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Implantable Medical Devices Market Trends

Report ID: GMI4483
Published Date: Mar 2023
Report Format: PDF

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Implantable Medical Devices Market Trends

The possibility of a recall for implantable medical devices awaiting premarket approval and FDA administration authorization is limiting market expansion. For instance, in May 2021, FDA announced that pharma giant Abbott was recalling over 60,000 Assurity and Endurity implantable pacemakers owing to the risk of moisture that could cause electrical shorts, leading to severe complications. Nonetheless, growing emphasis on the creation of implanted sensors and microelectronics is set to aid manufacturers in overcoming these hurdles.

Authors: Mariam Faizullabhoy

Frequently Asked Questions (FAQ) :

Global market for implantable medical devices was valued at more than USD 112.5 billion in 2022 and is set to progress at over 9% CAGR between 2023 and 2032 owing to advancements of disease management services for early diagnosis and disease detection.

The ambulatory surgical centers application segment accounted for over USD 19 billion in 2022 due to the mounting number of patients visiting ambulatory surgical centers for different interventional surgeries.

Static/non-active/passive segment is projected to depict more than 8% CAGR over 2023-2032 as a result of the low requirement for external power supply compared to its counterpart.

Europe implantable medical devices market valuation is foreseen to reach over USD 63.5 billion by 2032 on account of an upsurge in cardiovascular disorder instances and the increasing number of surgeries being performed resulting in extensive demand for pacemakers and implantable cardioverter defibrillators in the region.