Active Implantable Medical Devices Market Insights And key Companies Cochlear Limited, Boston Scientific Corporation, Medtronic Plc, LivaNova Plc, Abbott Laboratories, Sonova Holding AG, William Demant holding A/S, Nurotron Biotechnology Co., Ltd

The global active implantable medical devices market was valued at US$ 16,721.2 million in 2016 and is expected to witness a robust CAGR of 5.4% over the forecast period (2017–2025).

Active implantable medical devices are totally or partially introduced into the body by a surgical procedure in a natural orifice. The device remains in that position after the procedure and relies on external electrical energy or any other external power source to function. Active implantable medical devices fall into highest risk categories of medical devices listing of the U.S. Food & Drug Administration (FDA). Implantable pacemaker, cochlear implants, implantable defibrillators, drug infusion pumps, neurostimulator, and cardiac resynchronization therapy devices are some of the active implantable medical devices. These devices play a significant role in management of a number of diseases such as cardiovascular devices, Parkinson’s disease, epilepsy, spasticity, and patients with hearing or visual impairment. Pacemakers and implantable cardioverter defibrillators (ICDs) are significant components in the management of cardiovascular conditions. Strong magnetic field used in Magnetic Resonance Imaging (MRI) procedures could adversely affect the functioning of conventional pacemaker. However, MRI compatible pacemakers can facilitate safe MRI scans, which in turn is expected to increase the adoption of pacemakers. For instance, MRI compatible pacemakers, and leadless pacemakers have been introduced in the market since 2011 by Medtronic, and BIOTRONIK

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Advancements in technology in the product space and new product launches is expected to boost growth of the active implantable medical devices market

Leading players in the market are focusing on development and launching of new products in order to remain competitive in the market and retain their market share. Initially, these devices were large in size, however, miniaturization of pacemakers and ICDs has simplified the implantation procedure and miniaturization of the products reflects the continuous innovation in the products. This is expected to fuel demand for such products, in turn reflecting growth of the market. For instance, Medtronic’s first leadless pacemaker Micra TPS was approved by the U.S. Food & Drug Administration in 2016 and is known to be the smallest pacemaker. Other innovations such as cardiac contractility modulation, and wireless pacing are expected to positively impact growth of the active implantable medical devices market. Implantable continuous glucose monitoring (Sensonic’s Eversense CGM with implantable sensor, which lasts up to 90 days), and implantable infusion pumps are also expected to propel market growth. Introduction of wireless technology and mobile connectivity has further led to increased functions and effectiveness of these devices. For instance, Cochlear Ltd. collaborated with Apple, Inc. to offer cochlear implants with iPhone connectivity, which was launched in July 2017.

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This release was published on openPR.