Active Implantable Medical Devices Market Investment Research Report And Key Players Cochlear Limited, Boston Scientific Corporation, Medtronic, LivaNova, Abbott Laboratories

The active implantable medical devices market is estimated to grow at a CAGR of 7.8% from 2017 to 2022 to reach USD 26.75 Billion by 2022. Factors such as growth in aging population, increasing prevalence of cardiovascular and neurological diseases, investments and funds to develop technologically advanced products, expanded applications of neurostimulators, and favorable reimbursement scenario for ENT procedures in developed countries are the primary growth drivers for the implantable and life-sustaining devices market. However, unfavorable healthcare reforms in the U.S., issues related to the use of implantable medical devices, and the high cost of implants may hinder the growth of this market to a certain extent.

In this report, the market is segmented on the basis of product and region. On the basis of product, the market is segmented into implantable cardioverter defibrillators, implantable cardiac pacemakers, implantable heart monitors/insertable loop recorders, ventricular assist devices, neurostimulators, and implantable hearing devices. The implantable cardioverter defibrillators segment accounted for the largest share of the implantable and life-sustaining devices market in 2016, owing to the increasing incidence of cardiovascular diseases, development of technologically advanced devices, and increasing demand for these devices in emerging countries.

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Geographically, the global active implantable medical devices market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. In 2016, North America commanded a major share of the global implantable and life-sustaining devices market. North America’s largest share is primarily attributed to the growth in 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 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.

However, restraining factors for the market growth are risks associated with use of active implantable medical devices, which are infection at the surgical site and sensitivity to the device material. Furthermore, failure to deliver therapy when needed or receiving extra therapy when not necessary is another factor adversely affecting growth of the market. Active implantable medical devices fall into highest risk category of medical device listing of the U.S. FDA and are subjected to strict scrutiny highly focused on security and privacy which has resulted in various product recalls. For instance, recall of about 500,000 pacemakers manufactured by St. Jude Medical, Inc. in August 2017, due to hacking concerns. Such events could hamper the growth of active implantable medical devices market over the forecast period.

Some major players operating in the active implantable medical devices market are Cochlear Limited, Boston Scientific Corporation, Medtronic Plc, LivaNova Plc, Abbott Laboratories, Sonova Holding AG, William Demant holding A/S, Nurotron Biotechnology Co., Ltd., and Med-EL.

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