The global implantable loop recorders market was valued at USD 1,020 million in 2020 and is projected to grow at a CAGR of 9.4% during the forecast period. Factors driving the growth of the implantable loop recorders market include increasing incidence of cardiovascular disorders, upsurge in aged population and enhanced capabilities of advanced products in timely recognition of heart conditions.
The global implantable loop recorders market is segmented based on application and end-use. On the basis of application, the market is segmented into atrial fibrillation, cardiac arrhythmia and cardiac syncope. The atrial fibrillation was the largest market of the implantable loop recorders market in 2019. By end-use, the market is segmented into hospital, cardiac center and others. The hospital segment accounted for the largest share of the global implantable loop recorders market and is projected to sustain its dominance over the forecast period.
Regionally, North America accounted for the largest market share of the global implantable loop recorders market attributable to the increasing demand for invasive treatment options. Leading players of the global implantable loop recorders market include Medtronic, Abbott, and BIOTRONIK, Inc.
Key segments of the global implantable loop recorders market
Application Overview, 2018-2028 (USD Million)
- Atrial fibrillation
- Cardiac arrhythmia
- Cardiac syncope
End Use Overview, 2018-2028 (USD Million)
- Cardiac centers
Regional Overview, 2018-2028 (USD Million)
- North America
- United Kingdom
- Asia Pacific
- Latin America
- Middle East & Africa
Reasons for the study
- Increasing incidence of cardiac disorders
- Technological advancement in cardiac monitors
- Demand for remote patient monitoring
What does the report include?
- The study on the global implantable loop recorders market includes qualitative factors such as drivers, restraints and opportunities
- The study covers qualitative and quantitative analysis of the market segmented on the basis of application and end-use. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments
- The study includes the profiles of key players in the market with a significant global and/or regional presence
Who should buy this report?
- The report on the global implantable loop recorders market is suitable for all the players across the value chain including product manufacturing companies, suppliers/distributors, R&D labs, CROs, healthcare organizations, medical reimbursement and insurance providers
- Venture capitalists and investors looking for more information on the future outlook of the global implantable loop recorders market
Consultants, analysts, researchers, and academicians looking for insights shaping the global implantable loop recorders market
Consumer wearable devices capable of recording heart rate trends, beat-to-beat intervals, and single-lead electrocardiograms are rapidly being employed by patients with known or suspected arrhythmias. Two types of population using such devices are individuals at high risk or those who use them for early detection and prevention purposes and patients already diagnosed or suspected to have an arrhythmia. A common scenario is to employ these devices for patients with known or suspected arrhythmias, either to make an initial diagnosis or to assist in managing the arrhythmia after it has been detected. Individual patient interest in employing these tools varies dramatically, often based upon their comfort with digital technology. Once patients use this technology, they often find themselves forced to figure out how to share the data with their clinical provider. Providers must make accommodations for these patients, such as providing e-mail access, since EHR portals typically do not accommodate attachment of digital health data. The patient perspective of these tools will need to be assessed as these technologies mature.
On the basis of application, the market is segmented into atrial fibrillation, cardiac arrhythmia and cardiac syncope. The atrial fibrillation dominated the market of implantable loop recorders market in 2019. The projected prevalence of atrial fibrillation universally is 0.1% to 1%, growing with age. By 2030, it is expected that the number of Americans aged 65 and older will double. Since the population is rapidly aging along with the growing incidence of obesity and other risk factors associated with atrial fibrillation such as hypertension, ischemic heart disease, heart failure, valvular heart disease and diabetes, the forthcoming decade has been called as an “epidemic of atrial fibrillation”, highlighting the prominence of atrial fibrillation as existing and upcoming healthcare burden.
Many of the global low and middle income countries (LMICs) are experiencing an epidemiological evolution. By means of a development in socioeconomic conditions, the epidemiological change has steered the rise of non-communicable ailments particularly cardiovascular diseases (CVDs). CVDs have emerged as the principal causes of death worldwide. In 2016, more than 75% of the 17.9 million deaths from CVDs occurred in LMICs. Ischaemic heart disease and cerebrovascular disease are accountable for the massive cardiovascular deaths in LMICs. Though exhaustive international efforts to avert and treat cardiovascular deaths in high income countries (HICs) and LMICs are ongoing, cardiac arrhythmias continues as a ignored group of CVDs, especially in LMICs. With an increasing life expectancy seen in most LMICs, arrhythmias like atrial fibrillation (AF), ventricular arrhythmias due to ischaemic heart disease, sinus node dysfunction (SND) and heart block are probable to upsurge in these nations. As the treatment of cardiac arrhythmias frequently requires particular skills, facilities, exclusive equipment and devices to treat them effectively, it is not astounding that an extensive inequality exists in the standard of arrhythmia care between HICs and LMICs.