The global active medical implantable devices market is witnessing significant growth, driven by factors such as the increasing prevalence of chronic diseases, technological advancements, and the rising geriatric population. Active medical implantable devices are used for the treatment of various conditions such as cardiac disorders, neurological disorders, and diabetes, among others. These devices are designed to interact actively with the body's natural functions, providing therapeutic support or monitoring capabilities. Technological advancements such as miniaturization, wireless connectivity, and improved battery life have led to the development of more advanced and efficient active medical implantable devices. This has expanded their applications and increased their adoption in the healthcare sector. In addition, the growing demand for minimally invasive procedures and the rising focus on personalized medicine are driving the demand for these devices.
The Global Active Medical Implantable Devices Market, which was USD 21.11 billion in 2023, is expected to reach USD 41.14 billion by 2031, at a CAGR of 8.7% during the forecast period 2024 to 2031.
Below are the Top Five Active Medical Implantable Devices Companies with a Significant Market Share:
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Rank
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Company
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Overview
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Product Portfolio
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Sales Geographical Coverage
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Developments
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1.
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MEDTRONIC
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MEDTRONIC is a global leader in medical technology, services, and solutions. The company's mission is to alleviate pain, restore health, and extend life for patients around the world. Medtronic offers a wide range of products in the active medical implantable devices market, including cardiac pacemakers, implantable cardioverter defibrillators, neurostimulators, and spinal cord stimulators. These devices are used to treat conditions such as heart rhythm disorders, chronic pain, and neurological disorders. Medtronic is known for its innovative products, commitment to quality, and focus on patient outcomes.
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North America, Middle East and Africa, Europe, South America, Asia- Pacific
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In August 2020, Medtronic announced the acquisition of Companion Medical, a private company manufacturer of InPen. This will expand the company’s ability to serve people with diabetes better.
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2.
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ABBOTT
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ABBOTT is a diversified healthcare company that develops and manufactures a wide range of medical devices, diagnostics, and pharmaceuticals. In the active medical implantable devices market, Abbott offers products such as implantable cardioverter defibrillators, cardiac pacemakers, and neuromodulation devices. These devices are used to treat a variety of conditions, including heart rhythm disorders and chronic pain. Abbott is known for its focus on innovation, with a strong pipeline of new products in development.
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North America, Middle East and Africa, Europe, South America, Asia-Pacific
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In July 2021, Abbott announced the launch of an insertable cardiac monitor, Jot Dx, in the U.S. The device helps clinicians view abnormal heart rhythms and allows for remote detection and improved diagnostic accuracy of cardiac arrhythmia. This will help the company acquire the market further in the coming years.
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3.
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Boston Scientific Corporation
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Boston Scientific Corporation is a leading global medical technology company that develops and manufactures a broad range of medical devices. In the active medical implantable devices market, Boston Scientific offers products such as implantable cardioverter defibrillators, cardiac pacemakers, and neurostimulation devices. These devices are used to treat conditions such as heart rhythm disorders, chronic pain, and neurological disorders. Boston Scientific is known for its commitment to innovation, with a focus on developing new technologies to improve patient outcomes.
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North America, Middle East and Africa, Europe, South America, Asia-Pacific
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In January 2021, Boston Scientific announced that it had agreed to acquire Preventice Solutions, Inc. The acquisition will help the company to expand its cardiac portfolio.
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4.
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Cochlear Ltd.
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Cochlear Ltd. is a global leader in implantable hearing solutions. The company designs, manufactures, and supplies cochlear implants, bone conduction implants, and acoustic implants. These devices are used to treat hearing loss and provide patients with improved hearing capabilities. Cochlear is known for its innovative products, which are designed to deliver superior sound quality and improve the quality of life for people with hearing loss.
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North America, Middle East and Africa, Europe, South America, Asia-Pacific
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In January 2019, Cochlear Ltd announced that they are Introducing their Leading Hearing Technology to the World Stage at the Consumer Electronics Show. This will provide the company with great exposure and recognition among the people of the U.S. and has increased their sales.
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5.
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ABIOMED
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ABIOMED is a leading provider of medical devices for circulatory support. The company's flagship product, the Impella heart pump, is the world's smallest heart pump and is used to provide temporary circulatory support to patients undergoing high-risk cardiac procedures. ABIOMED is known for its innovative products, which are designed to improve patient outcomes and reduce the need for more invasive procedures.
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North America, Europe, Asia-Pacific
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In June 2021, ABIOMED announced that it had received FDA premarket approval for Impella RP with Smart Assist, a safe and effective to treat acute heart failure. This will help the company to increase its revenue.
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Conclusion
The global active medical implantable devices market is poised for significant growth driven by several key factors. The market is witnessing increasing demand due to the rising prevalence of chronic diseases, technological advancements, and the growing geriatric population. Technological innovations such as miniaturization, wireless connectivity, and improved battery life are driving the development of more advanced and efficient devices, expanding their applications and increasing their adoption in the healthcare sector. Key players in the market, including Medtronic, Abbott, Boston Scientific Corporation, Cochlear Ltd., and ABIOMED, are driving innovation and providing comprehensive imaging solutions for clinical trials. These companies offer a range of services, including imaging protocol development, image acquisition and analysis, data management, and regulatory compliance support.
