The microelectronic medical implants market was valued at US$ 27,461.2 million in 2018 and it is projected to reach US$ 59,561.4 million in 2027; it is expected to grow at a CAGR of 9.4% from 2019 to 2027.
Microelectronic medical implants are medical devices incorporated with microelectronic components which are placed inside the body of the patient. Microelectronics has gained roots in healthcare with an increase in the demand of microelectronic medical implants and extensive use of various technologies such as Radio Frequency (RF) technology for developing these devices. Proper collaboration between healthcare providers, engineers, materials scientists and micro-technologists will result in successful implementation of microelectronics in medical science. Microelectronic medical implants help to speed up diagnosis of disease and continuously monitor patient condition. The growth of the global microelectronic medical implants market is attributed to the increasing burden of cardiovascular diseases, neurological disorders & hearing disorders, increasing technological advancements, and large pool of geriatric population. However, high cost of products and procedures andhigh rate of product recalls are the major factor hindering the market growth.
The global microelectronic medical implants market is expected to witness substantial growth post-pandemic. The COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The COVID-19 crisis has overburdened public health systems in many countries and highlighted the strong need for sustainable investment in health systems. As the COVID-19 pandemic progresses, the healthcare industry is expected to see a drop in growth. The life sciences segment thrives due to increased demand for invitro diagnostic products and rising research and development activities worldwide. However, the medical technologies and imaging segment is witnessing drop in sales due to a smaller number of surgeries being carried out and delayed or prolonged equipment procurement. Additionally, virtual consultations by healthcare professionals are expected to become the mainstream care delivery model post-pandemic. With telehealth transforming care delivery, digital health will continue to thrive in coming years. In addition, disrupted clinical trials and the subsequent delay in drug launches is also expected to pave the way for entirely virtual trials in the future. New technologies such as mRNA is expected to emerge and shift the pharmaceutical industry and market is also expected to witness more vertical integration and joint ventures in coming years.
Lucrative Regions for Global Microelectronic Medical Implants Market
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Market Insights
Increasing Burden of Cardiovascular Diseases, Neurological Disorders and Hearing Disorders to Drive Global Microelectronic Medical Implants Market Growth
The increasing technological advancements have opened more opportunities of developing new and innovative medical implant devices with advanced electrical properties that can improve diagnosis and treatment of previously intractable conditions such as, cardiovascular diseases, neurological disorders, hearing disorders and others. Medical implantable devices like pacemakers, cochlear implants, ventricular assist devices, spinal cord stimulators and others, are used to treat these conditions.
In 2017, according to the World health organization, the increasing prevalence of cardiovascular diseases is the major cause of death all over the world. Moreover, it was mentioned that 17.9 million people across the globe died due to cardiovascular diseases in 2016.
Furthermore, rising neurological disorders like Alzheimer’s disease, Parkinson’s disease, epilepsy and others, drive the demand for microelectronic medical implants. According to the Alzheimer's Association in 2017, around 44 million people have Alzheimer’s or other related dementia worldwide. According the World Health Organization (WHO), nearly 466 million people have disabling hearing loss worldwide, in 2018. It also predicted that by 2050, over 900 million people will suffer from disabling hearing loss.
Thus, such high prevalence of cardiovascular diseases, neurological disorders and hearing disorders globally is anticipated to lead the market growth in the coming years.
Product -Based Insights
In terms of product, the global microelectronic medical implants market is segmented into pacemakers & defibrillators, neurostimulators, implantable drug pumps, cochlear implants, ocular implants, retinal implants, and others. In 2018, the pacemakers & defibrillators segment held largest share of the market. However, the cochlear implants segment is estimated to register the highest CAGR during the forecast period.
Global Microelectronic Medical Implants Market, by Product – 2018 and 2027
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Technology-Based Insights
Based on technology, the global microelectronic medical implants market is segmented into radiofrequency, sensors, and others. The radiofrequency segment held the largest market share in 2018. Also, the same segment is estimated to grow at the highest CAGR during the forecast period.
Material-Based Insights
In terms of material, the global microelectronic medical implants market is segmented into metals, polymers and ceramic implants. In 2018, the metal implants segment held largest share of the market. Also the same segment is expected to register the highest CAGR during the forecast period.
Application-Based Insights
In terms of application, the global microelectronic medical implants market is segmented into cardiology, neurology, ophthalmology, oncology and others. In 2018, the cardiology segment held largest share of the market. Moreover, the same segment is expected to register the highest CAGR during the forecast period.
End User-Based Insights
In terms of end user, the global microelectronic medical implants market is segmented into hospital, ambulatory surgical centers, and others. The hospitals segment held the largest share of the market in 2018. Also, the same segment is estimated to grow at the fastest rate during the forecast period.
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Microelectronic Medical Implants Market: Strategic Insights
Market Size Value in US$ 27,461.2 Million in 2018 Market Size Value by US$ 59,561.4 Million by 2027 Growth rate CAGR of 9.4% from 2019-2027 Forecast Period 2019-2027 Base Year 2019
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Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Microelectronic Medical Implants Market: Strategic Insights
| Market Size Value in | US$ 27,461.2 Million in 2018 |
| Market Size Value by | US$ 59,561.4 Million by 2027 |
| Growth rate | CAGR of 9.4% from 2019-2027 |
| Forecast Period | 2019-2027 |
| Base Year | 2019 |
Akshay
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Akshay will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
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The global microelectronic medical implants market players are adopting the product launch and expansion strategies to cater to changing customer demands worldwide, which also allows them to maintain their brand name globally.
Global Microelectronic Medical Implants Market – by Product
- Pacemakers & Defibrillators
- Neurostimulators
- Implantable Drug Pumps
- Cochlear Implants
- Ocular Implants
- Retinal Implants
- Others
Global Microelectronic Medical Implants Market – by Technology
- Radiofrequency
- Sensors
- Others
Global Microelectronic Medical Implants Market – by Material
- Metals
- Titanium
- Stainless Steel
- Platinum
- Gold Brazed Alloys
- Other Metals
- Polymers
- Ceramics
Global Microelectronic Medical Implants Market – by Application
- Cardiology
- Neurology
- Ophthalmology
- Oncology
- Others
Global Microelectronic Medical Implants Market – by End- User
- Hospitals and Clinics
- Ambulatory Surgical Centres
- Others
Global Microelectronic Medical Implants Market – by Geography
North America
- US
- Canada
- Mexico
Europe
- France
- Germany
- Italy
- UK
- Spain
- Rest of Europe
Asia Pacific (APAC)
- China
- India
- South Korea
- Japan
- Australia
- Rest of APAC
Middle East & Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
South America and Central America (SCAM)
- Brazil
- Argentina
- Rest of SCAM
Company Profiles
- Sonova
- NeuroPace, Inc.
- Abbott (St. Jude Medical, Inc.)
- Medtronic
- Cochlear, Ltd.
- LivaNova PLC
- ABIOMED
- Boston Scientific Corporation
- BIOTRONIK, Inc.
- Zimmer Biomet
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product By Technology , By Material By Application , By End User and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
The List of Companies - Microelectronic Medical Implants Market
- Medtronic
- Abbott (St. Jude Medical, Inc.)
- Boston Scientific Corporation
- Zimmer Biomet
- BIOTRONIK, Inc.
- NeuroPace, Inc.
- Sonova
- LivaNova PLC
- Cochlear, Ltd.
- ABIOMED
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Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
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- 3.1 Macro-Economic Factor Analysis:
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The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
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