Lucrative opportunities in emerging markets and the development of subcutaneous implantable cardioverter defibrillators offer significant growth opportunities in this market. Increasing market consolidation and the development of innovative, easy-to-use implantable cardiovascular products with increased longevity are the major trends for this market.
The active implantable medical devices market is highly consolidated in nature where the prominent players are accounting for the major share. To expand their geographic presence and garner higher shares in this market, major players are continuously focusing on product launches; mergers and acquisitions; agreements, partnerships, and collaborations; and expansions.
The Global Active Implantable Medical Devices Market witnessed healthy growth expected to grow at a CAGR of 7.8%, to reach $ 26.75 billion
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 are the primary growth drivers for the implantable and life-sustaining devices market.
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Active Implantable Medical Devices Market segmentation:
On the basis of 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. The implantable cardioverter defibrillators segment accounted for the largest share of the implantable and life-sustaining devices market in 2016, owing to the increasing incidence of cardiovascular diseases, development of technologically advanced devices, and increasing demand for these devices in emerging countries.
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.
# Further breakdown of the Rest of Asia-Pacific market into, Australia, New Zealand, and others
# Further breakdown of the Rest of Latin America market
into Brazil, Argentina, and Mexico
The Major Players Operating in the Active Implantable Medical Devices Market:
Medtronic plc (Ireland), Abbott Laboratories (U.S.), and Boston Scientific Corporation (U.S.) held the major share of the implantable cardiovascular and neurostimulators devices market. Whereas, Cochlear Limited (Australia), MED-EL (Austria), Sonova Holding AG (Switzerland), and William Demant Holding A/S (Denmark) held the major share of the implantable hearing devices market.
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The implantable hearing devices market was dominated by four major players in 2016, together accounted for a share of around 85%. The market is led by Cochlear Limited (Australia), MED-EL (Austria), Sonova Holding AG (Switzerland), and William Demant Holding A/S (Denmark). Some of the other key players in this market are Medtronic plc (Ireland) and Nurotron Biotechnology Co. Ltd. (China).