The global Active Implantable Medical Devices Market Growth Accelerated by Remote Monitoring and Telehealth Services


 Active Implantable Medical Devices are miniature electronic devices implanted in the human body, to monitor and treat various medical conditions. Cardiac devices such as pacemakers and defibrillators help maintain normal heart rhythm and improve patient quality of life. Spinal cord and deep brain stimulators are used to manage neurological conditions like Parkinson's disease and chronic pain.

The global Active Implantable Medical Devices Market is estimated to be valued at US$ 26.8 billion in 2023 and is expected to exhibit a CAGR of 7.7% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Remote monitoring and telehealth services for active implantable medical devices is a key trend in the market. Remote monitoring enables device parameters to be transmitted wirelessly to clinics and healthcare providers. This allows patients the freedom and comfort of home monitoring, while physicians can track the device status and intervenr promptly if needed. It has become especially important during the Covid-19 pandemic to minimize hospital visits. Remote monitoring reduces healthcare costs by detecting potential issues early and preventing unnecessary office visits or re-hospitalization. leading manufacturers are focusing on integrating remote monitoring capabilities into their devices to provide better patient outcomes and drive market revenue.

Segment Analysis

The global active implantable medical devices market is dominated by cardiac rhythm management devices segment due to the high demand for pacemakers and implantable cardioverter defibrillators. Cardiac rhythm management devices help regulate abnormal heart rhythms or arrhythmias. These devices are commonly used for conditions like bradycardia, atrial fibrillation, cardiac resynchronization therapy, etc. Increasing prevalence of cardiovascular diseases is the major factor fueling the growth of this segment.

Key Takeaways

The global active implantable medical devices market is expected to witness high growth over the forecast period of 2023 to 2030. Rapid growth in geriatric population susceptible to chronic illnesses, rising healthcare expenditure, technological advancements are some of the key factors driving the market. The global Active Implantable Medical Devices Market is estimated to be valued at US$ 26.8 billion in 2023 and is expected to exhibit a CAGR of 7.7% over the forecast period 2023-2030.

Regional analysis

North America dominated the global active implantable medical devices market in 2022 attributed to growing incidences of cardiovascular diseases and presence of major device manufacturers in the region. Asia Pacific is anticipated to witness the fastest growth owing to large patient population, improving healthcare infrastructure, and increasing healthcare spending in emerging economies like India and China.

Key players

Key players operating in the active implantable medical devices market are Abbott Laboratories, Boston Scientific Corporation, Medtronic, Cochlear Ltd., LivaNova PLC, Abiomed Inc., Biotronik, MED-EL, Sonova Group.

Abbott Laboratories holds a significant share of the market due to its diverse product portfolio including cardiac rhythm management devices, implantable cardiovascular defibrillators, ventricular assist devices, etc. Boston Scientific Corporation offers an extensive range of implantable cardioverter defibrillators and cardiac resynchronization therapy defibrillators.

Comments

Post a Comment

Popular posts from this blog

Unveiling Health Secrets: Exploring the Potential of Blood-Based Biomarkers

Image
  The human body is a complex and intricate system, often harboring subtle signs of its inner workings. One of the most promising avenues for unlocking these secrets lies within our bloodstream – a treasure trove of information encoded in the form of blood-based biomarkers. These biomarkers, measurable indicators present in the blood, hold the potential to revolutionize healthcare by providing early detection, accurate diagnosis, and personalized treatment approaches. Blood-based biomarkers encompass a wide range of molecules – from proteins and nucleic acids to metabolites and even circulating cells. Researchers have been diligently working to identify specific biomarkers associated with various diseases and conditions. For instance, elevated levels of certain proteins might point to cardiovascular diseases, while specific genetic material could indicate the presence of cancer. By analyzing these biomarkers, clinicians gain valuable insights into an individual's health status, en...
Read more

Revolutionizing Biology: Advancements in Single Cell Analysis Techniques

Image
  Single cell analysis has emerged as a groundbreaking technology that is revolutionizing the field of biology. Traditionally, biological studies were conducted on populations of cells, averaging out the heterogeneity present within them. However, the advent of single cell analysis has enabled scientists to delve into the complexity of individual cells, uncovering a wealth of previously inaccessible information. Advancements in single cell analysis techniques have paved the way for a deeper understanding of cellular heterogeneity, gene expression, and cellular behavior. One of the most remarkable techniques is single-cell RNA sequencing (scRNA-seq), which allows scientists to measure gene expression in individual cells. This breakthrough has led to the identification of rare cell types, understanding of cellular communication networks, and the discovery of novel biomarkers. Moreover, single cell imaging techniques, such as single cell fluorescence microscopy, have enabled research...
Read more

Medical Robots Market Poised to Grow Owing to Improving Healthcare Infrastructure

Image
 The Medical Robots Market is anticipated to witness robust growth due to rising healthcare spending across the globe. Medical robots are used to perform minimal invasive surgeries with greater accuracy and flexibility. Growing preference for Robot-Assisted Surgery (RAS) over conventional open surgeries due to benefits such as shorter recovery time and minimum operative scars has been augmenting demand for medical robots. Key functions include guiding and positioning surgical accessories like guide tubes in radiology and guiding catheter and wires in cardiology. With rising chronic disease prevalence associated with aging populations, the need for more surgical procedures is surging which requires precise action minimally invasive robotic systems can provide. The Global Medical Robots Market is estimated to be valued at US$ 11.47 Bn in 2024 and is expected to exhibit a CAGR of 16% over the forecast period 2023 to 2030. Key Takeaways: Key players operating in the Medical Robo...
Read more