Active Implantable Medical Devices Market

Active Implantable Medical Devices Market Research, 2030

Active Implantable Medical Devices Market to surpass USD 77.1 Billion by 2030 from USD 38.7 Billion in 2021 at a CAGR of 8% throughout the forecast period, i.e. 2021-30.

Active implantable medical device refers to any active medical device that is intended to be inserted in a natural orifice, completely or partially, surgically or medically, into the human body or by medical intervention, and which is intended to stay in place after the operation. AIMDs are subject to both pre-and post-market strict regulatory controls. Active implantable medical devices are operated devices that are implanted, either through a natural orifice or through surgical means, into the body of a patient and are intended to stay after the operation in the patient's body. Usually, such instruments are battery-powered, and the power supply may be either contained in the instrument or attached to wires protruding from the body of the patient. Implementations in this group range from blood oxygen level monitor to sophisticated heart-lung devices that can take over the cardiopulmonary functions of a patient during surgery.

Market Highlights

The key growth drivers for the implantable and life-sustaining devices market are factors such as aging population growth, increasing prevalence of cardiovascular and neurological disorders, investments and funds for the production of technologically advanced goods, expanded applications of neurostimulators, and favorable reimbursement scenarios for ENT procedures in developed countries. In addition, rising chronic diseases and developments in successful implantable medical devices are expected to fuel the growth of the market over the forecast period.

Global Active Implantable Medical DevicesMarket: Segments

Implantable cardioverter-defibrillators Segment to grow with the highest CAGR of 8% during 2019-30

Global Active Implantable Medical devices market is segmented by product type into implantable cardioverter defibrillators, neurostimulators, implantable cardiac pacemakers, implantable hearing devices, ventricular assist devices, implantable heart monitors/insertable loop recorders. Implantable cardioverter-defibrillators, which further divided into transvenous implantable cardioverter defibrillators and subcutaneous implantable cardioverter defibrillators, held the largest share in the global active implantable medical devices market in 2018, owing to the rising incidence of cardiovascular diseases, the production of technologically advanced devices in developing countries and the increasing demand for these devices. Transvenous implantable cardioverter defibrillators, which further segmented into biventricular implantable cardioverter defibrillators, dual-chamber implantable cardioverter defibrillators and single-chamber implantable cardioverter defibrillators held largest market share in the global active implantable cardioverter defibrillators market in 2018, as compared to subcutaneous implantable cardioverter defibrillators.

The neurostimulators market is expected to witness the highest growth during the forecast period owing to the significant increase in demand for neurostimulators, especially deep brain stimulators, across the globe. The growing prevalence of chronic pain, such as neuropathic pain, diabetes pain, arthritis pain, and injury pain, is increasing the demand for neurostimulators significantly.

Global Active Implantable Medical DevicesMarket: Market Dynamics

Drivers

Increasing prevalence of cardiovascular diseases and neurological disorders

Key factors such as the growing prevalence of cardiovascular diseases and the increasing incidence of neurological disorders, the market for active implantable medical devices is increasing. The leading cause of premature death around the world is cardiovascular disease. The primary medical devices used to treat various cardiovascular disorders are implantable cardioverter defibrillators and implantable cardiac pacemakers. One of the important drivers of market growth is the growing geriatric population. Moreover, rising chronic diseases are expected to fuel market growth in accordance with developments in successful implantable medical devices.

Increasing R&D investments

The increasing burden of cardiovascular and neurological diseases and investments and funds to develop technologically advanced goods, as well as growing R&D funding for healthcare and increasing R&D developments in emerging economies, are some of the factors that drive market growth. In the future, due to the growing number of patients with cardiovascular diseases and neurological disorders, rising spending on healthcare is expected to fuel demand for active implantable medical devices worldwide over the next few years.

Restrain

High cost of Active Implantable Medical Devices products

High implantable medical device costs and unfavorable reimbursement policies, concerns related to the use of implantable medical devices, and high costs are key obstacles that hinder the implementation of solutions for active implantable medical devices. However, growing demand for non-invasive treatments, implantable device-related complications and high device costs are expected to hinder market growth over the coming years.

Global Active Implantable Medical Devices Market: Regions

Global Active Implantable Medical devices market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC and MENA.

Global Active Implantable Medical devices market in North America held the largest market share of 8% in the year 2018. North America holds the largest share is primarily attributed to the growth in the geriatric population, increasing prevalence of cardiovascular and neurological diseases, high accessibility to advanced technologies, increasing development of innovative and technologically advanced products, and increasing healthcare expenditure in the region. However, Asia-Pacific is expected to witness the highest growth rate during the forecast period. Growth in the Asia-Pacific market can be attributed to the growth in the geriatric population, growing incidence of chronic diseases, rising healthcare spending, healthcare reforms for infrastructural development, growing demand for advanced technologies to develop advanced products, and less stringent regulations.

Competitive Landscape

The Global Active Implantable Medical Devices market, which is highly competitive, consists of several major players such as Medtronic plc, Abbott Laboratories, and Boston Scientific Corporation hold a substantial market share in the Global Active Implantable Medical Devices market. Other players analyzed in this report are Medtronic plc (Ireland) and Nurotron Biotechnology Co. Ltd. (China) among others

Recently, various developments have been taking place in the market. For instance, In May 2016, Boston Scientific Corporation launched the Precision Montage MRI Spinal Cord Stimulator (SCS) System after receiving approval from the U.S. Food and Drug Administration. The Precision Montage System offers customized relief to patients with chronic pain, while also enabling safe access to full-body magnetic resonance imaging (MRI) in a 1.5 Tesla environment.

Global Active Implantable Medical DevicesMarket is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
• APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
• MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA

Global Active Implantable Medical Devices Market: Key Players

• Abbott Laboratories

  • Company Overview
  • Business Strategy
  • Key Product Offerings
  • Financial Performance
  • Key Performance Indicators
  • Risk Analysis
  • Recent Development
  • Regional Presence
  • SWOT Analysis
• Biotronik Se & Co., Kg
• Boston Scientific Corporation
• Cochlear Limited
• Livanova PLC
• Med-EL
• Medtronic PLC
• Nurotron Biotechnology Co. Ltd.
• William Demant Holding A/S

Global Active Implantable Medical DevicesMarket report also contains analysis on:

Global Active Implantable Medical DevicesMarket Segments:

By Product:

• Implantable Cardioverter Defibrillators
  • Transvenous Implantable Cardioverter Defibrillators
    • Biventricular Implantable Cardioverter Defibrillators/Cardiac Resynchronization Therapy Defibrillators
    • Dual-Chamber Implantable Cardioverter Defibrillators
    • Single-Chamber Implantable Cardioverter Defibrillators
• Subcutaneous Implantable Cardioverter Defibrillators
• Neurostimulators
  • Spinal Cord Stimulators
  • Deep Brain Stimulators
  • Sacral Nerve Stimulators
  • Vagus Nerve Stimulators
  • Gastric Electrical Stimulators
• Implantable Cardiac Pacemakers
• Implantable Hearing Devices
  • Active Hearing Implants
  • Non-active/Passive Hearing Implants
• Ventricular Assist Devices
• Implantable Heart Monitors/Insertable Loop Recorders
• Active Implantable Medical DevicesMarketDynamics
• Active Implantable Medical DevicesMarketSize
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints