Chemical Market ShareAnalysis Medical Implant Market Research Growth Opportuniti | Page 2

Shifting trend towards adoption of implantable medical devices for treatment of a wide range of health conditions is
anticipated to fuel market expansion in near future. Growing preference towards to adoption of implantable medical
devices by healthcare professional, doctors and physicians for diagnosis purposes is anticipated to foster market
growth further.
The frequent adoption of medical implants is increasingly found for monitoring as well as diagnosis purposes.
Presently, the medical implants industry has witnessed substantial progress with immense advancement in micro &
nano-electronics, electrode technology and signal processing techniques, thus substantially influencing overall market
reach in short duration of time.
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Medical implants helps to replace missing or damaged biological body part in the human being. Medical implant are
commonly placed over or inside the tissues or surface of the body. Increasing number of application of the medical
implants for the treatment and diagnosis of wide range of diseases and replacement of the damaged part of the body
are some of the major growth factors for medical implants industry, in the recent years. In addition, increasing
healthcare expenditure by developed economies across the globe coupled with rising per capita income in the
developing economies and increasing ageing population around the world are the key drivers of the medical implant
market.
As per recent reports presented by International Society for Heart and Lung Transplantation, as many as six hundred
pediatric heart transplantation processes are carried out each year globally. Such factors are expected to boost market
demand for medical implant in the upcoming years.
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The neuro-stimulation is considered as one of the fastest growing segment in the medical implant market with
substantial revenue generation in the last couple of years. Growing popularity of the neuro-stimulation marker
segment is attributed to the factors such as increasing patient awareness, recent technological advancements, growing
neurological disorders, ever-increasing geriatric population, cost-effectiveness, and growing FDA approvals for clinical
trials. Additionally, production of enhanced implantable neurostimulation devices, and improved clinical outcomes is
expected to drive growth of neuro-stimulation market segment over the forecast period as well.
The microelectronic medical implant market is divided by region such as North America, Europe, Asia-Pacific, Latin
America and Africa. North America has shown major growth in recent years owing to favorable government initiatives,
increasing approval rate from by various government agencies, growing prevalence of cardiac diseases, rising in the