Active Implantable Medical Devices Market Know Marketing Growth in Future Trend, Opportunities and Risks Analysis by 2023 With Key Player Boston Scientific, BIOTRONIK, LivaNova, William Demant, Sonova Group

Active Implantable Medical Devices market is projected to reach $28,878.6 million by 2023, growing at a CAGR of 8.0% during 2017 - 2023.

According to the study, the global active implantable medical devices market is likely to grow from $17.0 billion in 2016 to $28.9 billion by 2023. Technological advancements, increasing prevalence of cardiovascular diseases, rising healthcare expenditures and increasing research and development activities have been driving the growth of the global active implantable medical devices market. The market is further expected to gain revenue due to increasing geriatric population and incidence of neurological disorders. Development of subcutaneous implantable cardioverter defibrillators along with the increasing demand from developing nations is expected to create ample growth opportunities in the global active implantable medical devices market.

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As per the findings of research, implantable cardioverter defibrillators held the largest share in the global active implantable medical devices market in 2016, primarily due to the development of technologically advanced devices and increasing prevalence of cardiovascular diseases. The neurostimulators market is expected to witness the highest growth during the forecast period. This growth of neurostimulators is attributed to the increasing incidence of neurological disorders and increasing demand from emerging economies. Among different type of implantable cardioverter defibrillators, transevenous implantable cardioverter defibrillators held larger share in the global active implantable medical devices market in 2016, and it is also expected to witness higher growth during the forecast period. Increasing research and development activities and rising compliance for technological innovations and data driven customizations are driving the growth of the global transvenous implantable cardioverter market.

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Geographically, North America has been the largest market for active implantable medical devices, with the U.S. being the larger contributor to the regional market as compared to Canada. The key factor driving the North American active implantable medical devices market are technological advancements, high healthcare expenditure, growing geriatric population, improved healthcare infrastructure and growing prevalence of cardiovascular diseases. The emerging economies in Asia-Pacific, especially China and India, are expected to grow tremendously in future, which is expected to bring the Asia-Pacific market approximately equal to the European market by 2023. Asia-Pacific presents several growth opportunities for the active implantable medical devices manufacturers due to the rapid expansion of healthcare industry in the region.

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Neurostimulation technology involves the usage of microelectrodes to activate nerves in the nervous system. A neurostimulation device is powered by battery and is a stopwatch sized device. It is surgically implanted in the brain and helps in generating paresthesia, a tingling sensation at the scheduled time intervals to the nervous system. These electric signals develop a sensation in the damaged nerves and help in treating chronic pain and neurological disorders. In case of chronic pain conditions, these electrical signals help in blocking the pain messages from nerves to reach brain. These devices are generally used in cases, where drug therapies are not effective. Increasing incidents of neurological disorders and the rising demand for minimally invasive procedures are leading to the increased demand for neurostimulators. The rapid penetration of neurostimulators market in the emerging economies is expected to have significant impact on the growth of the global active implantable medical devices market.

Some of the other key players in the market include Boston Scientific Corporation, BIOTRONIK SE & Co. KG, LivaNova PLC, William Demant Holding A/S, Nurotron Biotechnology Co. Ltd., Sonova Holding AG, and MED-EL.

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