Implantable Cardiac Monitor Market to Grow at 6.1% CAGR by 2030
Increasing geriatric population along with introduction of advanced implantable cardiac monitoring devices are key factors driving the growth of the implantable cardiac monitor market globally.
The Implantable Cardiac Monitor Market is expected to grow at a CAGR of 6.1% from 2020-2030, according to a new research report by Next Move Strategy Consulting.
Implantable cardiac monitors are also referred to as implantable loop recorder. These are small devices that can be inserted into the patient’s body to continuously monitor his heart rate. Prevalence of cardiac arrhythmias across age groups has increased the demand for implantable cardiac monitor market. Also, factors such as advancement in cardiac monitoring devices, rapid adoption of implantable cardiac monitoring devices due to ease of implantation and convenience are expected to propel the market growth within the forecast period. However, availability of alternative mode of treatment and high cost associated with implantable monitors are hampering the growth of this market to some extent.
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.
Geographically, North America holds the largest share of the global implantable cardiac monitor market. This is attributed to the factors such as high adoption rate of technologically advanced implantable cardiac monitors, the presence of major key healthcare companies, high consumer awareness, and favourable reimbursement framework. However, Asia Pacific region is expected to show exponential growth within the forecast period owing to factors such as rising geriatric population, increasing obesity along with prevalence of atrial fibrillation in this region.
Browse key industry insight in the report, “Implantable Cardiac Monitors Market by Indication (Cardiac Arrhythmias, Atrial Fibrillation, and Epilepsy & Unexplained Falls) and End User (Hospitals, Cardiac Centers & Clinics and Ambulatory Surgical Centres (ASCs)) - Global Opportunity Analysis and Industry Forecast, 2020-2030”
According to the report, some the key players in the market are Abbott Laboratories, Biotronik SE & Co. KG, Boston Scientific Corporation, Edwards Lifescience Corporation, General Electric Company, Koninklijke Philips N.V., LivaNova PLC, Medtronic plc, Nihon Kohden Corporation and Phoenix Heart Center.
Key Insights from the Implantable Cardiac Monitor Market Report:
- Current emerging trends and opportunities are extensively analysed in implantable cardiac monitor market report.
- The forecast of the implantable cardiac monitor market comes along with additional information associated with opportunities, restrains and key drivers in the market.
The report Implantable Cardiac Monitor Market – is segmented by indication, end user and geography.
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