The global active implantable medical devices market size is expected to be growing at a 7.76% CAGR from 2020 to 2025. The market was worth USD 23.1 Billion in 2020 and will reach USD 33.6 billion by 2025.
Factors such as the growing incidence of cardiovascular diseases, growing aging population, and rising support to technological developments are primarily driving the global active implantable medical devices market growth.
The growing elderly population is one of the critical elements of globally 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.
Additionally, the emergence of innovative implantable products with enhanced performance and effortless operative procedures is expected to support the growth rate of the market during the forecast period. Favorable government policies are likely to offer several opportunities to the new and well-established manufacturers in the market. The rising prevalence of cardiovascular diseases and increasing demand for active implantable devices, especially in developing countries, is another promising factor in helping the market reach new heights in growth. An increasing number of medical research activities to create advanced and ergonomically enhanced technologies due to an expanding number in a variety of diseases are offering lucrative growth opportunities and pushing the limits of the global active implantable medical devices market across the world.
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 market.
Market Size Available
2019 to 2025
2020 to 2025
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 that plays 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 significantly increased the demand for neurostimulators.
Active Implantable Medical Devices Market – By Region:
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 the high geriatric population, and technological advancements in this region drive 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.
NOTABLE COMPANIES IN THE MARKET
Key market participants in the Global Active Implantable Medical Devices Market profiled in this report are Medtronic PLC, Abbott Laboratories, Boston Scientific Corporation, BIOTRONIK SE & Co. KG, LivaNova, Cochlear Limited, MED-EL, Sonova Holding AG, William Demant Holding A/S, and Nurotron Biotechnology Co. Ltd.
RECENT HAPPENINGS IN THIS MARKET
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
188.8.131.52 Transvenous Implantable Cardioverter Defibrillators
184.108.40.206.1 Biventricular Implantable Cardioverter Defibrillators (ICDs)/Cardiac Resynchronization Therapy Defibrillators (CRT-Ds)
220.127.116.11.2 Dual-Chamber Implantable Cardioverter Defibrillators
18.104.22.168.3 Single-Chamber Implantable Cardioverter Defibrillators
22.214.171.124 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
126.96.36.199 Spinal Cord Stimulators
188.8.131.52 Deep Brain Stimulators
184.108.40.206 Sacral Nerve Stimulators
220.127.116.11 Vagus Nerve Stimulators
18.104.22.168 Gastric Electrical Stimulators
5.1.7 Implantable Hearing Devices
22.214.171.124 Active Hearing Implants
126.96.36.199 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
188.8.131.52 By Geographical Area
184.108.40.206 By Product
6.1.4 Market Attractiveness Analysis
220.127.116.11 By Geographical Area
18.104.22.168 By Product
6.1.5 Market Share Analysis
22.214.171.124 By Geographical Area
126.96.36.199 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