Posted on Leave a comment

Active Implantable Devices Market Expected to Witness Massive Growth with a Significant CAGR of 7.63%, asserts DelveInsight

Active Implantable Devices Market Expected to Witness Massive Growth with a Significant CAGR of 7.63%, asserts DelveInsight

The global active implantable medical devices market was valued at USD 26.78 billion in 2021, growing at a CAGR of 7.63% during the forecast period from 2022 to 2027, to reach USD 41.47 billion by 2027.

The rise in demand for active implantable medical devices is primarily attributed to the growing burden of various diseases such as neurological disorders, cardiovascular disorders, hearing disability, and others among the worldwide population due to the growing old age population. In addition, a rise in product approvals, and an increase in investment and funds by the companies for the development of active implantable devices, among others are also the factors responsible for the global active implantable medical devices market growth during the forecasted period.

Some of the key market players operating in the Active Implantable Devices market include Medtronic (NYSE: MDT), ABIOMED (NASDAQ: ABMD), Abbott (NYSE: ABT), Jarvik Heart, Inc., Biotronik SE & Co. KG, Boston Scientific Corporation (NYSE: BSX), LivaNova, Inc. (NASDAQ: LIVN), MicroTransponder Inc., Axonics Modulation Technologies, Inc. (NASDAQ: AXNX), MED-EL Medical Electronics, Second Sight (NASDAQ: EYES), NeuroPace, Inc. (NASDAQ: NPCE), NEVRO CORP. (NYSE: NVRO), Pacetronix.com, MEDICO S.p.A., Aleva Neurotherapeutics S.A., Cochlear Ltd. (ASX: COH), Sonova, Berlin Heart GmbH, and SynCardia Systems LLC, among others.

DelveInsight’s “Active Implantable Devices Market Insight & Forecast” report will offer an in-depth understanding of the Active Implantable Devices market, further benefiting the competitors or stakeholders operating in the Active Implantable Devices arena.

Active Implantable Devices

An active implantable medical device (AIMD) is a medical device intended to be totally or partially introduced into the human body for diagnostic or therapeutic purposes and is to remain in place. It includes a wide range of devices, including pacemakers, defibrillators, infusion pumps, ventricular assist systems and devices, cochlear implants, and neurostimulators.

Interested to know more about the functioning of Active Implantable Devices- Visit @ Active Implantable Devices Operations & Working.

Active Implantable Devices Market Insights

Among all the regions, North America is expected to occupy a major share in the overall active implantable medical devices market during the forthcoming years. This domination is due to the surge in cases of various heart-associated disorders, rise in neurodegenerative disorders, increase in population with chronic pain, increasing hearing disability, and others. Additionally, favourable reimbursement scenarios and a well-established healthcare system are also the factors that are driving the Active Implantable market growth.

In the US, the high obesity rates among the population are also a factor that will lead to the demand for active implantable devices. This is because obesity is associated with an increased risk of developing cardiovascular disease (CVD), particularly coronary heart disease (CHD) and heart failure (HF). According to the Centers for Disease Control and Prevention (CDC) 2021 data, the obesity prevalence was 42.4% in 2017 – 2018 in the US. High obesity among the population increases the chances of developing obesity-related conditions include heart disease, stroke, among others.

In addition, as per the statistics published by the CDC in the year 2021, every year, about 805,000 people in the United States have a heart attack.

Thus, rising obesity and cardiovascular disorder in the region could fuel the market for active implantable medical devices in the region.

Furthermore, the rising neurological disorder in the region will also contribute to the active implantable medical devices in the region. According to the Parkinson’s Foundation 2021 data, Nearly 1 million people in the US are living with Parkinson’s disease (PD), which is expected to rise to 1.2 million by 2030. In addition, product approval of active implantable medical devices in the region to treat Parkinson’s Disease is also likely to augment the market. For instance, recently in January 2020, Abbott received approval FDA for a new, expanded indication for the company’s Infinity™ Deep Brain Stimulation (DBS) system to include the targeting of an area of the brain called the internal globus pallidus (GPi) to improve the symptoms of Parkinson’s disease.

Also, strategic business activities by the key manufacturers present in the region to maintain their position in the region boost the market for active implantable devices. Recently, in the year 2020, Medtronic acquired Stimgenics, pioneer of a novel spinal cord stimulation (SCS) waveform known as Differential Target Multiplexed (DTM) Spinal Cord Stimulation.

Hence, all the above-stated factors are likely to boost the market for active implantable medical devices in the region.

Further, the Asia-Pacific region has the future potential growth for the global active implantable medical devices market. This is due to the rising number of old age population along with the high rate of various age-related disorders. According to the Organisation for Economic Cooperation and Development (OECD) 2019 stats, the share of the population aged 65 years and over is expected to increase by nearly two and half times in lower-middle and low-income Asia-Pacific countries in the next decades to reach 14.1% for females and 11% for males in 2050. Also, according to the Australian Government 2021 data, around 3.6 million people suffer from hearing loss in Australia. Thus, the rising hearing loss raises the demand for hearing implants, a type of active implantable medical device. Moreover, rising government initiatives to raise awareness regarding the disorders along with their management will also spur the market for active implantable medical devices. In addition, rising disposable income, improving healthcare infrastructure are also the factors propelling the active implantable medical devices market in the region during the forthcoming years.

To read more about why North America is leading the market growth in the Active Implantable Devices market, get a snapshot of the Active Implantable Devices market report.

Active Implantable Devices Market Dynamics

The demand for various active implantable devices is gaining momentum at present owing to the rising prevalence of disorders majorly associated with heart and brain among the old age population across the globe. According to the United Nations Department of Economic and Social affairs 2020 highlights, worldwide, there were an estimated 727 million persons aged 65 years and over in the year 2020 which is projected to double and reach over 1.5 billion persons by the year 2050. The senescing population is more likely to develop various chronic disorders. For instance, as per the statistics revealed by the World Health Organization (WHO) in the year 2021, above 5% of the world’s population which is approximately 430 million people are suffering from hearing disability, and the prevalence of hearing loss increases with age affecting over 25% population older than 60 years are affected by disabling hearing loss.

Moreover, due to the aging population, the risk of developing cardiovascular disorder increases manifolds which leads to increasing demand for active implantable devices. For instance, according to the World Heart Federation 2021, the global prevalence of heart failure is estimated to be 26 million.

In addition, the rise in investment and funds by the companies focused on developing active implantable medical devices is also a factor that will contribute to the active implantable devices market growth. For instance, in September 2020, Salvia BioElectronics raised EUR 26M (USD 31M) to develop innovative neurostimulation therapy for chronic migraine from new and existing investors.

Also, shifting the focus of manufacturers towards developing technologically advanced active implantable medical devices is one of the key factors contributing to the global market growth of the devices. For instance, recently on January 22, 2021, Boston Scientific Corporation received FDA approval of its fourth-generation Vercise Genus™ Deep Brain Stimulation (DBS) System which is approved for conditional use in a magnetic resonance imaging (MRI) environment and also consists of a family of Bluetooth-enabled, rechargeable and non-rechargeable, implantable pulse generators (IPGs) that power Cartesia™ Directional Leads to provide optimal symptom relief.

Also, the company on June 29, 2020, received FDA clearance for its LUX-Dx™ Insertable Cardiac Monitor System integrated with remote programming paired with a dual-stage arrhythmia detection algorithm.

Hence, all the above-mentioned factors are anticipated to bolster the active implantable medical devices market during the forecasted period.

Covid 19 Impact Analysis

The unprecedented COVID-19 outbreak has impacted the global active implantable medical devices market during the initial phases. This is owing to the nationwide lockdown, cancelled or postponed surgeries, and patient reluctance to visit the hospitals, among others. However, due to the launch of various vaccines and mass vaccination drives across the globe the market for active implantable devices is expected to regain normalcy in the post-COVID situation.

The high cost of the devices along with the stringent regulatory approval process of the devices are some of the factors which might impede the global active implantable medical devices market.

To discuss the short/long-term impact of COVID-19, get a snapshot of the report Active Implantable Devices market assessment.

Recent Breakthroughs in Active Implantable Devices Market:

  • In August 2021, MicroTransponder secured approval from the US FDA for its Vivistim Paired VNS System, a drug-free stroke rehabilitation system to treat moderate to severe upper extremity motor deficits associated with chronic ischemic stroke.
  • In January 2021, Boston Scientific launched WaveWriter Alpha™ Spinal Cord Stimulator Systems in the US to relieve chronic pain.
  • In February 2020, Abbott received CE Mark for the new Gallant™ implantable cardioverter-defibrillator (ICD) and cardiac resynchronization therapy defibrillator (CRT-D) devices. The devices offer new opportunities for patient engagement and remote monitoring through new smartphone connectivity and connected applications. Additional benefits include a patient preferred design, improved battery longevity, and MRI compatibility.

Key Players Proactively Working In the Active Implantable Devices Market

Key Active Implantable Devices companies involved in manufacturing and production are making significant growth in the advancement of these devices. To boost their market position, they also engage in mergers and acquisitions. Some of the key Active Implantable Devices companies operating actively in the Active Implantable Devices market include Medtronic, ABIOMED., Abbott, Jarvik Heart, Inc., Biotronik SE & Co. KG, Boston Scientific Corporation, LivaNova, Inc., MicroTransponder Inc., Axonics Modulation Technologies, Inc., MED-EL Medical Electronics, Second Sight, NeuroPace, Inc., NEVRO CORP., Pacetronix.com, MEDICO S.p.A., Aleva Neurotherapeutics S.A., Cochlear Ltd., Sonova, Berlin Heart GmbH, and SynCardia Systems LLC, among others.

Scope of the Active Implantable Devices Market Report:

  • Geography Covered: Global
  • Study Period: 2022-2027
  • Key Urinary Tract Obstruction Treatment Devices Companies: Medtronic, ABIOMED., Abbott, Jarvik Heart, Inc., Biotronik SE & Co. KG, Boston Scientific Corporation, LivaNova, Inc., MicroTransponder Inc., Axonics Modulation Technologies, Inc., MED-EL Medical Electronics, Second Sight, NeuroPace, Inc., NEVRO CORP., Pacetronix.com, MEDICO S.p.A., Aleva Neurotherapeutics S.A., Cochlear Ltd., Sonova, Berlin Heart GmbH, and SynCardia Systems LLC, among others.
  • Market Segmentation by Product Type: Implantable Cardiovascular Devices [Cardioverter Defibrillators, Ventricular Assist Devices, Implantable Pacemakers, Implantable Cardiac Monitors/Insertable Loop Recorders], Implantable Neurostimulators [Deep Brain Stimulators, Spinal Cord Stimulators, Sacral Nerve Stimulators, Others] Hearing Implants, Others
  • Market Segmentation By End-User: Hospitals, Ambulatory Surgical Centres, And Others
  • Market Segmentation by Geography: North America, Europe, Asia-Pacific, Rest of the World (Middle East, Africa, and South America)
  • Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s View

Table of Contents 

1

Report Introduction

2

Executive Summary

3

Regulatory and Patent Analysis

4

Key Factors Analysis

5

Active Implantable Devices Porter’s Five Forces Analysis

6

COVID-19 Impact Analysis on Active Implantable Devices Market

7

Active Implantable Devices Market Layout

8

Active Implantable Devices Global Company Share Analysis – Key 3-5 Companies

9

Active Implantable Devices Companies and Product Profiles

10

Project Approach

11

KOL Views

12

DelveInsight Capabilities

13

Disclaimer

To understand key companies related to the Active Implantable Devices Market, get a snapshot of the Active Implantable Devices Regulatory and Patent Analysis.

Media Contact
Company Name: DelveInsight Business Research LLP
Contact Person: Kritika Rehani
Email: Send Email
Phone: 9193216187
Address:304 S. Jones Blvd #2432
City: Las Vegas
State: Nevada
Country: United States
Website: https://www.delveinsight.com/