Active Implantable Devices Market

Market Snapshot

Market Synopsis:

Global Active Implantable Devices Market valued at USD 24.89 Billion in 2021 and is projected to reach a value of USD 38.41 Billion by 2028 at a CAGR of 7.5% over the forecast period.

The implantable devices market is witnessing significant growth during the forecast period owing to the increasing incidences of cardiovascular and neurological diseases, expanded applications of neurostimulators, and fortunate reimbursement scenario for ENT procedures in the emerging countries. The raising investments and funds to develop the technologically advanced products is also an important factor for the growth of the Active Implantable Devices market during the forecast period. The increased awareness and the upsurge in the applications of neurostimulators are further expected to contribute to the growth of Active Implantable Devices market in the coming years. Furthermore, the favorable reimbursement scenario for the ENT procedures in developed countries is projected to fuel the growth of the Active Implantable Devices market during the forecast period. However, the unfavorable healthcare modifications in the United States associated with the use of implantable medical devices, and the increased cost of implants is likely to hamper the growth of Active Implantable Devices market to a certain level during the forecast period. Whereas, increasing adoption of Active Implantable Devices in the emerging markets and the growth of subcutaneous implantable cardioverter defibrillators (S-ICD’s) are expected to provide growth opportunities for the growth of the market in coming years.

Market Segmentation:

The Hospital End User is Projected to Dominate the Market During the Forecast Period

Based on end-user, the hospital segment is expected to dominate the Active Implantable Devices market during the forecast period. The growth of hospital segment is due to the presence of large patient pool in the hospital owing to the cardiovascular and neurological diseases, and increasing geriatric population globally. The growth in innovative technologies in the hospitals is also expected to fuel the growth of the hospital segment in the Active Implantable Devices market in the coming years.

North America Region Accounted for the Largest Share of the Global Active Implantable Devices Market

North America acquired the largest share of the Active Implantable Devices market in 2021. The growth of the North America is mainly attributed to the increasing in the geriatric population, increasing occurrence of cardiovascular and neurological diseases, and increase in the healthcare expenditure in the North America region. Moreover, the development of new products and the various innovations are predicted to fast-track the growth of the North America market in the coming years. The major players in the market are expected to concentrate on research and development activity in order to enhance their position in the Active Implantable Devices market in the coming years.

Asia Pacific is accounted to mention the fastest growth in the Active Implantable Devices market during the forecast period. The growth in the Asia-Pacific region can be mainly attributed to the increase in geriatric population, healthcare reforms for infrastructural development, growing frequency of chronic diseases, rising healthcare spending, rising demand for innovative technologies to develop innovative products, and minimum strict regulations.

Competitive Landscape:

The key major players in the market are projected to focus on the research and development activity to enhance their market position in the Active Implantable Devices market in coming years. The key players in the global Active Implantable Devices market are making prominent efforts to launch new cost-effective products in order to generate opportunities in developing economies. some of the key-players in the market are Sonova Holding AG, Medtronic, Abbott, Lifetech Scientific, Boston Scientific Corporation, Cochlear Ltd., MED-EL, Biotronik SE & CO. KG, LivaNova PLC, Advanced Bionics AG.

Active Implantable Devices Market is Segmented as Follows:

Active Implantable Devices Market is Tabulated as Follows: