Europe was the second largest geographic Active Implantable Medical Devices Market and will be the second highest revenue contributor throughout the forecast period. The European market is being driven by factors such as frequent product launches and increased awareness among the region’s population. Furthermore, rising chronic conditions and increased government healthcare initiatives are two major factors influencing the European active implantable medical devices market.
Active implantable medical devices are a growing field in the medical industry, with numerous product developments in cardiology, neurology, and otology. Many market participants are developing novel products to reduce the burden of cardiovascular disease, neurological disorders, and hearing disorders. For example, Boston Scientific Corporation introduced the Resonate family of implantable cardioverter defibrillator (ICD) and cardiac resynchronization therapy defibrillator (CRT-D) systems in September 2017. This device is powered by EnduraLife battery technology, which has twice the battery capacity of other devices. As a result, device longevity is increased, and heart failure is managed more effectively.
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Pacemakers, cochlear implants, ventricular assist devices, spinal cord stimulators, and other active implantable devices are used to treat cardiovascular diseases, neurological disorders, and hearing disorders. As a result, the rising prevalence of cardiovascular diseases, neurological disorders, and hearing disorders is expected to fuel market growth over the forecast period. According to the World Health Organization, cardiovascular diseases are the leading cause of death worldwide in 2017. It also stated that 17.9 million people died from cardiovascular diseases worldwide in 2016.
Implantable cardioverter defibrillators led the global active implantable medical devices market by product. Implantable cardioverter defibrillators had the highest market share of 30.9% of the active implantable medical devices market in 2017. Because of the increasing prevalence of arrhythmia, the implantable cardioverter defibrillator segment is expected to dominate the market in 2025. Atrial fibrillation (AF) is the most common type of arrhythmia seen in the general population, and it can lead to stroke, heart failure, and other heart-related complications. During the forecast period of 2018 to 2025, this segment is expected to grow at the fastest rate.
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