LONDON, May 03, 2023 (GLOBE NEWSWIRE) -- As per The Business Research Company’s research on the active implantable medical devices global market, the is predicted to grow from $22.9 billion in 2022 to $24.8 billion in 2023 at more than 8% CAGR. Further, the active implantable medical devices market is expected to grow to $33.65 billion in 2027 at a CAGR of more than 7%. North America held the largest active implantable medical devices market share in 2022.
An increasing number of cardiovascular diseases is driving the growth of the active implantable medical devices market. The rise in the geriatric population has also favoured the demand for these devices.
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Major active implantable medical devices companies include Abbott Laboratories, Boston Scientific Corporation, LivaNova Plc., Medtronic Plc., Sonova Holding AG and MED-EL Medical Electronics.
Product innovations are also emerging as a key trend in the global active implantable medical devices market. Major companies are developing innovative products to sustain their position in the market.
For instance, researchers from Northwestern and George Washington University developed the first transitory pacemaker - a wireless, battery-free, totally implanted pacing device that vanishes when no longer required. The biocompatible device wirelessly gathers energy from an external, remote antenna. In addition, Integer Holdings Corporation acquired Oscor, Inc., a US-based medical device manufacturing company that offers venous access systems, diagnostic catheters, and implantable devices.
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The global active implantable medical devices industry is segmented -
1) By Product: Cardiac Pacemakers, Implantable Cardioverter Defibrillators (Icd), Nerve Simulators, Cochlear Implants, Ventricular Assist Devices
2) By Application: Cardiovascular, Neurological, Hearing Impairment, Other Applications
3) By End-User: Hospitals, Speciality Clinics, Ambulatory Surgical Centres
The future of the active implantable medical devices market looks promising, with increasing investments in research and development, technological advancements, and rising healthcare expenditure. The active implantable medical devices market report provides insights into the current scenario and future prospects of the global active implantable medical devices market, helping players form well-informed startegies.
Active Implantable Medical Devices Global Global Market Report 2023 by The Business Research Company provides insights on the active implantable medical devices global market size, active implantable medical devices global market segments, active implantable medical devices global market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
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