Active implantable medical devices such as pacemakers and implantable cardiac defibrillators are small devices that are implanted surgically or placed inside the body to monitor heart rhythm continuously. Such devices help in delivering electrical pulses to restore normal heart rhythm when the heart beats too fast, too slowly, or irregularly. The rising cases of cardiovascular diseases around the world have augmented the demand for active implantable medical devices.
The global Active Implantable Medical Devices Market is estimated to be valued at US$ 25.5 billion in 2023 and is expected to exhibit a CAGR of 7.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
Rising prevalence of cardiovascular diseases presents a major market opportunity for active implantable medical devices. According to WHO, cardiovascular diseases are the number one cause of death globally, taking an estimated 17.9 million lives each year. Conditions like coronary heart disease, cerebrovascular disease and rheumatic heart disease are responsible for most cardiovascular deaths. High risk factors for cardiovascular diseases like obesity, smoking and physical inactivity are on the rise globally, leading to a burgeoning patient pool requiring active implantable medical devices. Expanding indications for implantable technologies like pacemakers, coupled with rising healthcare infrastructure and expenditure in emerging economies are likely to drive the demand for active implantable medical devices over the forecast period.
Porter’s Analysis
Threat of new entrants: Low-to-medium threat as this industry requires heavy capital investments and government regulations pose entry barriers for new players. However, some small players are entering developing markets.
Bargaining power of buyers: Medium bargaining power as some large buyers like hospitals can negotiate for lower prices and demand high-quality services. Competition offers alternatives to buyers.
Bargaining power of suppliers: Low bargaining power as the industry requires components and raw materials from specialized suppliers and alternative suppliers are available in most cases.
Threat of new substitutes: Medium threat as other treatments options like drugs and external devices can be substitutes depending on the condition. Technological advancements pose threat from new substitutes.
Competitive rivalry: High rivalry as the industry has many global and regional players competing on innovations, pricing, and quality. Product differentiation and strong branding mitigate competition to some extent.
SWOT Analysis
Strengths: Established brands, technological expertise, strong distribution network, healthcare infrastructure in developed markets
Weaknesses: High R&D costs, pricing pressures, stringent regulations
Opportunities: Aging population, growing chronic conditions, expansion in emerging countries
Threats: Reimbursement challenges, data privacy concerns, alternative treatment options
Key Takeaways
The global active implantable medical devices market is expected to witness high growth over the forecast period of 2023 to 2030. The increasing aging population prone to chronic conditions and growing healthcare expenditure in developing economies will drive the demand. The global Active Implantable Medical Devices Market is estimated to be valued at US$ 26.8 billion in 2023 and is expected to exhibit a CAGR of 7.7% over the forecast period 2023-2030.
Regional analysis indicates that North America will continue dominating the market due to advanced healthcare infrastructure and supportive reimbursement policies. However, Asia Pacific is poised to grow at the fastest pace led by China, India, and other Southeast Asian countries where healthcare sectors are expanding rapidly.
Key players operating in the active implantable medical devices market include Boston Scientific Corporation, Medtronic Plc, Abbott Laboratories, Cochlear Ltd., LivaNova Plc. These players are focusing on product innovation, technological advancements and geographical expansion to consolidate their presence. Strategic acquisitions are also carried out by major players to strengthen their product portfolios.
Active implantable medical devices market size is set to reach $28.8 billion by 2023, growing at a CAGR of 8.0% between 2017-2023.
Technological advancements, increasing prevalence of cardiovascular diseases, increasing healthcare expenditures and rising research and development activities are the major factors driving the growth of the market.The R investments for the development of novel and innovative active implantable medical devices are increasing due to increased demand for effective implantable medical devices.
Moreover, the currently available devices require surgical implantation and replacement surgeries after every few years.
The technologically advanced implantable medical devices facilitate non-invasive procedures for the safe and effective treatment of drug-resistant neurological disorders.
Many companies in the active implantable medical devices market such as Medtronic Inc., Boston Scientific Corporation, LivaNova plc, William Demant Holding AG and Cochlear Ltd. are actively involved in the development of new and advanced active implantable devices.Request to Get the Sample Pages at: https://www.psmarketresearch.com/market-analysis/active-implantable-medical-devices-market/report-sampleThe Asia-Pacific active implantable medical devices market is expected to grow at the fastest rate in the forecast period as compared to other regions, mainly due to growing aging population in various countries, such as India and China.
Moreover, the substantially larger base of the aging population in these Asian countries, is expected to drive the growth of the active implantable medical device market in the region.
The global Active Implantable Medical Devices market is valued at million US$ in 2018 and will reach million US$ by the end of 2025, growing at a CAGR of during 2019-2025.
The objectives of this study are to define, segment, and project the size of the Active Implantable Medical Devices market based on company, product type, end user and key regions.This report studies the global market size of Active Implantable Medical Devices in key regions like North America, Europe, Asia Pacific, Central & South America and Middle East & Africa, focuses on the consumption of Active Implantable Medical Devices in these regions.Key questions addressed by the reportWhere will all these developments take Active Implantable Medical Devicesin the mid- to long-term?What are the upcoming technological trends in the Active Implantable Medical Devicesmarket?What are the opportunities for various players that exist at present and those that are planning to enter at different stages of the value chain?How growth strategies implemented by key players will impact the growth rate of the Active Implantable Medical Devicesmarket, and who will have the undue advantage?What are the current adoption trends of the Active Implantable Medical Devicesmarket?Report Sample includes:- Table of Contents- List of Tables & Figures- Charts- Research MethodologyGet FREE Sample of this Report at https://www.24marketreports.com/report-sample/global-active-implantable-medical-devices-2025-64This research report categorizes the global Active Implantable Medical Devices market by top players/brands, region, type and end user.
This report also studies the global Active Implantable Medical Devices market status, competition landscape, market share, growth rate, future trends, market drivers, opportunities and challenges, sales channels and distributors.The following manufacturers are covered in this report, with sales, revenue, market share for each company:MedtronicAbbott LaboratoriesBoston Scientific CorporationBIOTRONIKLivaNovaTo know more manufacturersMarket size by ProductImplantable Cardioverter DefibrillatorsVentricular Assist DevicesImplantable Heart Monitors/Insertable Loop RecordersNeurostimulatorsImplantable Hearing DevicesMarket size by End UserBradycardiaTachycardiaHeart FailureOtherMarket size by RegionNorth AmericaUnited StatesCanadaMexicoAsia-PacificChinaIndiaJapanSouth KoreaAustraliaIndonesiaSingaporeMalaysiaPhilippinesThailandVietnamEuropeGermanyFranceUKItalySpainRussiaCentral & South AmericaBrazilRest of Central & South AmericaMiddle East & AfricaGCC CountriesTurkeyEgyptSouth AfricaThe study objectives of this report are:To study and analyze the global Active Implantable Medical Devices market size (value & volume) by company, key regions, products and end user, breakdown data from 2014 to 2018, and forecast to 2025.To understand the structure of Active Implantable Medical Devices market by identifying its various subsegments.To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).Focuses on the key global Active Implantable Medical Devices companies, to define, describe and analyze the sales volume, value, market share, market competition landscape and recent development.To project the value and sales volume of Active Implantable Medical Devices submarkets, with respect to key regions.To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.In this study, the years considered to estimate the market size of Active Implantable Medical Devices are as follows:History Year: 2014-2018Base Year: 2018Estimated Year: 2019Forecast Year 2019 to 2025This report includes the estimation of market size for value (million US$) and volume (Units).
Both top-down and bottom-up approaches have been used to estimate and validate the market size of Active Implantable Medical Devices market, to estimate the size of various other dependent submarkets in the overall market.
Key players in the market have been identified through secondary research, and their market shares have been determined through primary and secondary research.
All percentage shares, splits, and breakdowns have been determined using secondary sources and verified primary sources.For the data information by region, company, type and application, 2018 is considered as the base year.
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.Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=102063992Growth in this market can be attributed to 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.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.
Based on region, the active implantable medical devices market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.Browse and in-depth TOC on "Active Implantable Medical Devices Market" 151 - Tables34 - Figures 204 – PagesThe 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.
