Pune, India -- (SBWire) -- 05/10/2019 --The latest report on Active Implantable Medical Devices Market by Infinium Global Research gives complete coverage of the active implantable medical devices market by product types (cardiac pacemakers, defibrillators, neuro stimulator systems, cochlear implants, haemodynamic support, glucose monitors, insertable cardiac monitor, ventricular assist devices, implantable infusion pumps, accessories) in terms of key trends, market size, forecast. In addition, the study covers deep dive into key product and applications trends in the regional markets of active implantable medical devices such as North America, Europe, Asia-Pacific and Latin America over the short run and long run. According to the report, the global active implantable medical devices market is projected to grow at a CAGR of 4.6% over the forecast period of 2018-2024.
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Active Implantable Medical Devices Market: Insight
The active implantable medical device is a powered device that inserted into a patient body either through a natural orifice or by surgical means. These devices are helping to control body functions and support damaged biological structures or improve an existing biological structure. Implantable cardiac pacemakers, implantable defibrillators, cochlear implants, implantable hearing aids, implantable glucose monitors and ventricular assist devices (VAD) are some the active implantable medical devices. These devices play a major role in the management of a number of diseases such as cardiovascular, neurological, and patients with hearing or visual deficiency.
Active Implantable Medical Devices Market: Drivers and Restraints
Cardiovascular disease is the leading cause of death around the world. The growing prevalence of the neurological disorder, hearing disorder and cardiovascular diseases across the globe are expected to drive the demand for active implantable medical devices. According to the American Heart Association, 4,600,000 people have congestive heart failure, and 550,000 new cases of congestive heart failure are diagnosed each year. Cardiac pacemakers are medical devices that are used for the treatment of congestive heart failure. Moreover, innovations and advancements in the implantable medical devices contribute to the growth of an active implantable medical device market. In addition, favorable reimbursement policies by a government are anticipated to fuel the market in the coming years However, different regulatory frameworks for implantable medical devices across various countries are expected to slump the market growth. Furthermore, stringent regulatory policies regarding the AIMS along with the high cost of implants have a negative impact on the growth of active implantable medical devices market. Nevertheless, rising government funding in the research and development activity coupled with growing healthcare infrastructure in the emerging market provides the growth opportunities for the active implantable medical devices market in the forecast period.
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Active Implantable Medical Devices Market: Regional Analysis
Among the region, North America dominated the active implantable medical devices market owing to the technological advancement in developing novel active implanted device. Moreover, high accessibility to advanced technologies, highly developed infrastructures, the increasing prevalence of cardiovascular and neurological disorder and growth in geriatric populations are some factors responsible for the growth of active implantable medical devices market in the region. The Asia Pacific is expected to witness the fastest growth in the market. The factors such as growing incidences of chronic disease, increasing healthcare expenditure, and increasing demand for advanced technologies to develop advanced products are contributing to the growth of active implantable medical devices market in the region.
Active Implantable Medical Devices Market: Segmentation
The report on global active implantable medical devices market covers segments such as product types. On the basis of product types, the sub-markets include implantable cardiac pacemakers, implantable defibrillators, implantable Neuro Stimulator systems, cochlear implants, haemodynamic support, implantable glucose monitors, insertable cardiac monitor (implantable monitoring devices), ventricular assist devices (VAD), implantable infusion pumps and accessories, and others.
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Active Implantable Medical Devices Market: Competitive Landscape
The report provides profiles of the companies in the market such as Abbott, Medtronic, Boston Scientific Corporation, Nurotron Biotechnology Co. Ltd., LivaNova PLC, Biotronik Se & Co., Kg, Med-EL, Sonova Holding AG, and Cochlear Ltd.
Report Findings
1. Drivers
- Rising Occurrence of Neurological and Cardiovascular Disorders.
- Innovations and Advancements in the Implantable Medical Devices.
- Favorable Reimbursement Policies are Providing Assistance Towards the Market Growth.
2. Restraints
- Different Regulatory Frameworks for Implantable Medical Devices Across Various Countries are Expected to Slump the Market Growth.
3. Opportunities
- Growing Healthcare Infrastructure in the Emerging Market.
- Rising Government Funding in the Research and Development Activity.
