Implantable Cardiac Monitors Market By Top Key Players- Boston Scientific Corporation, Medtronic plc, Edwards Lifesciences, General Electric Company, Astellas Pharma US, and Biotronik

"Implantable Cardiac Monitors Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026" recent intelligence study by MarketResearchReports.Biz.

Implantable cardiac monitors (ICM) are small electrophysiology devices used for long-term monitoring of a patient’s heart electrical activity. These also help in detecting arrhythmias. The implantable cardiac monitor technology can eliminate the need for bulk external Holter monitor, which requires wire leads to be attached to a patient. ICM is a heart failure monitoring system that prevents hospitalization of patients. ICMs can be inserted under the skin. These monitors assist physicians to assess patient’s health using cardiac rhythm. Moreover, these are used to monitor several cardiac disorders such as heart failure, atrial fibrillation, and indications of recent heart attack. Due to lower sensitivity clinical features and biochemical markers, failure of telemonitoring in early detection of heart failure there has been a demand of more advanced technique to accurately predict impending heart failure. Hence, ICM is likely to be an important technological advancement which can decrease the rate of heart attack among patients by providing important physiological data.

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High prevalence of diseases such as cardiovascular diseases and arrhythmias, increase in geriatric population with bypass surgery, rise in patient awareness programs, surge in research & development on heart disease treatment, increase in demand for comprehensive heart failure care are the major drivers of the global implantable cardiac monitors market. According to the WHO, cardiovascular diseases is one of the leading causes of death globally. In 2016, of the 16 million deaths under the age of 70 years due to non-communicable diseases, 37% were caused by cardiovascular diseases. An article published in Curesus in 2017 stated that incidence of heart failure is increasing constantly and has reached 650,000 people per year, with financial burden of US$ 30.7 Bn. Technological advances such as biochips and catheter implantation, and increase in use of advanced software applications to measure cardiac filling pressure are also likely to fuel the growth of the global implantable cardiac monitors market. However, limited insurance coverage, inflated cost of devices, and preference for drugs over devices are the factors expected to restrain the market in the near future.

The global implantable cardiac monitors market can be segmented based on indication, end-user, and region. In terms of indication, the market can be classified into cardiac arrhythmias, atrial fibrillation, and epilepsy. The atrial fibrillation segment is projected to witness strong growth due to increase in symptoms of syncope and other cardiovascular diseases among the global population. According to the WHO, cardiovascular diseases accounted for 17.5 million deaths in 2012, representing 31% of all the global deaths. Of these deaths, an estimated 7.4 million were due to coronary heart disease and 6.7 million were due to stroke. Based on end-user, the global implantable cardiac monitors market can be divided into ambulatory surgical units, hospitals, clinics, and others.

Geographically, the global implantable cardiac monitors market can be segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America dominated the global market in 2017 due to sophisticated infrastructure with modern software modalities, patient awareness programs, and high per capita health care expenditure. Early-phase diagnosis and favorable regulation on heart failure monitoring devices and treatment of disease drive the medical devices market which in turn is expected to propel the implantable cardiac monitors market in the region. In 2014, the United States Food and Drug Administration (FDA) approved the usage of CardioMEMS, a heart failure monitoring device for patients with chronic heart failure symptoms. Europe is the second largest market for cardiac disease related devices due to favorable policies regarding health care infrastructure, high incidence of cardiac diseases, and significant awareness among the population. The market in Asia Pacific is expected to grow at a rapid pace due to increase in geriatric population, rise in prevalence of ischemic heart disease and incidence of syncope, changing lifestyle, surge in awareness among patients about cardiovascular diseases, and increase in per capita expenditure. Additionally, economic growth supports improvement in the health care infrastructure in developing countries such as India and China. These factors contribute to the growth of the implantable cardiac monitors market in Asia Pacific.

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Major players operating in the global implantable cardiac monitors market include Boston Scientific Corporation, Koninklijke Philips N.V., Medtronic plc, Edwards Lifesciences Corporation, General Electric Company, Astellas Pharma US, Inc., and Biotronik.

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