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Microelectronic Medical Implants Global Market Report 2024 - By Report, Size, Share, Industry Demand, Forecast To 2033
Microelectronic Medical Implants Market
As per the report, the microelectronic medical implants market size has grown rapidly in recent years. It will grow from $41.26 billion in 2023 to $45.52 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The microelectronic medical implants market size is expected to see rapid growth in the next few years. It will grow to $66.65 billion in 2028 at a compound annual growth rate (CAGR) of 10.0%.
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Rising Hearing Impairments Propel Growth In Microelectronic Medical Implants Market A Future Outlook
The rising prevalence of hearing impairments is expected to boost the microelectronic medical implants market going forward. 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. Therefore, the rising prevalence of hearing impairments is driving the growth of the microelectronic medical implant market.
Revolutionary Innovations Propel Microelectronic Medical Implant Market Cochlear's Nucleus 8 Sound Processor Sets New Standards
Technological advancements have emerged as the key trend gaining popularity in the microelectronic medical implant market. Major companies operating in the microelectronic medical implants market are developing advanced technologies to strengthen their position in the market. For instance, in November 2022, Cochlear Limited, an Australia-based medical device and microelectronic medical implant company, announced that the Cochlear Nucleus 8 Sound Processor had received approval from the U.S. Food and Drug Administration (FDA). The Nucleus 8 Sound Processor incorporates Cochlear's most recent and advanced hearing technology, which can detect changes in a person's surroundings and automatically modify their listening settings. It also contains an improved ForwardFocus+ function, which effectively lowers distracting background noise to improve the clarity of face-to-face interactions, even in busy surroundings.
The microelectronic medical implants market covered in this report is segmented -
1) By Product: Neurostimulators, Drug Infusion Pumps, Pacemakers, Defibrillators, Spinal Fusion Stimulators, Implantable Drug Pumps, Hearing Implants, Eye Implants, Ocular Implants, Other Products
2) By Technology: Radiofrequency, Sensors, Other Technologies
3) By Material: Metals, Titanium, Stainless Steel, Platinum, Gold Brazed Alloys, Polymers, Ceramics, Other Materials
4) By Application: Cardiology, Neurology, Ophthalmology, Oncology, Other Applications
5) By End-Users: Hospitals And Clinics, Ambulatory Surgical Centres
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Major companies operating in the microelectronic medical implants market report are Abiomed Inc., Cyberonics Inc., Medtronic Inc., Neuropace Inc., Abbott Laboratories, Zoll Medical Corporation, Biotronik Inc., Cochlear Ltd, Envoy Medical Corporation, Microsemi Corporation, Zimmer Biomet Holdings Inc., World Heart Corporation, Schiller Americas Inc., Koninklijke Philips NV, St Jude Medical Inc., Xenco Medical, Advanced Bionics AG, Boston Scientific Corporation, Debiotech SA, Edwards Lifesciences Corporation, EndoStim Inc., EnteroMedics Inc., GlaxoSmithKline plc., Greatbatch Inc., ImThera Medical Inc., Inspire Medical Systems Inc., Integra LifeSciences Corporation, LivaNova PLC., Med-El Elektromedizinische Geräte GmbH, MicroPort Scientific Corporation .
Contents of the report:
1. Executive Summary
2. Microelectronic Medical Implants Market Report Structure
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 Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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