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A Comprehensive Report on the Global Microelectronic Medical Implants Market 2023-2032 || Abiomed Inc., Cyberonics Inc., Medtronic Inc., Neuropace Inc., Abbott Laboratories
Microelectronic Medical Implants Market
The Business Research Company's Microelectronic Medical Implants Global Market Report 2023 identifies the rising prevalence of hearing impairments is the major driver for the microelectronic medical implants market's growth in the forecast period. Hearing impairment is the inability to hear as well as someone with normal hearing, defined as hearing thresholds of 20 dB or better in both ears. Microelectronic medical implants can improve hearing in people with severe hearing loss who are no longer helped by using hearing aids; hence, they will boost the microelectronic medical implants market. For instance, according to the World Health Organization (WHO), a Switzerland-based intergovernmental organization responsible for providing leadership on global health matters, in 2021, it is expected that by 2050, approximately 2.5 billion individuals will have some degree of hearing loss, and at least 700 millions of them will need hearing rehabilitation.
The global microelectronic medical implants market size is expected to grow from $37.62 billion in 2022 to $41.28 billion in 2023 at a compound annual growth rate (CAGR) of 9.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global microelectronic medical implants market size is expected to grow to $58.56 billion in 2027 at a CAGR of 9.1%.
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Major competitors in the microelectronic medical implants market are Abiomed Inc., Cyberonics Inc., Medtronic Inc., Neuropace Inc., Abbott Laboratories, Zoll Medical Corporation, Biotronik Inc., Cochlear Ltd., Envoy Medical Corporation.
A key trend in the microelectronic medical implants market includes technological advancements. Major companies operating in the microelectronic medical implants market are developing advanced technologies to strengthen their position in the market. For instance, in October 2020, Medtronic Plc., an Ireland-based provider of medical technology, services, and solutions, launched the Adaptix Interbody System based on Titan nanoLOCK surface technology. Adaptix Interbody System is the first navigated Titanium implant mirrored after the veteran Capstone Spinal System, touts improved features for increased strength, subsidence resistance, data-backed bone growth, and easy insertion.
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The microelectronic medical implants market is segmented -
• By Product: Neurostimulators, Drug Infusion Pumps, Pacemakers, Defibrillators, Spinal Fusion Stimulators, Implantable Drug Pumps, Hearing Implants, Eye Implants, Ocular Implants, Other Products
• By Technology: Radiofrequency, Sensors, Other Technologies
• By Material: Metals, Titanium, Stainless Steel, Platinum, Gold Brazed Alloys, Polymers, Ceramics, Other Materials
• By Application: Cardiology, Neurology, Ophthalmology, Oncology, Other Applications
• By End-Users: Hospitals And Clinics, Ambulatory Surgical Centres
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the microelectronic medical implants market share.
The Business Research Company's "Global Microelectronic Medical Implants Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Microelectronic Medical Implants Market Include:
1. Executive Summary
2. Microelectronic Medical Implants Market Characteristics
3. Microelectronic Medical Implants Market Trends And Strategies
4. Microelectronic Medical Implants Market - Macro Economic Scenario
5. Microelectronic Medical Implants Market Size And Growth
……………
27. Microelectronic Medical Implants Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Microelectronic Medical Implants Market
29. Microelectronic Medical Implants Market Future Outlook And Potential Analysis
30. Appendix
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