Active Implantable Medical Devices Global Market Report 2024

The active implantable medical devices market size has grown strongly in recent years. It will grow from $24.8 billion in 2023 to $26.89 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The historical growth was driven by robust economic expansion in emerging markets, heightened healthcare spending, a rise in cardiovascular disease prevalence, and an increase in healthcare facility numbers.

The active implantable medical devices market size is expected to see strong growth in the next few years. It will grow to $37.2 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The projected growth is expected due to an aging population, government backing, and the escalating burden of neurological illnesses. Anticipated trends involve the introduction of novel active implantable medical devices, collaborative ventures, the integration of wireless technologies for device charging, and the utilization of artificial intelligence (AI).

The active implantable medical devices market is poised for growth, driven by the increasing prevalence of cardiovascular diseases (CVD). Cardiovascular diseases encompass a range of conditions affecting the heart or blood vessels, often associated with factors such as atherosclerosis and an elevated risk of blood clots. Active implantable medical devices play a crucial role in regulating or monitoring irregular heartbeats in individuals with specific heart rhythm problems or heart failure. The surge in the incidence of cardiovascular diseases, notably due to the formation of fatty deposits and an increased risk of blood clots, is expected to propel the demand for active implantable medical devices. The rise in the geriatric population further contributes to this demand. According to a report published by the American College of Cardiology in August 2022, cardiovascular risk factors are projected to increase significantly from 2025 to 2060, with substantial proportional increases in diabetes, dyslipidemia, hypertension, and obesity. The anticipated growth in cardiovascular diseases, particularly in stroke and heart failure, underscores the pivotal role of active implantable medical devices in addressing these health challenges.

Government support is anticipated to play a pivotal role in driving the growth of the active implantable medical devices market. Governments are increasingly focusing on efforts to raise public awareness regarding available medical devices and equipment, influencing the overall expansion of the market. For instance, in February 2023, the UK government pledged to boost investment, with a specific focus on entities responsible for approving medical devices and ensuring their conformity with new regulatory requirements. Similarly, in June 2022, the Romanian government initiated the National Agency for Health Infrastructure Development, aiming to enhance coherence in investments related to health infrastructure. The support and initiatives from governments worldwide are expected to contribute significantly to the growth of the active implantable medical devices market.

Product innovations have emerged as a prominent and influential trend in the dynamic landscape of the active implantable medical devices market. Major companies operating within the market are strategically investing in the development of innovative products to reinforce their market positions. A notable instance of this trend is evident in the groundbreaking work by researchers from Northwestern and George Washington University, both US-based institutions, who collaboratively developed the first transitory pacemaker. This wireless, battery-free, and fully implanted pacing device represents a significant advancement, designed to disappear when no longer needed. The device, characterized by its thin, flexible, and lightweight nature, is particularly useful for patients requiring temporary pacing post-cardiac surgery or while awaiting a permanent pacemaker. Remarkably, all pacemaker components are biocompatible, and the device dissolves spontaneously into the body's biofluids over five to seven weeks without requiring surgical extraction. The utilization of near-field communication protocols allows the device to wirelessly gather energy from an external, remote antenna, eliminating the need for heavy batteries and rigid hardware such as wires or leads.

Companies in the active implantable medical devices market are actively focusing on the introduction of new medical devices to enhance their market standing. A case in point is Medtronic Private Limited India, a producer of medical devices and therapies, which, in June 2021, launched Micra AV - a groundbreaking pacemaker designed to treat atrioventricular (AV) block. This device, implanted within the heart's right ventricle through a minimally invasive procedure, is comparable in size to a large vitamin pill. Micra AV represents a significant advancement in pacemaker treatment for AV block, offering a minimally invasive alternative that enhances efficiency and effectiveness in a compact form factor. This strategic emphasis on product innovation underscores the commitment of companies to stay at the forefront of advancements in the active implantable medical devices market.

In December 2021, Integer Holdings Corporation, a US-based medical device manufacturer, acquired Oscor, Inc. to broaden its product range, including steerable sheaths, cardiac, and neurostimulation leads. This acquisition also provided Integer with increased production capacity. Oscor, Inc., also based in the US, specialized in manufacturing venous access systems, diagnostic catheters, and implantable devices.

Major companies operating in the active implantable medical devices market report are Medtronic PLC, Boston Scientific Corporation, Cochlear Limited, Abbott Laboratories, Sonova Holding AG,MED-EL Medical Electronics, Livanova PLC, Biotronik Se & Co., Kg, MicroPort Scientific Corporation, Envoy Medical Corporation, Pregna International, Johari Digital Healthcare Limited, Renalyx Health Systems, Medprime Technologies, Comofi Medtech, Dynamed Equipments, Aurolab, Unicorn Denmart Limited, Lepu Medical Technology Company, Calon Cardio, Better Medical Technology, Beijing Aeonmed Co., Ltd., BONSS MEDICAL, Koninklijke Philips N.V., Berlin Heals Holding AG, CorWave SA, Philips Healthcare, Draegerwerk AG, Getinge Group, Ceryx Medical, MEDICO s.r.l., Medical-Łomża Sp. z o.o., Panop CZ, Medplant LLC, P.H.U. Medical, ProVeterináře, Johnson & Johnson, Baxter, Stryker, Axio Biosolutions, Cirtec Medical, Masimo, Teleflex Inc., NAGL MedTech, B Braun Argentina, Braile Biomedica Ltd., Megadyne Argentina, Embramed Industria e Comercio de Produtos Hospitalares Ltd., Arabian Medical Enterprises LLC, Zahrawi Group, Al Burak Medical Services, Lodox Systems, Glenmed Healthcare Solutions (PTY) Ltd., Lepeke Medical Group, LTE Medical Solutions.

North America was the largest region in the active implantable medical devices market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the active implantable medical devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the active implantable medical devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

These devices encompass a range of products including cardiac pacemakers, implantable cardioverter defibrillators (ICDs), nerve stimulators, cochlear implants, ventricular assist devices, among others. For instance, an implantable cardioverter-defibrillator (ICD) is a small, battery-powered device inserted into the chest to detect and regulate abnormal heart rhythms. They serve diverse applications such as cardiovascular, neurological treatments, aiding hearing impairment, and are employed by various end-users including hospitals, specialized clinics, and ambulatory surgical centers.

The active implantable medical devices market research report is one of a series of new reports that provides active implantable medical devices market statistics, including active implantable medical devices industry global market size, regional shares, competitors with an active implantable medical devices market share, detailed active implantable medical devices market segments, market trends and opportunities, and any further data you may need to thrive in the active implantable medical devices industry. This active implantable medical devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The active implanted medical devices market consists of sales of active implanted medical devices with components such as battery packs, controllers, implant kits, leads, programmers, and refill kits. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.