Published Date: 20-Aug-2020
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According to a new report Global Implantable Loop Recorders Market, published by KBV research, The Global Implantable Loop Recorders Market size is expected to reach $2.1 billion by 2026, rising at a market growth of 11.9% CAGR during the forecast period.
Atrial Fibrillation (AF) led the industry and accounted for largest market share. The rising prevalence of AF raises the need for cardiac self-monitoring devices. Implantable loop recorders aim to improve long-term ECG control and treatment of post-cryptogenic stroke atrial fibrillation. The cardiac arrhythmia segment is expected to show substantial growth in the implantable loop recorder market over the forecast period due to a growing number of patients with arrhythmia and other cardiac disorders.
The hospital segment recorded a dominant market share. The dominance of the segment may be attributed to an improvement in the number of minimally invasive surgeries in such hospitals. In addition, the revised refund plans will boost the market for implantable loop recorders. Continuous improvement in minimally invasive surgery is further boosting development. The fast-growing sub-segment of the implantable loop recorder market is expected to be the cardiac center segment in the forecast period. Growth can be due to a rise in the number of cardiac centers and the convenient availability of surgeons in these facilities.
North America led the industry with a dominant share. This rise can be due to a number of reasons, such as increasing awareness of the advantages of different cardiac tracking products, high disposable incomes, and the presence of advanced healthcare infrastructure. In the Asia Pacific, the demand for implantable loop recorders is projected to see lucrative growth over the forecast period. Growth can be attributed to R&D investments in the production of technologically advanced cardiac care by the Asian Pacific Cardiology Society (APSC) and the China Cardiovascular Association.
Structural Insights: https://www.kbvresearch.com/implantable-loop-recorders-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Medtronic PLC, Abbott Laboratories, Boston Scientific Corporation, BIOTRONIK SE & Co. KG, Angel Medical Systems, Inc., and Vectorious Medical Technologies Ltd.
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