Microelectronic Medical Implants Market Report

Microelectronic Medical Implants Market Analysis Report by Product (Pacemakers & Defibrillators, Neurostimulators, Implantable Drug Pumps, Spinal Fusion Stimulators), by Technology, And Segment Forecasts, 2014 - 2025

  • Published Date: Feb, 2018
  • Base Year for Estimate: 2016
  • Report ID: GVR-2-68038-318-8
  • Format: Electronic (PDF)
  • Historical Data: 2014-2016
  • Number of Pages: 87

Industry Insights

The global microelectronic medical implants market size was valued at USD 24.80 billion in 2016 and is expected to develop at a CAGR of 9.8% during the forecast period. Increasing prevalence of epilepsy, cardiac disorders, and Parkinson’s disease, rising geriatric population, growing number of regulatory approvals for new devices, and launch of new products are key factors driving market growth. 

U.S. microelectronic medical implants market

Growing incidence of cardiac disorders is playing a key role in the market for microelectronic medical implants. Cardiovascular diseases (CVDs) such as cardiac arrest, congestive heart failure, stroke, and coronary artery diseases often require implants such as pacemakers and defibrillators. According to WHO, CVDs are the leading cause of death globally and in 2015, accounted for 31.0% of global deaths. Of these, 6.7 million people died from a stroke and 7.4 million due to coronary heart disease.

Epilepsy, a neurological disorder wherein a patient experiences epileptic seizures, has also been on a rise, postively impacting demand for microelectronic medical implants. As per WHO, approximately 50 million people have been living epilepsy, making it one of the most common neurological disorders. The disorder can be treated using neurostimulators, which prevent seizures by sending regular and mild pulses of electrical energy to the brain through the vagus nerve.

Parkinson’s disease (PD) is a degenerative disorder of the central nervous system, which affects the motor system. As per the Parkinson’s Foundation, approximately one million Americans live with PD and around 60,000 Americans are diagnosed with PD each year. Deep brain stimulation (DBS) is a surgery performed to implant a pacemaker-like device, also known as a brain pacemaker, into the brain tissue to treat PD. Growing prevalence of these diseases is increasing the adoption of microelectronic medical implants, thereby propelling market growth.

Key players have been launching many new and innovative products equipped with latest technology and design, which is increasing the competition in the market. For instance, in July 2017, Cochlear introduced a cochlear implant sound processor for iPhones. This implant can stream audio from a compatible iPod, iPad, or iPhone directly to a surgically embedded sound processor. In March 2017, BIOTRONIK launched the smallest and lightest MR-Conditional pacemaker and a new range of Quadripolar CRT-Ps in Europe. These new products are equipped with features that improve patient therapy, comfort, and safety.

Product Insights

On the basis of product, the market for microelectronic medical implants is segmented into pacemakers and defibrillators, neurostimulators, implantable drug pumps, spinal fusion stimulators, cochlear implants, ocular implants, and others. Pacemakers and defibrillators held the largest market share in 2016, owing to increasing incidence of cardiac diseases and rising geriatric population. Common conditions for which a patient may require a pacemaker are heart blockage and bradycardia.

Doctors may also recommend a pacemaker in cases of Long QT Syndrome (LQTS), heart muscle problems resulting in slow travel of electric signals to the heart muscle, slow heartbeat, heart medicines that slow the heartbeat, arrhythmias, aging, or heart diseases that damage the sinus node’s ability to set the correct pace for your heartbeat. Defibrillators are generally recommended for patients suffering from ventricular arrhythmias and cardiac arrest. This segment is expected to register significant growth and maintain its position over the forecast period.

Neurostimulation is a pain relief procedure that disrupts pain signals between the spinal cord and the brain.Various conditions that require neurostimulators are Failed Back Syndrome (FBS), radicular pain syndrome or radiculopathies, postlaminectomy pain, multiple back operations, unsuccessful disk surgery, Degenerative Disk Disease (DDD), peripheral causalgia, epidural fibrosis, arachnoiditis, and Complex Regional Pain Syndrome (CRPS). The neurostimulators segment is expected to witness the fastest growth over the forecast period.

Technology Insights

Based on technologies used, the market for microelectronic medical implants is segmented into RF technology, sensors, and others. In 2016, RF technology accounted for the largest market share. Radiofrequency (RF) technology is used in wireless implants to communicate with the circuitry outside the body. It helps researchers and clinicians monitor patient health, capture physiological data, and study normal and abnormal functioning of the body.

A prime challenge in using such technologies is exposure of the human body to electromagnetic effects at high frequencies. In addition, wireless RF suffers poor transmission through biological tissues and requires significant power to operate. Nevertheless, development of electromagnetic simulation software and analytical models have aided in designing and optimizing RF components for various implants, positively impacting market growth.

Regional Insights

Regions analyzed in the microelectronic medical implants market are North America, Europe, Asia Pacific, Latin America, and Middle East and Africa (MEA). North America held the dominant share in 2016 and is anticipated to witness significant growth during the forecast period owing to favorable government policies, increasing FDA approvals for various products in U.S., and high incidence of cardiac diseases.

Global microelectronic medical implants market

The Asia Pacific market for microelectronic medical implants is expected to witness the highest growth over the forecast period owing to massive untapped market potential, improving healthcare facilities, and rising geriatric population in this region. In addition, government spending on developing healthcare infrastructure is also growing in this region. This is likely to improve accessibility and affordability of healthcare among several countries, which could benefit the APAC market. Growing medical tourism in the region will also support the growth of this market.

Microelectronic Medical Implants Market Share Insights

Key market players include Zimmer Biomet Holdings, Inc.; Cochlear Ltd.; Medtronic plc; Abbott Laboratories; Zoll Medical; Boston Scientific Corporation; LivaNova PLC; Biotronik; Schiller; and Koninklijke Philips N.V. Strategies such as geographic expansion, launch of new products, gaining regulatory approvals, and mergers and acquisitions are being adopted by these players to increase the reach of their products and strengthen their product portfolios.

For instance, in November 2017, Cochlear received U.S. FDA approval for a remote programming option for its cochlear implants. The remote feature aims to enable follow-up programming sessions for the Nucleus Cochlear Implant System through a telehealth platform. This approval is expected to increase its penetration among customers unable to access continued care and those living far from the implant center. 

Report Scope

Attribute

Details

Base year for estimation

2016

Actual estimates/Historical data

2014 - 2015

Forecast period

2017 - 2025

Market representation

Revenue in USD Million & CAGR from 2017 to 2025

Regional scope

North America, Europe, Asia Pacific, Latin America, & MEA

Country scope

U.S., Canada, U.K., Germany, Japan, China, Brazil, Mexico, South Africa, and Saudi Arabia

Report coverage

Revenue, competitive landscape, growth factors, and trends

15% free customization scope (equivalent to 5 analysts working days)

If you need specific market information, which is not currently within the scope of the report, we will provide it to you as a part of customization


Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis on latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research, Inc. has segmented the global microelectronic medical implants market report on the basis of product, technology, and region:

  • Product Outlook (Revenue, USD Million, 2014 - 2025)

    • Pacemakers & Defibrillators

    • Neurostimulators

    • Implantable Drug Pumps

    • Spinal Fusion Stimulators

    • Cochlear Implants

    • Ocular Implants

    • Others

  • Technology Outlook (Revenue, USD Million, 2014 - 2025)

    • RF Technology

    • Sensors

    • Other Technology

  • Regional Outlook (Revenue, USD Million, 2014 - 2025)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

    • Asia Pacific

      • Japan

      • China

    • Latin America

      • Brazil

      • Mexico

    • Middle East and Africa (MEA)

      • South Africa

      • Saudi Arabia

Key questions answered by the report
Request for Customization

Choose License Type

Single User - $5,950
Multi User (2-5) - $7,950
BI Library Access - $9,950

Buy Chapters or Sections

Avail customized purchase options to meet your exact research needs:

  • Buy sections of this report
  • Buy country level reports
  • Request for historical data
  • Request discounts available for Start-Ups & Universities

Why Choose Us

  • Research support

    24/5 Research support

    Get your queries resolved from an industry expert.

  • Custom research service

    Custom research service

    Design an exclusive study to serve your research needs.

  • Quality assurance

    Quality assurance

    A testimonial for service in the form of BBB "A" Accreditation.

  • BBB Rating dandb
  • Information security

    Information security

    Your personal and confidential information is safe and secure.

  • grand view research PCI DSS complaint grand view research paypal verified