An implantable cardiac monitor is a small monitoring device, which is used to record the electrical activity of the heart. The device is embedded under the skin of the patient’s chest from where the heart’s electrical activity is recorded. The device can be activated either by adjusting the heart rate according to the range set by the physician or can be externally triggered with the push of a button. These recordings are used by the physicians to analyze and identify an abnormal heart rhythm. The device is used to monitor patients who are at risk for myocardial infraction and atrial fibrillation.
The global implantable cardiac monitors market was valued at $410.4 million in 2021, and is expected to reach at $678.3 million by 2026, registering a CAGR of 7.4% from 2021 to 2026.
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The Centers for Medicare and Medicaid Services report that US healthcare expenditures grew by 4.6% to US$ 3.8 trillion in 2019, or US$ 11,582 per person, and accounted for 17.7% of GDP. Also, the federal government accounted for 29.0% of the total health expenditures, followed by households (28.4%). State and local governments accounted for 16.1% of total health care expenditures, while other private revenues accounted for 7.5%.
This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
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A major factor that drives implantable cardiac monitors market is their longevity. In addition, the implantable nature does not require any admission to the hospital, and the patient can be monitored while performing the daily activities. Moreover, rise in incidence of patients suffering from atrial fibrillation, increase in prevalence of myocardial infraction, and unhealthy lifestyle are some other factors that boost the market growth. However, availability of alternative mode of treatment and inflated cost of device hamper the market growth. Conversely, increase in awareness among patients these devices and treatment options for management of cardiac disorders provide lucrative market growth opportunities.
The global implantable cardiac monitors market is segmented based on indication, end user, and region. On the basis of indication, the market is divided into cardiac arrhythmias, atrial fibrillation, and epilepsy & unexplained falls. By end user, it is classified into hospitals, cardiac centers & clinics and ambulatory surgical centers (ASCs).
Regionally, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the highest market share in 2016, and is expected to maintain its dominance throughout the forecast period. This is attributed to increase in development of sophisticated cardiac devices and well-established healthcare infrastructure in the region. However, Asia-Pacific is expected to emerge as a lucrative area with maximum growth potential, due to the improvements in healthcare facilities, increase in disposable income, and improvement in economic conditions.
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KEY BENEFITS FOR STAKEHOLDERS
The study provides an in-depth analysis of the global implantable cardiac monitors market, with current trends and future estimations to elucidate the imminent investment pockets.
Comprehensive analysis of factors that drive and restrict the market growth is provided.
Comprehensive quantitative analysis of the industry from 2016 to 2023 is provided to enable stakeholders to capitalize on the prevailing market opportunities.
Extensive analysis of the key segments of the industry, which helps understand the type of products and technologies used globally is included.
Key market players and their strategies are provided to understand the competitive outlook of the market.
KEY MARKET SEGMENTS
Epilepsy & Unexplained Falls
By End User
Cardiac Centers & Clinics
Ambulatory Surgical Centers (ASCs)
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Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA
KEY PLAYERS PROFILED
Biotronik SE & Co. KG
Boston Scientific Corporation
Edwards Lifescience Corporation
General Electric Company
Koninklijke Philips N.V.
Nihon Kohden Corporation
Phoenix Heart Center
The other players in the value chain include (profiles not included in the report)
Berlin Heart GmbH
Jarvik Heart, Inc.
Astellas Pharma, Inc.
Agilent Technologies, Inc.
Basilea Pharmaceutical Ltd.
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What are the aspects of this report that relate to regional analysis?
The report’s geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
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Reports on the market include the growth rates of each region, which includes their countries, over the coming years.
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A market report includes details on recent market developments, mergers, and acquisitions involving the key players mentioned.
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This market report shows the projected market size for the pain management devices market at the end of the forecast period. The report also examines the historical and current market sizes.
On the basis of various indicators, the charts present the year-over-year growth (%) and compound annual growth rate (CAGR) for the given forecast period.
The report includes an overview of the market, its geographical scope, its segmentation, and the financial performance of key players.
The report examines the current state of the industry and the potential growth opportunities in North America, Asia Pacific, Europe, Latin America, and the Middle East, and Africa.
The research report includes various factors contributing to the market’s growth.
The report analyzes the growth rate, market size, and market valuation for the forecast period.
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The report analyzes companies across the globe in detail.
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Market reports provide information regarding recent developments, mergers, and acquisitions involving key players.
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This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
The report offers the current state of the market and future prospects for various geographical regions.
This report provides both qualitative and quantitative information about the competitive landscape of the market.
Combined with Porter’s Five Forces analysis, it serves as SWOT analysis and competitive landscape analysis.
It provides an in-depth analysis of the market, highlighting its growth rates and opportunities for growth.
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