Dublin, May 12, 2023 (GLOBE NEWSWIRE) -- The "Microelectronic Medical Implants Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global microelectronic medical implants market 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 microelectronic medical implants market is expected to grow to $58.56 billion in 2027 at a CAGR of 9.1%.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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.
The microelectronic medical implants market research report is one of a series of new reports that provides microelectronic medical implants market statistics, including microelectronic medical implants industry global market size, regional shares, competitors with a microelectronic medical implants market share, detailed microelectronic medical implants market segments, market trends and opportunities, and any further data you may need to thrive in the microelectronic medical implants industry. This microelectronic medical implant market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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 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.
In May 2021, Medtronic Plc., an Ireland-based medical technology, services, and solutions, acquired Intersect ENT for an undisclosed sum. By acquiring Intersect ENT, Medtronic has access to PROPEL and SINUVA, two distinctive bioabsorbable, steroid-eluting implants for sinus patients.
This acquisition aligns with Medtronic's strong commitment to strategic portfolio management and capital deployment rigorous methods to increase the company's weighted average market growth rate by carefully deploying resources to support innovation in quickly expanding areas. Intersect ENT is a US-based medical technology company dedicated to advancing the treatment of ear, nose, and throat conditions.
North America was the largest region in the microelectronic medical implants market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the microelectronic medical implants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the microelectronic medical implants market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Reasons to Purchase
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Scope
Markets Covered:
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
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 250 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $41.28 billion |
| Forecasted Market Value (USD) by 2027 | $58.56 billion |
| Compound Annual Growth Rate | 9.1% |
| Regions Covered | Global |
Key Topics Covered:
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
6. Microelectronic Medical Implants Market Segmentation
7. Microelectronic Medical Implants Market Regional And Country Analysis
7.1. Global Microelectronic Medical Implants Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Microelectronic Medical Implants Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
8. Asia-Pacific Microelectronic Medical Implants Market
A selection of companies mentioned in this report includes
- Abiomed Inc.
- Cyberonics Inc.
- Medtronic Inc.
- Neuropace Inc.
- Abbott Laboratories
- Zoll Medical Corporation
- Biotronik Inc.
- Cochlear Ltd.
- Envoy Medical Corporation
- Microsemi Corporation
- Zimmer Biomet
- World heart Corporation
- Schiller Americas Inc.
- Koninklijke Philips N.V.
- St. Jude Medical Inc.
- Xenco Medical
For more information about this report visit https://www.researchandmarkets.com/r/lv9n9b
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