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Active Implantable Medical Devices Market is Likely to Present an Opportunity Worth US$ 20.73 Billion by 2025

06-20-2018 04:10 PM CET | Health & Medicine

Press release from: Transparency Market Research

Active Implantable Medical Devices Market is Likely to Present

A number of leading players in the global active implantable medical devices are investing extensively in the research and development of their new implants, finds a new research report by Transparency Market Research (TMR). These players are also involving into partnerships with hospitals and dermatologists to increase the sales of their products. Boston Scientific Corp., Abbott Laboratories, Medtronic Plc, Sonova Holding AG, LivaNova Plc, BIOTRONIK SE & Co. KG, Cochlear Ltd., William Demant Holding A/S, Nurotron Biotechnology Co. Ltd., and MED-EL Medical Electronics are some of the leading players in the global market for active implantable medical devices. These players are expected to use innovative strategies to widen their product portfolio in order to improve their market position over the next few years, states the research report.

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According to the research report, the opportunity in the global active implantable medical devices market is likely to expand at a CAGR of 4.40% over the period from 2017 to 2025 and reach a value of US$20.73 bn by the end of the forecast period. Implantable cardioverter defibrillators (ICDs) are registering a relatively greater demand and are anticipated to continue doing so over the forthcoming years.

Hospitals, ambulatory surgery centers (ASCs), and specialty clinics have surfaced as the key end users of active implantable medical devices across the world. Hospitals, among these, are expected to report a higher uptake of these device in the years to come. In terms of the region, North America led the global market in 2016 with a share of 33.5%. Researchers project the scenario to remain more or less the same over the forthcoming years, notes the market study.

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“The increasing prevalence of cardiovascular and neurological disorders among people across the world is the main factor that has been influencing the growth of the global market for active implantable medical devices,” says the author of this research study. Apart from this, the market’s growth is also influenced by frequent product approvals and continual product launches. Companies are introducing innovative and novel products so as to maintain competitive advantage, carve new markets and lay foundation for sustained business growth, states the research report.

On the flip side, challenges related to the usage of active implantable medical devices, such as device failure and concerns related to cybersecurity, may hamper the growth of the worldwide market for active implantable medical devices in the years to come. However, the rising healthcare expenditure associated with the increasing number of patients with cardiovascular diseases (CVDs) and neurological disorders is likely to fuel the demand for active implantable medical devices, supporting the growth of this market over the next few years, reports the market study.

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About Us

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com/

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