(EMAILWIRE.COM, July 09, 2021 ) Expected Revenue Surge: The Active Implantable Medical Devices Market is estimated to grow at a CAGR of 7.8%, to reach USD 26.75 Billion.

The Factors such as growth in aging population, increasing prevalence of cardiovascular and neurological diseases, investments and funds to develop technologically advanced products, expanded applications of neurostimulators, and favorable reimbursement scenario for ENT procedures in developed countries are the primary growth drivers for the implantable and life-sustaining devices market. However, unfavorable healthcare reforms in the U.S., issues related to the use of implantable medical devices, and the high cost of implants may hinder the growth of this market to a certain extent.

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Active Implantable Medical Devices Market Segmentation in Detailed:

On the basis of product, Segmented into implantable cardioverter defibrillators, implantable cardiac pacemakers, implantable heart monitors/insertable loop recorders, ventricular assist devices, neurostimulators, and implantable hearing devices. The implantable cardioverter defibrillators segment accounted for the largest share of the implantable and life-sustaining devices market, owing to the increasing incidence of cardiovascular diseases, development of technologically advanced devices, and increasing demand for these devices in emerging countries.

Geographically, Segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. North America commanded a major share of the global implantable and life-sustaining devices market. North America’s largest share is primarily 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. However, Asia-Pacific is expected to witness the highest growth rate during the forecast period. Growth in the Asia-Pacific market can be attributed to the growth in geriatric population, growing incidence of chronic diseases, rising healthcare spending, healthcare reforms for infrastructural development, growing demand for advanced technologies to develop advanced products, and less stringent regulations.

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The active implantable medical devices market is highly consolidated in nature where the prominent players are accounting for the major share. To expand their geographic presence and garner higher shares in this market, major players are continuously focusing on product launches; mergers and acquisitions; agreements, partnerships, and collaborations; and expansions. The implantable cardiovascular devices market was dominated by three major players in 2015, together accounted for a share of around 85%. Similarly, the implantable neurostimulators devices market was led by three major players in 2015, together accounted for a share of around 95%.

Some of the prominent players in the active implantable medical devices market include Medtronic plc (Ireland), Abbott Laboratories (U.S.), Boston Scientific Corporation (U.S.), BIOTRONIK SE & Co. KG (Germany), and LivaNova PLC (U.K.). Whereas, Cochlear Limited (Australia), MED-EL (Austria), Sonova Holding AG (Switzerland), William Demant Holding A/S (Denmark), and Nurotron Biotechnology Co., Ltd. (China) are the key players in the implantable hearing devices market.