Microelectronic Medical Implants: Products, Technologies & Opportunities
The global market for microelectronic medical implants, accessories, and supplies was worth an estimated $15.4 billion in 2010. The market is projected to grow to $16.3 billion in 2011 and $24.8 billion in 2016, a compound annual growth rate (CAGR) of 8.8%, between 2011 and 2016.
SCOPE OF THE STUDY
This report covers microelectronic devices designed to operate within the human body, including:
- Implantable cardioverter defibrillators (ICDs).
- Implantable loop recorders.
- Ventricular assist blood pumps.
- Artificial hearts.
- Neurostimulator devices used to combat pain, or to treat epilepsy, Parkinson’s disease, and incontinence.
- Spinal fusion stimulators.
- Implanted drug infusion pumps.
- Implanted monitoring devices.
- Cochlear implants to treat the profoundly deaf.
- Retinal implants being developed to treat the blind.
The scope of the report also includes implant-related accessories and supplies, such as batteries and leads. However, the report does not directly cover ancillary devices that function outside the body, such as external telemetry devices and power sources. These are covered in this report only to the extent that is necessary to maintain coherence.
The market projections also do not include the cost of surgical procedures used to insert the devices.
The report covers the entire global market for microelectronic implants. In some segments there is a greater focus on the U.S. market due to greater data availability, but in such cases the global implications of developments in the United States are also analyzed.
The author of this report is Andrew McWilliams. Mr. McWilliams, a partner in the Boston-based international technology and marketing consulting firm 43rd Parallel LLC, is the author of several other BCC Research studies of the healthcare and related industries, including BIO072A − Biotechnologies for Medical Applications: Global Markets; HLC072A − Medical Lasers: Technologies and Global Markets; HLC014D − Telemedicine: Opportunities for Medical and Electronic Providers; HLC082A − Emerging Markets for Advanced Medical Technologies; HLC070A − Preventive Healthcare Technologies, Products, and Markets; HLC066A − Medical Automation Technologies, Products and Markets; HLC036C − Medical Robotics and Computer-Assisted Surgery; HLC051E − The Market for Minimally Invasive Medical Devices; HLC038C − Patient Monitoring; HLC054B − Home Medical Equipment: Technologies and Global Markets; and HLC048C − Healthcare Information Technology.
The global market for microelectronic medical implants was worth an estimated $11.7 billion in 2006. The market is projected to grow to $12.6 billion in 2007 and $22.1 billion in 2012 at a CAGR of 11.9% from 2007 to 2012.
Cardiac implants were by far the largest market segment in 2006, accounting for more than three-quarters of total implant sales. Neurostimulators were the second largest market segment, with about 9% of the market, followed by accessories such as leads and electrodes, with a 7% market share. executive summary (Continued)
However, the market for neurostimulators is projected to grow over twice as fast as the market for cardiac implants from 2007 to 2012, that is, at a CAGR of 20% vs. 10% respectively.
The global market for microelectronic medical implants is projected to be $11.9 billion in 2004 and to rise at an average annual growth rate (AAGR) of 22.1% to $32.3 billion in 2009.
Cardiac implants by far were the largest market segment in 2003, with sales of $7.2 billion, or more than three-quarters of total sales.
Neurostimulators were the second largest market segment, with sales of $944 million, but are projected to grow at an AAGR of 39.7%, more than double that of cardiac implants (18.4%).
The AAGR for accessories and supplies (27.5%) also is expected to outstrip growth of the market as a whole. The slowest-growing market segments likely will be spinal fusion stimulators and implantable drug pumps.
- Eye implants are unlikely to see any commercial sales before 2009.