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(Health-NewsWire.Net, April 15, 2020 ) The ongoing COVID-19 pandemic—and the worldwide reaction to it—has compelled companies to radically rethink their strategies and the way they operate. We salute the industry experts helping companies survive and sustain in this pandemic.
At MarketsandMarkets™, analysts are undertaking continuous efforts to provide analysis of the COVID-19 impact on the Active Implantable Medical Devices Market. We are working diligently to help companies take rapid decisions by studying:
• The impact of COVID-19 on the Active Implantable Medical Devices Market, including growth/decline in product type/use cases due to the cascaded impact of COVID-19 on the extended ecosystem of the market
• The rapid shifts in the strategies of the Top 50 companies in the Active Implantable Medical Devices Market
• The shifting short-term priorities of the top 50 companies’ clients and their client's clients
You can request an in-depth analysis detailing the impact of COVID-19 on the Active Implantable Medical Devices Market: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=102063992
According to the recent report "Active Implantable Medical Devices Market by Product (Implantable Cardioverter Defibrillators (Transvenous & Subcutaneous), Cardiac Pacemaker, Ventricular Assist Device, Neurostimulator, Implantable Hearing Devices) - Global Forecast to 2022", published by MarketsandMarkets™, is expected to grow at a CAGR of 7.8% between 2017 and 2022 to reach USD 26.75 Billion by 2022.
Browse in-depth TOC on “Active Implantable Medical Devices Market”
151 – Tables
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Growth in this market can be attributed to factors such as growth in aging population, increasing prevalence of cardiovascular and neurological diseases, investments and funds to develop technologically advanced products, expanded applications of neurostimulators, and favorable reimbursement scenario for ENT procedures in developed countries.
The global active implantable medical devices market is segmented based on product and region. Based on product, the market is segmented into implantable cardioverter defibrillators, implantable cardiac pacemakers, implantable heart monitors/insertable loop recorders, ventricular assist devices, neurostimulators, and implantable hearing devices. Based on region, the active implantable medical devices market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
In 2016, the implantable cardioverter defibrillators segment accounted for the largest share of the global active implantable medical devices market. However, the implantable hearing devices segment is expected to witness the highest growth in the next five years. The growth of the implantable hearing devices is mainly attributed to the increasing prevalence of hearing loss across the globe and growing ENT procedures due to favorable reimbursement policies in the developed countries.
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North America is the largest regional segment for the active implantable medical devices market. The large share of this regional segment can be attributed to the growth in geriatric population, increasing prevalence of cardiovascular and neurological diseases, high accessibility to advanced technologies, increasing development of innovative and technologically advanced products, and increasing healthcare expenditure in the region. However, the market in the Asia-Pacific region is expected to grow at the highest CAGR, owing to the growth in geriatric population, growing incidence of chronic diseases, rising healthcare spending, healthcare reforms for infrastructural development, growing demand for advanced technologies to develop advanced products, and less stringent regulations.
Medtronic plc (Ireland), Abbott Laboratories (U.S.), and Boston Scientific Corporation (U.S.) held the major share of the implantable cardiovascular and neurostimulators devices market. Whereas, Cochlear Limited (Australia), MED-EL (Austria), Sonova Holding AG (Switzerland), and William Demant Holding A/S (Denmark) held the major share of the implantable hearing devices market. These players will continue to dominate the market between 2017 and 2022. Other major players operating in the implantable cardiovascular and neurostimulators devices market are BIOTRONIK SE & Co. KG (Germany) and LivaNova PLC (U.K.). Nurotron Biotechnology Co. Ltd. (China) and Medtronic plc (Ireland) are the other key players in the implantable hearing devices market.
MarketsandMarkets™
Mr. Sanjay Gupta
1-888-600-6441
raviraj.tak@marketsandmarkets.com
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