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 2016, and is expected to reach at $678.3 million by 2023, registering a CAGR of 7.4% from 2017 to 2023.
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.
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
By Indication
Cardiac Arrhythmias
Atrial Fibrillation
Epilepsy & Unexplained Falls
By End User
Hospitals
Cardiac Centers & Clinics
Ambulatory Surgical Centers (ASCs)
By Region
North America
U.S.
Canada
Mexico
Europe
UK
France
Germany
Italy
Spain
Switzerland
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
Malaysia
New Zealand
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Egypt
Rest of LAMEA
KEY PLAYERS PROFILED
Abbott Laboratories
Biotronik SE & Co. KG
Boston Scientific Corporation
Edwards Lifescience Corporation
General Electric Company
Koninklijke Philips N.V.
LivaNova PLC
Medtronic plc
Nihon Kohden Corporation
Phoenix Heart Center
The other players in the value chain include (profiles not included in the report)
Abiomed, Inc.
Berlin Heart GmbH
Jarvik Heart, Inc.
ReliantHeart Inc.
Schiller AG
Astellas Pharma, Inc.
Sigma-Aldrich Corporation
Agilent Technologies, Inc.
Basilea Pharmaceutical Ltd.
