Implantable Loop Recorders Market to grow by USD 558.7 million from 2022 to 2027 | The growing geriatric population to boost the market - Technavio
NEW YORK, Aug. 28, 2023 /PRNewswire/ -- The implantable loop recorders market size is expected to grow by USD 558.7 million from 2022 to 2027, progressing at a CAGR of 7.47% as per the latest Technavio market research report. North America is going to have lucrative growth during the forecast period. North America is estimated to account for 38% of the implantable loop recorders market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. This region has the highest share of the market owing to rising awareness of the advantages of different cardiac monitoring devices. During the forecast period, advanced healthcare infrastructure and high disposable income are expected to fuel the growth of the regional market. For instance, Boston Scientific received U.S. Food and Drug Administration approval for the LUX-Dx Insertable Cardiac Monitor (ICM) system. Such a new long-term diagnostic device is implanted in patients to find arrhythmias associated with conditions such as atrial fibrillation (AF), unexplained stroke, and syncope. In the North American market, the United States and Canada are the main sources of revenue. Rising healthcare costs for cardiovascular disease, increasing adoption of technologically advanced implantable loop recorders, high prevalence of cardiovascular disease, and an ageing population are the major driving factors. For more insights on the market share of various regions- Download free sample report in MINUTES
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Some of the key Implantable Loop Recorders Market Players:
The implantable loop recorders market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
Abbott Laboratories, Angel Medical Systems Inc., Asahi Kasei Corp., BIOTRONIK SE and Co. KG, Bittium Corp., Boston Scientific Corp., Koninklijke Philips NV, Medtronic Plc, and Vectorious Medical Technologies Ltd.
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This market research report segments the implantable loop recorders market by application (Cardiac arrhythmia and Atrial fibrillation), type (Automatic and Manual), and geography (North America, Europe, Asia, and the Rest of World (ROW)).
- The market share growth by the cardiac arrhythmia segment will be significant during the forecast period. Cardiac arrhythmia is referred to as an irregular heartbeat and happens when the electrical signals that regulate the heartbeat are not working properly. When patients are at high risk of cardiac arrest, physicians recommend implantable loop recorders. Compared to an electrocardiogram, an implantable loop recorder monitors the heart rhythm over a much longer period of time which helps doctors determine the cause and effect of the arrhythmia. Consequently, the demand for implantable loop recorders to identify the cause of cardiac arrhythmia in critically ill patients is anticipated to rise during the forecast period. Such factors will boost the growth of the cardiac arrhythmia segment of the market during the forecast period.
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Related Reports:
The Implantable Medical Devices Market size is estimated to grow by USD 51.1 billion at a CAGR of 8.25% between 2022 and 2027. This report has segmented the market into type(orthopaedic implants, cardiovascular implants, ophthalmic implants, dental implants, and other implants., cardiovascular implants, ophthalmic implants, dental implants, and other implants.), end-user(hospitals, clinics, and others.) and geography( North America, Europe, Asia, and Rest of the World (ROW). One of the key factors driving the implantable medical devices market growth is the rise in number of people with chronic illnesses.
The ambulatory cardiac monitoring devices market size is estimated to grow at a CAGR of 6.28% between 2022 and 2027. This report extensively covers market segmentation by the device (ambulatory ECG devices, ambulatory cardiac event monitors, ambulatory cardiac telemetry devices, and implantable loop recorders), end-user (ambulatory care centers, hospitals, and clinics and cardiac centers), and geography (North America, Asia, Europe, and Rest of World (ROW)). The rising incidence of heart disease is the key factor driving the growth of the global ambulatory cardiac monitoring devices market.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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SOURCE Technavio
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