The Europe Active Implantable Medical Devices market is anticipated to grow at a 7.86% CAGR from 2016 to 2021 and it is estimated that the Europe market was valued at USD 4.42 billion in 2016 and is expected to reach USD 6.46 billion by 2021.
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Directive 90/385/EEC defines an active implantable medical device as "any active medical device which is intended to be totally or partially introduced, surgically or medically, into the human body or by medical intervention into a natural orifice, and which is intended to remain after the procedure". As one of the highest risk categories of device, they are subject to severe regulatory controls both pre- and post-market. The regulatory controls set out in the AIMD Directive also apply to any accessories that are used to enable the device to operate as intended, for examples leads, programmers, controllers, battery packs, software applications, implant kits and refill kits.
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The healthcare industry in emerging economies has witnessed significant growth over the past few years. The healthcare market size in the emerging economies is still a fraction of that in developed countries such Germany, U.K. and France. The demand for active Implantable Medical Devices is increasing due to increasing prevalence of cardiovascular diseases and increasing incidences of neurological disorders. Cardiovascular disease is the leading cause of premature death around the world. Implantable cardioverter defibrillators and implantable cardiac pacemakers are the key medical devices used for the treatment of different cardiovascular conditions. High prevalence of cardiovascular diseases depicts increased demand for these devices.
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On the basis of geography, the market is analyzed under various regions namely Germany, France, U.K., Spain and Italy. Europe held the second largest share in the regional segment of the market. This can be credited to the growth in geriatric population, increase in the prevalence of cardiovascular and neurological diseases, high accessibility to advanced technologies, increase in the development of innovative and technologically advanced products, and increase in the healthcare expenditure in the region.
The key players dominating the market are Medtronic plc, Abbott Laboratories, Boston Scientific Corporation, BIOTRONIK SE & Co. KG, LivaNova PLC., Cochlear Limited, MED-EL, Sonova Holding AG, William Demant Holding A/S and Nurotron Biotechnology Co. Ltd.
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