Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
The outbreak of COVID in the implantable cardiac monitors market caused distribution since it spread was across the globe and it has mixed impact on the wound care market. COVID-19 impacted the various sector and industries. At the initial stages of the pandemic, the world experienced, ‘supply shocks’. China is the producer and supplier of most of the raw materials or inputs in many industries. But, The COVID-19 pandemic has opened new opportunities for implantable cardiac monitors devices and these devices gained more popularity in the healthcare market. The COVID-19 pandemic restrained the implantable cardiac monitors market growth significantly, owing to reduce in demand for ICMs. All the implemented surgeries were suspended in countries during the pandemic as medical professional and patients who is undergoing implant procedures have high risk of cross-infection in the COVID-19 pandemic. Thus this outbreak has impacted negatively on the implantable cardiac monitors market.
The increase in the incidence of cardiovascular diseases and rise in the surge in geriatric population base boost the implantable cardiac monitors market. The rise in the number of product launches and approvals fuel the market growth. A cardiac monitor device is used to record the heart’s electrical activity and it keep track of the heartbeat and rhythm. The growth of the implantable cardiac monitors market is driven by longevity offered by this device. The nature of this monitor which does not require patient to be admitted to hospital, and patient ca be monitored while performing his or her daily activities. Furthermore, increase in incidence of patients suffering from atrial fibrillation, rise in prevalence of myocardial infraction, and surge in unhealthy lifestyle contribute toward the implantable cardiac monitors market. Also, rise in the prevalence of stroke, adoption of and awareness about prolonged ECG monitoring of the heart rhythm, improvements in health care infrastructure and growing demand for subcutaneous implanted cardiac monitors.
The availability of alternative mode of treatment and inflated cost of device is major factor restrain the implantable cardiac device monitor market growth.
Increase in awareness among patients about these devices and treatment options for management of cardiac disorders is expected to provide better opportunities for the growth of Implantable cardiac monitors industry.
Surge in awareness about different treatment options for the management of cardiac disorders among patients is provide great opportunities for the growth of the implantable cardiac monitors industry.
The report provides in-depth analysis of global implantable cardiac monitors market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. With increasing demand for various implantable cardiac monitors in various applications has led the increasing demand for market and is expected to witness the growth at a specific CAGR from 2022-2028.
The global implantable cardiac monitors market comprises of different market segment like indication, end users and geography.
The Indication studied in the global implantable cardiac monitors market are cardiac arrhythmias, Atrial fibrillation, Epilepsy, and Unexplained Falls. The cardiac arrhythmias are account largest share in the implantable cardiac monitors market. Owing to the growth in incidence of cardiac arrhythmias and high mortality rate for these cardiac arrhythmias. The increase in cardiac arrhythmias across the globe which is expected to boost the demand for implantable cardiac monitors. Arrhythmic conditions such as tachycardia and bradycardia are more common in people with severe CVD and require continuous monitoring to avoid sudden heat failure which is why there is continuous demand of cardiac monitor device. Further, growing prevalence of cardiovascular diseases and increased expenditure on cardiac health globally. Technological advancement and introduction of innovative devices for cardiac rhythm monitoring increase the demand of implantable cardiac monitors for cardiac arrhythmias.
The End-User studied in the global implantable cardiac monitors market are hospital and clinics, Home settings, Ambulatory Surgical Centers. The hospital segment is account largest share in the implantable cardiac monitors market. Owing to the implementation surgical process requiring hospitalization. This device cannot be operated outside the hospitals and require trained professionals for carrying out the surgery. Also, the high usage of cardiac monitoring devices in hospitals and clinics for acute care, non-acute care and non-treatment purposes derives the hospitals segment boost the demand for implantable cardiac monitoring device.
The global implantable cardiac monitors market is studied for key regions such as North America, Europe, Asia Pacific and Rest of the World. The North-America is likely to dominate the global implantable cardiac monitors market. Due to high acceptance of implantable loop recorders, high health care investments by the government, rise in the incidence of cardiac arrhythmia, and presence of major players in the region. Moreover, rise in the geriatric population, increase in obesity and improvements in survival after cardiovascular events are further create a great opportunity for the increasing usage of cardiac monitoring devices in the region. For instance, in the United State approximately 14 million people are suffering from some form of cardiac arrhythmia. Which is attracted more investment in research and development for the monitoring of heart disease device in the North America.
The competitive landscape analysis of implantable cardiac monitors market is certainly based range of market players operating in the market with increasing number of heart disease cases across the globe. Besides, number of market players offered wide range of products for different application in various geographic locations. The market has major competitive analysis based on new product launches as well as other developments.
The key players studied in the market are, 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 and Phoenix Heart Center, Astellas Pharma Inc., Sigma-Aldrich Corporation, Agilent Technologies, Reliant Heart Inc., Abiomed Inc, Basilea Pharmaceutical Ltd., Berlin Heart GmbH, Schiller AG, and Larvik Heart Inc. and among other.
November 2021: Philips signed agreement to acquire Cardiologs, a medical technology company focused on transforming cardiac diagnostics using cloud technology and artificial intelligence (AI). This acquisition complements the company’s product portfolio of cardiac monitoring and diagnostics devices, thereby offering revenue growth opportunities in the market.
February 2020: AliveCor received approval from the Federal Commission for the Protection Against Sanitary Risk (COFEPRIS) to launch KardiaMobile in Mexico. The company has partnered with Inpharamo to implement the medical-grade ECG across the country. This has enabled company to expand its global footprint as well as customer base in the market.
Rise in the prevalence of cardiac arrhythmia such as atrial fibrillation and bradycardia is increased demand for the implantable cardiac monitor in the market. Rising technological advancement and growing geriatric population across the globe are drive the market. Furthermore, rise in the prevalence of stroke, adoption of and awareness about prolonged ECG monitoring of the heart rhythm, improvements in health care infrastructure and growing demand for subcutaneous implanted cardiac monitors are fuel the implantable cardiac monitor market growth. The global implantable cardiac monitors market comprises of different market segment like indication, end users and geography. The implantable cardiac monitor market based on indication include cardiac arrhythmias, Atrial fibrillation, Epilepsy, and Unexplained Falls. The cardiac arrhythmias account larges share in the market, owing to the growing prevalence of cardiovascular diseases and increased expenditure on cardiac health globally, Also, growing demand of advance technology for cardiac rhythm monitoring. Further, the implantable cardiac monitors end-user studied in the global implantable cardiac monitors market are hospital and clinics, Home settings, Ambulatory Surgical Centers. The hospital segment account largest share in the market. The global implantable cardiac monitors market is studied for key regions such as North America, Europe, Asia Pacific and Rest of the World. The North-America is likely to dominate the global implantable cardiac monitors market.
1) What are opportunities for the implantable cardiac monitors market?
Ans. The increase in cardiac arrhythmia globally is expected to create a demand for implantable cardiac monitors which is further create good opportunities for key players of the market.
2) Who are the key players in the implantable cardiac monitors market?
Ans: The key players studied in market are 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 and Phoenix Heart Center, Astellas Pharma Inc., Sigma-Aldrich Corporation, Agilent Technologies, Reliant Heart Inc., Abiomed Inc, Basilea Pharmaceutical Ltd., Berlin Heart GmbH, Schiller AG, and Larvik Heart Inc. and among other.
3) Which region is the fasted growing in the implantable cardiac monitors market?
Ans: The North-America region is accounted largest share in the market owing to high acceptance of implantable loop recorders, high health care investments by the government, rise in the incidence of cardiac arrhythmia, and presence of major players in the region.
