According to the report, “Implantable Loop Recorders Market Size, Share & Trend Analysis Report By Application (Atrial Fibrillation, Cardiac Arrhythmia), By End use (Hospitals, Cardiac Centers), By Region, And Segment Forecasts, 2020 – 2027”, technological advancements for cardiac monitor and growth in cases of cardiac diseases is anticipated for a robust market development in the coming years.
More than 85.7 million people in U.S. suffer from high BP and hypertension due to stressful lifestyle in 2018. These factors are expected to increase the burden of CVDs in the country over the forecast period. Moreover, one in every three U.S. adults does not meet the current guidelines for physical activity. Increasing number of mortality due to cardiac disorders is expected to boost the growth of the market for implantable loop recorder in the coming years. According to CDC, sudden cardiac deaths and arrhythmia accounted for around 15.0 to 20.0% of all deaths globally in the past years.
The COVID-19 outbreak caused due to SARS-CoV-2, already affected millions of people globally as of April, 2020. The contagious coronavirus is also having an economic impact and implications on most of the sectors including the medical device industry. Patients with chronic diseases such as cardiovascular and diabetes are facing challenges in managing medications, visiting healthcare providers due to nationwide lockdown. The self-monitoring devices will help the patients for remote monitoring while at home which is expected to increase the demand for implantable loop recorder in the coming years.
Implantable Loop Recorders Market Report Highlights
In terms of revenue, atrial fibrillation dominated the application segment in 2019. The growth can be attributed to increasing incidence of the disease and growing demand for remote patient monitoring
On basis of end-use, hospitals held the largest revenue share in 2019 owing to increased number of minimally invasive surgeries under these facilities
The market is oligopolistic and dominated by Medtronic, Abbott, and BIOTRONIK, Inc.
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Grand View Research has segmented the global implantable loop recorders market on the basis of product, end use, and region:
Implantable Loop Recorders Application Outlook (Revenue, USD Million, 2016 – 2027)
Implantable Loop Recorders End-use Outlook (Revenue, USD Million, 2016 – 2027)
Implantable Loop Recorders Regional Outlook (Revenue, USD Million, 2016 – 2027)
Middle East & Africa
List of Key Players of Implantable Loop Recorders Market
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