Active Implantable Medical Devices Market Drivers, Market Challenges, Market Trends, and Five forces analysis

The global active implantable medical device market is expected to reach $28,878.6 million by 2023 with a CAGR of 8.0% during the forecast period (2017–2023). The factors driving the growth of the market are the increasing aging population, research and development (R&D) investments, and prevalence of cardiovascular diseases and neurological disorders, and the advent of technologically advanced devices. Any active medical device introduced partially or totally in the human body into a natural orifice, which is intended to remain inside after the procedure, is referred to as an active implantable medical device.

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Geographically, the active implantable medical device market was dominated by North America during the historical period, and it is projected to retain its position during the forecast period, mainly due to the rising prevalence of cardiovascular diseases and neurological disorders. The American Heart Association stated that 92.1 million American adults are living with some form of cardiovascular disease or after-effects of stroke. The Asia-Pacific (APAC) region is expected to be the fastest growing market during the forecast period due to the increasing aging population in countries such as India and China.

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Due to the increasing demand for more-effective implantable medical devices, R&D investments for their development is also surging, which is furthering the growth of the active implantable medical device market. The devices which are currently available require surgical implantation and replacement every few years. Technologically advanced implantable devices, on the other hand, require non-invasive procedures for safe and effective implantation, which is leading to their increasing demand. These factors are influencing medical device manufacturing companies to invest in R&D.

Thus, the increasing R&D investments, adoption of miniaturized implantable medical devices, and technological advancements in the field are leading to the growth of the market.

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