Active Implantable Medical Device: technological leap in healthcare industry
According to a new report published by Reports Monitor titled, “Active Implantable Medical Device Market by Product Type, Procedure and End-User: Global Opportunity Analysis and Industry Forecast, 2017–2025,” the active implantable medical device market was valued at XX million in 2016, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2017 to 2025.
In last decade healthcare sector has grown tremendously owing to technological advancement and increased healthcare expenditure. Active implantable medical device is any sort of active medical device which is meant to be inserted totally or partially into the human body for diagnostic or therapeutic purposes and is subjected to remain in place. AIMDs comprise broad variety of devices such a pacemakers, infusion pumps, cochlear implants and neurostimulators. As AIMDs are constructed to remain in direct contact with the body for lengthened period of time, they are subject to rigid set of standards and requirements to protect the health and safety of patients.
Increasing number of patients with cardiovascular diseases and neurological disorders and other chronic infections there is huge demand for technically enhanced active implantable medical devices drive the growth of the market. Large applicability of devices, miniaturization of devices, growing expenses on healthcare facilities, government supportive activities and rising geriatric population further stimulates the growth of the market. However, complication and danger regarding use of active implantable medical device and high cost of the technically advanced products may create obstacle in expansion of the market.
On-going development of healthcare infrastructure, high spending on healthcare facilities, goring aged population, continuous improvement and modification research on healthcare device and government supportive activities and less stringent regulations has triggered the growth of the active implantable medical device market in Asia-Pacific.
The global active implantable medical devices market is segmented on the basis of product type, procedure, end-user and region. Considering product type the market is widely distributed into implantable cardioverter defibrillators, implantable cardiac pacemakers, and ventricular assist devices, implantable cardiac monitors, neurostimulators, implantable hearing devices and cochlear implants. Implantable cardioverter defibrillators are spilt into transvenous and subcutaneous. Implantable cardiac pacemakers are divided into single-chamber and dual chamber. Depending upon procedure the market is distributed into Cardiovascular Implants, Neurological Implants, hearing implants and others. In terms of end-user the market is categorized into Hospitals, Ambulatory Surgery Centers and Specialty Clinics.
Competitive Analysis Some of the leading vendors of active implantable medical devices across the world are Medtronic Plc., Boston Scientific Corp., Cochlear Ltd., William Demant Holding, Abbott Laboratories, BIOTRONIK SE & Co. KG, LivaNova Plc., Nurotron Biotechnology Co. Ltd., Sonova Holding AG and Med-EL. Collaboration agreements and acquisitions are the major activities undertaken by the major market players to enter into the active implantable medical devices.
In January, 2017, Abbott announced that it has it has completed the acquisition of St. Jude Medical, Inc. under this agreement Abbott will develop solid and diverse product portfolio of devices, nutritionals, diagnostic, therapeutic and branded generic pharmaceuticals.
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