Implantable Loop Recorders Market to Cross Valuation of US$ 1.65 Bn by 2027; Significance of Continuous Monitoring of Heart Creates Opportunities, Says TMR

- Clinical advantages of implantable cardiac monitor to address significant rise in heart-related deaths across the world spells demand

- Substantial rise in healthcare spending in Asia Pacific to fuel growth of the implantable loop recorders market in the region

ALBANY, N.Y., Feb. 1, 2022 /PRNewswire/ -- Analysts at TMR project the implantable loop recorders market to expand at a CAGR of 7% during the forecast period from 2019 to 2027. Significance of implantable loop recorders to serve the need for prolonged electrocardiographic monitoring devices and self-care management devices to reduce the burden of heart-related diseases globally drives the implantable loop recorders market.

Heart-related disorders are a burden on healthcare systems worldwide, and are a major cause of deaths in the U.S. According to estimates presented by the Science Daily, deaths caused due to cardiovascular diseases increased by around 41% from 1990 to 2013.

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Implantable cardiac monitor helps continuous monitoring of the heart, which helps in the detection of chronic heart conditions. Implantable cardiac monitors provide more effective results than exterior cardiac monitor does. In light of this, with significant research, the first range of implantable loop recorders was introduced in 1990, and have evolved with technological advancements since then.

The role of manufacturers to develop next-gen products is creating new frontiers in the implantable loop recorders market. Stakeholders in the implantable loop recorders market are engaged in R&D to launch smart products that can be accessed on smartphones via wireless technology.

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Implantable Loop Recorders Market – Key Findings of Report

• Demand for implantable loop recorders continues to grow at a consistent rate due to their exceptional ability to identify irregular heart rhythms and cardiac disorders. Increasing use of implantable loop recorders to treat cardiac arrhythmia indications is a key factor to increase their demand in recent years.
• Prospects of installation of implantable loop recorders by the European Heart Rhythm Association for uninterrupted heart rhythm monitoring, with their use is anticipated to grow for clinical purposes to fuel the implantable loop recorders market
• Advent of implantable loop recorders is anticipated to play a key role to assist ECG monitoring in the long-term and in the detection of atrial fibrillation following a cryptogenic stroke
• Significant research for implantable loop recorders have led to the development of a range of modalities for ECG monitoring and their applications in finding sub-clinical atrial fibrillation for patients with cryptogenic stroke
• Cardiac arrhythmias and cardiovascular syncope indication segments jointly held a significant share of the implantable loop recorders market in 2020, and is projected to continue to hold a significant share during the forecast period
• Savvy companies in the implantable loop recorders market engage in in-licensing and collaborations to launch new products in Asia Pacific. Factors such as rising demand for technology-driven solutions, economic prosperity, and advancement in medical treatment is driving players to tap into opportunities in the region.
• The U.S. is anticipated to display significant growth in the implantable loop recorders market at a CAGR of 7.5% during the forecast period

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Implantable Loop Recorders Market – Growth Drivers

• Significant advantage of implantable loop recorders to enable constant monitoring of heart rhythm, and their use in the early detection of any alarming cardiac condition fuels the growth of implantable loop recorders market
• Recent development of use of implantable loop recorders to treat indications of cardiac arrhythmia stimulates demand

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Implantable Loop Recorders Market – Key Players

Some of the key players operating in the implantable loop recorders market are;

• Vectorious
• Abbott Laboratories
• Angel Medical Systems Inc.
• Medtronic plc
• Biotronik
• Boston Scientific Corporation

The implantable loop recorders market is segmented as follows;

Implantable Loop Recorders Market, by Product

• Manual
• Automatic

Implantable Loop Recorders Market, by Indication

• Cardiovascular Syncope
• Stroke
• Heart Failure
• Cardiac Arrhythmias
• Atrial Fibrillation
• Bundle Branch Block
• Others

Implantable Loop Recorders Market, by End User

• Hospitals
• Cardiac Centers & Clinics
• Ambulatory Surgical Centers

Global Implantable Loop Recorders Market, by Region

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• Rest of Asia Pacific
• Latin America
• Brazil
• Mexico
• Rest of Latin America
• Middle East & Africa
• GCC Countries
• South Africa
• Rest of Middle East & Africa

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