The Active Implantable Medical Devices by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Active Implantable Medical Devices, The active implantable medical devices market size has grown strongly in recent years. It will grow from $24.8 billion in 2023 to $26.89 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to strong economic growth in emerging markets, increased healthcare expenditure, increased prevalence of cardiovascular diseases, and growth in the number of healthcare facilities..
The active implantable medical devices market size is expected to see strong growth in the next few years. It will grow to $37.2 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to the elderly population, government support, and increasing burden of neurological diseases. Major trends in the forecast period include launching new active implantable medical devices, partnerships and collaborations, integration of wireless technologies for implantable medical device charging, and integration of artificial intelligence (ai) to improve their product offerings and to stay competitive in the market..
An increasing number of cardiovascular diseases is expected to propel the growth of the active implantable medical devices market going forward. Cardiovascular disease (CVD) refers to any condition that affects the heart or blood vessels. It is generally associated with the formation of fatty deposits inside the arteries (atherosclerosis) and an increased risk of blood clots. Active implantable medical devices are used to regulate or monitor irregular heartbeats in people who have specific heart rhythm problems or heart failure. The rise in the geriatric population has favored the demand for active implantable medical devices. For instance, in August 2022 according to a report published by the American College of Cardiology, a US-based non-profit medical association, cardiovascular risk factors are expected to increase from 2025 to 2060, with the highest proportional increase in diabetes (a 39.3% increase to 55 million), followed by dyslipidemia (a 27.6% increase to 126 million), hypertension (a 25.1% increase to 162 million), and obesity (18.3% to 126 million). The researchers have found that stroke (33.8% to 15 million) and heart failure (33.4% to 13 million) had the biggest expected increases in cardiovascular disease rates, followed by ischemic heart disease (30.7% to 29 million) and heart attack (16.9% to 16 million). Therefore, the increase in cardiovascular diseases is driving the growth of the active implantable medical devices market.
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The active implantable medical devices market covered in this report is segmented –
1) By Product Type: Cardiac Pacemakers, Implantable Cardioverter Defibrillators (ICD), Nerve Simulators, Cochlear Implants, Ventricular Assist Devices, Other Products
2) By Application: Cardiovascular, Neurological, Hearing Impairment, Other Applications
3) By End User: Hospitals, Specialty Clinics, Ambulatory Surgical Centers
Top Major Players:
Medtronic PLC
Boston Scientific Corporation
Cochlear Limited
Abbott Laboratories
Sonova Holding AG
North America was the largest region in the active implantable medical devices market in 2023.
Product innovations have emerged as a key trend gaining popularity in the active implantable medical devices market. Major companies operating in the market are developing innovative products to sustain their position in the market. For instance, in June 2021, the researchers of Northwestern and George Washington University, a US-based nationally chartered private research university developed the first transitory pacemaker – a wireless, battery-free, totally implanted pacing device that vanishes when no longer required. The thin, flexible, and lightweight device can be utilized in patients who require temporary pacing following cardiac surgery or while awaiting a permanent pacemaker. All pacemaker components are biocompatible and will spontaneously dissolve into the body’s biofluids over the course of five to seven weeks without the need for surgical extraction. Using near-field communication protocols, the device wirelessly gathers energy from an external, remote antenna. This eliminates the need for heavy batteries as well as stiff hardware such as wires (or leads).
The active implantable medical devices market report table of contents includes:
1. Executive Summary
2. Active Implantable Medical Devices Market Characteristics
3. Active Implantable Medical Devices Market Trends And Strategies
4. Active Implantable Medical Devices Market – Macro Economic Scenario
5. Global Active Implantable Medical Devices Market Size and Growth
….
32. Global Active Implantable Medical Devices Market Competitive Benchmarking
33. Global Active Implantable Medical Devices Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Active Implantable Medical Devices Market
35. Active Implantable Medical Devices Market Future Outlook and Potential Analysis
36. Appendix
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