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.
Get Detailed Information @ Active Implantable Medical Devices Competitive Landscape
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.
For More Information @ Active Implantable Medical Devices Market Forecast
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.
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