The Global ActiveImplantable Medical Devices Market by product type (pacemaker, implantablecardioverter defibrillator, cardiac resynchronization therapy devices,neurostimulator, drug infusion pump, implantable loop recorder, cochlearimplant, and others), and region (North America, Latin America, Europe, AsiaPacific, the Middle East, and Africa) was valued at US$ 16,721.2 million in2016 and is projected to exhibit a CAGR of 5.4% over the forecast period(2017–2025).
Advancements in technology inactive implantable medical devices such as MRI compatible pacemakers andcochlear implants with smartphone connectivity are being developed by keyplayers in the market, which is expected to be a major driving factorpropelling demand for active implantable medical devices over the forecastperiod. Manufacturers are focusing on upgrading the available implantablemedical devices as well as developing new devices for various acute conditionsrelated to diseases such as cardiovascular and neurological. In 2016, MedtronicPlc. was the first company to receive the U.S. Food & Drug Administration(FDA) approval for leadless pacemaker, Micra. Micra transcatheter pacing system(TPS) is 93% smaller than conventional pacemakers and Micra is directly placedin heart for monitoring the heart rate. Furthermore, in 2016, Boston ScientificCorporation was successful in receiving approval for its EMBLEM MRIsubcutaneous implantable cardioverter defibrillator (ICD) system. Biotronikreceived approval for its leadless ICD system, which is first of its kind, inthe U.S. in July 2017. Moreover, in 2016, Medtronic plc was the first companyto receive FDA approval for magnetic resonance imaging (MRI) conditionalcardiac resynchronization therapy devices (CRT-D), and was also successful inreceiving approval from FDA for MR-Conditional Quadripolar CRT-P in May 2017.
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In 2016, St. Jude Medicallaunched its first commercial implants of dorsal root ganglion (DRG)stimulation therapy for management of chronic intractable pain in the U.S.Furthermore, Cochlear Limited launched iPhone compatible cochlear implant inJuly 2017. Abbott announced European CE mark approval for world’s firstsmartphone compatible Confirm Rx insertable cardiac monitor in October 2017.
Browse 30 Market Data Tables and56 Figures spread through 197 Pages and in-depth TOC on Active ImplantableMedical Devices Market by Product Type (pacemaker, implantable cardioverterdefibrillator, cardiac resynchronization therapy devices, neurostimulator, druginfusion pump, implantable loop recorder, cochlear implant, and others), andRegion (North America, Latin America, Europe, Asia-Pacific, the Middle East, and,Africa) - Global Forecast to 2025
Manufacturers are increasinginvestment in developing advanced implantable medical devices to monitor vitalorgans and capability of their functioning. Medtronic plc received the U.S. FDAapproval for its portfolio of Azure pacemakers with BlueSync technology inNovember 2017. This technology-enabled secure, automatic, and wireless remotemonitoring via the Medtronic CareLink Network making remote patient monitoringpossible in case of pacemakers. Furthermore, research organizations arefocusing on developing batteryless pacemakers. For instance, researchers fromRice University and Texas Heart Institute (THI) introduced a wireless, andbatteryless pacemaker that can directly be implanted into a patient’s heart, inJune 2017. Furthermore, Glenfield Hospital, U.K. is focusing on developing anew technique for fitting pacemakers in patients under HOPE-HF clinical trials,which involves placing an extra pacemaker wire into the heart to correct delaysin electrical activation. The clinical trials as a part of the His OptimizedPacing Evaluated for Heart Failure Trial (HOPE-HF) are being conductedthroughout the country.
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Key Takeaways of the Active ImplantableMedical Devices Market:
The global active implantablemedical devices market is expected to exhibit a CAGR of 5.4% over the forecastperiod (2017–2025), owing to presence of high potential markets, especially inAsia Pacific, Latin America, Middle East, and Africa. Multiple product launchesfrom leading players such as Medtronic plc. and St. Jude Medical, Inc andgrowing number of innovative start-ups in the field in these regions in recentyears is has led to development of cost-effective products, which in turn hasresulted in higher adoption rate for the technology
Strong competition in the marketspurs the demand for continuous development from supply as well as demand sideas manufacturers thrive to stay competitive in the market and customers remainon the lookout for the alternatives boosting the development rate in activeimplantable medical devices market driving growth of the global activeimplantable medical devices market
Implantable Neurostimulatorsproduct type segment is expected to show significant growth owing to increasingapplication in management of chronic pain diseases
Asia Pacific region is expectedto show significant growth owing to multiple product launches by major playerssuch as launch of Edora pacemakers by Biotronik in Japan in 2017
According to WHO, 31% (about 17.7million) of all global deaths were due to cardiovascular diseases (CVDs) andthis number is expected to grow further as aging population, which are moreprone to CVDs is growing. Growing prevalence of cardiovascular diseases, whichcan be monitored or treated by devices such as pacemakers and ICDs, is expectedto be the major factors driving growth of the global active implantable medicaldevices market over the forecast period
Major players operating in theactive implantable medical devices market include Cochlear Limited, BostonScientific Corporation, Medtronic Plc, LivaNova Plc, Abbott Laboratories,Sonova Holding AG, William Demant holding A/S, Nurotron Biotechnology Co.,Ltd., and Med-EL
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