Active Implantable Medical Devices Market Competitive And Growth Analysis 2024 | Medtronic PLC, Boston Scientific Corporation, Cochlear Limited, Abbott Laboratories

"The active implantable medical devices market size has grown strongly in recent years. It will grow from $24.8 billion in 2023 to $26.89 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to strong economic growth in emerging markets, increased healthcare expenditure, increased prevalence of cardiovascular diseases, and growth in the number of healthcare facilities..

The active implantable medical devices market size is expected to see strong growth in the next few years. It will grow to $37.2 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to the elderly population, government support, and increasing burden of neurological diseases. Major trends in the forecast period include launching new active implantable medical devices, partnerships and collaborations, integration of wireless technologies for implantable medical device charging, and integration of artificial intelligence (ai) to improve their product offerings and to stay competitive in the market..

Market Overview -
An active implantable medical device (AIMD) is a medical device that is completely or partially implanted into the human body for diagnostic or therapeutic reasons. Active implantable medical devices are designed to remain in place.

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Cardiovascular Disease Surge Spurs Growth In Active Implantable Medical Devices Market
An increasing number of cardiovascular diseases is expected to propel the growth of the active implantable medical devices market going forward. Cardiovascular disease (CVD) refers to any condition that affects the heart or blood vessels. It is generally associated with the formation of fatty deposits inside the arteries (atherosclerosis) and an increased risk of blood clots. Active implantable medical devices are used to regulate or monitor irregular heartbeats in people who have specific heart rhythm problems or heart failure. The rise in the geriatric population has favored the demand for active implantable medical devices. For instance, in August 2022 according to a report published by the American College of Cardiology, a US-based non-profit medical association, cardiovascular risk factors are expected to increase from 2025 to 2060, with the highest proportional increase in diabetes (a 39.3% increase to 55 million), followed by dyslipidemia (a 27.6% increase to 126 million), hypertension (a 25.1% increase to 162 million), and obesity (18.3% to 126 million). The researchers have found that stroke (33.8% to 15 million) and heart failure (33.4% to 13 million) had the biggest expected increases in cardiovascular disease rates, followed by ischemic heart disease (30.7% to 29 million) and heart attack (16.9% to 16 million). Therefore, the increase in cardiovascular diseases is driving the growth of the active implantable medical devices market.

Competitive Landscape -
Major companies operating in the active implantable medical devices market report are Medtronic PLC, Boston Scientific Corporation, Cochlear Limited, Abbott Laboratories, Sonova Holding AG,MED-EL Medical Electronics, Livanova PLC, Biotronik Se & Co., Kg, MicroPort Scientific Corporation, Envoy Medical Corporation, Pregna International, Johari Digital Healthcare Limited, Renalyx Health Systems, Medprime Technologies, Comofi Medtech, Dynamed Equipments, Aurolab, Unicorn Denmart Limited, Lepu Medical Technology Company, Calon Cardio, Better Medical Technology, Beijing Aeonmed Co., Ltd, BONSS MEDICAL, Koninklijke Philips N.V., Berlin Heals Holding AG, CorWave SA, Philips Healthcare, Draegerwerk AG, Getinge Group, Ceryx Medical, MEDICO s.r.l., Medical-Lomza Sp. z o.o., Panop CZ, Medplant LLC, P.H.U. Medical, ProVeterináre, Johnson & Johnson, Baxter, Stryker, Axio Biosolutions, Cirtec Medical, Masimo, Teleflex Inc, NAGL MedTech, B Braun Argentina, Braile Biomedica Ltd, Megadyne Argentina, Embramed Industria e Comercio de Produtos Hospitalares Ltd, Arabian Medical Enterprises LLC, Zahrawi Group, Al Burak Medical Services, Lodox Systems, Glenmed Healthcare Solutions (PTY) Ltd, Lepeke Medical Group, LTE Medical Solutions

Paving The Way For Growth In The Active Implantable Medical Devices Market
Product innovations have emerged as a key trend gaining popularity in the active implantable medical devices market. Major companies operating in the market are developing innovative products to sustain their position in the market. For instance, in June 2021, the researchers of Northwestern and George Washington University, a US-based nationally chartered private research university developed the first transitory pacemaker - a wireless, battery-free, totally implanted pacing device that vanishes when no longer required. The thin, flexible, and lightweight device can be utilized in patients who require temporary pacing following cardiac surgery or while awaiting a permanent pacemaker. All pacemaker components are biocompatible and will spontaneously dissolve into the body's biofluids over the course of five to seven weeks without the need for surgical extraction. Using near-field communication protocols, the device wirelessly gathers energy from an external, remote antenna. This eliminates the need for heavy batteries as well as stiff hardware such as wires (or leads).

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Key Segments -
The active implantable medical devices market covered in this report is segmented -
1) By Product Type: Cardiac Pacemakers, Implantable Cardioverter Defibrillators (ICD), Nerve Simulators, Cochlear Implants, Ventricular Assist Devices, Other Products
2) By Application: Cardiovascular, Neurological, Hearing Impairment, Other Applications
3) By End User: Hospitals, Specialty Clinics, Ambulatory Surgical Centers

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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