Active Implantable Medical Devices Market and its Growth Prospect in the Near Future

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According to the study, the global active implantable medical devices market is likely to grow from $17.0 billion in 2016 to $28.9 billion by 2023. Technological advancements, increasing prevalence of cardiovascular diseases, rising healthcare expenditures and increasing research and development activities have been driving the growth of the global active implantable medical devices market. The market is further expected to gain revenue due to increasing geriatric population and incidence of neurological disorders. Development of subcutaneous implantable cardioverter defibrillators along with the increasing demand from developing nations is expected to create ample growth opportunities in the global active implantable medical devices market.
Among different types of neurostimulators, spinal cord stimulators contributed the largest revenue to the global neurostimulators market in 2016. Spinal cord stimulators market witnessed significant penetration across all geographies globally. Increasing number of failed-back surgery syndrome, refractory angina pectoris, peripheral vascular disease, and complex regional pain syndrome are the key factors leading to the increased demand for spinal cord stimulators.
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Geographically, North America has been the largest market for active implantable medical devices, with the U.S. being the larger contributor to the regional market as compared to Canada. The key factor driving the North American active implantable medical devices market are technological advancements, high healthcare expenditure, growing geriatric population, improved healthcare infrastructure and growing prevalence of cardiovascular diseases. The emerging economies in Asia-Pacific, especially China and India, are expected to grow tremendously in future, which is expected to bring the Asia-Pacific market approximately equal to the European market by 2023. Asia-Pacific presents several growth opportunities for the active implantable medical devices manufacturers due to the rapid expansion of healthcare industry in the region.


Some of the other key players in the market include Boston Scientific Corporation, BIOTRONIK SE & Co. KG, LivaNova PLC, William Demant Holding A/S, Nurotron Biotechnology Co. Ltd., Sonova Holding AG, and MED-EL.

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