Implantable Cardiac Monitor Market
The Global Implantable Cardiac Monitor Market held USD 521.41 million in 2019 and is predicted to reach USD 1,179.10 million by 2030 with a CAGR of 7.7% from 2020-2030.
The implantable cardiac monitor is also known as the implantable loop recorder. These are small insertable devices that continuously monitors heart rhythms. These monitors evaluate the infrequent and unexplained arrhythmias. The increase in the prevalence of cardiac arrhythmias such as atrial fibrillation and bradycardia has increased the market size of the global implantable cardiac monitor market. The implantable cardiac monitor technology eliminates the need for bulks external monitors that require wire leads attached to the patient. Technological advancements in cardiac monitor devices have made them easier to implant for continuously monitoring the heart for detecting cardiac arrhythmias and atrial fibrillation. This has boosted the implantable cardiac monitor market size.
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Top Companies: General Electric Company, Koninklijke Philips N.V., Abbott Laboratories, Biotronik SE & Co. KG, LivaNova PLC, Medtronic plc, Nihon Kohden Corporation, Boston Scientific Corporation, Edwards Lifescience Corporation, Phoenix Heart Center and others.
The implantable cardiac monitor market is segmented on the basis of indication, end user, and geography. On the basis of indication, the market is segmented into cardiac arrhythmias, atrial fibrillation, and epilepsy & unexplained falls. On the basis of end user, the market covers hospitals, cardiac centers & clinics, ambulatory surgical centers. Geographic breakdown and analysis of each of the aforesaid segments include regions comprising North America, Europe, Asia-Pacific, and RoW.
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North America denotes a higher adoption of the implantable cardiac monitor and is anticipated to hold the highest implantable cardiac monitor market share during the forecast period. This is attributable to the factors including the high adoption rate of technologically advanced implantable cardiac monitors, the presence of major key healthcare companies, high consumer awareness, and favorable reimbursement framework. It is expected that the emerging economies, specifically in the Asia-Pacific region would witness increasing market size owing to the increase in the prevalence of atrial fibrillation, increase in obesity, and increasing geriatric population.
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