ACTIVE IMPLANTABLE MEDICAL DEVICES MARKET ANALYSIS

Global active implantable medical devices market growth can be hampered by high cost of implants. Implantable devices like pacemakers, defibrillators and cochlear implants involve significant costs associated with research and development as well as manufacturing  as these require advanced technologies and stringent quality and safety standards. This makes these devices unaffordable for a large section of the population globally, especially in developing countries where the scope for these devices is immense but the affordability is quite limited. The high costs also pose pricing pressures on manufacturers. With healthcare budgets under strain worldwide, reimbursement is also a challenge for such high-priced devices. This high cost negatively impacts the market growth potential of active implantable medical devices. Device companies will need to focus on value engineering and cost optimization efforts to make these critical healthcare solutions more accessible to those people need them.

Market Opportunities: Technological advancements in implanted devices

Technological advancements in implanted devices can offer opportunity for the global active implantable medical devices market growth. Implanted medical devices are transforming healthcare by directly interfacing with the human body to treat various medical conditions. Devices such as pacemakers, implantable cardioverter defibrillators (ICDs), neurostimulators, and implantable hearing aids are continuously becoming more advanced through innovations in miniaturization, connectivity, functionality and battery life. The miniaturization of components allows for increasingly tiny and discreet devices that provide major improvements in patient comfort and mobility. Connectivity features in newer devices enable remote monitoring of patients' conditions by physicians, as well as remote adjustments to device settings to optimize therapy. These developments are driving major improvements in disease treatment and management. For instance, cochlear implants have evolved tremendously over the past decade. Newer cochlear implant sound processors can stream audio directly from Bluetooth paired sources like phones and have extended battery lives of over 20 hours between charges. This has significantly expanded access and adoption of this life-changing technology (World Health Organization, in March 2022). Neurostimulators used to treat conditions like Parkinson's disease are also becoming smarter through incorporation of sensors that can automatically adjust therapy in response to sensed patient movements and behaviors. This leads to more natural movement and greater independence for patients.