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Global Implantable Loop Recorders Market by End-use (Hospitals, Cardiac Centers), by Application (Atrial Fibrillation, Cardiac Arrhythmia) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

  • Report ID: MD-73786
  • Author: Up Market Research
  • Rating: 4.6
  • Total Reviews: 63
  • No. Of Pages: 217
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  • Pub. Date: 2021-10-21
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Summary of the Report

Global implantable loop recorders market was valued at USD 1.0 million in 2019. It is projected to grow at a compound annual rate (CAGR of 9.6%) between 2020 and 2027. The market for implantable loop recorders is growing due to increasing incidence of cardiac disorders and technological advancements in cardiac monitors. A sedentary lifestyle and physical inactivity can increase the risk of developing chronic heart conditions. This is expected to drive demand for self-monitoring and cardiovascular care.

The market for implantable loop recorders is expected to grow in the future due to an increase in cardiac deaths. According to the CDC, arrhythmia and sudden cardiac deaths accounted for approximately 15.0 to 20% of all global deaths in 2018. Additionally, the growth is being driven by favorable government policies in developed economies like North America and Europe. The risk of developing cardiovascular diseases is rising with the aging population, which further fuels the need for implantable loop recorders.

As of April 2020, the COVID-19 virus, which is caused by SARS-CoV-2 has already affected millions worldwide. Contagious coronavirus has also had an economic impact on many sectors, including the medical device sector. Due to the nationwide lockdown, patients with chronic conditions such as diabetes and cardiovascular disease are having difficulty managing their medications and visiting their healthcare providers. Patients will be able to monitor their health remotely from home using self-monitoring devices. This is expected to lead to an increase in demand for implantable loop recorders in the future.

Application Insights

Arial Fibrillation (AF), dominated the market with a 39.6% revenue share in 2019. The increasing incidence of AF is driving the demand for self monitoring cardiac devices. Implantable loop recorders are used to monitor the ECG and diagnose atrial fibrillation after a cryptogenic stroke. Patients with AF are at risk of a blood clot forming and causing a stroke. Remote monitoring via these devices can help reduce this risk.

Due to the increased incidence of cardiac arrhythmia and other cardiac disorders, the implantable loop recorder market is expected to see significant growth over the forecast period. The American Heart Association estimates that more than 4.0million patients suffer from arrhythmias, which cause half a million deaths annually in the U.S. each year. The industry's major players have invested in continuous R&D to develop micro-sized implantable loop recorders. These devices can be used to diagnose arrhythmias and syncope or monitor for potential cardiovascular problems.

End-use Insights

In 2019, the hospital segment was dominant and held a 60.0% revenue share. This growth can be attributed largely to the increased number of minimally invasive procedures performed at these facilities. Revisions to reimbursement policies have also increased the demand for implantable loop recorders. Growth is further supported by the continuous improvement in minimally invasive surgery.

Over the forecast period, the market for implantable loop recorders is expected to see the cardiac center segment as the fastest-growing segment. This growth can be attributed mainly to the increased number of cardiac centres and the easy availability of surgeons in these facilities. These specialty cardiac centers are in high demand due to the increasing demand for remote monitoring and data preservation. Due to its cost effectiveness, and the faster procedure, outpatient facilities will also see significant growth over the next few years.

Regional Insights

North America was the dominant market, with an average revenue share of 38.0% in 2019, The market's growth is due to several factors, including increasing awareness of the benefits of cardiac monitoring devices, high disposable income and advanced healthcare infrastructure. The market for implantable loop recorders in the region will be fueled by the presence of major service providers offering better healthcare solutions.

The market for implantable loop recorders is expected to grow in Asia Pacific over the forecast period. This growth can be attributed primarily to R&D investments by the Asian Pacific Society of Cardiology and China Cardiovascular Association to produce technologically advanced cardiac healthcare. The region is also experiencing an increase in cardiovascular morbidities due to sedentary lifestyles and increased physical inactivity. These factors further fuel the demand for implantable loop recordsers.

Market Share Insights & Key Companies

As of 2019, the market for implantable loop recorder was oligopolistic. It is dominated by Medtronic, Abbott, BIOTRONIK, Inc. and BIOTRONIK, Inc. More than 70% of market share was held by Medtronic and Abbott. Technology drives the market for implantable recorder. To gain market share, the players constantly develop technologically advanced products. Abbott's next-generation Confirm RX Implantable Cardiac Monitor, (ICM), was launched in May 2019. It features SharpSense technology and can reduce false detection by approximately 97.0%.

BIOTRONIK, Inc., launched Biomonitor III, a Japanese implantable cardiac monitor, in January 2020. This was to expand its regional penetration. Medtronic plans to launch Reveal Linq II in the next few years, which will boost its revenue. It is an advanced cardiac monitor with Bluetooth (and waferscale) that is expected to increase the company's revenues. The market for implantable loop recorders is dominated by the following players:

  • Medtronic

  • Abbott

  • BIOTRONIK. Inc.

Up Market Research published a new report titled “Implantable Loop Recorders Market research report which is segmented by End-use (Hospitals, Cardiac Centers), by Application (Atrial Fibrillation, Cardiac Arrhythmia), By Players/Companies Medtronic, BIOTRONIK Inc, Abbott”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.


Report Scope

Report AttributesReport Details
Report TitleImplantable Loop Recorders Market Research Report
By End-useHospitals, Cardiac Centers
By ApplicationAtrial Fibrillation, Cardiac Arrhythmia
By CompaniesMedtronic, BIOTRONIK Inc, Abbott
Regions CoveredNorth America, Europe, APAC, Latin America, MEA
Base Year2020
Historical Year2018 to 2019 (Data from 2010 can be provided as per availability)
Forecast Year2028
Number of Pages217
Number of Tables & Figures152
Customization AvailableYes, the report can be customized as per your need.

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.


Global Implantable Loop Recorders Industry Outlook

Global Implantable Loop Recorders Market Report Segments:

The market is segmented by End-use (Hospitals, Cardiac Centers), by Application (Atrial Fibrillation, Cardiac Arrhythmia).

Implantable Loop Recorders Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.


Key Benefits for Industry Participants & Stakeholders:

  • Industry drivers, restraints, and opportunities covered in the study
  • Neutral perspective on the market performance
  • Recent industry trends and developments
  • Competitive landscape & strategies of key players
  • Potential & niche segments and regions exhibiting promising growth covered
  • Historical, current, and projected market size, in terms of value
  • In-depth analysis of the Implantable Loop Recorders Market

Overview of the regional outlook of the Implantable Loop Recorders Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.


Implantable Loop Recorders Market Overview

Highlights of The Implantable Loop Recorders Market Report:

  1. The market structure and projections for the coming years.
  2. Drivers, restraints, opportunities, and current trends of Implantable Loop Recorders Market.
  3. Historical data and forecast.
  4. Estimations for the forecast period 2028.
  5. Developments and trends in the market.
        6. By End-use:

                1. Hospitals

                2. Cardiac Centers

        7. By Application:

                1. Atrial Fibrillation

                2. Cardiac Arrhythmia

  1. Market scenario by region, sub-region, and country.
  2. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
  3. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
  4. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Implantable Loop Recorders Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.


How you may use our products:

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Implantable Loop Recorders Market Trends

Reasons to Purchase the Implantable Loop Recorders Market Report:

  • The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
  • Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
  • Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
  • The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
  • Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Implantable Loop Recorders Market Overview
   4.1 Introduction 
      4.1.1 Market Taxonomy 
      4.1.2 Market Definition 
      4.1.3 Macro-Economic Factors Impacting the Market Growth 
   4.2 Implantable Loop Recorders Market Dynamics 
      4.2.1 Market Drivers 
      4.2.2 Market Restraints 
      4.2.3 Market Opportunity 
   4.3 Implantable Loop Recorders Market - Supply Chain Analysis 
      4.3.1 List of Key Suppliers 
      4.3.2 List of Key Distributors 
      4.3.3 List of Key Consumers 
   4.4 Key Forces Shaping the Implantable Loop Recorders Market 
      4.4.1 Bargaining Power of Suppliers 
      4.4.2 Bargaining Power of Buyers 
      4.4.3 Threat of Substitution 
      4.4.4 Threat of New Entrants 
      4.4.5 Competitive Rivalry 
   4.5 Global Implantable Loop Recorders Market Size & Forecast, 2018-2028 
      4.5.1 Implantable Loop Recorders Market Size and Y-o-Y Growth 
      4.5.2 Implantable Loop Recorders Market Absolute $ Opportunity 


Chapter 5 Global Implantable Loop Recorders Market Analysis and Forecast by End-use
   5.1 Introduction
      5.1.1 Key Market Trends & Growth Opportunities by End-use
      5.1.2 Basis Point Share (BPS) Analysis by End-use
      5.1.3 Absolute $ Opportunity Assessment by End-use
   5.2 Implantable Loop Recorders Market Size Forecast by End-use
      5.2.1 Hospitals
      5.2.2 Cardiac Centers
   5.3 Market Attractiveness Analysis by End-use

Chapter 6 Global Implantable Loop Recorders Market Analysis and Forecast by Application
   6.1 Introduction
      6.1.1 Key Market Trends & Growth Opportunities by Application
      6.1.2 Basis Point Share (BPS) Analysis by Application
      6.1.3 Absolute $ Opportunity Assessment by Application
   6.2 Implantable Loop Recorders Market Size Forecast by Application
      6.2.1 Atrial Fibrillation
      6.2.2 Cardiac Arrhythmia
   6.3 Market Attractiveness Analysis by Application

Chapter 7 Global Implantable Loop Recorders Market Analysis and Forecast by Region
   7.1 Introduction
      7.1.1 Key Market Trends & Growth Opportunities by Region
      7.1.2 Basis Point Share (BPS) Analysis by Region
      7.1.3 Absolute $ Opportunity Assessment by Region
   7.2 Implantable Loop Recorders Market Size Forecast by Region
      7.2.1 North America
      7.2.2 Europe
      7.2.3 Asia Pacific
      7.2.4 Latin America
      7.2.5 Middle East & Africa (MEA)
   7.3 Market Attractiveness Analysis by Region

Chapter 8 Coronavirus Disease (COVID-19) Impact 
   8.1 Introduction 
   8.2 Current & Future Impact Analysis 
   8.3 Economic Impact Analysis 
   8.4 Government Policies 
   8.5 Investment Scenario

Chapter 9 North America Implantable Loop Recorders Analysis and Forecast
   9.1 Introduction
   9.2 North America Implantable Loop Recorders Market Size Forecast by Country
      9.2.1 U.S.
      9.2.2 Canada
   9.3 Basis Point Share (BPS) Analysis by Country
   9.4 Absolute $ Opportunity Assessment by Country
   9.5 Market Attractiveness Analysis by Country
   9.6 North America Implantable Loop Recorders Market Size Forecast by End-use
      9.6.1 Hospitals
      9.6.2 Cardiac Centers
   9.7 Basis Point Share (BPS) Analysis by End-use 
   9.8 Absolute $ Opportunity Assessment by End-use 
   9.9 Market Attractiveness Analysis by End-use
   9.10 North America Implantable Loop Recorders Market Size Forecast by Application
      9.10.1 Atrial Fibrillation
      9.10.2 Cardiac Arrhythmia
   9.11 Basis Point Share (BPS) Analysis by Application 
   9.12 Absolute $ Opportunity Assessment by Application 
   9.13 Market Attractiveness Analysis by Application

Chapter 10 Europe Implantable Loop Recorders Analysis and Forecast
   10.1 Introduction
   10.2 Europe Implantable Loop Recorders Market Size Forecast by Country
      10.2.1 Germany
      10.2.2 France
      10.2.3 Italy
      10.2.4 U.K.
      10.2.5 Spain
      10.2.6 Russia
      10.2.7 Rest of Europe
   10.3 Basis Point Share (BPS) Analysis by Country
   10.4 Absolute $ Opportunity Assessment by Country
   10.5 Market Attractiveness Analysis by Country
   10.6 Europe Implantable Loop Recorders Market Size Forecast by End-use
      10.6.1 Hospitals
      10.6.2 Cardiac Centers
   10.7 Basis Point Share (BPS) Analysis by End-use 
   10.8 Absolute $ Opportunity Assessment by End-use 
   10.9 Market Attractiveness Analysis by End-use
   10.10 Europe Implantable Loop Recorders Market Size Forecast by Application
      10.10.1 Atrial Fibrillation
      10.10.2 Cardiac Arrhythmia
   10.11 Basis Point Share (BPS) Analysis by Application 
   10.12 Absolute $ Opportunity Assessment by Application 
   10.13 Market Attractiveness Analysis by Application

Chapter 11 Asia Pacific Implantable Loop Recorders Analysis and Forecast
   11.1 Introduction
   11.2 Asia Pacific Implantable Loop Recorders Market Size Forecast by Country
      11.2.1 China
      11.2.2 Japan
      11.2.3 South Korea
      11.2.4 India
      11.2.5 Australia
      11.2.6 South East Asia (SEA)
      11.2.7 Rest of Asia Pacific (APAC)
   11.3 Basis Point Share (BPS) Analysis by Country
   11.4 Absolute $ Opportunity Assessment by Country
   11.5 Market Attractiveness Analysis by Country
   11.6 Asia Pacific Implantable Loop Recorders Market Size Forecast by End-use
      11.6.1 Hospitals
      11.6.2 Cardiac Centers
   11.7 Basis Point Share (BPS) Analysis by End-use 
   11.8 Absolute $ Opportunity Assessment by End-use 
   11.9 Market Attractiveness Analysis by End-use
   11.10 Asia Pacific Implantable Loop Recorders Market Size Forecast by Application
      11.10.1 Atrial Fibrillation
      11.10.2 Cardiac Arrhythmia
   11.11 Basis Point Share (BPS) Analysis by Application 
   11.12 Absolute $ Opportunity Assessment by Application 
   11.13 Market Attractiveness Analysis by Application

Chapter 12 Latin America Implantable Loop Recorders Analysis and Forecast
   12.1 Introduction
   12.2 Latin America Implantable Loop Recorders Market Size Forecast by Country
      12.2.1 Brazil
      12.2.2 Mexico
      12.2.3 Rest of Latin America (LATAM)
   12.3 Basis Point Share (BPS) Analysis by Country
   12.4 Absolute $ Opportunity Assessment by Country
   12.5 Market Attractiveness Analysis by Country
   12.6 Latin America Implantable Loop Recorders Market Size Forecast by End-use
      12.6.1 Hospitals
      12.6.2 Cardiac Centers
   12.7 Basis Point Share (BPS) Analysis by End-use 
   12.8 Absolute $ Opportunity Assessment by End-use 
   12.9 Market Attractiveness Analysis by End-use
   12.10 Latin America Implantable Loop Recorders Market Size Forecast by Application
      12.10.1 Atrial Fibrillation
      12.10.2 Cardiac Arrhythmia
   12.11 Basis Point Share (BPS) Analysis by Application 
   12.12 Absolute $ Opportunity Assessment by Application 
   12.13 Market Attractiveness Analysis by Application

Chapter 13 Middle East & Africa (MEA) Implantable Loop Recorders Analysis and Forecast
   13.1 Introduction
   13.2 Middle East & Africa (MEA) Implantable Loop Recorders Market Size Forecast by Country
      13.2.1 Saudi Arabia
      13.2.2 South Africa
      13.2.3 UAE
      13.2.4 Rest of Middle East & Africa (MEA)
   13.3 Basis Point Share (BPS) Analysis by Country
   13.4 Absolute $ Opportunity Assessment by Country
   13.5 Market Attractiveness Analysis by Country
   13.6 Middle East & Africa (MEA) Implantable Loop Recorders Market Size Forecast by End-use
      13.6.1 Hospitals
      13.6.2 Cardiac Centers
   13.7 Basis Point Share (BPS) Analysis by End-use 
   13.8 Absolute $ Opportunity Assessment by End-use 
   13.9 Market Attractiveness Analysis by End-use
   13.10 Middle East & Africa (MEA) Implantable Loop Recorders Market Size Forecast by Application
      13.10.1 Atrial Fibrillation
      13.10.2 Cardiac Arrhythmia
   13.11 Basis Point Share (BPS) Analysis by Application 
   13.12 Absolute $ Opportunity Assessment by Application 
   13.13 Market Attractiveness Analysis by Application

Chapter 14 Competition Landscape 
   14.1 Implantable Loop Recorders Market: Competitive Dashboard
   14.2 Global Implantable Loop Recorders Market: Market Share Analysis, 2019
   14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy) 
      14.3.1 Medtronic
      14.3.2 BIOTRONIK Inc
      14.3.3 Abbott
Segments Covered in the Report
The global Implantable Loop Recorders market has been segmented based on

By End-use
  • Hospitals
  • Cardiac Centers
By Application
  • Atrial Fibrillation
  • Cardiac Arrhythmia
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • Medtronic
  • BIOTRONIK Inc
  • Abbott

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