The Global Active Implantable Medical Devices Market witnessed healthy growth expected to grow at a CAGR of 7.8%, to reach $ 26.75 billion
Growth in this market can be attributed to factors such as growth in aging population, increasing the 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.
However, unfavorable healthcare reforms in the U.S., issues related to the use of implantable medical devices, and the high cost of implants may hinder the growth of this Active Implantable Medical Devices Market to a certain extent.
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Active Implantable Medical Devices Market segmentation:
· based on products
· based on regions.
Geographic Analysis
- The further breakdown of the Rest of Asia-Pacific active implantable medical devices market into, Australia, New Zealand, and others
- A further breakdown of the Rest of Latin America active implantable medical devices 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.
These players will continue to dominate the Active Implantable Medical Devices Market till 2022.
Other major players operating in the implantable cardiovascular and neurostimulators devices market are BIOTRONIK SE & Co. KG (Germany) and LivaNova PLC (U.K.). Nurotron Biotechnology Co. Ltd. (China) and Medtronic plc (Ireland) are the other key players in the implantable hearing devices market.
Geographical Detailed Analysis for Active Implantable Medical Devices Market:
North America is the largest regional segment for the market.
The large share of this regional segment can be attributed to the growth in geriatric population, increasing the prevalence of cardiovascular and neurological diseases, high accessibility to advanced technologies, increasing development of innovative and technologically advanced products, and increasing healthcare expenditure in the region.
However, the market in the Asia-Pacific region is expected to grow at the highest CAGR, owing to the growth in geriatric population, growing incidence of chronic diseases, rising healthcare spending, healthcare reforms for infrastructural development, growing demand for advanced technologies to develop advanced products, and less stringent regulations.
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