- Report ID: BMRC 442 | Number of pages: 199 | Publish Date: Jan 2020
Status: Published | Category: Healthcare | Delivery Timeline:
Active Implantable Device Market is valued at USD 23361.0 Million in 2018 and expected to reach USD 39170.8 Million by 2025 with the CAGR of 7.66% over the forecast period
Active implantable devices are medical devices like cochlear implants, implantable defibrillators, implantable cardiac monitoring devices, implantable nerve stimulators, ventricular assist devices (VAD) which are intended to be totally or partially introduce surgically into the human body or by some medical intervention into natural orifice, and which are also intended to remain after the procedure. Primarily they are used to detect, monitor, avert, alleviate or treat disease or conditions in the patients. The large number of factors are boosting the global consumption of medical implantable devices. Some of them are the rising numbers of people suffering from chronic degenerative diseases such as arthritis and cardiovascular issues and the high prevalence of dental problems, which could require orthodontic and periodontics interventions. While busy lifestyles, unhealthy dietary habits, lack of physical activities, and rising geriatric population are triggering chronic health diseases and the rising intake of junk food is leading to the increased incidences of dental issues. In future, these factors are expected to arise as the high-impact drivers of the global active implantable medical devices.
Global active implantable medical devices market report is segmented on the basis of product, application, end-user and region & country level. Based upon product, active implantable medical devices market is classified into orthopedic implants, dental implants, breast cancer, cardiovascular implants, intraocular lens and others. Based upon application, active implantable medical devices market is classified into cardiovascular, neurological, hearing impartment and others. Based upon end-user, active implantable medical devices market is classified into hospitals, specialty clinics and ambulatory surgical center.
The regions covered in this active implantable medical devices market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Active implantable medical devices is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Some major key players for global active implantable device market Nrotron Biotechnology Co Ltd, Abbott Laboratories, BIOTRONIK SE &Co. KG, William Demart Holding A/S, LivaNova PLC, Sonova Holding AG, Cochlear Limited, Boston Scientific Corporation, MED-EL and Medtronic plc. and others.
The Increasing Need for Faster, Effective, and Safer Devices and Technological Advancements in Cardiac Implant are the Major Factors Driving the Market Growth.
Nowadays, large number of chronic disease are increasing among the population which results in increased demand for faster, effective, and safer implanting devices. In addition, increasing healthcare expenditure, growing elderly population, rising governments funding for R&D activates and technological advancement are some of major factors of driving the market growth. Furthermore, favorable reimbursement policies, rising accessibility for healthcare facilities, rapid development of the healthcare sector, changing lifestyle and increasing awareness regarding cardiac diseases, are some other factors expected to foster growth revenue of the target market over the forecasted period. However, high price of implants and an unfavorable repayment scenario are the major obstacle for the market growth. Moreover, increasing research and development in implanting device market and the high preference of minimally invasive procedures can provide lucrative opportunities for the growth of the market.
North America is Expected to Dominate the Global Active Implanting Device Market
North America holds a major share of the global active implantable devices market. Largest share of North America is primarily attributed to the growth in geriatric population, increasing prevalence of cardiovascular and neurological diseases, high accessibility to advanced technologies, rising development of innovative and technologically advanced products and increasing healthcare expenditure in this region. However, Asia-Pacific is commanded to witness the highest growth rate during the forecast period. Growth in the Asia-Pacific market can be attributed to the growth in geriatric population, growing incidence of chronic diseases, rising healthcare spending, healthcare reforms for infrastructural development and growing demand for advanced technologies of develop advanced products.
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Active Implantable Device Market Latest In-Depth Report Segment by Manufacturers, Type, Applications and Dynamics 2020-2025