NEW YORK, June 2, 2016 /PRNewswire/ -- This BCC Research report examines market opportunities for the microelectronic medicalimplant industry and the more advanced products that are rapidly coming into being.Includes forecasts through 2021.
Use this report to:
Analyze the technologies that make possible the more advanced products that are rapidly
The global market for microelectronic medical implants should reach over $37.6 billion in 2021 from over $24.6 billion in 2016 increasing at a compound annual growth rate (CAGR) of 8.8% from 2016 to 2021.The implants market should reach over $35.0 billion by 2021 from over $22.8 billion in 2016, a CAGR of 8.9% from 2016 to 2021.The accessories and supplies market should reach over $2.6 billion by 2021 from nearly $1.8 billion in 2016, a CAGR of 7.8% from 2016 to 2021.
MICROELECTRONIC MEDICAL IMPLANTS
The first and still best-known type of microelectronic medical implant (MMI) is the pacemaker, introduced some 50 years ago. Assisting people with weak or failing hearts to live longer, fuller lives has continued to be a major focus of medical implant research and development (R&D). The pacemaker has been followed by a variety of other implantable cardiac devices, including defibrillators, loop recorders, heart assists and even heart replacements.
Neurostimulators—implantable devices that employ the same principles as pacemakers for the purposes of neural stimulation—have also been introduced.Neurostimulators were used initially for pain relief but are now being used for other eurological indications ranging from the treatment of urge incontinence to preventing epileptic seizures.
Other therapeutic implantable devices have followed, including bone growth stimulators, drug infusion pumps, ear implants that provide a semblance of hearing for the deaf and new middle ear implants. Eye implants that can restore limited vision to people with certain types of blindness were recently approved for use in some markets.
The microelectronic implant industry has come a long way since the first heart pacemakers appeared on the market in the 1970s. Some products, such as neurostimulators, have evolved directly from the pacemaker. Other devices, such as implantable drug infusion pumps, would have been impossible without the development of increasingly sophisticated sensors-on-a-chip and the miniaturization of mechanical parts and circuitry.
Despite these advances, the product cycle in this industry lags considerably behind the available technology due to the lengthy nature of the clinical testing and approval process for new medical devices. As a result, new products often leapfrog their predecessors in terms of features and capabilities.
STUDY GOALS AND OBJECTIVES
This report is an update of an earlier BCC Research report that was published in 2011. It is both a survey of products in the marketplace and a preview of things to come. The goal of the report is to examine market opportunities for the microelectronic medical implant industry and the technologies that make possible the more advanced products that are rapidly coming into being.
Specific objectives of the report include analyzing:
Major implant types and applications, both commercial and developmental.Global market size and segmentation, including historical data on sales by application and implant type.Market drivers and constraints.Detailed market projections through 2021.Industry structure, competition and market shares.Factors that may influence the long-term market for microelectronic implants.
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