Active implantable medical devices are electronic medical devices that are implanted surgically or inserted inside the human body to monitor physiological parameters or treat diseases. These devices include implantable pacemakers, implantable cardioverter-defibrillators, neurostimulators, and implantable hearing aids among others. They find wide applications in treatment of cardiovascular diseases, neurological disorders, hearing impairment and other chronic ailments. The growing prevalence of chronic diseases like cardiovascular diseases, neurological disorders and hearing loss has fueled the demand for active implantable medical devices globally.

The Global Active Implantable Medical Devices Market is estimated to be valued at US$ 26.82 Bn in 2024 and is expected to exhibit a CAGR of 7.7% over the forecast period 2023 to 2030.

Key Takeaways

Key players operating in the Active Implantable Medical Devices are Medtronic PLC, Abbott Laboratories, Boston Scientific Corporation, BIOTRONIK SE Co. KG, LivaNova, Cochlear Limited, MED-EL, Sonova Holding AG, William Demant Holding A/S, and Nurotron Biotechnology Co. Ltd. These leading players are focusing on new product launches, mergers acquisitions and geographic expansions to strengthen their market position. For instance, in 2023, Boston Scientific Corporation launched the Precision Spectra WaveWriter Alpha spinal cord stimulator in Europe and Asia Pacific regions to provide long-term pain relief.

The active implantable medical devices market provides significant growth opportunities owing to increased RD investments by device manufacturers and technological advancements. Factors such as launch of innovative product offerings, growing demand for miniaturized active implantable medical devices and adoption of active implantable medical devices in developing nations present lucrative opportunities for market players.

Geographically, the active implantable medical devices market is dominated by North America and Europe due to rising prevalence of chronic diseases and availability of advanced healthcare facilities. However, Asia Pacific is expected to witness fastest growth during the forecast period owing to growing medical needs of large geriatric population, increased healthcare spending and improving healthcare infrastructure in emerging economies like China and India.

Market Drivers
Rising geriatric population - Growth in the elderly demographic globally is a major driver as aged people usually suffer from chronic diseases requiring active implantable medical devices. For instance, nearly 70% of all implantable cardiac rhythm management procedures performed worldwide are on patients aged 65 years or older.
Technological advancements - Ongoing RD leading to development of miniaturized, long-lasting and more effective active implantable medical devices is propelling the market growth.

Market Restrains
High cost of devices - Implantable medical devices have significantly high costs making them unaffordable for many patients. This acts as a key restraint especially in low and middle-income countries.
Stringent regulatory requirements - Approval process for new active implantable medical devices is lengthy and stringent which delays product commercialization and market entry.
Segment Analysis
Implantable cardioverter defibrillators (ICDs) are the dominating sub-segment in active implantable medical devices market. ICDs are implanted into the chest or abdomen to monitor heart rhythm and treat abnormal heartbeats by delivering electric shocks. ICDs are preferred over other segment as they are being increasingly used in the treatment and management of life-threatening cardiac arrhythmias such as ventricular fibrillation and pulseless ventricular tachycardia which requires immediate defibrillation to restore normal heart rhythm. The demand for ICDs is growing owing to rising prevalence of target diseases like heart failure and arrhythmias coupled with growing number of ICD implant procedures.

Global Analysis
North America is currently the largest and dominating regional market for active implantable medical devices due to the advanced healthcare infrastructure, growing geriatric population and rising prevalence of chronic diseases like cardiovascular, neurological disorders in the region. Europe is also among the lucrative markets driven by increasing demand for technologically advanced products and growing awareness regarding treatment of neurological and cardiac disorders. However, Asia Pacific will witness highest growth during the forecast period owing to improving healthcare infrastructure, unmet medical needs of large patient population and increasing disposable incomes in emerging economies like China, India. Key players are focused on tapping opportunities prevalent in developing Asia Pacific markets through strategic collaborations with local players.