Albany, NY -- (SBWIRE) -- 01/15/2018 -- Active medical devices are types of medical devices that require electric energy or any other source of power for effective functioning. These devices seldom rely on a source of energy which is directly generated by gravity or from the human body. Active implantable medical devices are active medical devices intended to be introduced totally or partially, surgically or medically into the human body by medical intervention and intended to remain in the body after the procedure.
Types of active implantable medical devices are implantable cardiac pacemakers, implantable defibrillators, implantable nerve stimulators, cochlear implants, and implanted infusion pumps. These devices are used in different health conditions and they fulfill different treatment purposes. Implantable cardiac pacemakers and implantable cardioverter defibrillators (ICDs) are generally used in arrhythmia, a disorder that affects the heart rhythm or rate. An ICD helps in monitoring heart rhythm and sends electric signals if it detects dangerous rhythm. Pacemakers aid in controlling the abnormal heart rhythm by using electric pulses for proper functioning of the heart. In case of an individual suffering from chronic pain, implantable nerve stimulators provide relief and help in pain management. Cochlear implants are medical devices that aid in the hearing process for persons who experience issues with their hearing or suffer from hearing loss. Implanted infusion pumps are miniature devices inserted under the skin for consistent and targeted medication to alleviate pain experienced by patients.
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Rising geriatric population and increasing prevalence of neurological and cardiovascular diseases are major factors driving the global active implantable medical devices market. In 2015, a report by the United Nations stated that the number of people aged 60 years and above worldwide had increased from around 607 million in 2000 to nearly 901 million in 2015. The geriatric population is expected to rise by 56%, which is nearly 1.4 billion, by 2030. It is anticipated to increase from 901 million in 2030 to about 2.1 billion by 2050. According to the World Health Organization (WHO), cardiovascular diseases (CVDs) is the major cause of deaths globally with over 17.7 million deaths caused by CVDs in 2015, which represents 31% of deaths occurring worldwide. Middle- and low-income countries are the most affected, with 75% of deaths caused by CVDs occurring in these countries. As per the WHO estimates, around 6 million deaths occur due to stroke every year across the globe. Around 47.5 million people across the world are affected by dementia and 7.7 million new cases are reported every year. Globally, the number of people with epilepsy is estimated to be more than 50 million. Rise in the number of patients with cardiovascular and neurological disorders is expected to boost the demand for devices such as implantable cardiac pacemakers, implantable defibrillators, and implantable nerve stimulators during the forecast period.
Additionally, rising investments by major players in the development of technologically advanced active implantable medical devices and favorable reimbursement scenarios in developed countries are anticipated to drive the demand for these devices in the near future. On the other hand, high costs of implants, challenges related to deployment of active implantable medical devices, and unfavorable health care reforms prevalent in the U.S. are likely to hinder the active implantable medical devices market during the forecast period. Development of novel products such as subcutaneous implantable cardioverter defibrillators and easy-to-use implantable products with enhanced shelf-life is expected to provide significant growth opportunities to the market during the forecast period.
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The global active implantable medical devices market has been segmented based on product, procedure, end-user, and region. In terms of product, the market has been classified into implantable cardiac pacemakers, implantable defibrillators, implantable nerve stimulators, cochlear implants, and implanted infusion pumps. Based on procedure, the active implantable medical devices market has been divided into cardiovascular implants, neurological Implants, hearing implants, and others. In terms of end-user, the market has been segmented into hospitals, ambulatory surgery centers, and cardiac centers.
In terms of geography, the global active implantable medical devices market has been divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounts for a leading share of the global active implantable medical devices market, due to rise in the prevalence of cardiovascular diseases and neurological disorders in the region. The market in Asia Pacific is anticipated to register the maximum growth rate during the forecast period, due to rising health care expenditure and growing geriatric population in the region.
Key players operating in the global active implantable medical devices market are Boston Scientific Corporation Limited, Abbott Laboratories (St. Jude Medical, LLC.), Medtronic Plc, BIOTRONIK SE & Co. KG, Cochlear Ltd., Zimmer Biomet, and Sonova Holding AG (Advanced Bionics).
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