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. 

MARKET OVERVIEW- GLOBAL IMPLANTABLE CARDIAC MONITORS MARKET

MARKET DRIVERS

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. 

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MARKET RESTRAINTS

The availability of alternative mode of treatment and inflated cost of device is major factor restrain the implantable cardiac device monitor market growth.

MARKET OPPORTUNITY

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.

MARKET GROWTH CHALLENGES

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.

CUMULATIVE GROWTH ANALYSIS

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. 

MARKET SEGMENTAL OVERVIEW

The global implantable cardiac monitors market comprises of different market segment like indication, end users and geography. 

IMPLANTABLE CARDIAC MONITORS MARKET BY INDICATION

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. 

IMPLANTABLE CARDIAC MONITORS MARKET BY END-USER

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.

IMPLANTABLE CARDIAC MONITORS MARKET BY GEOGRAPHY

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.

COMPETITIVE LANDSCAPE ANALYSIS 

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.

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