The Global Active implantable Medical Devices Market is expected to reach US$ 39,026.9 Mn by 2025 from US$ 22,096.9 Mn in 2017. The market is estimated to grow with a CAGR of 7.9% during the forecast period from 2018 to 2025. The growth of the active implantable medical devices market is primarily attributed to the increasing prevalence of cardiovascular diseases, neurological disorders & hearing disorders, increasing technological advancements & new product launches and large pool of geriatric population are the major factors that anticipated to propel the growth for the active implantable medical devices market in the forecast period However, high cost of products and procedures and high rate of product recalls expected to act as major challenges hindering the market growth. On the other hand, growing product innovations is expected to be prevalent future trend in the global active implantable medical devices market
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Global active implantable medical devices market segmented into by product and end user. Based on product, the 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 bifurcated into transvenous implantable cardioverter defibrillators and subcutaneous implantable cardioverter defibrillators. On the basis of end user, the active implantable medical devices market classified as hospitals, ambulatory surgery centers and specialty clinics.
The global market of active implantable medical devices was classified into implantable cardioverter defibrillators, implantable cardiac pacemakers, neurostimulators, implantable hearing devices, ventricular assist devices and implantable heart monitors/insertable loop recorders, by product.
The implantable cardioverter defibrillators segment anticipated to the largest share segment in the forecast period. However, implantable hearing devices segment is also expected to the fastest growing segment in the coming years. The rising prevalence of arrhythmia help to enhances the demand for implantable cardioverter defibrillators majorly helping in increasing the growth of this market. Furthermore, the rising prevalence of high blood pressure, ischemic heart disease, heart failure and increasing alcohol consumption influences market growth.
The hospital segment expected to the largest share segment and fastest growing segment in the coming years. The increasing adoption of new technology devices in the hospitals and rising hospital research drives the market growth for the active implantable medical devices in the forecast period.
The active implantable medical devices market was estimated through extensive primary and secondary sources that included a vast array of government authorized websites such as International Trade Administration (ITA), Food and Drug Administration (FDA), Saudi Arabian Monetary Agency (SAMA), International Diabetes Federation (IDF), China National Committee on Aging (CNCA) and others. The primary respondents included chair-holders and representatives of the demand and supply side for healthcare industries as well as medical professionals at various active implantable device manufacturing companies, hospitals, and research centers.
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