The factors such as increasing prevalence rate of cardiovascular diseases, rising occurrence of neurological disorders, and increasing funds and investments to develop technologically advanced products are likely to contribute to the healthy growth of the market. Moreover, rising elderly population is one of the significant drivers impelling the growth of the market.
New York, May, 2021: Axiom Market Research & Consulting™ added a report on global active implantable medical devices market which includes study on product and end user across various countries of key regions across the globe. The global active implantable medical devices market was projected to grow at a CAGR of 7.32% for the forecast period 2021 to 2027. The global market is estimated and forecasted in terms of revenue (USD Million) generated by the active implantable medical devices market.
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The report analyses the global active implantable medical devices industry based on product, end user, and geography. The product segment of the industry is segmented into implantable cardioverter defibrillators, ventricular assist devices, implantable heart monitors/insertable loop recorders, neurostimulators, and implantable hearing devices. The major end users of active implantable medical devices are hospitals, ambulatory centers, cardiac centers, dental clinics, and others. The global active implantable medical devices market is studied across various key countries of regions such as, North America, Europe, Asia Pacific and Rest of the World.
The key competitors of this market include Medtronic plc, Abbott Laboratories, Boston Scientific Corporation, BIOTRONIK SE & Co. KG, LivaNova PLC, Cochlear Limited, MED-EL, Sonova Holding AG, William Demant Holding A/S, Nurotron Biotechnology Co., Ltd, Zimmer Biomet, Smith & Nephew, Straumann AG, Stryker, Dentsply Sirona, Allergan Inc, Microport Scientific Corporation and CONMED Corporation among others.
Active Implantable Medical Devices Market Regional Trends
North America is expected to witness the fastest growth in upcoming years owing to hold significant share in terms of value. The growing demand for active implantable medical devices in the region is attributed to the well-established healthcare industry across the region. The economies such as the United States, Canada and Mexico are projected to witness fast growth during forecast period due to ongoing technological advancements, growing research and developments in the field of implantable medical devices, and increasing incidence of neurological and cardiovascular diseases.
Active Implantable Medical Devices Market Segmental Highlights
- The implantable cardioverter defibrillators segment is expected to dominate the active implantable medical devices market during the forecast period 2021 to 2027. The growth of this segment is rapidly improving owing to its increasing prevalence rate of cardiovascular diseases and thereby rising demand for these devices in the global market.
- Hospitals segment is expected to witness rapid growth during the projection period. Increasing number of hospitals, rising spending in healthcare settings and adoption of technologically advanced medical devices for treatment are likely to contribute to the segment growth.
- North America dominated active implantable medical devices market in 2020 and is expected to witness the fastest growth in upcoming years.
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Research Objectives of Active Implantable Medical Devices Market Report:
- Analyzing the outlook of the market with the recent trends and Porter’s five forces analysis.
- Market dynamics, which essentially consider the factors that are impelling the present market scenario, along with growth prospects of the market over the forecast period.
- Market segmentation analysis, including qualitative and quantitative research, incorporating the impact of economic and non-economic aspects.
- Country-level analysis, integrating the demand and supply forces that are influencing the growth of the Active Implantable Medical Devices Market.
- Competitive landscape involving the market share of major players, along with the key strategies adopted for development over the past five years.
- Comprehensive company profiles, covering the product offerings, key financial information, recent developments and strategies employed by the major market players
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