Latest News- Implantable Loop Recorders Market: Cardiac arrhythmia is expected to lead the Application segment during 2024-2028

The Implantable Loop Recorders Market is being driven by Growing number of cardiac conditions due to irregularity in heart rhythms and other chronic diseases

The Implantable Loop Recorders Market is expected to grow at a CAGR of 6.78% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 532.7 million. Global healthcare systems are prioritizing infrastructure development and affordability to ensure universal access to healthcare services. With approximately half the world's population residing in rural areas, countries like Spain, China, Thailand, and India are making significant strides in addressing healthcare disparities. Emerging economies are committed to improving overall healthcare quality and accessibility for their citizens. Simultaneously, governments and industry collaborate to address the escalating cardiovascular disease burden, with the medical technology and device sector playing a pivotal role in this partnership. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Cardiac arrhythmia
  • Atrial fibrillation
• Type
  • Automatic
  • Manual
• End-User
  • Hospitals
  • Cardiac Centers
• Geography
  • North America
    • US
    • Canada
  • Europe
    • Denmark
    • Spain
  • Asia
  • Rest of World (ROW)

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growing number of cardiac conditions due to irregularity in heart rhythms and other chronic diseases
• Growing geriatric population
• Focus on preventive treatments

However, the market also witnesses some limitations, which are as follows:

• Stringent regulations of implantable loop recorders
• Data efficacy issues and risks associated with implantable loop recorders
• Shortage of skilled clinicians

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Market Scope in Implantable Loop Recorders Market Research Report

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Research Analysis Overview

The Implantable Loop Recorder (ILR) market is a significant segment of the medical device industry, particularly in disease screening for cardiovascular disorders such as cardiac syncope, arrhythmia, and atrial fibrillation. The worldwide restrictions due to the pandemic have led to a surge in demand for remote patient monitoring, making ILRs an essential tool for healthcare resources. According to quarterly financial reports, the product demand for ILRs is expected to grow due to the increasing geriatric population, a high-risk group for chronic cardiac conditions. The NIH and World Health Organization have emphasized the importance of early detection and prevention of cardiovascular diseases, including sudden cardiac deaths. ILRs play a crucial role in identifying cardiac arrhythmias and syncope, enabling timely intervention through cardiac procedures or medication. Moreover, the rising trend of elective procedures, cardiovascular devices, and cardiac assist devices has further boosted the market growth. Physical inactivity, a leading cause of chronic cardiac conditions, has increased the need for ILRs to monitor patients at risk. In conclusion, the Implantable Loop Recorder market is poised for significant growth, driven by disease screening, remote patient monitoring, and the increasing prevalence of cardiovascular disorders.

Market Research Overview

Technavio's Implantable Loop Recorders Market analysis is situated within the broader context of the global Healthcare Equipment Market. This market encompasses organizations involved in the research and development (R&D) of various product categories, such as capital equipment, instruments, implants, accessories, and consumables. These products are utilized for the diagnosis, monitoring, and treatment of various diseases. Technavio estimates the size of the global Healthcare Equipment Market by aggregating the revenues of manufacturers producing diagnostic equipment and devices across diverse therapy areas. The Healthcare Equipment Industry is segmented into Devices, which includes advanced, differentiated, and clinically validated data-driven devices.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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