Analyst Viewpoint
Increase in incidence of cardiac arrhythmia worldwide is a prominent factor responsible for the implantable cardiac monitor market growth. Implantable cardiac monitor records rhythmic activities of the heart to detect any irregularities so that curative action can be taken.
Rise in geriatric population across the globe is driving the demand for remote cardiac monitoring, thereby accelerating the sales of wireless implantable cardiac monitors.
Companies operating in the global implantable cardiac monitor industry are introducing smart implantable heart monitors equipped with Artificial Intelligence (AI) to monitor cardiac arrhythmias with utmost efficiency.
In line with the latest implantable cardiac monitor market trends, key players are introducing exclusive cardiac remote monitoring platforms that facilitate patient ECG, event monitoring, and heart failure monitoring, thereby expediting timely access to heart rhythm analysis.
Implantable cardiac monitors, also known as intracardiac rhythm monitors, are mini-ECG devices that are implanted in the left chest area under the skin. They monitor rhythmic activities of the heart. The data is then studied by healthcare professionals to decide the best course of treatment.
One of the key advantages of implantable cardiac monitor is that it monitors heartbeats for a longer duration, thereby capturing them even in case the patient faints.
Rise in occurrence of stroke is prompting healthcare practitioners to advise patients to opt for implantable cardiac monitors, as the situation prior to as well as after the stroke can be monitored efficiently. This is augmenting the implantable cardiac monitor market size.
Initially, wired implantable cardiac monitoring were used across the globe. However, demand for wireless implantable cardiac monitors is rising significantly of late, as these devices allow remote data collection and control of implantable devices.
Pacemaker, implantable cardioverter defibrillator, biventricular pacemaker, and cardiac loop recorder are the various types of implantable cardiac monitor available across the globe.
| Attribute | Detail |
|---|---|
| Market Drivers |
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Cardiac arrhythmia implies pounding, racing, or fluttering heartbeats. It occurs when nerve cells producing electrical signals fail to function properly or do not travel normally through the heart.
Research states that excessive consumption of alcohol or stimulant drugs is one of the primary causes of cardiac arrhythmia. Smoking is another factor that adds to the risk of cardiac arrhythmia. Furthermore, fast-paced lifestyle is leading to undue pressure on the heart, thereby exposing individuals to cardiovascular ailments.
Other probable byproducts of sedentary lifestyle include diabetes, sleep apnea, thyroid disease, and anxiety attacks, which also contribute toward cardiac arrhythmia.
As per the National Institutes of Health, around 6 to 12 million people worldwide are battling cardiac arrhythmia and the number is likely to increase twofold during the forecast period.
Thus, the global implantable cardiac monitor industry is estimated to grow substantially in the wake of the rising number of people contracting this ailment.
Functional and structural alterations in cardiac electrical and mechanical system coupled with metabolism and energetics linked with aging process increase the susceptibility to cardiac arrhythmias in the geriatric population.
The WHO states that 22% of the global population will cross the age of 60 and above by 2050. As per the National Institutes of Health, ventricular arrhythmias affect more than 70% of the people falling in the age group of 60 and above.
The elderly population is also at a greater risk of the other ailments such as osteoporosis. Remote cardiac monitoring that comprises implantable cardiac telemetry and cardiac monitors is recommended by doctors, as they can regularly monitor patient heartbeats at a distance and suggest medications as per the irregularities found.
Thus, increase in number of geriatric patients opting for remote cardiac monitoring across the globe is boosting market dynamics.
| Attribute | Detail |
|---|---|
| Leading Region | North America |
North America accounted for the largest share of the global implantable cardiac monitor landscape in 2022. The region is expected to continue its dominance during the forecast period.
High implantable cardiac monitor market share of North America can be ascribed to the growth in prevalence of cardiac arrhythmia in the U.S. According to a recent research, more than 14 million people are suffering from cardiac arrhythmia in the U.S.
Healthcare facilities in the U.S. are increasingly adopting technologically advanced implantable cardiac monitors that predict complications in individuals suffering from post-myocardial infarction patients.
Europe also recorded substantial market progress in 2022, led by the surge in adoption of advanced technologies related to cardiac care and rise in elderly population in the region.
Strong healthcare infrastructure, presence of advanced medical facilities, and unwavering commitment to patient care are other factors driving market expansion in Europe.
Companies operating in the global implantable cardiac monitor industry are focusing on launching new and innovative products with unique features to increase their market share.
In May 2023, Abbott announced that its insertable cardiac monitor called Assert-IQ offers a battery life of three or six years. This enables healthcare professionals to monitor cardiac movements for long without power interruption.
Leading implantable cardiac monitor market manufacturers are introducing smart wearables for cardiac monitoring systems that enable healthcare practitioners to find patterns, make decisions, and execute actions in a prompt manner.
The implantable cardiac monitor market report scope includes analysis of prominent players such as Medtronic, Abbott, Biotronik, Angel Medical Systems, Inc., Vectorious, Boston Scientific Corporation, and Biosense Webster, Inc. based on parameters such as company overview, business strategies, financial overview, product portfolio, and business segments.
| Attribute | Detail |
|---|---|
| Market Size in 2022 | US$ 914.5 Mn |
| Market Forecast (Value) in 2031 | US$ 1.6 Bn |
| Growth Rate (CAGR) | 6.6% |
| Forecast Period | 2023-2031 |
| Historical Data Available for | 2017-2021 |
| Quantitative Units | US$ Mn/Bn for Value |
| Market Analysis | It includes segment analysis as well as regional level analysis. Moreover, qualitative analysis includes drivers, restraints, opportunities, key trends, Porter’s Five Forces analysis, value chain analysis, and key trend analysis. |
| Competition Landscape |
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| Format | Electronic (PDF) + Excel |
| Market Segmentation |
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| Regions Covered |
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| Countries Covered |
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| Companies Profiled |
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| Customization Scope | Available Upon Request |
| Pricing | Available Upon Request |
It was valued at US$ 914.5 Mn in 2022
It is projected to grow at a CAGR of 6.6% from 2023 to 2031
Growth in prevalence of cardiac arrhythmia and increase in remote cardiac monitoring for geriatric population
The hospitals segment accounted for the largest share in 2022
North America was the dominant region in 2022
Medtronic, Abbott, Biotronik, Angel Medical Systems, Inc., Vectorious, Boston Scientific Corporation, and Biosense Webster, Inc.
1. Preface
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Research Methodology
3. Executive Summary: Global Implantable Cardiac Monitor Market
4. Market Overview
4.1. Introduction
4.1.1. Product Definition
4.1.2. Industry Evolution/Developments
4.2. Overview
4.3. Market Dynamics
4.3.1. Drivers
4.3.2. Restraints
4.3.3. Opportunities
4.4. Global Implantable Cardiac Monitor Market Analysis and Forecast, 2017–2031
5. Key Insights
5.1. Pipeline Analysis
5.2. Key Product/Brand Analysis
5.3. Key Mergers & Acquisitions
5.4. COVID-19 Pandemic Impact on Industry
6. Global Implantable Cardiac Monitor Market Analysis and Forecast, by Arrhythmia
6.1. Introduction & Definition
6.2. Key Findings/Developments
6.3. Market Value Forecast, by Arrhythmia, 2017–2031
6.3.1. Atrial Fibrillation
6.3.2. Bradycardia
6.3.3. Others
6.4. Market Attractiveness Analysis, by Arrhythmia
7. Global Implantable Cardiac Monitor Market Analysis and Forecast, by End-user
7.1. Introduction & Definition
7.2. Key Findings/Developments
7.3. Market Value Forecast, by End-user, 2017–2031
7.3.1. Hospitals
7.3.2. Specialized Cardiac Centers
7.3.3. Ambulatory Surgical Centers
7.4. Market Attractiveness Analysis, by Type of Urinary Incontinence
8. Global Implantable Cardiac Monitor Market Analysis and Forecast, by Region
8.1. Key Findings
8.2. Market Value Forecast, by Region, 2017–2031
8.2.1. North America
8.2.2. Europe
8.2.3. Asia Pacific
8.2.4. Latin America
8.2.5. Middle East & Africa
8.3. Market Attractiveness Analysis, by Region
9. North America Implantable Cardiac Monitor Market Analysis and Forecast
9.1. Introduction
9.2. Key Findings
9.3. Market Value Forecast, by Arrhythmia, 2017–2031
9.3.1. Atrial Fibrillation
9.3.2. Bradycardia
9.3.3. Others
9.4. Market Value Forecast, by End-user, 2017–2031
9.4.1. Hospitals
9.4.2. Specialized Cardiac Centers
9.4.3. Ambulatory Surgical Centers
9.5. Market Value Forecast, by Country, 2017–2031
9.5.1. U.S.
9.5.2. Canada
9.6. Market Attractiveness Analysis
9.6.1. By Arrhythmia
9.6.2. By End-user
9.6.3. By Country
10. Europe Implantable Cardiac Monitor Market Analysis and Forecast
10.1. Introduction
10.2. Key Findings
10.3. Market Value Forecast, by Arrhythmia, 2017–2031
10.3.1. Atrial Fibrillation
10.3.2. Bradycardia
10.3.3. Others
10.4. Market Value Forecast, by End-user, 2017–2031
10.4.1. Hospitals
10.4.2. Specialized Cardiac Centers
10.4.3. Ambulatory Surgical Centers
10.5. Market Value Forecast, by Country/Sub-region, 2017–2031
10.5.1. Germany
10.5.2. U.K.
10.5.3. France
10.5.4. Italy
10.5.5. Spain
10.5.6. Rest of Europe
10.6. Market Attractiveness Analysis
10.6.1. By Arrhythmia
10.6.2. By End-user
10.6.3. By Country/Sub-region
11. Asia Pacific Implantable Cardiac Monitor Market Analysis and Forecast
11.1. Introduction
11.2. Key Findings
11.3. Market Value Forecast, by Arrhythmia, 2017–2031
11.3.1. Atrial Fibrillation
11.3.2. Bradycardia
11.3.3. Others
11.4. Market Value Forecast, by End-user, 2017–2031
11.4.1. Hospitals
11.4.2. Specialized Cardiac Centers
11.4.3. Ambulatory Surgical Centers
11.5. Market Value Forecast, by Country/Sub-region, 2017–2031
11.5.1. China
11.5.2. Japan
11.5.3. India
11.5.4. Australia & New Zealand
11.5.5. Rest of Asia Pacific
11.6. Market Attractiveness Analysis
11.6.1. By Arrhythmia
11.6.2. By End-user
11.6.3. By Country/Sub-region
12. Latin America Implantable Cardiac Monitor Market Analysis and Forecast
12.1. Introduction
12.2. Key Findings
12.3. Market Value Forecast, by Arrhythmia, 2017–2031
12.3.1. Atrial Fibrillation
12.3.2. Bradycardia
12.3.3. Others
12.4. Market Value Forecast, by End-user, 2017–2031
12.4.1. Hospitals
12.4.2. Specialized Cardiac Centers
12.4.3. Ambulatory Surgical Centers
12.5. Market Value Forecast, by Country/Sub-region, 2017–2031
12.5.1. Brazil
12.5.2. Mexico
12.5.3. Rest of Latin America
12.6. Market Attractiveness Analysis
12.6.1. By Arrhythmia
12.6.2. By End-user
12.6.3. By Country/Sub-region
13. Middle East & Africa Implantable Cardiac Monitor Market Analysis and Forecast
13.1. Introduction
13.2. Key Findings
13.3. Market Value Forecast, by Arrhythmia, 2017–2031
13.3.1. Atrial Fibrillation
13.3.2. Bradycardia
13.3.3. Others
13.4. Market Value Forecast, by End-user, 2017–2031
13.4.1. Hospitals
13.4.2. Specialized Cardiac Centers
13.4.3. Ambulatory Surgical Centers
13.5. Market Value Forecast, by Country/Sub-region, 2017–2031
13.5.1. GCC Countries
13.5.2. South Africa
13.5.3. Rest of Middle East & Africa
13.6. Market Attractiveness Analysis
13.6.1. By Arrhythmia
13.6.2. By End-user
13.6.3. By Country/Sub-region
14. Competition Landscape
14.1. Market Player - Competitive Matrix (by Tier and Size of Companies)
14.2. Market Share Analysis, by Company (2022)
14.3. Company Profiles
14.3.1. Medtronic
14.3.1.1. Company Overview
14.3.1.2. Product Portfolio
14.3.1.3. SWOT Analysis
14.3.1.4. Financial Overview
14.3.1.5. Strategic Overview
14.3.2. Abbott
14.3.2.1. Company Overview
14.3.2.2. Product Portfolio
14.3.2.3. SWOT Analysis
14.3.2.4. Financial Overview
14.3.2.5. Strategic Overview
14.3.3. Biotronik
14.3.3.1. Company Overview
14.3.3.2. Product Portfolio
14.3.3.3. SWOT Analysis
14.3.3.4. Financial Overview
14.3.3.5. Strategic Overview
14.3.4. Angel Medical Systems, Inc.
14.3.4.1. Company Overview
14.3.4.2. Product Portfolio
14.3.4.3. SWOT Analysis
14.3.4.4. Financial Overview
14.3.4.5. Strategic Overview
14.3.5. Vectorious
14.3.5.1. Company Overview
14.3.5.2. Product Portfolio
14.3.5.3. SWOT Analysis
14.3.5.4. Financial Overview
14.3.5.5. Strategic Overview
14.3.6. Boston Scientific Corporation
14.3.6.1. Company Overview
14.3.6.2. Product Portfolio
14.3.6.3. SWOT Analysis
14.3.6.4. Financial Overview
14.3.6.5. Strategic Overview
14.3.7. Biosense Webster, Inc.
14.3.7.1. Company Overview
14.3.7.2. Product Portfolio
14.3.7.3. SWOT Analysis
14.3.7.4. Financial Overview
14.3.7.5. Strategic Overview
List of Tables
Table 01: Global Implantable Cardiac Monitor Market Size (US$ Mn) Forecast, by Arrhythmia, 2017–2031
Table 02: Global Implantable Cardiac Monitor Market Size (US$ Mn) Forecast, by End-user, 2017–2031
Table 03: Global Implantable Cardiac Monitor Market Size (US$ Mn) Forecast, by Region, 2017–2031
Table 04: North America Implantable Cardiac Monitor Market Size (US$ Mn) Forecast, by Country, 2017–2031
Table 05: North America Implantable Cardiac Monitor Market Size (US$ Mn) Forecast, by Arrhythmia, 2017–2031
Table 06: North America Implantable Cardiac Monitor Market Size (US$ Mn) Forecast, by End-user, 2017–2031
Table 07: Europe Implantable Cardiac Monitor Market Size (US$ Mn) Forecast, by Country/Sub-region, 2017–2031
Table 08: Europe Implantable Cardiac Monitor Market Size (US$ Mn) Forecast, by Arrhythmia, 2017–2031
Table 09: Europe Implantable Cardiac Monitor Market Size (US$ Mn) Forecast, by End-user, 2017–2031
Table 10: Asia Pacific Implantable Cardiac Monitor Market Size (US$ Mn) Forecast, by Country/Sub-region, 2017–2031
Table 11: Asia Pacific Implantable Cardiac Monitor Market Size (US$ Mn) Forecast, by Arrhythmia, 2017–2031
Table 12: Asia Pacific Implantable Cardiac Monitor Market Size (US$ Mn) Forecast, by End-user, 2017–2031
Table 13: Latin America Implantable Cardiac Monitor Market Size (US$ Mn) Forecast, by Country/Sub-region, 2017–2031
Table 14: Latin America Implantable Cardiac Monitor Market Size (US$ Mn) Forecast, by Arrhythmia, 2017–2031
Table 15: Latin America Implantable Cardiac Monitor Market Size (US$ Mn) Forecast, by End-user, 2017–2031
Table 16: Middle East & Africa Implantable Cardiac Monitor Market Size (US$ Mn) Forecast, by Country/Sub-region, 2017–2031
Table 17: Middle East & Africa Implantable Cardiac Monitor Market Size (US$ Mn) Forecast, by Arrhythmia, 2017–2031
Table 18: Middle East & Africa Implantable Cardiac Monitor Market Size (US$ Mn) Forecast, by End-user, 2017–2031
List of Figures
Figure 01: Global Implantable Cardiac Monitor Market Size (US$ Mn) and Distribution (%), by Region, 2022–2031
Figure 02: Global Implantable Cardiac Monitor Market Revenue (US$ Mn), by Arrhythmia, 2022
Figure 03: Global Implantable Cardiac Monitor Market Value Share, by Arrhythmia, 2022
Figure 04: Global Implantable Cardiac Monitor Market Revenue (US$ Mn), by End-user, 2022
Figure 05: Global Implantable Cardiac Monitor Market Value Share, by End-user, 2022
Figure 06: Global Implantable Cardiac Monitor Market Value Share, by Region, 2022
Figure 07: Global Implantable Cardiac Monitor Market Value (US$ Mn) Forecast, 2023–2031
Figure 08: Global Implantable Cardiac Monitor Market Value Share Analysis, by Arrhythmia, 2022–2031
Figure 09: Global Implantable Cardiac Monitor Market Attractiveness Analysis, by Arrhythmia, 2023–2031
Figure 10: Global Implantable Cardiac Monitor Market Value Share Analysis, by End-user, 2022–2031
Figure 11: Global Implantable Cardiac Monitor Market Attractiveness Analysis, by End-user, 2023–2031
Figure 12: Global Implantable Cardiac Monitor Market Value Share Analysis, by Region, 2022–2031
Figure 13: Global Implantable Cardiac Monitor Market Attractiveness Analysis, by Region, 2023–2031
Figure 14: North America Implantable Cardiac Monitor Market Value (US$ Mn) Forecast and Y-o-Y Growth (%), 2017–2031
Figure 15: North America Implantable Cardiac Monitor Market Attractiveness Analysis, by Country, 2023–2031
Figure 16: North America Implantable Cardiac Monitor Market Value Share Analysis, by Country, 2022–2031
Figure 17: North America Implantable Cardiac Monitor Market Value Share Analysis, by Arrhythmia, 2022–2031
Figure 18: North America Implantable Cardiac Monitor Market Value Share Analysis, by End-user, 2022–2031
Figure 19: North America Implantable Cardiac Monitor Market Attractiveness Analysis, by Arrhythmia, 2023–2031
Figure 20: North America Implantable Cardiac Monitor Market Attractiveness Analysis, by End-user, 2023–2031
Figure 21: Europe Implantable Cardiac Monitor Market Value (US$ Mn) Forecast and Y-o-Y Growth (%), 2017–2031
Figure 22: Europe Implantable Cardiac Monitor Market Attractiveness Analysis, by Country/Sub-region, 2023–2031
Figure 23: Europe Implantable Cardiac Monitor Market Value Share Analysis, by Country/Sub-region, 2022–2031
Figure 24: Europe Implantable Cardiac Monitor Market Value Share Analysis, by Arrhythmia, 2022–2031
Figure 25: Europe Implantable Cardiac Monitor Market Value Share Analysis, by End-user, 2022–2031
Figure 26: Europe Implantable Cardiac Monitor Market Attractiveness Analysis, by Arrhythmia, 2023–2031
Figure 27: Europe Implantable Cardiac Monitor Market Attractiveness Analysis, by End-user, 2023–2031
Figure 28: Asia Pacific Implantable Cardiac Monitor Market Value (US$ Mn) Forecast and Y-o-Y Growth (%), 2017–2031
Figure 29: Asia Pacific Implantable Cardiac Monitor Market Attractiveness Analysis, by Country/Sub-region, 2023–2031
Figure 30: Asia Pacific Implantable Cardiac Monitor Market Value Share Analysis, by Country/Sub-region, 2022–2031
Figure 31: Asia Pacific Implantable Cardiac Monitor Market Value Share Analysis, by Arrhythmia, 2022–2031
Figure 32: Asia Pacific Implantable Cardiac Monitor Market Value Share Analysis, by End-user, 2022–2031
Figure 33: Asia Pacific Implantable Cardiac Monitor Market Attractiveness Analysis, by Arrhythmia, 2023–2031
Figure 34: Asia Pacific Implantable Cardiac Monitor Market Attractiveness Analysis, by End-user, 2023–2031
Figure 35: Latin America Implantable Cardiac Monitor Market Value (US$ Mn) Forecast and Y-o-Y Growth (%), 2017–2031
Figure 36: Latin America Implantable Cardiac Monitor Market Attractiveness Analysis, by Country/Sub-region, 2023–2031
Figure 37: Latin America Implantable Cardiac Monitor Market Value Share Analysis, by Country/Sub-region, 2022–2031
Figure 38: Latin America Implantable Cardiac Monitor Market Value Share Analysis, by Arrhythmia, 2022–2031
Figure 39: Latin America Implantable Cardiac Monitor Market Value Share Analysis, by End-user, 2022–2031
Figure 40: Latin America Implantable Cardiac Monitor Market Attractiveness Analysis, by Arrhythmia, 2023–2031
Figure 41: Latin America Implantable Cardiac Monitor Market Attractiveness Analysis, by End-user, 2023–2031
Figure 42: Middle East & Africa Implantable Cardiac Monitor Market Size (US$ Mn) Forecast and Y-o-Y Growth (%), 2017–2031
Figure 43: Middle East & Africa Implantable Cardiac Monitor Market Attractiveness Analysis, by Country/Sub-region, 2023–2031
Figure 44: Middle East & Africa Implantable Cardiac Monitor Market Value Share Analysis, by Country/Sub-region, 2022–2031
Figure 45: Middle East & Africa Implantable Cardiac Monitor Market Value Share Analysis, by Arrhythmia, 2022–2031
Figure 46: Middle East & Africa Implantable Cardiac Monitor Market Value Share Analysis, by End-user, 2022–2031
Figure 47: Middle East & Africa Implantable Cardiac Monitor Market Attractiveness Analysis, by Arrhythmia, 2023–2031
Figure 48: Middle East & Africa Implantable Cardiac Monitor Market Attractiveness Analysis, by End-user, 2023–2031
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Implantable Cardiac Monitor Market
