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As many stakeholders argue that certain features of medicine safety evaluation must be applied to medical devices, including active implantable device, the manufacturers of active implantable device are under immense pressure to constantly alter devices to comply with the rapidly changing regulations on medical devices. Furthermore, due to active implantable devices’ extended lifecycle and prolonged contact with patients, they are subject to the most stern standards and regulations.
However, factors, such as the growing number of health related issues, hefty healthcare investments and increasing favorable reimbursement plans by medical associations and government point towards positive growth in active implantable device market.
Active implantable devices are medical devices that are partially or fully introduced, surgically or medically, inside a human body and remains inside after the procedure. Active implantable devices fall under one of the highest risk categories of devices and are therefore, subject to stringent government regulations before they are allowed entry into the global market. The regulatory parameters also apply to the accessories that are used along with the active implantable devices. The digital age is offering explosive growth opportunities for medical devices and changing the nature of health care delivery. Wireless technologies which include active implantable medical devices are built to control and monitor bodily functions and measure an array of psychological parameters. These devices, based on various applications, are able to control heart rhythm, monitor hypertension and cranial pressure, can operate as sensors and provide electrical stimulation for nerves.
Active Implantable Device Market: Drivers and Restraints
Primary factors driving the active implantable device market are increasing number of cardiovascular and neurological diseases, growth in aging population, expanded applications, higher accessibility to advanced technologies, increasing development of advanced products with better technology and increasing healthcare expenditure and favorable reimbursement scenarios in various regions. However, increasing pricing pressure by the players who dominate the market pose a great challenge to the growth of the other competitors in this market. Stringent regulations related to active implantable devices in certain regions and high cost of implants along with an unfavorable reimbursement scenario in some regions are some of the factors which might hinder the growth of the active implantable device market.
Active Implantable Device Market: Segmentation
Tentatively, the global active implantable device market has been segmented on the basis of product type and geography.
Based on product type, the global active implantable device market is segmented into:
- Implantable Cardiac Pacemakers
- Implantable hearing devices
- Implantable heart monitors
- Implantable loop recorders
- Ventricular assist devices
- Deep Brain Stimulators
- Sacral Nerve Stimulators
- Gastric Electric Stimulators
- Vagus Electrical Stimulators
- Spinal Cord Stimulators
Active Implantable Device Market: Overview
The global market for active implantable devices is highly consolidated with very few players operating in the global space. To expand their geographic presence and garner higher share in the market, the major players are focusing on mergers and acquisitions, partnerships, agreements, collaborations and expansions. The market is dominated, globally, by four major players who account for more than 75% of the market share. Some of the established brands of active implantable devices are Cochlear Limited (Australia), MED-EL (Austria), Sonova Holding AG (Switzerland), and William Demant Holding A/S (Denmark), Medtronic plc (Ireland) and Nurotron Biotechnology Co. Ltd. (China).
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Active Implantable Device Market: Key Players
Some of the major players in the global active implantable device market are Medtronic plc (Ireland), Abbott Laboratories (U.S.), Boston Scientific Corporation (U.S.), BIOTRONIK SE & Co. KG (Germany), and LivaNova PLC (U.K.). Whereas, Cochlear Limited (Australia), MED-EL (Austria), Sonova Holding AG (Switzerland), William Demant Holding A/S (Denmark) and Nurotron Biotechnology Co., Ltd. (China).
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Active Implantable Device Market: Regional Wise Outlook
Geographically, the global Active Implantable Device Market is classified into 8 regions: North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan, China and Middle East & Africa. North America is expected to be the leader in the global echogenic catheters market owing to high concentration of key market players in the region. The market in Asia Pacific is expected to witness high growth rate due to the expansion of product offerings by key players during the forecast period. Europe is expected to hold the second largest share in the global active implantable device market throughout the forecast period.
The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Western Europe (Germany, Italy, U.K, Spain, France, Nordic countries, BENELUX)
- Eastern Europe (Russia, Poland, Rest Of Eastern Europe)
- Asia Pacific (India, Australia & New Zealand)
- Middle East and Africa (GCC, S. Africa, Rest Of MEA)
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