An active implantable medical device is an active medical device designed and intended to be partially or totally introduced into the human body for therapeutic or diagnostic purposes and is to remain in place. Active implantable medical devices include a wide variety of devices such as defibrillators, pacemakers, infusion pumps, cochlear implants, ventricular assist systems and devices, and neurostimulators. These active medical devices play an important role in management of various diseases such as Parkinson’s disease, cardiovascular devices, spasticity, epilepsy, and patients with visual or hearing impairment.
The global active implantable medical devices market has been seeing tremendous growth from the past few years. The demand for active implantable medical devices is primarily driven by factors such as rising prevalence rate of cardiovascular diseases, increasing occurrence of neurological disorders, and growing funds and investments to develop technologically advanced products. Likewise, increasing application areas of neurostimulators, supportable reimbursement scenario for End procedures in developed economies, and rising growth opportunities for the markets in developing countries are some of the major factors that expected to expand market growth during the forecast period.
Nevertheless, issues associated with the use of active implantable medical devices and high cost related to implant procedures are major restraining factors that could hamper the growth of the market.
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 global economies, international trade, business investments, GDP and marketing strategies of key players present in the market.
The study analyses global 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 expected to witness high growth during the forecast period. The implantable cardioverter defibrillators segment is further bifurcated into transvenous implantable cardioverter defibrillators and subcutaneous implantable cardioverter defibrillators. The major growth factors such as rising prevalence rate of cardiovascular diseases, surge in the demand for these devices in emerging countries and development and introduction of innovative devices are attributed to the growth of the segment.
Furthermore, neurostimulators segment is further segmented into spinal cord stimulators, deep brain stimulators, sacral nerve stimulators, vagus nerve stimulators, and gastric electrical stimulators. And implantable hearing devices are categorized into active hearing implants and non-active/passive hearing implants.
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. 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 market growth in end users segment.
Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific and Rest of the World. North America held the largest market share of global active implantable medical devices market and is likely to dominate the market over the estimated time frame. The US and Canada are expected to dominated the market in coming years. The massive presence of major market players, rising incidence of neurological and cardiovascular diseases, increasing research and development of technologically advanced and innovative products, high availability to advanced technologies, and growing healthcare spending in the region are the key factors propelling the growth of this market.
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 global 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 globe 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 globe. Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific and Rest of the World.
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