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Active Implantable Medical Devices Market Projected to Reach USD 39,026.9 Million by 2028

The Active Implantable Medical Devices Market will grow in the future by industry size, growth, share, and the forecast says the Insight Partners

NEW YORK, UNITED STATES, March 6, 2023 /EINPresswire.com/ -- According to a new market research study titled ‘Active Implantable Medical Devices Market to 2025 – Global Analysis and Forecasts by Product and End User, the global active implantable medical devices market is expected to reach US$ 39,026.9 Mn in 2025 from US$ 22,096.9 Mn in 2017. The market is estimated to grow with a CAGR of 7.9% from 2018-2025. The report highlights the trends prevalent in the global active implantable medical devices market and the factors driving the market along with those that act as deterrents to its growth. The market is expected to grow due to the increasing prevalence of cardiovascular diseases, neurological disorders & hearing disorders, increasing technological advancements & new product launches and large pool of geriatric population are the major factors that anticipated to propel the growth for the active implantable medical devices market in the forecast period. However, the high cost of products and procedures and high rate of product recalls are expected to act as a major challenges hindering the market growth in the forecast period.

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Global active implantable medical devices market segmented into by product and end user. Based on product, the market is segmented into implantable cardioverter defibrillators, implantable cardiac pacemakers, neurostimulators, implantable hearing devices, ventricular assist devices and implantable heart monitors/insertable loop recorders. The implantable cardioverter defibrillators segment is further bifurcated into transvenous implantable cardioverter defibrillators and subcutaneous implantable cardioverter defibrillators. On the basis of end user, the active implantable medical devices market classified as hospitals, ambulatory surgery centers and specialty clinics. In developed and maturing markets, major active implantable device manufacturers are seeking for market growth by developing novel products. The growing demand for high quality healthcare services and products poses a need for rapid product innovations. Hence, over the years, companies are developing new products in order to meet the rising healthcare needs.

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For instance, in May 2018, LivaNova initiated a clinical study of its Vitaria neuromodulation implant for treating heart failure. The System includes an implantable pulse generator, vagus nerve lead, programming system and patient kit that delivers autonomic regulation therapy that promotes improvements in heart function. Moreover, in May 2018, Medtronic announced a clinical study for its newly developed Micra Transcatheter Pacing System with a novel mechanical sensor. The mechanical sensor allow patients to benefit from a miniaturized leadless pacemaker. Such advances and increasing applications of active implantable medical devices is expected to fuel the future growth of this market.

Global active implantable medical devices market, based on the product segmented into implantable cardioverter defibrillators, implantable cardiac pacemakers, neurostimulators, implantable hearing devices, ventricular assist devices and implantable heart monitors/insertable loop recorders. In 2017, the implantable cardioverter defibrillators segment held the largest share of the market, by product. However, the implantable hearing devices also expected to grow at the fastest rate during the forecast period.

The report segments the global active implantable medical devices market as follows:

Global Active Implantable Medical Devices Market – By Product
Implantable Cardioverter Defibrillators
Transvenous Implantable Cardioverter Defibrillators
Subcutaneous Implantable Cardioverter Defibrillators
Implantable Cardiac Pacemakers
Ventricular Assist Devices
Implantable Heart Monitors/Insertable Loop Recorders
Neurostimulators
Implantable Hearing Devices

Global Active Implantable Medical Devices Market – By End User
Hospitals
Ambulatory Surgery Centers
Specialty Clinics

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About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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The Insight Partners
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