Implantable Loop Recorder Market Current Scenario with Forecast to 2031

Implantable Loop Recorder Market

Implantable Loop Recorder Market to reach over USD XX billion by the year 2031;

Market Synopsis-

The global implantable loop recorder market is estimated to reach over USD XX billion by 2031, exhibiting a CAGR of XX% during the forecast period.

The market is experiencing growth due to several factors, including a rising incidence of cardiovascular disorders, technological advancements, and an increasing demand for remote patient monitoring. Additionally, the sedentary lifestyle and its associated physical inactivity contribute to a higher risk of chronic cardiac conditions, further driving market expansion. Furthermore, the increasing mortality rates associated with cardiac disorders are expected to continue fueling market growth in the years ahead. The COVID-19 pandemic, which emerged in April 2020 as a result of SARS-CoV-2, had adverse effects on various sectors, including the medical device industry. During the pandemic, individuals with chronic diseases such as cardiovascular issues and diabetes encountered difficulties in managing their medications and accessing healthcare providers due to global lockdowns. Consequently, the demand for implantable loop recorders for treating cardiovascular disorders is on the rise, driven by the growing prevalence of heart conditions
Get Free Sample Copy of Report : https://www.insightaceanalytic.com/request-sample/2149

List of Prominent Players in the Implantable loop recorder Market:
• Medtronic
• Abbott
• BIOTRONIK. Inc.

Market Dynamics:
Drivers-
The ongoing impact of the pandemic had adverse effects on the growth of the analyzed market, leading to a decline in product demand. However, the current situation is showing signs of stabilization as global restrictions have eased, and disease screening services have resumed. Furthermore, the market is experiencing growth due to increased efforts by various organizations to address the rising prevalence of cardiovascular diseases. Additionally, the growing adoption of remote patient monitoring (RPM) is contributing significantly to market expansion, driven by the introduction of new reimbursement policies. Moreover, recent clinical guidelines from the AHA strongly endorse the use of remote patient monitoring for detecting atrial fibrillation in both stroke and non-stroke patients. This endorsement is further boosting the demand for implantable loop recorders and consequently driving market growth.

Challenges:
Implantable loop recorders can be expensive, making them less accessible to patients and healthcare systems with limited budgets. Nevertheless, the market growth faces obstacles due to the device's elevated price and rigorous regulatory requirements. Furthermore, alternative monitoring technologies like wearable devices and mobile apps offer less intrusive cardiac monitoring options, potentially creating competition for implantable loop recorders and thus restraining market expansion. Lack of awareness among both patients and healthcare professionals about the benefits and indications for implantable loop recorders can hinder their adoption

Enquiry Before Buying @ https://www.insightaceanalytic.com/enquiry-before-buying/2149

Regional Trends:
The North America implantable loop recorder market is expected to register major market share in terms of revenue and projected to grow at a high CAGR in the near future. Due to the growing incidence of cardiovascular diseases, a surging need for remote patient monitoring devices, robust healthcare infrastructure, and expanding healthcare expenditure, the market is witnessing significant growth. Furthermore, the increasing elderly population, who are particularly susceptible to cardiovascular conditions and necessitate continuous cardiac activity monitoring, is driving up the demand for implantable loop recorder devices, thus propelling market expansion. Besides, Europe had a substantial share in the market. The technological advancements in remote patient monitoring devices and the active participation of leading industry players in the region, who are continuously developing and introducing products to assist individuals with cardiovascular conditions, are poised to enhance market growth throughout the forecast period.

Recent Developments:
• In April 2022, Implicity secured $23 million in Series A funding, with new investors leading the way. This funding round occurred shortly after Implicity had obtained FDA clearance for an innovative AI algorithm designed for analyzing ECG episodes recorded by Implantable Loop Recorders (ILRs).
• In January 2022, Implicity received clearance from the US FDA for a groundbreaking medical algorithm designed to analyze ECG data obtained from implantable loop recorders (ILRs).

Segmentation of Implantable Loop Recorder Market-
By Application
• Atrial Fibrillation
• Cardiac Arrhythmia
• Cardiac Syncope
By End-use
• Hospitals
• Cardiac Centers
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

For More Customization @

https://www.insightaceanalytic.com/report/implantable-loop-recorder-market/2149

Commercial Office Unit No.3050, 3rd Floor Marvel Fuego, Magarpatta Rd, Hadapsar,
Pune, Maharashtra 411028

Contact Us:
InsightAce Analytic Pvt. Ltd.
Tel.: +1 718 593 4405
Email: info@insightaceanalytic.com
Site Visit: www.insightaceanalytic.com
Follow Us on LinkedIn @ bit.ly/2tBXsgS
Follow Us On Facebook @ bit.ly/2H9jnDZ

About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions.
Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses.
We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets, and repositioning products.
Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.

This release was published on openPR.