Newark, New Castle, USA, March 02, 2023 (GLOBE NEWSWIRE) -- According to the deep-dive market assessment study by Growth Plus Reports, the global implantable cardiac monitor market was valued at US$ 509.60 billion in 2021 and is expected to register a revenue CAGR of 4.75% to reach US$ 773.78 billion by 2030.
An implantable cardiac monitor is a small device placed under the chest to monitor the heart’s electrical activities. These devices are used for the diagnosis and management of cardiac rhythm disorders such as atrial fibrillation and arrhythmia, which can result in heart failure and stroke. The global implantable cardiac monitor market is expected wit undergo significant growth in the forecast period from 2022 to 2030. The primary factors attributed to the market growth are the substantial growth in the prevalence of cardiovascular diseases (CVDs), the rapidly aging population, and technological advancements facilitating improved outcomes and portability of devices.
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Market Drivers
The implantable cardiac monitor demand is projected to be fueled by technological advancements and growth in the worldwide elderly population. Cardiovascular illnesses such as heart attack and incorrect heart function are growing increasingly common, increasing the need for cardiac monitoring. Elderly persons are more susceptible to disorders such as atrial fibrillation and cardiac arrhythmia, which arise in old age and promote the need for heart rate monitoring. The longevity of such devices, the ability of implantation, and hence continuous monitoring contribute to the market growth. Additionally, advancements in healthcare systems and increased demand for subcutaneously implanted cardiac monitors are expected to drive the global implantable cardiac monitor market in the near future. Growing investments and strategic initiatives by important players through alliances, acquisitions, and mergers, and an increased need for downsized device manufacture, are expected to boost the global implanted cardiac monitor market.
The global implantable cardiac monitor market has been analyzed from three perspectives: Indication, End-user, and Region.
Excerpts from ‘By Indication Segmentation’
Based on the indications, the global implantable cardiac monitor market has been segmented into:
- Atrial Fibrillation
- Cardiac Arrhythmia
- Epilepsy
- Others
Atrial fibrillation is expected to show rapid growth during the forecast timeline attributed to growing incidences of atrial fibrillation among the population. Atrial fibrillation (AFib or AF) occurs due to an irregular pattern of heartbeats. Risk factors such as advancing age, high blood pressure, obesity, European ancestry, diabetes, heart failure, ischemic heart disease, hyperthyroidism, chronic kidney disease, heavy alcohol use, smoking, and enlargement of the chambers in the left side of the heart, are the key factors segmenting the prevalence of atrial fibrillation. Due to the consistently high prevalence of atrial fibrillation worldwide, the segment is estimated to dominate the global implantable cardiac monitor market.
Excerpts from ‘By Region Segmentation’
Geographically, the global implantable cardiac monitor market has been segmented into
- North America
- Europe
- Asia Pacific
- Rest of the World
North America leads the global implantable cardiac monitor market due to the growing incidences of cardiac disorders, a large base of the elder population, enhanced technologies, and growth in strategic collaboration, acquisition, and/or partnerships. For instance, in January 2021, Boston Scientific Corporation acquired Preventice Solutions Inc. to join the high-growth ambulatory electrocardiography arena, which complements the former’s implanted cardiac monitor segment, further strengthening its position in the cardiac diagnostics and monitoring market.
Europe accounts for the second largest revenue share ascribed to the continuous adoption of advanced healthcare technologies and large healthcare expenditures.
Furthermore, Asia Pacific is the fastest-growing region in the global implantable cardiac monitor market due to the rapidly growing CVD prevalence, and the growing pool of older adults. Moreover, the rising adoption of advanced healthcare facilities and rapidly developing healthcare systems, further boost the development of the implantable cardiac monitor market in the Asia Pacific region.
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Excerpts from ‘Competitive Landscape’
Some of the prominent players operating in the implantable cardiac monitor market are:
- Abbott Laboratories
- Boston Scientific Corporation
- Biotronik SE & Co. KG
- Angel Medical Systems Inc.
- GE Healthcare
- Medtronic Plc.
- Biosense Webster Inc.
- Abiomed Inc.
- Berlin Heart GmbH
- Koninklijke Philips, N.V.
- Edwards Lifescience Corporation
- LivaNova PLC
- Nihon Kohden Corporation
Implantable Cardiac Monitor Market Scope
| Report Attribute | Details |
| Market size value in 2021 | US$ 509.60 billion |
| Revenue forecast in 2030 | US$ 773.78 billion |
| Growth Rate | CAGR of 4.75% from 2022 to 2030 |
| Base year for estimation | 2021 |
| Forecast period | 2022-2030 |
| Historical Year | 2020 |
| Segments covered | Indication, End-user, and Region |
| Regional scope | North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
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