Microelectronic Medical Implants Market Analysis By Product (Neurostimulators and Drug Infusion Pumps) Application
(Spinal
Fusion
Stimulators,
Pacemakers,
Hearing Implants, Eye Implants) and Segment Forecasts To 2022
Global microelectronic medical implants market is expected to witness remarkable growth over the forecast period due to increasing incidences of cardiac disorders, epilepsy and Parkinson’s disease. Medical implants of microelectronic components are induced in patient’s body to achieve desired physiological response. Enhanced safety and higher efficiency rate are expected to further drive the market demand for these devices. Pipeline products awaiting approval by the regulatory authority may further enhance the market opportunities for microelectronic implants market.
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The microelectronic medical implants market is segmented on the basis of products as neurostimulators and drug infusion pumps. Neurostimulators are based on pacemakers and are used in various implants such as deep brain stimulator, drug delivery, spinal cord stimulators, pain management implants, brain monitors, vagus nerve stimulators and cochlear stimulators. Neurostimulators such as hearing implants and implantable drug pumps are expected to gain larger market share over the forecast period. On the other hand, drug infusion pumps, manufactured through sensors on chip technology, miniaturization of mechanical components and circuitry of medical devices are expected to gain significant market growth in the near future.
The pumps inject fluid into patient’s circulatory system as they produce quite high but controlled pressures. The pressures are controlled by machines or manually by patients also but it avoids the problem of tampering by patients as the devices display only a small subset of features. Microelectronic medical implants are found in pacemakers, spinal infusion stimulators, hearing implants and eye implants. North America held the highest share pertaining to factors such as high incidences of cardiac diseases and favorable government policies. European market is expected to witness a higher market growth owing to increasing geriatric population base. Rise in disposable income and high prevalence of cardiac disorders in India and China may speed up the growth of microelectronics market in Asia pacific region. Some prominent players in microelectronics medical implants market are Abiomed Inc., Cyberonics Inc., Worldheart Corporation, Biomet Inc., Retina Implant AG, Medtronic Inc., St. Jude Medical Inc., Neuropace Inc., Sound Tec Inc. and Envoy Medical. Companies are adopting advanced patient monitoring techniques to improve maintenance of health records and better patient management.
There exists tremendous opportunities for those industry players who are striving to develop extensive techniques using less power and offering wide area of operations.
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