Implantable Loop Recorders - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Implantable Loop Recorders Market is accounted for $1.00 billion in 2019 and is expected to reach $2.39 billion by 2027 growing at a CAGR of 11.5% during the forecast period. Some of the key factors propelling the market growth include increasing incidence of cardiac disorders, technological advancement in cardiac monitors, increasing the number of mortality, and demand for remote patient monitoring. However, the high cost of the device may restrain market growth.
An Implantable Loop Recorder is a heart monitoring device that is implanted near the chest that records the electrical signals of the heart which help in recording the rhythm and thus storing the ECG data of the heart over a period of time. It can record the ECG data for up to 3 years and helps in providing long term ECG data that the standard ECG machine cannot provide. The long-term data collected by the Implantable Loop Recorder provides information to the doctor that can help in providing accurate diagnostic by understanding abnormal ECG data that occurs for even a short time to develop a custom treatment plan which helps in improving the effectiveness of the treatment by prescribing the right medications. It is generally prescribed for patients who have symptoms of skipped heartbeats, recurring palpitations, dizziness, etc.
By application, the cardiac center segment is anticipated to grow at a significant rate during the forecast period, due to increased number of cardiac centers and easy availability of surgeons under these facilities. Increasing demand for data preservation and remote monitoring are boosting the demand for these specialty cardiac centers. The outpatient facilities are also expected to exhibit significant growth in the coming years owing to its cost-effectiveness and faster surgery procedure.
On the basis of geography, Asia Pacific is likely to have significant growth during the forecast period, owing to R&D investments to produce technologically advanced cardiac care by the Asian Pacific Society of Cardiology (APSC) and China Cardiovascular Association. In addition, factors such as dietary habits and rising adoption of a sedentary lifestyle leading to physical inactivity are contributing to the increased cardiovascular morbidities in the region. These factors are further fuelling the demand for implantable loop recorders.
Some of the key players in the Implantable Loop Recorders Market include Medtronic, Zoll Medical, Biotronik AG, St. Jude Medical, Inc., Angel Medical Systems, GE Healthcare, Boston Scientific Corporation, Mortara Healthcare, Abbott, Spacelabs Healthcare, Vectorious, Midmark Corp., SORIN GROUP, Schiller AG, Nihon Kohden Corporation, Philips Healthcare, Lifewatch AG, Cardiac Science Corporation, Cardionet (A BioTelemetry, Inc. Company), and Edwards Life Sciences.
• Smartphone Incompatible
• Smartphone Compatible
• Cardiac Arrhythmia
• Atrial Fibrillation
• Cardiovascular Syncope
• Heart Failure
• Bundle Branch Block
End Users Covered:
• Ambulatory Surgical Centers (ASCs)
• Cardiac Centers
• Home Care Providers
• Automatic Recorders
• Manual Recorders (Patient Activated)
• Direct Sales
• Distribution Sales
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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