Portland, OR, April 28, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global implantable cardiac monitors market generated $500.02 million in 2020, and is projected to reach $974.42 million by 2030, growing at a CAGR of 7.2% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Rise in the cases of atrial fibrillation among patients, increase in prevalence of myocardial infection, extensive adoption of sedentary and unhealthy lifestyle among people across the globe, and longevity and flexibility offered by this device are expected to drive the growth of the global implantable cardiac monitors market. On the other hand, extortionate cost of the device is predicted to impede the growth to some extent. However, surge in awareness about different treatment options for the management of cardiac disorders among patients is expected to provide remunerative opportunities for the growth of the growth of the industry.
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COVID-19 Scenario-
- The outbreak of COVID-19 has had an adverse impact on the growth of the global implantable cardiac monitors market, owing to the occurrence of lockdowns in numerous countries across the globe. Lockdowns led to the suspension of all routine implantable surgeries in various countries.
- In addition, high risk of cross infection during implant procedures further aggravated the demand for ICMs during the pandemic.
- However, the market is anticipated to recoup soon.
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The report offers a detailed segmentation of the global implantable cardiac monitors market based on indication, end-user and region.
Based on indication, the Cardiac Arrrythmias segment generated the highest market in 2020, garnering nearly half of the total market. The epilepsy and unexplained fall segment, on the other hand, is expected to cite the fastest CAGR of 8.3% during the forecast period.
Based on end-user, the hospitals and clinics segment held the majority share in 2020, accounting to more than three-fourths of the total market. The home settings segment, on the other hand, is projected to exhibit the fastest CAGR of 8.2% during the forecast period.
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Based on region, the market across North America held the lion’ share in 2020, holding two-fifths of the total market. The Asia-Pacific, on the other hand is anticipated to cite the fastest CAGR of 9.0% during the forecast period.
The key market players analyzed in the global implantable cardiac monitors market report include Koninklijke Philips N.V., LivaNova PLC, Medtronic plc, Abbott Laboratories, Biotronik SE & Co. KG, Boston Scientific Corporation, Edwards Lifescience Corporation, General Electric Company, Nihon Kohden Corporation and Phoenix Heart Center.
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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
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