Global Active Implanted Medical Devices Market Size By Product Type (Implantable Cardioverter Defibrillators, Ventricular Assist Devices, Implantable Heart Monitors, Implantable Cardiac Pacemakers, Implantable Hearing Devices, Neurostimulators), End-user (Hospitals, Clinics, Ambulatory Surgical Cent

Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format

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Active Implanted Medical Devices Market Valuation – 2024-2031

The increasing demand for advanced and high-quality medical devices, rising complexity in product design and engineering, and wide usage of digital technology are significant drivers propelling the active implanted medical devices market forward. According to the analyst from Market Research, the active implanted medical devices market has a valuation of USD 50.8 Billion over the forecast subjugating around USD 27 Billion in 2024.

This surge in demand enables the market to grow at a CAGR of 8.22% from 2024 to 2031.

Active Implanted Medical Devices MarketDefinition/ Overview

Active implantable medical devices are inserted into the body through a natural opening during surgery, either fully or partially. After the process, the device remains in that place and is powered by external electrical energy or another source. Active implantable medical devices are classified as high-risk by the United States Food and Drug Administration (FDA).

Furthermore, among the active implantable medical devices are cardiac resynchronization therapy devices, drug infusion pumps, implantable defibrillators, implantable pacemakers, cochlear implants, and implantable defibrillators. Numerous ailments, including cardiovascular devices, Parkinson’s disease, epilepsy, spasticity, and individuals with hearing or vision impairment, are significantly managed by these devices.

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Which are the Drivers Encouraging the Adoption of Active Implanted Medical Devices?

The active implanted medical devices market is gaining momentum due to advancements in medical technology, the rise of chronic diseases, the aging population, the shift towards minimally invasive procedures, and the focus on preventive and personalized medicine. These devices, such as pacemakers, neurostimulators, and implantable drug delivery systems, use advanced sensors, electronics, and software algorithms to monitor physiological parameters, deliver therapeutic interventions, and improve patient outcomes. The demand for these devices is driven by the rising prevalence of chronic diseases and age-related conditions, which require long-term therapeutic solutions to manage chronic conditions and reduce healthcare costs.

Furthermore, the aging population also demands medical interventions that enable older adults to maintain independence and functionality. The shift towards minimally invasive procedures and outpatient care is also driving the demand for active implanted medical devices, which enable continuous monitoring, early intervention, and personalized treatment approaches. As healthcare systems worldwide prioritize proactive management of chronic conditions and disease prevention, the demand for active implanted devices that support personalized care and remote monitoring is expected to increase, driving market expansion.

What are the Challenges in the Active Implanted Medical Devices Market?

The world of implantable medical devices is a tough one to navigate. These devices have to jump through a ton of hoops to meet the strict rules of regulators like the FDA and EMA. Think clinical trials, safety checks, and constant monitoring. This whole process can be a major headache, slowing down the release of these devices and making them more expensive to develop. Ouch! But that's not all. These devices don't come cheap either. The price tag can be a huge burden for patients and hospitals. Why? Because of all the testing, quality control, and regulation that goes into making sure they're safe. And guess what? This limits who has access to these life-changing treatments.

Furthermore, concerns about device safety, reliability, and long-term performance also pose challenges for manufacturers and healthcare providers. Issues such as device malfunction, component failure, and adverse reactions can pose risks to patient health and safety. Long-term performance issues, such as battery life and device degradation, can impact patient outcomes and increase healthcare costs. Interoperability and connectivity issues also present challenges for the integration of active implanted devices into healthcare systems and electronic health records (EHRs).

Category-Wise Acumens

How Cardioverter Defibrillators helps in the growth of the Active Implanted Medical Devices Market?

You know those heart devices called implantable cardioverter defibrillators (ICDs)? They're like tiny lifesavers for people at risk of dangerous heart rhythms or sudden cardiac arrest. These devices keep a close eye on your heart's rhythm. If it goes haywire, they give it a quick zap to get it back on track. It's like having a built-in heart doctor keeping you safe. With heart problems becoming more common, more people need these ICDs. And they're getting even better. New features like dual-chamber pacing and remote monitoring help doctors adjust the devices from afar, reducing the risk of unnecessary shocks and keeping an eye on your heart health.

As more and more people are at risk of sudden cardiac death, there's a growing need for devices called cardioverter defibrillators (ICDs). These devices can save lives by shocking the heart back into a normal rhythm. Doctors are becoming more aware of the benefits of ICDs, and patients are starting to understand their importance. This is leading to a surge in demand for these devices. The market for ICDs is also expanding into new regions, like Asia-Pacific, Latin America, and the Middle East. This is because there are a lot of people in these areas who need ICDs but don't have access to them. Medical device companies are jumping at this opportunity to grow their businesses. They're investing in research and development to make better ICDs and working with local healthcare providers to get these devices to the people who need them. It's clear that ICDs are a key part of the future of healthcare. They're helping to save lives and improve the quality of life for millions of people around the world.

Which Factors are Influencing the Growth of the Market in Hospitals?

The hospital industry is expected to be the biggest user of implantable medical devices. This is because medical technology has advanced, leading to the creation of better devices that can treat people with different health conditions more effectively and as individuals. Examples of these devices are pacemakers, heart defibrillators, and devices that stimulate nerves. These devices offer ways to treat patients that weren't possible before or weren't as effective. There are more and more people with long-term diseases like heart and brain problems and chronic pain, which is why there is a growing need for these devices. These devices can help people with long-term health issues manage their conditions, improve their quality of life, and save money on healthcare because they don't need to be hospitalized or visit the doctor as often.

Look, there's a big push for less invasive procedures and outpatient care these days. And guess what? That's making people want more active implanted devices. Why? Because with fancy new surgical tricks, better materials, and teeny-tiny devices, doctors can now put these things in without making huge cuts. This means less pain, fewer problems, and shorter hospital stays. And it's not just about comfort. Hospitals are moving towards "value-based care," which means they get paid based on how well they take care of you. So, they're buying top-notch equipment and computers to make sure you get the best treatment. And active implants are a big part of that. It's like giving your body a little superpower to stay healthy. So, as hospitals keep getting more advanced and tech-savvy, you can expect to see more and more of these implants, and that's going to make the market for them grow even bigger.

Gain Access to Active Implanted Medical Devices Market Report Methodology

Country/Region-wise Acumens

Which region has the most potential for growth of the Active Implanted Medical Devices Market?

 The Asia-Pacific region is poised for significant growth in the active implanted medical devices market due to its diverse population, increasing healthcare expenditure, and technological advancements. The growing prevalence of chronic diseases and age-related conditions, such as cardiovascular disorders, neurological disorders, and diabetes, is expected to drive demand for advanced medical interventions. Governments in countries like China, India, and Japan are investing in healthcare infrastructure and improving quality, creating opportunities for active implanted device manufacturers to collaborate with healthcare providers and address unmet medical needs.

Technological advancements in the region, driven by leading medical device manufacturers, research institutions, and academic centers, are also driving the development of cutting-edge active implanted devices. The growing adoption of digital health solutions and telemedicine is also driving demand for active implanted devices that support remote monitoring, data integration, and connectivity with healthcare systems. Manufacturers offering devices with remote monitoring capabilities, interoperability, and data analytics are well-positioned to capitalize on the growing demand for connected healthcare solutions in the Asia-Pacific region.

Furthermore, the region’s diverse market landscape, including developed economies and emerging markets, presents significant opportunities for market expansion. As manufacturers expand their presence and product offerings, they can capitalize on these diverse market opportunities and contribute to improved healthcare outcomes for millions of patients. The Asia-Pacific market is expected to emerge as a key growth engine for the global active implanted medical devices market in the coming years.

Which regions dominate in the Active Implanted Medical Devices Market?

North America is estimated to hold the largest market share during the forecast period. The region has a high level of healthcare spending, a strong regulatory environment, and a sophisticated healthcare infrastructure, all of which encourage the widespread use of active implanted devices.

Furthermore, A significant number of patients in North America suffer from age-related and chronic illnesses, which is fuelling the need for cutting-edge medical treatments like pacemakers, implanted cardioverter defibrillators (ICDs), and neurostimulators. The region’s concentration of top medical device producers, research facilities, and academic institutions encourages technological innovation and product development, reinforcing North America’s leadership in the market for active implanted medical devices.

Competitive Landscape

The competitive landscape in the active implanted medical devices market is dynamic and evolving, driven by changing customer preferences, technological advancements, and market dynamics. Providers continue to innovate and differentiate their offerings to stay competitive and capture market share in this rapidly growing market.

Some of the prominent players operating in the active implanted medical devices market include

  • NeuroPace
  • Axonics
  • NEVRO CORP
  • BIOTRONIK
  • ABIOMED
  • Boston Scientific Corporation
  • Medtronic
  • Abbott
  • Eckert & Ziegler
  • Sonova Holding AG
  • Demant A/S
  • Cochlear Ltd
  • Microson S.A.U.
  • Oticon Medical A/S
  • Nano Retina
  • MED-EL Medical Electronics
  • Masimo
  • Hologic
  • Varian Medical Systems, Inc.

Latest Developments

  • In August 2022, Medtronic plc launched an investigational extravascular implantable cardioverter defibrillator (EV ICD) system, achieving a defibrillation success rate of 98.7% in a global clinical trial. With the lead positioned under the breastbone, outside the heart and veins, this innovation marks a milestone in enhancing safety and efficacy in the active medical implantable devices market
  • In February 2022, Abbott initiated patient implants for its dual-chamber leadless pacemaker system, marking a technological breakthrough in leadless pacing. This milestone, part of the AVEIR DR i2i pivotal clinical study, represents the first occurrence globally within the trial, highlighting Abbott’s advancements in active medical implantable devices and shaping future pacing technologies
  • In January 2021, Boston Scientific obtained FDA approval for its Vercise Deep Brain Stimulation System, comprising an implantable pulse generator for symptom relief. This approval marks an opportunity for the company to broaden its presence in the active medical implantable devices market, offering advanced solutions for neurological disorders and expanding its business prospects
  • In December 2020, Health Canada approved Abbott’s FreeStyle Libre 2, offering continuous glucose monitoring with customizable alarms for adults and children with diabetes. This expansion into the active medical implantable devices market allows Abbott to diversify its offerings, catering to diabetic patients’ needs and fostering growth opportunities in the future.

Report Scope

REPORT ATTRIBUTESDETAILS
STUDY PERIOD

2021-2031

Growth Rate

CAGR of ~8.22% from 2024 to 2031

Base Year for Valuation

2024

HISTORICAL PERIOD

2021-2023

Forecast Period

2024-2031

Quantitative Units

Value (USD Billion)

Report Coverage

Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis

Segments Covered
  • By Product Type
  • By End-user
  • By Grography
Regions Covered
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
Key Players

NeuroPace, Axonics, NEVRO CORP, BIOTRONIK, ABIOMED, Boston Scientific Corporation, Medtronic, Abbott, Eckert & Ziegler, Sonova Holding AG, Demant A/S, Cochlear Ltd, Microson S.A.U., Oticon Medical A/S, Nano Retina, MED-EL Medical Electronics, Masimo, Hologic, Varian Medical Systems, Inc.

Customization

Report customization along with purchase available upon request

Active Implanted Medical Devices Market, by Category

Product Type

  • Implantable Cardioverter Defibrillators
  • Ventricular Assist Devices
  • Implantable Heart Monitors
  • Implantable Cardiac Pacemakers
  • Implantable Hearing Devices
  • Neurostimulators
  • Others

End-user

  • Hospitals
  • Clinics
  • Ambulatory Surgical Centers
  • Multi-Specialty Centers

Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Research Methodology of Market Research

To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our .

Reasons to Purchase this Report

Understanding the Market's Ins and Outs We dive deep into the market, examining various factors that shape it, both economic and personal preferences. We'll give you a clear picture of how much money is flowing into different parts of the market and which areas are expected to grow the fastest. Zooming InGeographic Trends We'll show you where the product or service is being used the most and what's driving its popularity in each region. This information will help you make informed decisions about where to target your efforts. Who's Who in the Market We'll introduce you to the major players in the industry and give you an overview of their strengths and weaknesses. We'll also keep you updated on their latest moves, such as new product launches, partnerships, and acquisitions. Getting to Know the Companies We'll provide detailed profiles of the major market players, including their history, strengths, and weaknesses. This will help you understand their strategies and make informed decisions about your business. Looking AheadThe Market's Future We'll give you our expert insights into what the future holds for the industry. We'll identify growth opportunities, challenges, and trends that will impact the market in the years to come. Tools for Success To help you analyze the market effectively, we'll use industry-leading tools like Porter's Five Forces Analysis and Value Chain Analysis. These tools will provide you with a deeper understanding of the market dynamics and help you make strategic decisions. Ongoing Support After you purchase our report, you'll have access to our team of analysts for up to six months. They'll be there to answer your questions and provide additional insights to help you succeed in the market.

Customization of the Report

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Pivotal Questions Answered in the Study

Factors include the rising prevalence of chronic diseases, technological advancements, and increasing healthcare expenditure.
Examples include pacemakers, implantable cardioverter defibrillators (ICDs), neurostimulators, and drug delivery systems.
North America currently holds the largest market share in the active implanted medical devices market.
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