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(MoneyNewsWire.Net, February 27, 2018 ) The active implantable medical devices market is expected to witness significant growth in the coming years. The growing aging population, increasing prevalence of cardiovascular and neurological diseases, investments and funds to develop technologically advanced products, expanded applications of neurostimulators, and favorable reimbursement scenario for ENT procedures in developed countries are some of the factors driving the growth of this market. The implantable and life-sustaining devices market is projected to reach USD 26.75 Billion by 2022 from 18.42 Billion in 2017, at a CAGR of 7.8% from 2017 to 2022. However, unfavorable healthcare reforms in the U.S., issues related to the use of implantable medical devices, and the high cost of implants may hinder the growth of this market to a certain extent. Lucrative opportunities in emerging markets and the development of subcutaneous implantable cardioverter defibrillators offer significant growth opportunities in this market. Increasing market consolidation and the development of innovative, easy-to-use implantable cardiovascular products with increased longevity are the major trends for this market.
Browse Market Data Tables and In-Depth TOC of the Active Implantable Medical Devices Market to 2022 @ https://www.researchcosmos.com/reports/global-active-implantable-medical-devices-market-analysis-and-forecast-to-2022-growth-opportunity/5413921
The report analyzes the market by product and region. On the basis of product, the market is segmented into implantable cardioverter defibrillators, implantable cardiac pacemakers, implantable heart monitors/insertable loop recorders, ventricular assist devices, neurostimulators, and implantable hearing devices. The implantable cardioverter defibrillators segment accounted for the largest share of the implantable and life-sustaining devices market in 2016 owing to the increasing incidence of cardiovascular diseases, development of technologically advanced devices, and increasing demand for these devices in emerging countries.
In 2016, North America dominated the active implantable medical devices market followed by Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Increasing prevalence of cardiovascular and neurological diseases, high accessibility to advanced technologies, increasing development of innovative and technologically advanced products, and increasing healthcare expenditure in the region are the major factors driving the growth of this market. On the other hand, the Asia-Pacific (APAC) region is expected to witness the highest growth rate during the forecast period. This can be mainly attributed to the growth in geriatric population, growing incidence of chronic diseases, rising healthcare spending, healthcare reforms for infrastructural development, growing demand for advanced technologies to develop advanced products, and less stringent regulations in this region.
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The active implantable medical devices market is highly consolidated in nature where the prominent players are accounting for the major share. To expand their geographic presence and garner higher shares in this market, major players are continuously focusing on product launches; mergers and acquisitions; agreements, partnerships, and collaborations; and expansions. The implantable cardiovascular devices market was dominated by three major players in 2015, together accounted for a share of around 85%. Similarly, the implantable neurostimulators devices market was led by three major players in 2015, together accounted for a share of around 95%. The implantable cardiovascular and neurostimulators devices market is led by Medtronic plc (Ireland), Abbott Laboratories (U.S.), and Boston Scientific Corporation (U.S.). Some of the other major players in this market are BIOTRONIK SE & Co. KG (Germany) and LivaNova PLC (U.K.).
The implantable hearing devices market was dominated by four major players in 2016, together accounted for a share of around 85%. The market is led by Cochlear Limited (Australia), MED-EL (Austria), Sonova Holding AG (Switzerland), and William Demant Holding A/S (Denmark). Some of the other key players in this market are Medtronic plc (Ireland) and Nurotron Biotechnology Co. Ltd. (China).
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