Active Implantable Medical Devices Market Expected to Grow at + CAGR of 7.9% Up to 2025 : With Company Like Medtronic, Abbott, Boston Scientific Corporation, BIOTRONIK, LivaNova, Cochlear, MED-EL, Sonova,

Active Implantable Medical Devices Market is anticipated to grow in the forecast to 2025, owing to the factors such growing incidences of the respiratory disorders, technological advancements in drug developments, and availability of low cost drugs influences the growth of the market during the forecast period. However, the side effects associated with the drugs may hamper the growth of the market during the forecast period.

According to a new market research study titled ‘Active Implantable Medical Devices Market to 2025 – Global Analysis and Forecasts by Product and End User, the global active implantable medical devices market was valued at US$ 22,096.9 Mn in 2017 and is estimated to reach US$ 39,026.9 Mn by 2025. The market is estimated to grow with a CAGR of 7.9% from 2018-2025. The report highlights the trends prevalent in the global active implantable medical devices market and the factors driving the market along with those that act as deterrents to its growth.

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Europe is was the second largest geographic market and it is expected to be the second highest revenue contributor throughout the forecast period. Europe market is driven by the factors such as frequent product launches and increasing awareness among the population in the region. Additionally, rising chronic conditions and increasing government initiatives for healthcare are some major factors have that influence the European active implantable medical devices market.

The increasing prevalence of cardiovascular diseases, neurological disorders & hearing disorders, increasing technological advancements & new product launches and large pool of geriatric population are the major factors that anticipated to propel the growth for the active implantable medical devices market in the forecast period. However, the high cost of products and procedures and high rate of product recalls is expected to act as major challenges hindering the market growth at certain extent.

Some OF Major Key Companies Operate In Active Implantable Medical Devices Industry:

• Medtronic
• Abbott
• Boston Scientific Corporation
• BIOTRONIK
• LivaNova PLC
• Cochlear Ltd.
• MED-EL, Sonova
• William Demant Holding A/S
• Nurotron Biotechnology Co., Ltd

The market players are focused towards bringing new and innovative product launches to sustain their position in the market. For instance, in July, 2017, Cochlear launched its iPhone cochlear implant sound processor. Additionally, in September 2017, Cochlear launched the Baha SoundArc which is the non-surgical bone conduction device.

The high market growth is anticipated on account of the rising global geriatric population. The risk of cardiovascular diseases increases with increase in age, in both male and females. Increasing age makes the blood vessels less flexible and reduction in blood flow. Thus, the risk of heart disease is high in elder population. According to the Heart Disease and Stroke Statistics 2018, average age at the first heart attack is 65.6 years for males and 72.0 years for females. It also mentioned that annual incidence of heart attack in the US is 720,000 new attacks and 335,000 recurrent attacks. Similarly, rising prevalence of the neurological disorders in the geriatric population is expected to serve as a high impact rendering driver for the active implantable medical devices market over the forecast period.

According to the Alzheimer's Association, in 2018, 5.7 million Americans suffer from Alzheimer's dementia of which 5.5 million are people with age 65 and older. Furthermore, the United Nations in 2017, estimated 962 million people are aged 60 or over across the globe and is increasing by 3% every year. It also stated that the elder population with 60 and more age worldwide is projected to be 1.4 billion in 2030 and 2.1 billion in 2050, and could rise to 3.1 billion in 2100. Hence, the increasing global geriatric population is likely to boost the market growth during the forecast period.

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Strategic Insights:-

Approvals and agreements were observed as the most adopted strategy in global active implantable medical devices industry. Few of the recent product launch and collaboration and others are listed below;

2018: In August, 2018, Abbott received FDA approval for software upgrade for its Infinity implants used to treat Parkinson’s and essential tremor full-body MRI compatibility.

2017: In November, 2017, Medtronic received CE (Conformité Européenne) Mark for the world's smallest fully implantable spinal cord stimulator. The neurostimulator is placed under patient’s skin in order to deliver mild electrical impulses through a lead implanted in the epidural space, which act to block pain signals from going to the brain.

2016: In November 2016, BIOTRONIK today announced the launch of Inventra HF-T, implantable cardioverter defibrillator (ICD) that delivers an ultra-high energy with 42 joules (J) on the first shock. Thus providing technologically advanced products that improve patient lives.

The report segments the global active implantable medical devices market as follows:

Global Active Implantable Medical Devices Market – By Product
• Implantable Cardioverter Defibrillators
• Transvenous Implantable Cardioverter Defibrillators
• Subcutaneous Implantable Cardioverter Defibrillators
• Implantable Cardiac Pacemakers
• Ventricular Assist Devices
• Implantable Heart Monitors/Insertable Loop Recorders
• Neurostimulators
• Implantable Hearing Devices

Global Active Implantable Medical Devices Market – By End User
• Hospitals
• Ambulatory Surgery Centers
• Specialty Clinics

Global Active Implantable Medical Devices Market – By Geography
• North America
• Europe
• Asia Pacific (APAC)
• Middle East & Africa (MEA)
• South and Central America (SCAM)

Global Active Implantable Medical Devices Market –Insights

Technological Advancements and New Product Launches:-

The active implantable medical devices is an emerging field in the medical industry and has led to various developments of the products, in the field of cardiology, neurology and otology. Many of the market players are developing novel products in order to minimize the burden of cardiovascular diseases, neurological disorders and hearing disorders. For instance, Boston Scientific Corporation in September 2017, launched the Resonate family of Implantable Cardioverter Defibrillator (ICD) and cardiac resynchronization therapy defibrillator (CRT-D) systems. This product is powered by EnduraLife battery technology, which has double battery capacity as compared to other devices. Thus increasing the longevity of devices and managing heart failure more efficiently.

Increasing Burden of Cardiovascular Diseases, Neurological Disorders and Hearing Disorders:-

Active implantable devices like pacemakers, cochlear implants, ventricular assist devices, spinal cord stimulators and others are used to treat cardiovascular diseases, neurological disorders and hearing disorders. Thus the increasing prevalence of cardiovascular diseases, neurological disorders and hearing disorders is expected to drive market growth during the forecast period. According to the World health organization in 2017, cardiovascular diseases are number 1 cause of death all over the world. It also mentioned that in 2016, 17.9 million people across the globe died due to cardiovascular diseases.

Product Insights:-

The global active implantable medical devices market by product was led by implantable cardioverter defibrillators. In 2017, the implantable cardioverter defibrillators held a largest market share of 30.9% of the active implantable medical devices market, by product. The implantable cardioverter defibrillators segment is expected to dominate the market in 2025 owing to the rising prevalence of arrhythmia, enhances the growth of implantable cardioverter defibrillators. Atrial fibrillation (AF) is the most common type arrhythmia observed among the population, which may further lead to stroke, heart failure and other heart-related complications. This segment is anticipated to witness the fastest growth rate during the forecast period, 2018 to 2025.

End User Insights:-

The active implantable medical devices market by end user is segmented into hospitals, ambulatory surgery centers and specialty clinics. The hospitals segment is anticipated to grow at a CAGR of 8.1% during the forecast period. The increasing adoption of new technology devices in the hospitals and rising hospital research drives the market growth.

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