Active Implantable Medical Devices market is expected to reach US$ 54,527.1 million by 2028

Publisher: The Insight Partners

Active implantable medical devices market is expected to reach US$ 54,527.1 million by 2028; registering at a CAGR of 8.8% from 2022 to 2028, according to a new research study conducted by The Insight partners

Implantable Cardioverter Defibrillators Segment to Lead Market during 2022–2028

The report highlights trends prevailing in the market and factors driving its growth. 

The report highlights trends prevailing in the market and factors driving its growth. The market growth is attributed to the rising cardiovascular diseases, rising incidences of hearing disorders, and increasing prevalence of neurological disorders across the globe. However, malware problems in these devices are hindering the growth of the global active implantable medical devices market.

Lucrative Regions for Active Implantable Medical Devices Market

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Based on product, the global active implantable medical device market is segmented into implantable cardioverter defibrillators, implantable cardiac pacemakers, neurostimulators, implantable hearing devices, ventricular assist devices, and implantable heart monitors/insertable loop recorders. In 2017, the implantable cardioverter defibrillators segment held the largest share of the active implantable medical device market. Implantable cardioverter defibrillators (ICDs) are useful in preventing sudden death in people suffering from a life-threatening heart condition—arrhythmia that includes ventricular tachycardia (VT) or ventricular fibrillation (VF). Most ICDs, called transvenous ICDs, have two functions and also serve as a pacemaker. In April 2019, Biotronik launched a newly developed implantable defibrillator of the Acticor series. The newly launched device offers less leads, reduced surgical procedure time, and low costs.

Based on end user, the active implantable medical device market is segmented into hospitals, ambulatory surgical centers, and specialty clinics. In 2017, the hospitals segment held the largest share of active implantable medical device, and it is expected to continue a similar trend during the forecast period. The adoption of new technology devices by hospitals across the globe has resulted in the growth of the overall market. For instance, the Crome ICD, developed by Medtronic, has incorporated a technology that allows patients to be monitored remotely through an application on their smartphone or tablet. In the event of a cardiac arrest, the device sends an alert to the patient’s care team. In July 2021, three patients received the Crome ICD at St. Michael’s Hospital in Ontario (Canada), and their hospital visits gradually decreased.

Medtronic, Abbott, Boston Scientific Corporation, BIOTRONIK, LivaNova PLC, Cochlear Ltd., MED-EL Sonova, and William Demant Holding A/S are the leading companies in the global active implantable medical device market. The market is anticipated to grow with the development of new innovative products by market players.

The report segments the active implantable medical device market as follows:

The active implantable medical device market is segmented on the basis of product, end user, and geography. Based on product, the global active implantable medical device market is segmented into implantable cardioverter defibrillators, implantable cardiac pacemakers, neurostimulators, implantable hearing devices, ventricular assist devices, and implantable heart monitors/insertable loop recorders. The implantable cardioverter defibrillators segment is further subdivided into transvenous implantable cardioverter defibrillators and subcutaneous implantable cardioverter defibrillators. Based on end user, the global active implantable medical device market is segmented into hospitals, ambulatory surgical centers, and specialty clinics. Based on geography, the active implantable medical device market is segmented into North America (US, Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, and Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia Pacific), the Middle East & Africa (UAE, Saudi Arabia, South Africa, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America). 

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