Innovations in Active Implantable Technology to Spearhead Growth
The present era is incredibly momentous for the growth of the active implantable device market. Innovations in this arena have been particularly ground-breaking with active implantable devices being used for timely delivery of medication, electrical stimulation, hearing and dental prosthesis. The newer technologies are incorporating orthopedic implants for distraction osteogenesis and new and improved sensor technology to measure intracranial pressure, bladder pressure and monitor blood sugar levels. Newer devices are boosting capabilities of implantable technology and propelling the active implantable device to newer heights.
For instance, massive headway is being made by Neuroprosthetics as active implantable devices. Being utilized in a wide variety of applications, they are used to record and stimulate the neuro system, enhance optical communication with both the implant and the computer unit that record brain signals and evaluate these signals in real time. Another innovation is the use of biodegradable magnesium implants with a unique fibrous structure used for bone grafting. These implants give structural protection to the bone and disappear once the bone is healed. These are some of the most significant commercial applications of active implantable devices. This being said, active implantable devices are also an innately risky and a tricky technology requiring high regulatory approval which adds a huge burden on R&D initiatives. Utmost care towards patient safety, reliability and biological compatibility with other technologies must be prioritized for future growth.
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Medical devices play a significant role in healthcare worldwide, and the recent safety issues around medical devices, such as active implantable devices, have highlighted the need for enhanced pre-market and post-market evaluation.
As active implantable devices are meant for internal use, have complex functionality, and are relatively small in size, this medical device is among the hardest ones to manufacture. Moreover, active implantable device is a medical device that comes into direct contact with the patients, thereby, it has to meet the most stringent standards of all. Manufacturers of active implantable devices have been on incorporating the advancing technology in their manufacturing processes to be able to manufacture components that comply with the stringent parameters.
As many stakeholders argue that certain features of medicine safety evaluation must be applied to medical devices, including active implantable device, the manufacturers of active implantable device are under immense pressure to constantly alter devices to comply with the rapidly changing regulations on medical devices. Furthermore, due to active implantable devices’ extended lifecycle and prolonged contact with patients, they are subject to the most stern standards and regulations.
However, factors, such as the growing number of health related issues, hefty healthcare investments and increasing favorable reimbursement plans by medical associations and government point towards positive growth in active implantable device market.
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Active implantable devices are medical devices that are partially or fully introduced, surgically or medically, inside a human body and remains inside after the procedure. Active implantable devices fall under one of the highest risk categories of devices and are therefore, subject to stringent government regulations before they are allowed entry into the global market. The regulatory parameters also apply to the accessories that are used along with the active implantable devices. The digital age is offering explosive growth opportunities for medical devices and changing the nature of health care delivery. Wireless technologies which include active implantable medical devices are built to control and monitor bodily functions and measure an array of psychological parameters. These devices, based on various applications, are able to control heart rhythm, monitor hypertension and cranial pressure, can operate as sensors and provide electrical stimulation for nerves.
Active Implantable Device Market: Drivers and Restraints
Primary factors driving the active implantable device market are increasing number of cardiovascular and neurological diseases, growth in aging population, expanded applications, higher accessibility to advanced technologies, increasing development of advanced products with better technology and increasing healthcare expenditure and favorable reimbursement scenarios in various regions. However, increasing pricing pressure by the players who dominate the market pose a great challenge to the growth of the other competitors in this market. Stringent regulations related to active implantable devices in certain regions and high cost of implants along with an unfavorable reimbursement scenario in some regions are some of the factors which might hinder the growth of the active implantable device market.
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Active Implantable Device Market: Segmentation
Tentatively, the global active implantable device market has been segmented on the basis of product type and geography.
Based on product type, the global active implantable device market is segmented into:
Implantable Cardiac Pacemakers
Implantable hearing devices
Implantable heart monitors
Implantable loop recorders
Ventricular assist devices
Deep Brain Stimulators
Sacral Nerve Stimulators
Gastric Electric Stimulators
Vagus Electrical Stimulators
Spinal Cord Stimulators
Implantable Cardioverter Defibrillators
Transvenous Implantable Cardiverter Defibrillator
Biventricular Implantable Cardioverter Defibrillator
Dual-Chamber Implantable Cardioverter Defibrillator
Single-Chamber Implantable Cardioverter Defibrillator
Subcutaneous Implantable Cardiverter Defibrillators
Based on geography, the global active implantable device market is segmented into:
Middle East & Africa
Active Implantable Device Market: Overview
The global market for active implantable devices is highly consolidated with very few players operating in the global space. To expand their geographic presence and garner higher share in the market, the major players are focusing on mergers and acquisitions, partnerships, agreements, collaborations and expansions. The market is dominated, globally, by four major players who account for more than 75% of the market share. Some of the established brands of active implantable devices are Cochlear Limited (Australia), MED-EL (Austria), Sonova Holding AG (Switzerland), and William Demant Holding A/S (Denmark), Medtronic plc (Ireland) and Nurotron Biotechnology Co. Ltd. (China).
Active Implantable Device Market: Regional Wise Outlook
Geographically, the global Active Implantable Device Market is classified into 8 regions: North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan, China and Middle East & Africa. North America is expected to be the leader in the global echogenic catheters market owing to high concentration of key market players in the region. The market in Asia Pacific is expected to witness high growth rate due to the expansion of product offerings by key players during the forecast period. Europe is expected to hold the second largest share in the global active implantable device market throughout the forecast period.
Active Implantable Device Market: Key Players
Some of the major players in the global active implantable device market are Medtronic plc (Ireland), Abbott Laboratories (U.S.), Boston Scientific Corporation (U.S.), BIOTRONIK SE & Co. KG (Germany), and LivaNova PLC (U.K.). Whereas, Cochlear Limited (Australia), MED-EL (Austria), Sonova Holding AG (Switzerland), William Demant Holding A/S (Denmark) and Nurotron Biotechnology Co., Ltd. (China).
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Active Implantable Device Market Prophesied to Grow at a Faster Pace by 2028
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