Every year, 17.9 million people die of a cardiovascular disease (CVD), says the World Health Organization (WHO). In addition to being the real life-giving organ, the heart is also quite complex. There are so many things that could go wrong; the nodes could start sending out irregular impulses, the coronary arteries could get blocked by plaque, the heart could stop beating altogether, the valves could dysfunction, or the heart muscle (myocardium) or its inner or outer layers could swell up. This is why, the demand for a number of cardiac procedures, including those that involve placing a medical device inside the body, is increasing.
Therefore, with the rise in the prevalence of heart diseases, the active implantable medical devices market is growing across the world. Such devices are expected to stay permanently inside the human body and perform various diagnostic and therapeutic procedures. Just like cardiology, these devices also find widespread application in the neurology departments of hospitals. As per the WHO, more than one billion people suffer from some kind of neurological disorder, such as stroke, Alzheimer’s disease, Parkinson’s diseases, Huntington’s disease, multiple sclerosis, epilepsy, brain and spinal tumors, and amyotrophic lateral sclerosis (ALS).
Active implantable medical devices (AIMD) include neurostimulators, implantable cardioverter defibrillators, implantable heart monitors/insertable loop recorders, implantable cardiac pacemakers, ventricular-assist devices, and implantable hearing devices. Among these, implantable cardioverter defibrillators have been in the highest demand till now, as arrhythmias (irregular heartbeats) are quite common among cardiac patients, and several of them, especially ventricular fibrillation (v-fib), can lead to heart failure, if not treated immediately. The job of the defibrillator is to send an electric pulse to neutralize the abnormal bursts of current coming from the heart’s natural pacemaker.
Geographically, the largest active implantable medical devices market in North America. This is because its healthcare infrastructure is more developed than other parts of the world, and the medical devices here are undergoing rapid technological advancements. Additionally, the population of the elderly and prevalence of CVDs are also rising in the region, which is further helping raise the demand for AIMDs. In years to come, Asia-Pacific (APAC) is projected to witness tremendous industry growth, majorly led by developing countries, including China and India.
Therefore, with more people suffering from neurological and heart diseases, the requirement for AIMDs will also increase.
This study covers
- Major factors driving the market and their impact during the short, medium, and long terms
- Market restraints and their impact during the short, medium, and long terms
- Recent trends and evolving opportunities for the market participants
- Historical and the present size of the market segments and understand their comparative future potential
- Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
- Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
- Major players operating in the market and their service offerings
