The Global Implantable Cardiac Monitor Market was valued at USD 521.41 million in 2019 and is predicted to reach USD 1 billion by 2030 with a CAGR of 6.1% from 2020-2030.
The implantable cardiac monitor is also known as the implantable loop recorder. These are small devices that can be inserted into the human body for continuously monitoring their heart beats. They have the ability to not only monitor but also to evaluate and report the inconsistent and unexplained arrhythmias. The increasing prevalence of cardiac arrhythmias such as atrial fibrillation and bradycardia has boosted the demand for implantable cardiac monitor market globally.
Top Companies: Abbott Laboratories, Boston Scientific Corporation, Edwards Lifescience Corporation, General Electric Company, LivaNova PLC, Medtronic plc, Nihon Kohden Corporation and Phoenix Heart Center.
Market Dynamics and Trends
The implantable cardiac monitor eliminates the need for bulky external monitors that require inconvenient wire leads attached to the patient. Technological advancements in cardiac monitor devices have made them easier to be implanted under the skin of the patient’s chest for continuously monitoring their heart and detect cardiac arrhythmias and atrial fibrillation.
Increasing incidences of atrial fibrillation, myocardial infarction, and arrhythmias have been driving the growth of global implantable cardiac monitor market. Also, factors such as durability of implantable cardiac monitors along with other advantages they offer such as reduced duration of hospitalization and lesser readmission requirements are contributing to the growth of this market. Moreover, investments made by the key players in the R&D to innovate such devices are also supporting the growth of implantable cardiac monitor market. However, the availability of alternative modes of treatments and high cost associated with implantable monitors are hampering the growth of this market to some extent. On the other hand, increased awareness about the advantages of these devices is expected to create new opportunities for market players in the coming future.
Request free sample copy of this report at:-
Market Segmentations and Scope of the Study:
The implantable cardiac monitor market is segmented into indication, end user and geography. On the basis of indication, the market is segmented into cardiac arrhythmias, atrial fibrillation, epilepsy and unexplained falls. On the basis of end user, the market is segmented into hospitals, cardiac centers & clinics, and ambulatory surgery centers. Based on geography the market is segmented into North America, Europe, Asia Pacific and RoW.
The North American region is anticipated to hold the lion share of the market during the forecast period. This is attributable to the factors including high adoption rate of technologically advanced implantable cardiac monitors, the presence of major key healthcare companies, high consumer awareness, and favorable reimbursement framework.
However, Asia Pacific region is expected to show rapid and consistent growth in terms of market share within the forecast period owing to factors such as increasing prevalence of atrial fibrillation, rise in obesity, and growing geriatric population.
About Next Move Strategy Consulting:
Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider, committed to deliver high quality, market research reports that help multinational companies to triumph over their competitions and increase industry footprint by capturing greater market share. Our research model is a unique collaboration of primary research, secondary research, data mining and data analytics.
We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicate as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solution that ranges from the pre consultation to after-sales services, provide an excellent client experience and ensure right strategic decision making for businesses.
For more insights, please visit, https://www.nextmsc.com