Industry Background:
An active implantable medical device is a device, which is hereby intended to be either wholly or partially put into the human body surgically or medically or through the process of a medical procedure into a natural opening and that it should remain inside the body even after the procedure. It is a medical device that is intended to be wholly or partially introduced into the human body for diagnostic or therapeutic purposes and is intended to remain in place. These benefit remarkably from the increasing spread of several chronic diseases such as cardiovascular and neurological diseases. The constant product launches and the simplified approval process also support the growth of this market considerably.
According to AMA Research, the market for Active Implantable Medical Devices is expected to register a CAGR of 7.3% during the forecast period to 2028. This growth is primarily driven by The Increasing Number of Patients with Cardiovascular Diseases and Neurological Disorders
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | K Units |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Medical Devices sector in the Asia Pacific region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Medtronic (Ireland), Abbott Laboratories (United States), Boston Scientific Corporation (United States), BIOTRONIK (Germany), LivaNova PLC (United Kingdom), Cochlear Limited (Australia), MED-EL (Austria), Sonova (Switzerland), Demant (Denmark) and Nurotron Biotechnology (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In 2022, FDA has approved Abbott's CardioMEMSTM HF system to support patients with early-stage heart failure. Patients in the early stages of heart failure can now access the CardioMEMSTM HF system, an implanted small sensor that can detect early warning signs of worsening heart failure. and In 2022, BIOTRONIK is FDA-approved for Renamic Neo, the future programmer of implantable heart rhythm management devices including pacemakers, ICDs and implantable heart monitors.
In 2021, MicroTransponder is US FDA-approved for the Vivistim Paired VNS System, a drug-free stroke rehabilitation system for the treatment of moderate to severe upper extremity motor impairment associated with chronic ischemic stroke., In 2021, Boston Scientific has launched the WaveWriter Alpha spinal cord stimulator system in the United States for chronic pain relief. and In 2020, Abott has received the CE Mark for its new Gallant implantable defibrillator (ICD) and cardiac resynchronized defibrillator (CRT-D) devices. The device opens new opportunities for patient engagement and remote monitoring through new smartphone connectivity and connected applications. Additional benefits include a patient-preferred design, improved battery life, and MRI compatibility.The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies.
Influencing Trend:
Expanded Applications of Neurostimulators, Favorable Reimbursement Scenario for ENT Procedures in Developed Countries and The Rising Expenditure on Healthcare
Market Growth Drivers:
The Increasing Number of Patients with Cardiovascular Diseases and Neurological Disorders, Growth in Aging Population, Demand For Implantable Cardioverter Defibrillators and The Increasing Focus on R&D Is a Key Trend
Challenges:
Device Failure
Restraints:
The High Cost of Implants
Opportunities:
Healthcare Reforms for Infrastructural Development and Technological Advancements in Developing Novel Active Implantable Devices
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Active Implantable Medical Devices Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Active Implantable Medical Devices Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Active Implantable Medical Devices players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Active Implantable Medical Devices Study Sheds Light on
The Active Implantable Medical Devices Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Active Implantable Medical Devices industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Active Implantable Medical Devices industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.