(EMAILWIRE.COM, July 25, 2019 ) According to the new market research report "Active Implantable Medical Devices Market by Product (Implantable Cardioverter Defibrillators (Transvenous & Subcutaneous), Cardiac Pacemaker, Ventricular Assist Device, Neurostimulator, Implantable Hearing Devices) - Global Forecast", published by MarketsandMarkets™, the active implantable medical devices market witnessed healthy growth during the last decade and is expected to grow at a CAGR of 7.8%, to reach USD 26.75 Billion.

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The global active implantable medical devices market is segmented based on product and region. Based on product, the market is segmented into implantable cardioverter defibrillators, implantable cardiac pacemakers, implantable heart monitors/insertable loop recorders, ventricular assist devices, neurostimulators, and implantable hearing devices.

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The implantable cardioverter defibrillators segment accounted for the largest share of the global active implantable medical devices market. However, the implantable hearing devices segment is expected to witness the highest growth in the next five years. The growth of the implantable hearing devices is mainly attributed to the increasing prevalence of hearing loss across the globe and growing ENT procedures due to favorable reimbursement policies in the developed countries.

North America is the largest regional segment for the active implantable medical devices market. The large share of this regional segment can be attributed to the growth in geriatric population, increasing prevalence of cardiovascular and neurological diseases, high accessibility to advanced technologies, increasing development of innovative and technologically advanced products, and increasing healthcare expenditure in the region.

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Medtronic plc (Ireland), Abbott Laboratories (U.S.), and Boston Scientific Corporation (U.S.) held the major share of the implantable cardiovascular and neurostimulators devices market. Whereas, Cochlear Limited (Australia), MED-EL (Austria), Sonova Holding AG (Switzerland), and William Demant Holding A/S (Denmark) held the major share of the implantable hearing devices market.