Active implantable medical devices are totally or partially introduced into the body by a surgical procedure in a natural orifice. The device remains in that position after the procedure and relies on external electrical energy or any other external power source to function. Active implantable medical devices fall into highest risk categories of medical devices listing of the U.S. Food & Drug Administration (FDA). Implantable pacemaker, cochlear implants, implantable defibrillators, drug infusion pumps, neurostimulator, and cardiac resynchronization therapy devices are some of the active implantable medical devices. These devices play a significant role in management of a number of diseases such as cardiovascular devices, Parkinson’s disease, epilepsy, spasticity, and patients with hearing or visual impairment. Pacemakers and implantable cardioverter defibrillators (ICDs) are significant components in the management of cardiovascular conditions. Strong magnetic field used in Magnetic Resonance Imaging (MRI) procedures could adversely affect the functioning of conventional pacemaker. However, MRI compatible pacemakers can facilitate safe MRI scans, which in turn are expected to increase the adoption of pacemakers. For instance, MRI compatible pacemakers, and leadless pacemakers have been introduced in the market since 2011 by Medtronic, and BIOTRONIK
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The market for active implantable medical devices is anticipated to expand on account of technological developments in the sector and the introduction of new products
Market leaders are investing heavily in research and development and product launches as a means of maintaining competitiveness and growing their share of the market. Smaller versions of pacemakers and ICDs have helped streamline the implantation process from its more complicated beginnings, and this trend reflects the industry’s commitment to constant improvement. As a result, the market for such items is anticipated to expand. For instance, in 2016, the U.S. Food and Drug Administration approved Medtronic’s first leadless pacemaker, the Micra TPS. The active implantable medical devices market is predicted to expand thanks to developments like cardiac contractility modulation and wireless pacing. Market expansion is anticipated in part due to the increasing prevalence of implantable continuous glucose monitoring systems (such as Sensonic’s Eversense CGM with implantable sensor, which can monitor glucose levels for up to 90 days) and implantable infusion pumps. The proliferation of wireless networks and mobile connectivity has also contributed to the enhancement of these tools. For example, in July 2017, Cochlear Ltd. and Apple, Inc. released cochlear implants that could connect to an iPhone.
A robust CAGR of 5.4% is anticipated for the global market for active implantable medical devices, which was valued at US$16,721.2 million in 2022. (2023–2030).
The market for active implantable medical devices is expected to grow rapidly over the forecast period due to the increasing prevalence of cardiovascular disease, chronic pain disorders, and hearing loss
The market is expected to expand thanks to the rising incidence of cardiovascular diseases, chronic pain diseases, and their associated comorbidities around the world. Every year, cardiovascular disease kills about 17 Mn people worldwide, says the WHO. Atrial fibrillation is the most common form of heart arrhythmia, affecting between 2.7 and 6.1 Mn Americans in 2017. This estimate comes from the Centers for Disease Control and Prevention (CDC). It has been reported that countries with both developed and developing economies, such as India, have a high prevalence of neurological disorders like Parkinson’s disease, epilepsy, essential tremors, and dystopia. According to the National Institute of Health (2013), approximately 50,000 people in the United States are diagnosed with Parkinson’s disease each year. As neurostimulation has proven effective in treating these neurological diseases, the market for implantable medical devices is expected to expand during the forecast period.
Infection at the surgical site and sensitivity to the device material are two of the risks associated with using active implantable medical devices, both of which act as restraints on market expansion. Another factor hindering market expansion is the frequent occurrence of either delayed therapy delivery or unnecessary overuse of therapy. The United States Food and Drug Administration classifies active implantable medical devices as being in the highest risk category, meaning they are subject to the strictest scrutiny with regards to security and privacy. For example, in August 2017, St. Jude Medical, Inc. recalled roughly 500,000 pacemakers due to hacking concerns. These kinds of occurrences may slow the market expansion for active implantable medical devices during the predicted time period.
Cochlear Limited, Boston Scientific Corporation, Medtronic Plc, LivaNova Plc, Abbott Laboratories, Sonova Holding AG, William Demant holding A/S, Nurotron Biotechnology Co., Ltd., and Med-EL are all significant players in the market for active implantable medical devices.
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Table of Contents with Major Points:
- Key Findings
- Definitions and Assumptions
- Definition of Active Implantable Medical Devices Market
- Market Dynamics
- Trends and Developments
- Key Emerging Trends
- Key Developments Mergers and Acquisition
- New Product Launches and Collaboration
- Partnership and Joint Venture
- Latest Technological Advancements
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
Qualitative Insights Impact of COVID-19 on Global Active Implantable Medical Devices Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
- Data Sources
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