According to a new report published by KD Market Insights, titled, “Active Implantable Medical Devices Market Insights, Trends, Opportunity Forecast, 2023–2032,” the global active implantable medical devices market size is anticipated to witness moderate growth during the forecast period i.e., 2023-2032. The increasing prevalence of chronic diseases such as cardiovascular diseases and neurological disorders, minimally invasive surgical operation is becoming increasingly popular, the expanding healthcare infrastructure and increasing healthcare expenditure in developing regions, the advent of smart technology integration in active implantable medical devices which are the major factors augmenting the growth of the global active implantable medical devices market. The global active implantable medical devices market is anticipated to grow at a moderate CAGR of 7.2% from 2023 to 2032. The market's revenue surged to $26.7 billion in 2022, and it is expected to further accelerate, reaching a notable $53.6 billion by 2032.
The growing occurrence of chronic illnesses, including cardiovascular diseases and neurological problems, are further expected to create ample growth opportunities for the global active implantable medical devices market during the forecast period i.e., 2023-2032. Moreover, the developing geriatric population and sedentary lifestyle additionally make contributions to neurological disorders, has propelled market expansion. Minimally invasive surgical operation is becoming increasingly popular due to its many benefits over conventional surgical strategies, is expected to contribute towards the market growth during the period.
The North America region accounted for the largest share in the global active implantable medical devices market in 2022. The region is further projected to continue dominating in the market during the forecast period. This can be attributed to the emphasis on healthcare infrastructure, technological advancements in medical devices and growing prevalence of chronic diseases.
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According to product type, the implantable cardioverter defibrillator (ICD) segment accounted for the largest market share in the active implantable medical devices market in 2022 and is further expected to continue with the trend during the forecast period i.e., 2023 – 2032.
The global active implantable medical devices market is segmented into product type, end-users and region. Based on product type, the market is bifurcated into implantable cardioverter defibrillators (transvenous subcutaneous), cardiac pacemaker, ventricular assist device, implantable heart monitors, neurostimulator, implantable hearing devices. Based on end-users, it is classified into hospitals, clinics, ambulatory surgical centers, others.
The global active implantable medical devices market is analyzed across North America (U.S. Canada), Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Indonesia, Thailand, Australia, New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of Latin America) and Middle East Africa (GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, and Rest of Middle East Africa).
Key Insights of Active Implantable Medical Devices Market
- On the basis of product type, the implantable cardioverter defibrillator (ICD) segment accounted for the largest market share in the active implantable medical devices market in 2022 and is further expected to continue with the trend during the forecast period i.e., 2023 – 2032.
- On the basis of region, North America accounted for the largest share in the global active implantable medical devices market in 2022. The region is further projected to continue dominating in the market during the forecast period.
- On the basis of region, Europe is estimated to account for the second largest share in the market during the forecast period.
Some of the major active implantable medical devices’ companies profiled in the report include Abbott Laboratories, Boston Scientific Corporation, Medtronic plc, Johnson Johnson, C. R. Bard, Inc., Globus Medical, Inc., LivaNova PLC, CONMED Corporation, Biotronik SE and Co. KG, Cardinal Health, Inc., Integra LifeSciences Holdings Corporation, Cochlear Limited, MED-EL, Sonova Holding AG, William Demant Holding A/S, and Nurotron Biotechnology Co. Ltd.
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