Global active implantable medical devices market is expected to reach USD 30.42 Billion by 2025, at a CAGR of 9.24% from 2018 to 2025. The key contributing factors for the market growth are increasing cardiovascular and neurological diseases, growing elderly population, technological advancements in procedures and enhanced applications of neurotransmitters.
An active implantable medical device is introduced into the human body either totally or partially for diagnostic or therapeutic purposes. This is intended to remain in place. It offer wide range including pacemakers, defibrillators, infusion pumps, ventricular assist systems and devices, cochlear implants and neurostimulators. These devices have applications in a number of diseases such as cardiovascular devices, Parkinson’s disease, epilepsy, spasticity, and patients with hearing or visual impairment. Rising number of cardiovascular system diseases and chronic pain diseases have a positive impact on the growth of the market. For instance, according to the World Health Organization (WHO), around 17 Billion deaths were registered annually from cardiovascular diseases. Leading players are investing in the development of advanced products, which are user friendly.
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- The base year for the study has been considered 2017, historic year 2015 and 2016 and, the forecast period considered is from 2018 to 2025. The active implantable medical devices market is analysed on the basis of value (USD Billion).
- The study delivers a comprehensive analysis of global active implantable medical devices market by product, end user, and regions.
- The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2018 to 2025.
- Porter’s Five Forces model is used in order to recognize the competitive scenario in the global active implantable medical devices market. This report incorporates the industry analysis which is focused on providing an extensive view of the active implantable medical devices market.
- The study also includes attractiveness analysis of product, end user and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market.
- The report provides company profile of the key players operating in the active implantable medical devices market and a comparative analysis based on their business overviews, product offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
- The market estimates have been evaluated by considering the effect of different political, economic, social, technological and legal factors which are based on our extensive secondary research, primary research, and in-house databases.
- Rising prevalence of cardiovascular and neurological disorders
- Increase in investment to develop advanced products and new product launches
- Expanded applications of neurotransmitters
- Favourable ENT procedures and reimbursement policies in developed countries
- High cost associated with the cardiac and neurostimulators implantable devices
- Adverse healthcare reforms and issues associated to the use of implantable medical devices
- Increasing demand from emerging markets
- Development of advanced devices such as subcutaneous implantable cardiovascular defribilators
- High cost and increasing price pressure from competitors
- Lack of skilled professionals
Regional Segmentation Analysis:
The regions analysed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. North America region dominated the global active implantable medical devices market with USD 6.23 Billion in 2017 where as Asia pacific region expected to register the highest growth rate in the forecast period.
Key players in the active implantable medical devices market are Abbott Laboratories, Medtronic plc, BIOTRONIK SE & Co. KG, Boston Scientific Corporation, Cochlear Limited, LivaNova PLC, Sonova Holding AG, MED-EL William Demant Holding A/S, Nurotron Biotechnology Co., Ltd. and others. The Cochlear Limited, William Demant Holding A/S and Nurotron Biotechnology Co., Ltd. are the top leading players of the market.
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