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Implantable Loop Recorders Market Trends

  • Report ID: GMI8517
  • Published Date: Mar 2024
  • Report Format: PDF

Implantable Loop Recorders Market Trends

The implantable loop recorders industry is experiencing several notable trends that are shaping its growth and development. Factors such as technological innovation in ILR design, growing adoption of remote monitoring and telemedicine solutions, rising prevalence of cardiovascular disease, and surging demand for integrated artificial intelligence (AI) in healthcare and machine learning, among other factors are propelling the industry growth.
 

  • Further, the increasing adoption of remote monitoring and telemedicine solutions is driving demand for ILRs with remote monitoring capabilities. Remote monitoring allows healthcare providers to remotely access and review patients' cardiac data, reducing the need for frequent in-person clinic visits and enabling proactive management of cardiac arrhythmias. Telemedicine platforms facilitate virtual consultations, enabling patients to receive personalized care and support from healthcare providers without the need for face-to-face appointments.
     
  • Moreover, the shift towards value-based care and outcomes-driven healthcare models is driving the adoption of ILRs as part of comprehensive care management strategies. ILRs enable early detection of cardiac arrhythmias, facilitating timely intervention and preventing adverse cardiovascular events, thereby improving patient outcomes, and reducing healthcare costs associated with hospitalizations and emergency department visits.
Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The global market size for implantable loop recorders was valued at around USD 1.4 billion in 2023 and is estimated to reach over USD 2.9 million by 2032, attributed ongoing advancements in implantable loop recorder (ILR) technology and increasing prevalence of cardiac arrhythmias.

Automatic recorders segment of implantable loop recorders industry garnered USD 958.6 million revenue in 2023 and is expected to grow swiftly till 2032, as they enhance diagnostic accuracy by continuously monitoring the heart's electrical activity, enabling the detection of asymptomatic or infrequent arrhythmias that conventional methods may miss.

North America market accounted for USD 536.7 million in 2023 and is predicted to grow substantially through 2032, owing to a high prevalence of cardiovascular disease, including cardiac arrhythmias such as atrial fibrillation, ventricular tachycardia, and bradyarrhythmias.

Abbott Laboratories, Angel Medical Systems, Inc., Biotronik, Boston Scientific Corporation, GE Healthcare, Koninklijke Philips N.V., Medtronic plc, MicroPort Scientific Corporation, Nihon Kohden Corporation, Vectorious are some of the major industry contenders.

Implantable Loop Recorders Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 10
  • Tables & Figures: 203
  • Countries covered: 22
  • Pages: 100
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