About Implantable Cardiac Monitors
Implantable cardiac monitors is a type of device for monitoring heart for recording heart rhythm. This can record continuously for up to three years. It works by recording the electrical signals of patients heart and remotely monitored by way of a small device inserted under the skin of the chest. It provides all the answers related to heart which other devices can not provide. There is prevalence of cardiovascular diseases among people which is driving the growth of implantable cardiac monitors market. While some of the factors like high cost associated with it is hampering the market growth.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 20.3% |
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain a competitive advantage through combined collaborations. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Implantable Cardiac Monitors market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Abbott Laboratories (United States), Biotronik SE & Co. KG (Germany), Boston Scientific Co (United States), Edwards Life Science Co (United States), GE Healthcare (United States), Koninklijke Philips N.V. (Philips Healthcare) (Netherlands), Livanova Plc (Sorin) (United Kingdom) and Medtronic Plc (Ireland) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Nihon Kohden Co (Japan) and Phoenix Heart PLLC (United States).
Segmentation Overview
AMA Research has segmented the market of Global Implantable Cardiac Monitors market by Type (Pacemakers, Implantable Cardioverter Defibrillator (ICD), Biventricular Pacemakers and Cardiac Loop Recorders), Application (Hospitals, Cardiac Center & Clinics and Ambulatory Surgical Centers (ASCs)) and Region.
On the basis of geography, the market of Implantable Cardiac Monitors has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End Use, the sub-segment i.e. Cardiac Arrhythmias will boost the Implantable Cardiac Monitors market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Awareness among People about Cardiovascular Diseases
Market Growth Drivers:
Increased Prevalence of the Cardiovascular Diseases among People, Rise in the Number of Hospitals and Clinics and Growing Demand for Implantable Cardiac Monitors from Developing Countries such as China and India
Challenges:
Stringent Regulatory Procedures for Product Approval and Security Concerns in the Devices and Connectivity Problems
Restraints:
High Cost of the Implantable Cardiac Monitors
Opportunities:
Growth in the Healthcare Industry Worldwide, Growing Geriatric Population Worldwide and Rise in the Research and Development Activities
Market Leaders and their expansionary development strategies
In 2021, Boston Scientific Corporation announced plans to acquire Preventice Solutions Inc., a privately held company that currently has a full portfolio of mobile heart health solutions and services, along with a broad range of products such as short and long term Holter monitors and mobile heart health solutions. Telemetry and Ambulatory Heart Monitors in the Implantable Heart Monitor Market. Boston Scientific has been partnering with Preventice Solutions since 2015 as an investor.
In October 2023, Boston Scientific + and announced that it launched its next-generation LUX-Dx II+ insertable cardiac monitor (ICM) system.
Key Target Audience
Implantable Cardiac Monitors Manufacturers, Raw Material Suppliers, Distributors, Emerging Companies, Research Professionals and End-users
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.