Market Size in 2021 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 85.31 Billion | USD 143.10 Billion | 6.60% | 2021 |
FrequentlyAsked Questions
Rising demand for active implantable medical devices is boosting the market growth. The need for active implantable devices has increased as the number of disorders and diseases has increased. These devices aid in the support or replacement of any injured bodily organs, as well as the enhancement and treatment of normal body functions. One of the most crucial aspects of patient care is an active implanted medical device.
According to the Zion Market Research report, the global active implantable medical devices market was worth about 85.31 (USD billion) in 2021 and is predicted to grow to around 143.10 (USD billion) by 2028, with a compound annual growth rate (CAGR) of around 6.60 percent.
North America is expected to hold the largest share of the global active implantable medical devices market, and this is expected to continue during the forecast period. The expanding demand for neurological and cardiovascular problems, as well as a rising focus on development and sophisticated and novel products, are expected to propel the North American market forward in the approaching years. Furthermore, rising healthcare expenditures and increased consumer awareness of the availability of effective treatments are expected to fuel market expansion in the near future.
The predominant players that are successfully functioning in the global active implantable medical devices market are Cardinal Health, Inc., C. R. Bard, Inc., Boston Scientific Corporation, Biotronik SE, and Co. KG, Abbott Laboratories, LivaNova PLC, Johnson and Johnson, Integra LifeSciences Holdings Corporation, Globus Medical, Inc., and CONMED Corporation, among others.
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