Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
An active implantable medical device is an active medical device designed to be partially or totally placed into the human body for therapeutic or diagnostic purposes and is to remain in place. Active implantable medical devices provides major benefits such as high strength, implant stability, resistance to the effects of ionizing radiation and hydrolysis, and mechanical performance, toughness combining strength, and stiffness even after sterilization.
Asia Pacific is the fastest growing region in active implantable medical devices market. The countries such as the China, India and Japan have dominated the market in the past few years. Growing technological advancements in medical devices market, increasing population in countries such as India and China, rising healthcare spending, increasing awareness regarding health and advance medical devices and growing awareness regarding several preventative measures against various cardiovascular and neurological disorders are some of the major driving factors behind the growth of the market in the APAC region.
The exclusive COVID 19 impact analysis report by Axiom MRC provides a 3600 analysis of micro and macro-economic factors on the active implantable medical devices market. In addition, complete analysis of changes on active implantable medical devices market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on regional economies, international trade, business investments, GDP and marketing strategies of key players present in the market.
The study analyses Asia Pacific active implantable medical devices market based on product, end-users and geography.
Active implantable medical devices market by product is segmented into implantable cardioverter defibrillators, ventricular assist devices, implantable heart monitors/insertable loop recorders, neurostimulators, and implantable hearing devices. The implantable cardioverter defibrillators (ICD) segment is further bifurcated into transvenous implantable cardioverter defibrillators and subcutaneous implantable cardioverter defibrillators. ICDs can be used for the treatment of cardiovascular diseases. Furthermore, neurostimulators segment is further segmented into spinal cord stimulators, deep brain stimulators, sacral nerve stimulators, vagus nerve stimulators, and gastric electrical stimulators. Neurostimulators are widely used to treat and relieve symptoms for neurological disorders, including Parkinson’s disease, pain, epilepsy, dystonia, tremor, stroke, tinnitus, and many others. And implantable hearing devices are categorized into active hearing implants and non-active/passive hearing implants. The implantable hearing devices are small, complex electronic device that can help improve hearing of a person who has severe to profound hearing loss.
By end users, the market is segmented into hospitals, ambulatory centers, cardiac centers, dental clinics, and others. Hospitals segment is anticipated to observe lucrative growth opportunities in the coming years. Rising preference of patients towards hospital based implantable procedures and treatments and increasing number of hospitals that provide treatment with these implantable medical devices are attributed to the segment growth.
Country wise, the study is comprised of the key countries such as the China, India, Japan and rest of the Asia Pacific. The China held the largest market share of Asia Pacific active implantable medical devices market and is likely to dominate the market over the estimated time frame. China is the largest country in the world in terms of population and it accounts for approximately one-fourth of the entire world population. Heart diseases are major health problem in China. This is ultimately making more demand for active implantable medical devices in the market.
Alternatively, growing market for India’s medical devices and healthcare sector and continuing technological advancements in the field of medical devices are attributable to the growth of the market across the APAC region. Furthermore, rising old age population in Japan along with rising risk of several diseases is further creating more opportunities for the market to grow in the region.
The major key players of market includes 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.
The study analyses Asia Pacific active implantable medical devices market based on product, end-users, and geography. Active implantable medical devices market by product is segmented into implantable cardioverter defibrillators, ventricular assist devices, implantable heart monitors/insertable loop recorders, neurostimulators, and implantable hearing devices. The implantable cardioverter defibrillators segment is likely to dominate the market over the forecast period. Increased prevalence rate of cardiovascular diseases across the region is attributed to the market growth. By end users, the market is segmented into hospitals, ambulatory centers, cardiac centers, dental clinics, and others. The hospitals segment is likely to register fastest growth in years to come owing to the increasing number of hospitals across the region. Geographically, the study is comprised of the key countries such as China, India, Japan and rest of the Asia Pacific.
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