Global Active Implantable Medical Devices Market is projected to hold a value of over USD 26.78 billion in 2021
The global Active Implantable Medical Devices
market is anticipated to grow at a 7.76% CAGR from 2016 to 2021 and it is
estimated that the global market was valued at USD 18.43 billion in 2016 and is
expected to reach USD 26.78 billion by 2021.
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The Active Implantable Medical Device (AIMD)
Directive 90/385/EEC defines an active implantable medical device as "any
active medical device which is intended to be totally or partially introduced,
surgically or medically, into the human body or by medical intervention into a
natural orifice, and which is intended to remain after the procedure". As
one of the highest risk categories of device, they are subject to severe
regulatory controls both pre- and post-market. The regulatory controls set out
in the AIMD Directive also apply to any accessories that are used to enable the
device to operate as intended, for examples leads, programmers, controllers,
battery packs, software applications, implant kits and refill kits.
The demand for active implantable medical
devices is rising due to increase in the prevalence of cardiovascular diseases
and increase in the incidences of neurological disorders. Cardiovascular disease
is the leading cause of premature death around the world. Implantable
cardioverter defibrillators and implantable cardiac pacemakers are the main
medical devices used for the treatment of different cardiovascular conditions.
High prevalence of cardiovascular diseases depicts an increase in the demand
for these devices. According to the World Health Organization WHO, globally,
around 17.5 million people died due to cardiovascular diseases in 2012, while
the number is anticipated to reach 23.3 million by 2030. Factors such as
advancement in technological, increase in the prevalence of cardiovascular
diseases, rise in the healthcare expenditures by patients and increase in the
research and development activities are the major factors driving the growth of
the global active implantable medical devices market. However, the high cost of
implantable medical devices and unfavorable reimbursement guidelines pose
crucial challenge thereby limiting the adoption of active implantable medical
devices solutions.
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The global market for Active Implantable
Medical Devices market is segmented into Product and Region. On the basis of
Product, it is segmented into Implantable Cardioverter Defibrillators
(Transvenous & Subcutaneous), Cardiac Pacemaker, Ventricular Assist Device,
Neurostimulator and Implantable Hearing Devices. Cardioverter defibrillators
held the largest share in the active implantable medical devices market in
2016, due to the increase in the prevalence of cardiovascular diseases and high
compliance for technologically advanced products. Transvenous implantable
cardioverter desfibrillator which is further segmented into biventricular
implantable cardioverter defibrillators, dual-chamber implantable cardioverter
defibrillators. Single-chamber implantable cardioverter defibrillators held the
largest share in this market segment followed by subcutaneous implantable
cardioverter defibrillators. The neurostimulators market is anticipated to
witness the highest growth rate during the forecast period. The demand for
neurostimulators, especially deep brain stimulators is growing significantly
across the globe. An increase in the prevalence of chronic pain, such as
neuropathic pain, pain due to diabetes, arthritis pain and pain from injury has
increased the demand for neurostimulators significantly.
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On the basis of geography, the market is
analyzed under various regions namely North America, Europe, Asia-Pacific and
Middle East and Africa. North America held the largest share in the regional
segment of the market. The large share of this regional segment can be
attributed to the growth in geriatric population, increase in the prevalence of
cardiovascular and neurological diseases, high accessibility to advanced
technologies, increase in the development of innovative and technologically
advanced products, and increase in the healthcare expenditure in the region.
However, the market in the Asia-Pacific region is expected to grow at the
highest CAGR, due to the rise in geriatric population, growth in the occurrence
of chronic diseases, rise in healthcare spending, healthcare reforms for
infrastructural development, growth in the demand for advanced technologies to
develop advanced products, and less strict regulations.
Some of the key players dominating the active
implantable medical devices market include Medtronic plc, Abbott Laboratories,
Boston Scientific Corporation, BIOTRONIK SE & Co. KG, LivaNova PLC.,
Cochlear Limited, MED-EL, Sonova Holding AG, William Demant Holding A/S and
Nurotron Biotechnology Co. Ltd.
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