Overview and Scope
Implantable loop recorders refer to a heart monitoring device inserted beneath the skin of the chest. It records heart rhythm continuously for up to three years and allows the doctor to remotely monitor heartbeat while doing daily activities.
Sizing and Forecast
The implantable loop recorders market size has grown rapidly in recent years. It will grow from $1.52 billion in 2023 to $1.73 billion in 2024 at a compound annual growth rate (CAGR) of 14.3%. The growth in the historic period can be attributed to physical inactivity due to a sedentary lifestyle, favorable reimbursement policies, expanded applications and clinical utility, focus on patient compliance, enhanced diagnostic capabilities.
The implantable loop recorders market size is expected to see rapid growth in the next few years. It will grow to $3 billion in 2028 at a compound annual growth rate (CAGR) of 14.7%. The growth in the forecast period can be attributed to increasing prevalence of atrial fibrillation, growing healthcare expenditure, rising geriatric population, rise in cardiovascular diseases, growing demand for remote patient monitoring. Major trends in the forecast period include technological advancements, expanded applications, remote monitoring and telemedicine, artificial intelligence (AI) integration.
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Segmentation & Regional Insights
The implantable loop recorders market covered in this report is segmented -
1) By Product: Manual, Automatic
2) By Application: Atrial fibrillation, Cardiac Arrhythmia, Cardiac Syncope
3) By End Users: Hospitals, Cardiac Centers and Clinics, Ambulatory Surgical Centers
North America was the largest region in the implantable loop recorder market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the implantable loop recorders market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growing prevalence of cardiac disorders across the globe is expected to propel the implantable loop recorder market going forward. Cardiac disorders refer to a set of conditions affecting the heart and blood vessels. The rising prevalence of cardiac disorders is influencing the use of implantable loop recorders for recording patients' heart rhythms and treating them. For instance, in May 2023, according to the Centers for Disease Control and Prevention Highlights, a US-based intergovernmental organization, coronary heart disease was estimated to kill 375,476 people in 2021. Therefore, cardiac disorders across the globe drives the implantable loop recorder market.
Key Industry Players
Major companies operating in the implantable loop recorders market report are General Electric Company, EBR Systems Inc., Abbott Laboratories, Medtronic PLC, Koninklijke Philips N.V., GE Healthcare, Boston Scientific Corporation, Edwards Lifesciences Corporation, Nihon Kohden Corporation, Angel Medical Systems Inc., MicroPort Scientific Corporatio, Cardiac Science Corporation, Endotronix Inc., Sorin Group, BioTelemetry Inc., Spectrum Dynamics Medical, TechIndia Infoway Pvt. Ltd., Biotricity Inc., Leman Micro Devices SA, Vectorious Medical Technologies Ltd., Neovasc Inc., SentiAR Inc., LivaNova PLC, Biotronik SE & Co. KG, Asian Heart and Vascular Centre, CARDION s.r.o., Vitatron BV, Vivosonic Inc., NeuroPace Inc., MedicImplant AG, Osypka Medical GmbH
The implantable loop recorders market report table of contents includes:
1. Executive Summary
2. Implantable Loop Recorders Market Characteristics
3. Implantable Loop Recorders Market Trends And Strategies
4. Implantable Loop Recorders Market - Macro Economic Scenario
5. Global Implantable Loop Recorders Market Size and Growth
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31. Implantable Loop Recorders Market Other Major And Innovative Companies
32. Global Implantable Loop Recorders Market Competitive Benchmarking
33. Global Implantable Loop Recorders Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Implantable Loop Recorders Market
35. Implantable Loop Recorders Market Future Outlook and Potential Analysis
36.Appendix
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Global Implantable Loop Recorders Market Report, published by Accurize Market Research, forecast that the global market is expected to reach $813.5 Million by 2025, growing at a CAGR of 8.4% from 2019 to 2025.
In terms of volume, the market was valued 181.4 Million Units in 2018 and is expected to reach 320.4 Million Units by 2025, growing at a CAGR of 8.7% from 2019 to 2025.
North America dominated the global implantable loop recorders market with around half of the global market share in 2018 and anticipated to hold the major market share until 2025.Request Sample:https://www.accurizemarketresearch.com/report/implantable-loop-recorders-market/sample-requestMarket Introduction and Market DynamicsAn implantable loop recorder is a small size device which can be implanted below the patients’ skin, just near the chest, to record the heart activity.
It is often used to help find a cause for recurrent unexplained syncope when there is a strong suspicion of a heart rhythm cause but all other simple tests have been normal.
Moreover, the increase in awareness about devices and treatment options for cardiac disorders will create lucrative opportunities for the key players in this market.
Additionally, the untapped market in emerging economies would provide several growth opportunities in forecasted years.Market Segmentation and Crisp AnalysisThe global implantable loop recorders market has been classified on the basis of indication, end-users, distribution channel, and compatibility.
