Active Implantable Medical Devices Market Growth: Unveiling Opportunities

Active implantable medical devices are used for implantation or insertion into the body to diagnose, monitor, treat or prevent disease. These devices include implantable cardiovascular devices, implantable neurostimulators, and implantable drug pumps. The increasing prevalence of cardiovascular and neurological disorders worldwide is significantly driving the demand for implantable devices. Moreover, rising awareness about continuous patient monitoring among doctors and patients is also fueling the adoption of implantable devices.

The global Active Implantable Medical Devices Market is estimated to be valued at US$ 26.82 Bn in 2023 and is expected to exhibit a CAGR of 7.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The increasing adoption of implantable devices is mainly attributed to the growing demand for minimally invasive surgeries. Implantable devices help in reducing surgical procedures time and hospital stay of patients. Moreover, implantable devices offer real-time monitoring of patients physiological parameters remote monitoring which helps doctors to continuously monitor patients health status. Implantable devices integrated with advanced technologies such as artificial intelligence and internet of things further allows improved therapy management. Wider connectivity through combination with smartphones is also anticipated to drive the active implantable medical devices market over the forecast period. However, factors such as lack of reimbursement policies in developing regions and high cost of implant surgeries may hamper market growth.

Segment Analysis
Content: The global active implantable medical devices market is dominated by implantable cardioverter defibrillators segment. Implantable cardioverter defibrillators account for around 40% of the total active implantable medical devices market. These devices are used for monitoring abnormal heart rhythms and providing electric shocks to restore normal heartbeats when needed. The demand for implantable cardioverter defibrillators is high due to rising incidence of cardiovascular diseases worldwide.

Key Takeaways

The global active implantable medical devices market is expected to witness high growth. The market size is projected to reach US$ 26.82 Bn in 2023.

North America is currently the largest market for active implantable medical devices and is expected to maintain its dominance during the forecast period. High prevalence of cardiovascular diseases, increasing patient awareness about advanced treatment options, presence of sophisticated healthcare infrastructure and favorable reimbursement policies are some of the factors driving the growth of active implantable medical devices market in North America.

Key players operating in the active implantable medical devices market are Medtronic PLC, Abbott Laboratories, Boston Scientific Corporation, BIOTRONIK SE & Co. KG, LivaNova, Cochlear Limited, MED-EL, Sonova Holding AG, William Demant Holding A/S, and Nurotron Biotechnology Co. Ltd. Medtronic is one of the leading players in the active implantable medical devices market, offering a wide range of implantable cardioverter defibrillators, implantable cardiac pacemakers and implantable neurostimulators among others.