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Active Implantable Medical Devices Market is Expanding at a CAGR of 4.40% Between 2017 and 2025

Active Implantable Medical Devices Market

, 14 June 2018 -- Active implantable medical devices is likely to present an opportunity worth US$20.73 bn by 2025, expanding at a CAGR of 4.40% between 2017 and 2025.

A number of leading players in the global active implantable medical devices are investing extensively in the research and development of their new implants, finds a new research report by Transparency Market Research (TMR). These players are also involving into partnerships with hospitals and dermatologists to increase the sales of their products. Boston Scientific Corp., Abbott Laboratories, Medtronic Plc, Sonova Holding AG, LivaNova Plc, BIOTRONIK SE & Co. KG, Cochlear Ltd., William Demant Holding A/S, Nurotron Biotechnology Co. Ltd., and MED-EL Medical Electronics are some of the leading players in the global market for active implantable medical devices. These players are expected to use innovative strategies to widen their product portfolio in order to improve their market position over the next few years, states the research report.

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According to the research report, the opportunity in the global active implantable medical devices market is likely to expand at a CAGR of 4.40% over the period from 2017 to 2025 and reach a value of US$20.73 bn by the end of the forecast period. Implantable cardioverter defibrillators (ICDs) are registering a relatively greater demand and are anticipated to continue doing so over the forthcoming years.

Hospitals, ambulatory surgery centers (ASCs), and specialty clinics have surfaced as the key end users of active implantable medical devices across the world. Hospitals, among these, are expected to report a higher uptake of these device in the years to come. In terms of the region, North America led the global market in 2016 with a share of 33.5%. Researchers project the scenario to remain more or less the same over the forthcoming years, notes the market study.

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“The increasing prevalence of cardiovascular and neurological disorders among people across the world is the main factor that has been influencing the growth of the global market for active implantable medical devices,” says the author of this research study. Apart from this, the market’s growth is also influenced by frequent product approvals and continual product launches. Companies are introducing innovative and novel products so as to maintain competitive advantage, carve new markets and lay foundation for sustained business growth, states the research report.

On the flip side, challenges related to the usage of active implantable medical devices, such as device failure and concerns related to cybersecurity, may hamper the growth of the worldwide market for active implantable medical devices in the years to come. However, the rising healthcare expenditure associated with the increasing number of patients with cardiovascular diseases (CVDs) and neurological disorders is likely to fuel the demand for active implantable medical devices, supporting the growth of this market over the next few years, reports the market study.

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About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.

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Submitted by hawer on Thursday, 14 June 2018 at 4:20 PM
Category: Health Care & Medical
 
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