A recent report published by Infinium Global Research on active implantable medical devices market provides an in-depth analysis of segments and sub-segments in the global as well as regional active implantable medical devices market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional active implantable medical devices market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global active implantable medical devices market. According to the report, the global active implantable medical devices market is projected to grow at a CAGR of 4.6% over the forecast period of 2018-2024.
The active implantable medical device is a powered device that inserted into a patient body either through a natural orifice or by surgical means. These devices are helping to control body functions and support damaged biological structures or improve an existing biological structure. Implantable cardiac pacemakers, implantable defibrillators, cochlear implants, implantable hearing aids, implantable glucose monitors and ventricular assist devices (VAD) are some the active implantable medical devices. These devices play a major role in the management of a number of diseases such as cardiovascular, neurological, and patients with hearing or visual deficiency.
Cardiovascular disease is the leading cause of death around the world. The growing prevalence of the neurological disorder, hearing disorder and cardiovascular diseases across the globe are expected to drive the demand for active implantable medical devices. According to the American Heart Association, 4,600,000 people have congestive heart failure, and 550,000 new cases of congestive heart failure are diagnosed each year. Cardiac pacemakers are medical devices that are used for the treatment of congestive heart failure. Moreover, innovations and advancements in the implantable medical devices contribute to the growth of an active implantable medical device market. In addition, favorable reimbursement policies by a government are anticipated to fuel the market in the coming years However, different regulatory frameworks for implantable medical devices across various countries are expected to slump the market growth. Furthermore, stringent regulatory policies regarding the AIMS along with high cost of implants have a negative impact on the growth of active implantable medical devices market. Nevertheless, rising government funding in the research and development activity coupled with growing healthcare infrastructure in the emerging market provides the growth opportunities for the active implantable medical devices market in the forecast period.
Among the region, North America dominated the active implantable medical devices market owing to the technological advancement in developing novel active implanted device. Moreover, high accessibility to advanced technologies, highly developed infrastructures, the increasing prevalence of cardiovascular and neurological disorder and growth in geriatric populations are some factors responsible for the growth of active implantable medical devices market in the region. The Asia Pacific is expected to witness the fastest growth in the market. The factors such as growing incidences of chronic disease, increasing healthcare expenditure, and increasing demand for advanced technologies to develop advanced products are contributing to the growth of active implantable medical devices market in the region.
The report on global active implantable medical devices market covers segments such as product types. On the basis of product types, the sub-markets include implantable cardiac pacemakers, implantable defibrillators, implantable Neuro Stimulator systems, cochlear implants, haemodynamic support, implantable glucose monitors, insertable cardiac monitor (implantable monitoring devices), ventricular assist devices (VAD), implantable infusion pumps and accessories, and others.
The report provides profiles of the companies in the market such as Abbott, Medtronic, Boston Scientific Corporation, Nurotron Biotechnology Co. Ltd., LivaNova PLC, Biotronik Se & Co., Kg, Med-EL, Sonova Holding AG, and Cochlear Ltd.
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