Implantable Cardiac Monitors Market Insights Challenges and New Trends

Posted by andrew on October 4th, 2019

The Global Implantable Cardiac Monitors Market was valued at 0.4 million in 2016, and is projected to reach 8.3 million by 2023, growing at a CAGR of 7.4% from 2017 to 2023. The cardiac arrhythmias indication accounted for nearly half of the market share in 2016.

Implantable heart monitors help doctors assess the health status of the patient's heart rhythm. These devices help treat the heart patient and ensure the patient's heart function. They are used to monitor several serious heart conditions, including heart failure, atrial fibrillation, and signs of recent heart attacks. With the increased use of advanced batteries with durable battery life, patients can be continuously monitored for almost 2-3 years with the help of an implantable loop recorder or heart monitor. Therefore, these devices are ideal for patients who need continuous monitoring over a long period of time.

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The report provides a comprehensive analysis of the key players operating in the global implantable cardiac monitors market such as Abbott Laboratories,

• Biotronik SE & Co. KG,
• Boston Scientific Corporation,
• Edwart,
• General Electric Company,
• Koninklijke Philips N.V.,
• LivaNova PLC,
• Medtronic plc,
• Nihon Kohden Corporation
• Phoenix Heart Center

The other players of the global implantable cardiac monitors market include Astellas Pharma, Inc., Sigma-Aldrich Corporation, Agilent Technologies, Inc., ReliantHeart Inc., Abiomed, Inc., Basilea Pharmaceutical Ltd., Berlin Heart GmbH, Schiller AG, and Jarvik Heart, Inc.

Technological advancements in cardiac monitoring devices, awareness among patients about monitoring of the heart & treatment options for management of cardiac disorders, and high unmet medical needs in developing & under developed regions of the world are projected to drive the market growth. However, limited insurance coverage, inflated cost of devices, and preference for drugs over treatment devices are the factors expected to restrain the market growth. Conversely, presence of favorable government initiatives and contribution from independent organizations are anticipated to offer several opportunities for market growth.

The atrial fibrillation occupied about one-third share of the total implantable cardiac monitors market in 2016, and is expected to retain its position throughout the forecast period.

Hospitals segment accounted for about two-thirds of the market share in 2016, and is anticipated to maintain its dominance during the forecast period. This is attributed to high usage of cardiac monitoring devices in hospitals for acute care, nonacute care, and nontreatment purposes.