Implantable Cardiac Monitors Market By Indication (Cardiac Arrrythmias, Atrial Fribrillation, Epilepsy And Unexplained Falls), By End User (Hospitals And Clinics, Home Settings, Ambulatory Surgical Centers (Ascs)): Global Opportunity Analysis and Industry Forecast, 2020-2030
The global implantable cardiac monitors market was valued at $500.02 million in 2020, and is projected to reach $974.42 million by 2030, registering a CAGR of 7.2% from 2021 to 2030.
An implantable cardiac monitor(ICM), also known as implantable loop recorder (ILR), is a small monitoring device used to record electrical activity of the heart. The device is embedded under the chest skin of the patient through which the electrical activity of heart is recorded. The device is activated either by adjusting the heart rate according to the range set by the physician or can be externally triggered with the push of a button. These recordings are used by physicians to analyze and identify abnormal heart rhythm, precisely to monitor patients who are at risk of myocardial infraction and atrial fibrillation.
Longevity offered by this device, implantable nature of this monitor which does not require patient to be admitted to the hospital, and ability of monitoring patient while they perform daily activities drive the growth of the market. Moreover, increase in incidence of patients suffering from atrial fibrillation, prevalence of myocardial infraction, and unhealthy lifestyle contribute toward the growth of the market. However, availability of alternative mode of treatment and inflated cost of this device are the major barriers that hinder the growth of the market. Conversely, increase in awareness among patients about these devices and treatment options for management of cardiac disorders are expected to offer lucrative growth opportunities for market during the forecast period.
The global ICMs market is segmented on the basis of indication, end user, and region. According to indication, it is categorized into cardiac arrhythmias, atrial fibrillation, and epilepsy & unexplained falls. Depending on end user, it is classified into hospitals, cardiac centers & clinics, and ambulatory surgical centers. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
This report provides a detailed quantitative analysis of the current market trends and future estimations from 2020 to 2030, which assists to identify the prevailing market opportunities.
An in-depth analysis of various regions is anticipated to provide a detailed understanding of the current trends to enable stakeholders to formulate region-specific plans.
A comprehensive analysis of the factors that drive and restrain the growth of the ICMs market is provided.
An extensive analysis of various regions provides insights that allow companies to strategically plan their business moves.
Key market players and their strategies have been analyzed to understand the competitive outlook of the market.
Key Market Segments
By Indication
Cardiac Arrrythmias
Atrial Fribrillation
Epilepsy And Unexplained Falls
By End User
Ambulatory Surgical Centers (Ascs)
Hospitals And Clinics
Home Settings
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
United Kingdom
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
Australia
India
South Africa
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
ABBOTT LABORATORIES
Boston Scientific Corporation
EDWARDS LIFE SCIENCE CORPORATION
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