Global Active Implantable Medical Devices Market to Grow at a CAGR of 8% by 2023: Rising Research & Development Activities to Drive Growth
The global active implantable medical devices market is expected to witness a CAGR of 8.0% during 2017 - 2023, and is estimated to reach $28,878.6 million by 2023.
Technological advancements, increasing prevalence of cardiovascular diseases, increasing healthcare expenditures and rising research and development activities are the major factors driving the growth of the global active implantable medical devices market. High cost of implantable medical devices and unfavorable reimbursement policies are key challenge limiting adoption of active implantable medical devices solutions.
The demand for active implantable medical devices is increasing due to increasing prevalence of cardiovascular diseases and increasing incidences of neurological disorders. Cardiovascular disease is the leading cause of premature death around the world. Implantable cardioverter defibrillators and implantable cardiac pacemakers are the key medical devices used for the treatment of different cardiovascular conditions. High prevalence of cardiovascular diseases depicts increased demand for these devices. According to the World Health Organization WHO, globally, around 17.5 million people died due to cardiovascular diseases in 2012, while the number is expected to reach 23.3 million by 2030.
Neurological disorders are characterized by dysfunctioning of the nervous system. These conditions include Parkinson's disease, Alzheimer's disease, fecal incontinence, epilepsy and depression. According to Alzheimer's Association, approximately 5.3 million people aged 65 years and older were reported to have Alzheimer's disease in 2015 in the U.S. It further reported that these numbers are expected to reach 7.1 million in 2025 and about 13.8 million in 2050. According to the Parkinson's Disease Foundation (PDF), approximately 7 million to 10 million people across the globe have Parkinson's disease. Similarly, according to PDF approximately 60,000 new cases of Parkinson's disease are reported each year in the U.S. High incidence of neurological disorders fuels the demand for neurostimulators, which further drives the global active implantable medical devices market.
Boston Scientific Corporation
Biotronik Se & Co. Kg
William Demant Holding A/S
Sonova Holding Ag
Key Topics Covered:
1. Research Background
2. Research Methodology
3. Executive Summary
5. Market Size And Forecast By Product
6. Market Size And Forecast By Geography
7. Competitive Landscape
8. Company Profiles
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