Market Segmentation:
- By Product Type
- Cardiac Rhythm Management Devices
- Neurostimulation Devices
- Implantable Hearing Devices
- Others (Implantable Drug Delivery Systems, Ventricular Assist Devices, etc.)
- By Technology
- Conventional
- Radiofrequency
- Rechargeable
- MRI-compatible
- Others (Bluetooth-enabled, Remote Monitoring, etc.)
- By Application
- Cardiovascular
- Neurological
- Audiology
- Ophthalmology
- Gastroenterology
- Others (Orthopedics, Oncology, etc.)
- By End-User
- Hospitals
- Ambulatory Surgical Centers
- Specialty Clinics
- Others (Home Healthcare, Research Institutes, etc.)
- By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Frequently Asked Questions
The current market size of the Active Implantable Medical Devices industry is estimated to be around USD 22.5 billion in 2023.
The key factors contributing significantly to the growth of the Active Implantable Medical Devices market include increasing prevalence of chronic diseases, growing geriatric population, technological advancements, rising healthcare expenditure, and favorable reimbursement policies.
The key factors hampering the growth of the Active Implantable Medical Devices Market include high cost of devices, regulatory hurdles, risk of device failure, cybersecurity concerns, lack of skilled professionals, and limited reimbursement in certain regions.
The leading component segment in the Active Implantable Medical Devices Market is the cardiac rhythm management devices segment, which includes pacemakers and implantable cardioverter-defibrillators (ICDs) used for treating heart rhythm disorders.
The major players operating in the Active Implantable Medical Devices Market include Medtronic, Boston Scientific, Abbott Laboratories, LivaNova, Cochlear, Zimmer Biomet, Biotronik, Demant, Sonova, and Nevro.
The Active Implantable Medical Devices Market is expected to grow at a CAGR of 9.7% from 2023 to 2030, and the market size is projected to reach USD 47.2 billion by 2030. North America is expected to lead the Active Implantable Medical Devices Market.
The key drivers of the Active Implantable Medical Devices Market include increasing prevalence of chronic diseases, growing geriatric population, technological advancements, rising healthcare expenditure, favorable reimbursement policies, and increasing awareness about advanced medical treatments.