The size of the global active implantable medical devices market is growing at a 7.76% CAGR from 2019 to 2024. The market was worth USD 23.1 Billion in 2019 and will reach USD 33.6 billion by 2024. Factors such as the growing incidence of cardiovascular diseases and rising support to technological developments are primarily driving the market growth.
Growing ageing population is another crucial aspect of driving demand to the active implantable medical devices.
The growing elderly population is one of the critical elements of the global active implantable medical devices market growth. The people over the age of 65 is supposed to increase from 524 million in 2010 to about 1.5 billion in 2050. By 2050, the global age-group over 80 will have 379 million, expected to be 5.5 times the 65 million in 2000. Age is associated with a gradual decline in functional reserve in multiple organ systems, including the heart, brain, and ears. It is not surprising that elderly patients use imbalanced medical resources, as about 92% of the elderly have at least one chronic illness, and 77% of the elderly have at least two chronic diseases.
Industry Growth Drivers
The Global Active Implantable Medical Devices Market in which the issues related to the use of such devices, such as those related to device failure and network security, may hinder market growth soon. The high cost and adverse compensation policies of implantable medical devices are vital challenges and limit the adoption of active implantable medical device solutions in the global business.
Market Size Available
2018 – 2024
2019 – 2024
By Product and Region
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
This research report on the global active implantable medical devices market has been segmented and sub-segmented based on the product and region.
Active Implantable Medical Devices Market– By Product
Based on the product, the Cardioverter defibrillators segment held the largest share in 2019. It is due to the increase in the prevalence of cardiovascular diseases and high compliance for technologically advanced products.
Another segment which is playing a pivotal role in the growth in the global active implantable medical devices market is transvenous implantable cardioverter defibrillators. Over the sub-segments of this type, the single-chamber implantable cardioverter defibrillators are dominating followed by subcutaneous implantable cardioverter defibrillators.
The neurostimulators market to witness the highest growth rate during the forecast period. The demand for neurostimulators, especially deep brain stimulators, is growing significantly across the globe. An increase in the prevalence of chronic pain, such as neuropathic pain, pain due to diabetes, arthritis, anxiety and suffering from an injury has increased the demand for neurostimulators significantly.
North America held the largest share in the regional segment of the global active implantable medical devices market. The United States to showcase promising growth in the coming years. Rising healthcare spending and high geriatric population and technological advancements in this region are driving the growth scope to the market.
The European market is next to North America is leading the majority of the shares in the market. However, the market in the Asia-Pacific region to grow at the highest CAGR.
Key market participants in the Global Active Implantable Medical Devices Market profiled in this report are:
Major happenings in the global active implantable medical devices in the recent past:
In May 2019, Medtronic plc developed the Attain Stability Quad MRI SureScan for active fixation of left heart lead which has been paired with pacemakers and defibrillators that are associated with Medtronic’s quadripolar cardiac resynchronization therapy. The device is to attain stability and precision in lead placement, and the product has been approved by the FDA (Food and drug administration in the U.S).
In Aug 2019, Boston scientific corporation completed the acquisition of BTG Plc; a company that is offering a variety of products in streams of speciality pharmaceuticals, cardiovascular and cancer treatment procedures. The strategic collaboration will enable the Boston Scientific Corporation to provide advanced technologies and improve the infrastructure to support professionals treating severe diseases across the world.
In Dec 2019, Impulse Dynamics Company developed a device called the Optimizer smart system, which applies to CCM therapy. The FDA has approved the product for treating cardiac dysfunctions in the patients. The company has been funded by crucial investors such as Amzek Health Investors, Minth Holdings ltd, Acom biosciences, and others.
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.2 Implantable Cardioverter Defibrillators
18.104.22.168 Transvenous Implantable Cardioverter Defibrillators
22.214.171.124.1 Biventricular Implantable Cardioverter Defibrillators (ICDs)/Cardiac Resynchronization Therapy Defibrillators (CRT-Ds)
126.96.36.199.2 Dual-Chamber Implantable Cardioverter Defibrillators
188.8.131.52.3 Single-Chamber Implantable Cardioverter Defibrillators
184.108.40.206 Subcutaneous Implantable Cardioverter Defibrillator
5.1.3 Implantable Cardiac Pacemakers
5.1.4 Ventricular Assist Devices
5.1.5 Implantable Heart Monitors/Insertable Loop Recorders
220.127.116.11 Spinal Cord Stimulators
18.104.22.168 Deep Brain Stimulators
22.214.171.124 Sacral Nerve Stimulators
126.96.36.199 Vagus Nerve Stimulators
188.8.131.52 Gastric Electrical Stimulators
5.1.7 Implantable Hearing Devices
184.108.40.206 Active Hearing Implants
220.127.116.11 Passive Hearing Implants
5.1.5 Y-o-Y Growth Analysis, By Product
5.1.6 Market Attractiveness Analysis, By Product
5.1.7 Market Share Analysis, By Product
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
18.104.22.168 By Geographical Area
22.214.171.124 By Product
6.1.4 Market Attractiveness Analysis
126.96.36.199 By Geographical Area
188.8.131.52 By Product
6.1.5 Market Share Analysis
184.108.40.206 By Geographical Area
220.127.116.11 By Product
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1 Medtronic plc
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Abbott Laboratories
8.3 Boston Scientific Corporation
8.4 BIOTRONIK SE & Co. KG
8.5 LivaNova PLC.
8.6 Cochlear Limited
8.8 Sonova Holding AG
8.9 William Demant Holding A/S
8.10 Nurotron Biotechnology Co. Ltd.
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures