Medical Implant Market Medical Implant Market | Page 2

micro & nano-electronics, electrode technology and signal processing techniques, thus substantially influencing
overall market reach in short duration of time.
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.
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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.
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 implementation of latest technologies in pharmaceutical & medicine sector, and
existence of well-established healthcare infrastructure.
Asia-Pacific’s market is predicted to hold higher share with massive growth in forecast period. Countries such as
India, China and Japan are leading the Asia-Pacific market with increase in the number of healthcare facilities
and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the microelectronic medical implant market are Zimmer Biomet Holdings Inc., Cochlear Co.,
Medtronic plc, Abbott Laboratories Ltd., Boston Scientific Co., and Philips N.V.
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