A Better Approach To Implantable loop recorders and Impact of COVID-19……..Posted by Mrudula Karmarkar on June 23rd, 2022 The global implantable loop recorders market is anticipated to be worth USD 2.1 billion by the year 2027, advancing at a healthy CAGR of 9.6% through this period, according to a recent report by Grand View Research, Inc. Implantable loop recorders refer to a type of heart monitoring device that can record a person’s heart rhythm continuously for up to 3 years. The device holds advantage over a standard electrocardiogram (ECG or EKG) or Holter monitor, as it can capture information of even irregular or infrequent heart rhythms, which the others cannot. The global increase in prevalence of heart-related disorders such as cardiac arrhythmia, asymptomatic syncope, as well as other cardiovascular disorders has influenced the industry for implantable loop recorders. Implantable loop recorders are relatively new in the medical community, but have gained high attention on account of their importance in detecting issues that may otherwise remain undetected even after multiple tests. A study published in AHA (American Heart Association) journal in 2020 looked into the role of implantable loop recorders (ILR) placed in patients with cryptogenic stroke, in detecting atrial fibrillation (AF). Approximately 20% of the 178 patients were found to suffer from AF, due to ILR surveillance. With further improvements, ILR can gain huge importance in detecting majority of atrial fibrillation cases, whose number in the US according to CDC is up to 6 million. According to the AHA, in 2018, approximately 103 million adults in the US suffered from high BP; additionally, according to the CDC, over a period of 2003-2014, high BP cost the country USD 131 billion each year, which highlights the importance of early detection and treatment of such disorders. Download Free Sample Report @ https://www.grandviewresearch.com/industry-analysis/implantable-loop-recorders-market/request/rs1 The lack of physical activity among a good proportion of adults globally, owing to sedentary work environment and long working hours, has increased the prevalence of chronic cardiac conditions among this demographic. A report by HHS stated that fewer than 5% of adults in the US participate in 30 minutes of physical activity each day, while only one in three receive the recommended amount of physical activity per week. This puts more focus on self-care management for such people who may be at risk of developing various cardiovascular conditions in the future. Moreover, flexible working hours have impacted patient-doctor visits, which has upped the market for self-monitoring devices. The CDC states that sudden cardiac deaths and arrhythmia accounted for 15-20% of global deaths in 2018, which can be greatly reduced with the introduction of devices such as ILRs. In terms of application, the implantable loop recorders market has been segmented into application and end-use. The major applications of ILRs include atrial fibrillation, cardiac arrhythmia and cardiac syncope. Atrial fibrillation led in terms of revenue on account of its growing global prevalence, along with rising demand for remote patient monitoring. ILRs improve long-term ECG monitoring and the diagnosis of AF post cryptogenic stroke, which is the leading cause for the rise in their demand. The cardiac arrhythmia segment is expected to show substantial growth in the coming years, on account of rising incidences of arrhythmia around the globe, as well as growing R&D in this space. As of 2020, the AHA states that more than 4.0 million people in the US are suffering from arrhythmias, resulting in approximately half a million deaths per year. Trends and Developments:
In terms of application, the implantable loop recorders market has been segmented into application and end-use. The major applications of ILRs include atrial fibrillation, cardiac arrhythmia and cardiac syncope. Atrial fibrillation led in terms of revenue on account of its growing global prevalence, along with rising demand for remote patient monitoring. ILRs improve long-term ECG monitoring and the diagnosis of AF post cryptogenic stroke, which is the leading cause for the rise in their demand. The cardiac arrhythmia segment is expected to show substantial growth in the coming years, on account of rising incidences of arrhythmia around the globe, as well as growing R&D in this space. As of 2020, the AHA states that more than 4.0 million people in the US are suffering from arrhythmias, resulting in approximately half a million deaths per year. The market is segmented based on end-use into hospitals and cardiac centers, among others. Hospitals segment dominated the market in 2020, on account of the rising number of minimally invasive surgeries that are witnessed in this setup each year. This factor, along with favorable reimbursement policies, are expected to boost segmental growth. Region-wise, North America led the market in 2020, on account of the large target population, better awareness of the technology, as well as the presence of advanced healthcare infrastructure in the region. Asia Pacific is also expected to become an attractive region for market competitors, due to the growing target demographic, as well as increased investments in this space by organizations such as Asian Pacific Society of Cardiology (APSC) and China Cardiovascular Association. Like it? Share it!More by this author |