Research Nester released a report titled “Implantable Cardiac Monitor Market: Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the global implantable cardiac monitor market in terms of market segmentation by indication, by end use industry and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global implantable cardiac monitor market is anticipated to record a CAGR of around 7.9% over the forecast period i.e. 2019-2027. The market is segmented by indication into atrial fibrillation, cardiac arrhythmias, epilepsy & others. The market is further bifurcated by end users into hospitals, specialized cardiac centers, and ambulatory surgical centers among others, out of which, ambulatory surgical centers segment is expected to expand at a considerable rate on the back of supporting care, low cost treatment and ready availability of treatment at these centers.
Growing number of cardiac diseases worldwide and rise in the need for monitoring the heart rhythms is propelling the growth of the market. Technological advancements related to the market have been witnessed and are hugely contributing to the growth of the market. Moreover, various companies holding a strong portfolio on the back of significant opportunities and innovative technologies pertaining to the product are now ready to enter the market.
Geographically, the market in North America region is anticipated to hold highest market share on account of high acceptance of these devices, high investments in health care and presence of major players in the region. Rise in the prevalence of atrial fibrillation, increase in obesity along with rise in the geriatric population are the notable factors that are anticipated to drive the growth of the market in Europe region at a substantial growth rate.
Rise in Geriatric Population and Technological Advancements
The cardiovascular diseases such as heart stroke and improper functioning of the heart are becoming more prevalent and is increasing the demand for cardiac monitoring. Elderly people are more prone to diseases such as atrial fibrillation and cardiac arrhythmia, which occurs in old age and drives the need for monitoring the heart rate. Since it’s a hassle for elderly population to wear and carry external monitors, the demand for implantable cardiac monitors is estimated to grow in upcoming years. Furthermore, the advancements in technology such as smartphone compatible cardiac monitors for ease of monitoring is expected to support the market growth.
However, high cost of treatment and time consuming process pertaining to implantable cardiac monitors is expected to operate as key restraints to the growth of the market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global implantable cardiac monitor market which includes company profiling of Medtronic, Boston Scientific Corporation, Abbott, Biotronik Angel Medical Systems, Inc., Biosense Webster Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global implantable cardiac monitor market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.