenditures are some of the major factors supporting the growth of the market in the region. The increasing healthcare expenditure and increasing government funding along with the large unmet needs drive the market growth in the region. 

Furthermore, the large unmet clinical needs are contributing to the growth of the regional market, generating a massive demand for these implants.  The growing awareness about the availability of novel implanting techniques is accelerating the market growth. Additionally, factors such as the burgeoning medical tourism market due to the availability of low-cost, implanting procedures drive the market growth in the region.

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