What Has Been Implantable Loop Recorders Market in Recent Years?
The implantable loop recorders market has seen considerable growth due to a variety of factors.
• The market scale of implantable loop recorders has seen a swift expansion in the past few years. The projection suggests it will rise from $1.69 billion in 2024 to $1.92 billion in 2025, experiencing a Compound Annual Growth Rate (CAGR) of 13.5%.
The significant growth in the past years could be attributed to various factors such as the increase in physical idleness due to a sedentary lifestyle, beneficial reimbursement strategies, broadened applications and clinical usefulness, emphasis on patient obedience, and improved diagnostic capabilities.
What is the Forecasted Market Size and CAGR for the Implantable Loop Recorders Market?
The implantable loop recorders market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for the implantable loop recorders market, with predictions of substantial growth in the coming years. The market is projected to reach a value of $3.44 billion by 2029, expanding at a compound annual growth rate (CAGR) of 15.8%.
This growth trajectory over the predicted period is primarily driven by factors such as the rising incidents of atrial fibrillation, increasing spending on healthcare, an aging population, an increase in cardiovascular diseases, and an escalating demand for remote patient monitoring. Trend forecasts for the period focus on technological innovations, extended uses, remote surveillance and telemedicine, as well as the incorporation of artificial intelligence (AI).
What Key Factors and Trends are Driving the Growth of the Implantable Loop Recorders Market?
The escalating occurrences of heart-related ailments globally is anticipated to stimulate growth within the implantable loop recorder marketplace. These cardiac maladies embody conditions that impact the heart and blood vessels. The increased prevalence of these disorders is steering the application of implantable loop recorders to capture patients' heartbeat patterns and apply appropriate remedies. For example, in October 2022, a study by the World Heart Federation, a Switzerland-based NGO, projected that cardiovascular ailments are set to escalate beyond 22.2 million by 2030 and hit the 32.3 million mark by 2050. Hence, global heart disorders propel the growth of the implantable loop recorder market.
What Are The Principal Market Segments In The Global Implantable Loop Recorders Healthcare Industry?
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
Subsegments:
1) By Manual: Manual Activation Loop Recorders, Handheld Programming Devices
2) By Automatic: Continuous Monitoring Loop Recorders, Event-Triggered Loop Recorders
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Which Emerging Market Trends Are Altering The Implantable Loop Recorders Market?
The increasing focus on product innovation is a significant trend in the implantable loop recorder market. Major industry players are creating advanced, innovative products to solidify their market standing. For example, the Germany-based medical device firm, BIOTRONIK SE & Co. KG, launched the BIOMONITOR IV implantable cardiac monitor (ICM) in September 2023. This product, which fuses the company's SmartECG technology with artificial intelligence (AI), is set to transform the way cardiac arrhythmia is monitored. The primary purpose of BIOMONITOR IV is to provide unmatched efficiency in the identification and diagnosis of cardiac abnormalities.
Who Are the Key Players in the Implantable Loop Recorders Market?
Major companies operating in the implantable loop recorders market include:
• Abbott Laboratories
• Medtronic PLC
• BIOTRONIK
• Boston Scientific Corporation
• Vectorious
• Angel Medical Systems Inc.
• Implicity
• Biotronik AG
• EBR Systems Inc.
• Cardiac Insight Inc.
• iRhythm Technologies Inc.
• Acutus Medical Inc.
• LifeWatch AG
• Holter Monitor Corporation
• Cardiologs Technologies
• Philips Healthcare
• GE HealthCare Technologies Inc.
• Siemens Healthineers
• AtriCure Inc.
• ZOLL Medical Corporation
• Nihon Kohden Corporation
• Osypka Medical GmbH
• BioTelemetry Inc.
• Eko Devices Inc.
What are the Regional Insights into the Implantable Loop Recorders Market?
North America was the largest region in the implantable loop recorder market in 2024. 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.
