An active implantable medical device is an active medical device intended and designed to be incompletely or completely placed into the patient’s body for therapeutic or diagnostic purposes and is to remain in place. Active implantable medical devices include several devices such as infusion pumps, defibrillators, pacemakers, cochlear implants, neurostimulators, and ventricular assist systems and devices. These devices play a significant role in management and treatment of many disorders or diseases such as Parkinson’s disease, cardiovascular devices, patients with visual or hearing impairment, spasticity, and epilepsy.
Market Dynamic- The United States Active Implantable Medical Devices Market
The United States active implantable medical devices market has been seeing tremendous growth from the past few years. Increasing prevalence rate of cardiovascular diseases such as heart diseases in the US is primary driving factor behind the market growth in the country. For instance in the United States, heart disease is the leading and major cause of death for women, men, and citizens of most racial and ethnic groups. According to Centre for Disease Control and Prevention (CDC), in the country, one person dies from cardiovascular disease every 36 seconds. Heart disease claims the lives of about 655,000 Americans per year, accounting for one out of every four deaths.
Furthermore, factors such as an rising incidence of neurological disorders in the country, the well-established healthcare industry, increasing diabetes cases due to unhealthy eating habits of the people in the country, thereby rising cardiovascular diseases, well-established medical device industry of the country, the vast existence of several domestic and international medical device manufacturers, increasing annual revenue and production of advanced medical product by these manufacturing companies, and escalating import-export activities in the field of advanced medical devices are accredited to the growth of the market in the United States. For instance, according to International Trade Administration, the United States is the largest market for medical devices in the world. And in 2019, the country’s exports of medical devices exceeded USD 45 billion.
COVID 19 Impact on the United States Active Implantable Medical Devices Market Report
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 United States Active Implantable Medical Devices Market Segmental Overview
The study analyses the United States active implantable medical devices market based on product and end-users.
Active Implantable Medical Devices Market by Product
The United States active implantable medical devices market covers several products such as implantable cardioverter defibrillators, ventricular assist devices, implantable heart monitors/insertable loop recorders, neurostimulators, and implantable hearing devices. The implantable cardioverter defibrillators segment dominated the market in 2020 and is expected to maintain its dominance during the forecast period. The implantable cardioverter defibrillators is further bifurcated into transvenous implantable cardioverter defibrillators and subcutaneous implantable cardioverter defibrillators. The use of subcutaneous implantable cardioverter defibrillators is rapidly increasing in the United States. Early adoption has been related with low complication rates and high rates of effective defibrillation threshold testing (DFT).
Moreover, unexpected cardiac death is one of the major causes of death in the United States, with approximately 180 000–400 000 deaths per year, with a higher prevalence than death from breast cancer, lung cancer, and stroke. Implantable cardioverter defibrillators are effective and are superior to typical pharmacological therapies and are reasonably safe. These benefits provides by these devices are further making them more demandable in the US market.
Active Implantable Medical Devices Market by End Users
Based on end users the market is segmented into hospitals, ambulatory centers, cardiac centers, dental clinics, and others. Hospitals segment is expected to witness rapid growth during the forecast period.
Active Implantable Medical Devices Market Key Players
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, Nurotron Biotechnology Co., Ltd, Zimmer Biomet, Smith & Nephew, Straumann AG, Stryker, Dentsply Sirona, Allergan Inc, and CONMED Corporation among others.