Active Implantable Medical Devices (AIMD) is an active medical device intended to be introduced into the human body, either completely or partially, or through any medical intervention surgically or medically into a natural orifice and is intended to remain after the completion of the procedure. Some of the AIMD devices include implantable cardiac pacemakers, implantable defibrillators and cochlear implants.
The global active implantable medical devices market was USD 20.62 billion in 2018 and is estimated to reach USD 33.02 billion by 2025 at a CAGR of 6.96% during the forecast period.
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Growth by Region
North America holds the largest market share with a share of more than 33% in 2018 owing to the technological advancements in developing new active implantable devices. Europe, on the other hand, stands at the second spot with a share of 28.4% due to frequent product launches and is expected to remain the same during the forecast period. However, Asia-Pacific region is anticipated to remain as the most promising growth opportunities to market players in the mere future due to the steady rise in Asian economies like countries such as China, India and South Korea and also due to the rise in investments by AIMD manufacturers.
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Drivers vs Constraints
The market is mainly driven by growing ageing population; rising prevalence of cardiovascular and neurological devices, huge investments and funds in order to develop technologically advanced products as well as favorable reimbursement scenario for ENT procedures especially in developed countries are driving the growth of the market. However, the global active implantable medical devices market is curbed by regulatory hurdles in developed countries such as the U.S., rising of other emerging markets as well as a shortage of skilled professionals globally are expected to restrain the growth of AIMD market globally.
Industry Trends and Updates
Boston Scientific Corporation has announced investment and acquisition option agreement with Millipede, Inc. and has purchased a portion of its outstanding shares for a total consideration of USD 90 million for the treatment of severe mitral regurgitation (MR) with the help of IRIS Transcatheter Annuloplasty Ring System developed by the company.
MED-EL USA has announced that U.S Food and Drug Administration has granted the company with the clearance for its new Bonebridge bone conduction hearing implant system and is widely considered as a breakthrough in bone conduction technology.
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This post was originally published on Space Market Research