The global active implantable medical device market will grow at 7.1% CAGR owing to the rising incidences of cardiovascular and neurological diseases, increased investment in technologically developed products, effortless operative procedures, rising geriatric population,

The active implantable medical devices are adopted in diagnostic and therapeutic applications and they are implanted in patient's body fully or partially. The COVID-19 pandemic has had an adverse impact on the global active implantable medical device industry owing to disruption on the supply chain and hospitals prioritizing COVID-19 patients and all other treatments are canceled or postponed, resulting in slow down of the implantable medical devices market.

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Based on the product, the implantable cardioverter defibrillators segment contributes to the largest share of the active implantable medical devices market due to the rising cases of cardiovascular diseases, technologically advanced devices, and rising demand for these devices in emerging economies. The neurostimulators holds a significant share due to the rising incidences of chronic pain like neuropathic pain, pain occurring due to diabetes, arthritis, anxiety, thereby increasing the demand for neurostimulators.

North America dominates the active implantable medical devices market owing to the rising geriatric population, increasing cases of cardiovascular and neurological diseases, high obesity rates, high accessibility to developed technologies, and increasing healthcare expenditure in the region. However, Asia-Pacific is expected to witness the fastest growth during the forecast period owing to the growth in geriatric population, rising incidence of chronic diseases, rising healthcare spending, the establishment of healthcare infrastructure, growing demand for developing technologies to innovate advanced products, and less strict regulations.

Medtronic plc has developed Attain Stability Quad MRI SureScan for active fixation of left heart lead that is paired with pacemakers and defibrillators for quadripolar cardiac resynchronization therapy.

The prominent players in the active implantable medical devices industry include Abbott Laboratories, Boston Scientific Corporation, Nurotron Biotechnology Co. Ltd, Medtronic PLC, Med-EL, Biotronik Se & Co., Kg, Sonova Holding AG, Cochlear Limited, William Demant Holding A/S, and Livanova PLC.

Source: VynZ Research