Active Implantable Devices Market Is Expected To Grow At CAGR Of 6.7% From 2017 To Reach $24.02 Billion By 2022 : Meticulous Research
The global active implantable devices market will grow at a CAGR of 6.7% during the forecast period to reach USD 24.02 billion by 2022, according to the latest publication from Meticulous Research®. The global active implantable devices market is driven by increasing incidence & prevalence of cardiovascular diseases, technological advancements, increasing prevalence of neurological diseases with growing age, and expanded application of neurostimulators in chronic pain therapy. However, stringent regulations related to active implantable devices, issues related to the use of implantable medical devices, and high cost of implants along with an unfavorable reimbursement scenario is expected to hinder the growth of active implantable devices market to some extent. Further, increasing pricing pressure on market players poses a great challenge for the growth of this market.
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The global active implantable devices market is mainly segmented by implantable cardioverter defibrillators, neuromodulation, implantable cardiac pacemakers, implantable hearing devices, ventricular assist devices, and implantable heart monitors/insertable loop recorders. Implantable cardioverter defibrillators held the largest share of active implantable devices in 2016, primarily due to rising adoption of ICDs for the prevention of sudden cardiac deaths (SCD) in patients at high risk for SCD with increasing incidence of cardiac arrest and atrial fibrillation, and growing burden of patients with high blood pressure.
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The implantable cardioverter defibrillators (ICDs) market is further sub-segmented into transvenous ICDs and subcutaneous ICDs with transvenous ICDs accounting for the major share, owing to their wide availability & adoption worldwide, anti-tachycardia pacing feature, increasing prevalence of cardiovascular diseases, and growing demand of the implantable therapy. Transvenous implantable cardioverter defibrillator market is further segmented into biventricular ICDs/cardiac resynchronization therapy defibrillators (CRT-DS), dual-chamber ICDs, and single-chamber ICDs.
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Active Implantable Devices Market, By Geography, 2017-2022
By geography, the global market is segmented into five major geographies namely: North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America holds the major share of the global active implantable devices market in 2016, followed by Europe, and Asia-Pacific. The large share of this region is primarily attributed to the increasing incidence of cardiovascular diseases and neurological disorders with rising greying population, and expanded application of neurostimulators for chronic pain therapy; well-established healthcare system & distribution channel; higher spending on healthcare; and presence of leading players in this market. However, Asia-Pacific market is expected to grow at a faster CAGR during the forecast period, owing to rising incidence & prevalence of cardiovascular diseases such as ischemic heart diseases, stroke, and heart failures; increasing neurological disorders with rising greying population; and increasing burden of hypertension due to changing lifestyles. In addition, improving healthcare infrastructure, rising awareness about active implantable therapy with various government initiatives, increasing healthcare spending, rising affordability of middle class population, and increasing urbanization further expected to boost the growth of active implantable devices market in this region.
Here Top (10) Leading Companies Operating In Active Implantable Devices Market: https://meticulousblog.org/top-companies-in-active-implantable-devices-market/
The global active implantable devices market is highly consolidated with the top three players namely Medtronic plc (Ireland), Abbott Laboratories (U.S.), and Boston Scientific Corporation (U.S.) together holding around three-fourth share of this market in 2016. The other key players in the global active implantable devices market are BIOTRONIK SE & Co. KG (Germany), and LivaNova PLC (U.K.), Cochlear Limited (Australia), MED-EL (Austria), Sonova Holding AG (Switzerland), William Demant Holding A/S (Denmark), and Nurotron Biotechnology Co., Ltd. (China).
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