Press release
Global Implantable Loop Recorders Market Projected to Surpass $3.44 Billion by 2029 with 15.8% Annual Growth
Implantable Loop Recorders Market Size
The implantable loop recorder market is anticipated to be driven by the increasing global incidence of cardiac diseases. Cardiac conditions, which impact the heart and blood vessels, are becoming more common, leading to a greater usage of implantable loop recorders to monitor patients' heart rhythms and provide treatment. For example, a report from the World Heart Federation, a non-governmental organization based in Switzerland, in October 2022 revealed that the number of cardiovascular diseases is predicted to exceed 22.2 million by 2030, and reach 32.3 million by 2050. Consequently, the global rise in cardiac disorders fuels the implantable loop recorder market.
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How will the growth rate of the implantable loop recorders market shape industry trends by 2034?
The market for implantable loop recorders has experienced swift expansion in the recent past. It's projected to escalate from $1.69 billion in 2024 to $1.92 billion in 2025, with a compound annual growth rate (CAGR) of 13.5%. The growth during the historic period has been driven by factors such as increasing physical inactivity owing to a sedentary lifestyle, favorable insurance reimbursement policies, broadened applications and clinical usefulness, emphasis on patient compliance, and improved diagnostic abilities.
The size of the implantable loop recorders market is anticipated to witness a swift expansion in the forthcoming years. The market value is projected to reach $3.44 billion in 2029, with a compound annual growth rate (CAGR) of 15.8%. The expansion during this forecast period can be traced back to the surge in cases of atrial fibrillation, increased spending on healthcare, an upsurge in the elderly population, growth in cardiovascular diseases, and a rising demand for remote patient monitoring. Key trends for the forecast period encompass technological advancements, broadened applications, remote monitoring and telemedicine, and the incorporation of artificial intelligence (AI).
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What trends are poised to drive the future success of the implantable loop recorders market?
In the implantable loop recorder industry, product innovation is an emerging trend which is being widely embraced. Market-leading companies are focusing on producing innovative and sophisticated products to solidify their market standing. For example, BIOTRONIK SE & Co. KG, a German medical device company, unveiled the BIOMONITOR IV implantable cardiac monitor (ICM) in September 2023. The device integrates the company's SmartECG technology with artificial intelligence (AI) to significantly transform cardiac arrhythmia monitoring. The goal of the BIOMONITOR IV is to provide unmatched efficiency in identifying and diagnosing cardiac abnormalities.
Which primary segments of the implantable loop recorders market are driving growth and industry transformations?
The implantable loop recorders market covered in this report is segmented -
1) By Product: Manual, Automatic
2) By Application: Atrial fibrillation, Cardiac Arrhythmia, Cardiac Syncope
3) By End Users: Hospitals, Cardiac Centers And Clinics, Ambulatory Surgical Centers
Subsegments:
1) By Manual: Manual Activation Loop Recorders, Handheld Programming Devices
2) By Automatic: Continuous Monitoring Loop Recorders, Event-Triggered Loop Recorders
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Which geographical regions are pioneering growth in the implantable loop recorders market?
North America was the largest region in the implantable loop recorder market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the implantable loop recorders market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the influential players reshaping the implantable loop recorders market landscape?
Major companies operating in the implantable loop recorders market include Abbott Laboratories, Medtronic PLC, BIOTRONIK, Boston Scientific Corporation, Vectorious, Angel Medical Systems Inc., Implicity, Biotronik AG, EBR Systems Inc., Cardiac Insight Inc., iRhythm Technologies Inc., Acutus Medical Inc., LifeWatch AG, Holter Monitor Corporation, Cardiologs Technologies, Philips Healthcare, GE HealthCare Technologies Inc., Siemens Healthineers, AtriCure Inc., ZOLL Medical Corporation, Nihon Kohden Corporation, Osypka Medical GmbH, BioTelemetry Inc., Eko Devices Inc.
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What Is Covered In The Implantable Loop Recorders Global Market Report?
•Market Size Forecast: Examine the implantable loop recorders market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the implantable loop recorders market for a structured understanding.
•Key Players Overview: Analyze major players in the implantable loop recorders market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the implantable loop recorders market.
•Segment Contributions: Evaluate how different segments drive overall growth in the implantable loop recorders market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the implantable loop recorders market.
•Industry Challenges: Identify potential risks and obstacles affecting the implantable loop recorders market.
•Competitive Landscape: Review strategic developments in the implantable loop recorders market, including expansions, agreements, and new product launches.
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