What is Active Implantable Medical Devices?

 


Also, the company on June 29, 2020, received FDA clearance for its LUX-Dx™ Insertable Cardiac Monitor System integrated with remote programming paired with a dual-stage arrhythmia detection algorithm. 

Hence, all the above-mentioned factors are anticipated to bolster the market for active implantable medical devices during the forecasted period. 

Also, the unprecedented COVID-19 outbreak has impacted the global active implantable medical devices market during the initial phases. This is owing to the nationwide lockdown, cancelled or postponed surgeries, and patient reluctance to visit the hospitals, among others. However, due to the launch of various vaccines and mass vaccination drives across the globe the market for active implantable devices is expected to regain normalcy in the post-COVID situation. 

The high cost of the devices along with the stringent regulatory approval process of the devices are some of the factors which might impede the global active implantable medical devices market.

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Active Implantable Medical Devices Market Segment Analysis:

Active Implantable Medical Devices Market By Product Type ( Implantable Cardiovascular Devices [Implantable Cardioverter Defibrillators, Ventricular Assist Devices, Implantable Pacemakers, Implantable Cardiac Monitors/Insertable Loop Recorders], Implantable Neurostimulators [Deep Brain Stimulators, Spinal Cord Stimulators, Sacral Nerve Stimulators, Others] Hearing Implants, Others), By End-User (Hospitals, Ambulatory Surgical Centres, and Others), and By Geography (North America, Europe, Asia-Pacific, and Rest of the World). 

In the Active Implantable Medical Devices product segment, the implantable neurostimulation product segment is anticipated to hold a noteworthy market share in the forthcoming years. This is due to the exponentially growing cases of neurological disorders and nerve-associated disorders such as epilepsy, migraine, Parkinson’s Disease, and others among the population across the globe. According to the WHO stats published in the year 2019, approximately 50 million people worldwide have epilepsy, making it one of the most common neurological diseases globally. 

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Also, as per the International Parkinson and Movement Disorder Society 2020, there was about 9.4 million population suffering from Parkinson's disease, globally. Thus, the rising various neurological disorders are one of the key factors for the segmental growth of active implantable medical devices in the upcoming years. 

Furthermore, the approval of neurostimulators for extended applications apart from neurological disorders is also a potential factor for the market growth of implantable neurostimulators. For instance, in August 2020, Medtronic received approval from FDA for the InterStim Micro neurostimulator and InterStim SureScan MRI leads for the treatment of bladder and bowel control conditions. 

In addition, Axonics Modulation Technologies, Inc. in the year 2019 received FDA clearance for its Axonics Sacral Neuromodulation System intended to treat urinary retention and the symptoms of overactive bladder. Thus, all the aforementioned factors will boost the market for implantable neurostimulators segment in the active implantable medical devices market.

Source:- Active Implantable Medical Devices Market Analysis

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