20.06.2018 Медицина и фармацевтика

Active Implantable Medical Devices Market - Market Trends, Drivers, Growth Opportunities, and Investment Opportunities

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&D 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. Moreover, the growing demand for technological advanced implantable devices is influencing the medical device manufacturing companies to invest in R&D. This has resulted in significant increase in the R&D investments to meet the growing demand for efficient and effective implantable medical devices. 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.

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The 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. Among the countries in the Asia-Pacific region, Japan held the largest share of the Asia-Pacific active implantable medical device market in 2016, mainly due to increasing healthcare expenditures and growing demand of advanced solutions and therapies for the treatment of cardiovascular diseases, chronic pain, neurological disorders and hearing loss. China was the second largest active implantable medical device market in Asia-Pacific in 2016. Aging population is a key factor, fuelling the growth of the active implantable medical device market in China.

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Some of the key players in the active implantable medical devices market include Boston Scientific Corporation, BIOTRONIK SE & Co. KG, LivaNova PLC, William Demant Holding A/S, Nurotron Biotechnology Co. Ltd., Medtronic, Inc., Covidien plc, Sonova Holding AG, and MED-EL.

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