New York, April, 2021: Axiom Market Research & Consulting™ added a report on global active implantable medical devices market which includes study on product and end users across various countries of key regions across the globe. The global active implantable medical devices market was projected to grow at a CAGR of 8.1% for the forecast period 2021 to 2027. The global market is estimated and forecasted in terms of revenue (USD Million) by the active implantable medical devices market.
The factors such as increasing prevalence rate of cardiovascular diseases, rising occurrence of neurological disorders, and increasing funds and investments to develop technologically advanced products are likely to contribute to the healthy growth of the market. Moreover, rising elderly population is one of the significant drivers impelling the growth of the market.
The report analyses the global active implantable medical devices industry based on product, end user, and geography. The product segment of the industry is segmented into implantable cardioverter defibrillators, ventricular assist devices, implantable heart monitors/insertable loop recorders, neurostimulators, and implantable hearing devices. The major end users of active implantable medical devices are hospitals, ambulatory centers, cardiac centers, dental clinics, and others. The global active implantable medical devices market is studied across various key countries of regions such as, North America, Europe, Asia Pacific and Rest of the World.
The rapid adoption of the implantable cardioverter defibrillators devices by several end users such as hospitals, cardiac centers and many others is the key driving factor that is accredited to the growth of the segment. In addition, factors such as increasing introduction of these devices by market players and high adoption for the treatment of several of cardiovascular diseases are accelerating the growth of the segment.
Increasing number of hospitals, rising spending in healthcare settings and adoption of technologically advanced medical devices for treatment are likely to contribute to the segment growth. Alternatively, rapid growth in the global dental implants market is further accelerating the global market growth in end users segment.
North America is expected to witness the fastest growth in upcoming years owing to hold significant market share. The US followed by Canada and Mexico is projected to be the fastest growing market owing to presence well-established healthcare industry across the region. Furthermore, ongoing technological advancements, growing research and developments in the field of implantable medical devices, increasing incidence of neurological and cardiovascular diseases, and presence of various leading active implantable medical devices manufacturing companies such as Abbott Laboratories, Boston Scientific Corporation, and many others is further creating more opportunities for the market to growth in NA region.
The key competitors of this market include Medtronic plc, Abbott Laboratories, Boston Scientific Corporation, BIOTRONIK SE & Co. KG, LivaNova PLC, Cochlear Limited, MED-EL, Sonova Holding AG, William Demant Holding A/S, Nurotron Biotechnology Co., Ltd, Zimmer Biomet, Smith & Nephew, Straumann AG, Stryker, Dentsply Sirona, Allergan Inc, Microport Scientific Corporation and CONMED Corporation among others.
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