Europe Wireless Power for Implantable Medical Devices Market was valued at USD 1.1 Billion in 2022 and is projected to reach USD 1.8 Billion by 2030, growing at a CAGR of 6.4% from 2024 to 2030.
In recent years, the European market for wireless power in implantable medical devices has experienced significant growth, reflecting the increasing demand for innovative healthcare solutions. This surge is driven by the need for more efficient, reliable, and patient-friendly medical implants that enhance the quality of life for individuals with chronic conditions.
Implantable medical devices, such as pacemakers, neurostimulators, and cochlear implants, have traditionally relied on batteries that require periodic surgical replacement. This not only poses risks to patients but also adds to healthcare costs. The advent of wireless power transfer (WPT) technology offers a promising alternative, enabling the recharging of implants without invasive procedures. According to industry reports, the European implantable medical devices market is projected to reach approximately €35 billion by 2030, with a compound annual growth rate (CAGR) of 6.9% from 2022 to 2030. [Source: Business Market Insights]
Industries involved in the development and manufacturing of these devices must adhere to stringent regulatory standards to ensure safety and efficacy. Compliance with IEC 60601, a series of technical standards for the safety and essential performance of medical electrical equipment, is widely accepted as a benchmark. Additionally, ISO 13485 specifies requirements for a quality management system where an organization needs to demonstrate its ability to provide medical devices and related services that consistently meet customer and applicable regulatory requirements. [Source: Wikipedia]
Despite the potential benefits, integrating wireless charging into implantable devices presents challenges. The human body's complex environment can affect the performance of WPT systems, necessitating expertise in electromagnetics, electronics, software, and mechanics during development. Moreover, ensuring that these systems do not interfere with other medical devices is crucial. A study analyzing the FDA's Manufacturer and User Facility Device Experience (MAUDE) database identified 2,843 cases of medical device malfunctions induced by electromagnetic interference (EMI) between January 2010 and March 2017. [Source: Exponent]
To mitigate such risks, manufacturers are implementing safeguards, such as optimizing coil designs for efficient energy transfer and incorporating real-time power and temperature monitoring within implants. These measures aim to prevent tissue damage and ensure patient safety. Additionally, addressing potential EMI effects is vital, as wireless chargers and other electronic devices can interfere with implantable medical devices, leading to malfunctions. [Source: Exponent]
In conclusion, the European market for wireless power in implantable medical devices is poised for substantial growth, driven by technological advancements and the increasing prevalence of chronic diseases. Industries must navigate regulatory requirements and technical challenges to deliver safe and effective wireless charging solutions, ultimately improving patient outcomes and reducing healthcare costs.
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Resonant Link
NuCurrent
WiTricity
Powermat
ICsense
Curonix
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Europe Wireless Power for Implantable Medical Devices Market
Cardiac Devices
Neuromodulation Devices
Orthopedic Devices
Drug Delivery Systems
Other Implantable Devices
Inductive Coupling
Capacitive Coupling
Magnetic Resonance Coupling
Microwave Power Transmission
Cardiology
Neurology
Orthopedics
Oncology
Other Medical Applications
Transmitter Coil
Receiver Coil
Control Unit
Power Management System
Transducer
Hospitals
Ambulatory Surgical Centers
Specialized Clinics
Home Healthcare Settings
Research Institutions
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Europe Wireless Power for Implantable Medical Devices Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Europe Wireless Power for Implantable Medical Devices Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Europe Wireless Power for Implantable Medical Devices Market, By Type
6. Europe Wireless Power for Implantable Medical Devices Market, By Application
7. Europe Wireless Power for Implantable Medical Devices Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Europe Wireless Power for Implantable Medical Devices Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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