Active Implantable Medical Devices Market Analysis by Product, Forecast 2024

The global active implantable medical device market is growing at a significant rate, due to the mounting occurrence of cardiovascular diseases and neurological disorders, and extended applications of neurostimulators. The market has witnessed a high demand for implantable cardioverter defibrillators due to the mounting occurrence of cardiovascular diseases, development of technologically innovative devices, and escalating need for these devices in developed countries.

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The implantable hearing devices are further subdivided into passive hearing implants and active hearing implants. The neurostimulator segment is further subdivided into spinal cord stimulators, vagus nerve stimulators, deep brain stimulators, gastric electrical stimulators, and sacral nerve stimulators. The neurostimulator segment accounted for significant growth due to the mounting occurrence of chronic pain owing to pain from injury, diabetes and arthritis pain.

Mounting occurrence of cardiovascular diseases, extended applications of neurostimulators, mounting occurrence of neurological disorders, expanding geriatric population, and savings and assets to develop technologically innovative products are the primary growth drivers for active implantable medical device market.

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North America is the largest active implantable medical device market as in the region the geriatric population is increasing, and mounting growth of technologically innovative products. Asia-Pacific is observed to witness the fastest growth in the market, due to the mounting occurrence of neurological disorders and cardiovascular diseases and less strict regulations.

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 are the key players offering the active implantable medical device.

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