- Atrial Fibrillation
- Cardiac Arrhythmia
- Cardiac Syncope
- Stroke
- Others
Implantable Loop Recorders Market size was valued at USD 1,273.6 million in 2023 and is poised to grow at a CAGR of 4.9% from 2024 to 2030. The Implantable Loop Recorder (ILR) market refers to the industry involved in producing, distributing, and selling implantable loop recorders, which are medical devices used to monitor and record the heart's electrical activity over extended periods. These devices are typically used for patients who experience infrequent symptoms related to abnormal heart rhythms (arrhythmias) that are difficult to diagnose using traditional methods. The market growth can be attributed to various factors, including ongoing advancements in implantable loop recorder (ILR) technology, increasing prevalence of cardiac arrhythmias, rising demand for remote monitoring solutions, growing awareness about cardiac health, and the continual growth of healthcare expenditure, among other contributing factors. The demand for efficient diagnostic and monitoring methods to identify and treat arrhythmias growing owing to the ageing global population and a rising incidence of cardiovascular disease. For instance, according to the American Heart Association, Inc., approximately 2 to 6 million Americans suffer from atrial fibrillation, and by 2050, the number is anticipated to rise to 6 to 16 million. Hence ILRs are becoming an essential device in cardiac care. The growth of the market will be hindered by challenges such as the limited availability of early detection methods, the high expense associated with devices, and the inaccuracies found in non-contact implantable loop recorders.
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The increasing prevalence of heart disease is boosting the demand for implantable loop recorders used in cardiovascular care. For instance, in England, approximately 6.4 million people are projected to have cardiovascular disease in 2022, as per the British Heart Foundation's January 2022 Factsheet. Additionally, the American Heart Association reported a heart failure prevalence rate in Europe of between 1% and 2% in June 2021. These rising rates of cardiac disorders are expected to drive up the need for implantable loop recorders, which monitor heart rhythms, thereby stimulating market growth. Advancements in technology are also contributing to this growth. RhythMedix, a company specializing in remote cardiac monitoring, recently introduced its latest RhythmStar wearable device equipped with built-in 4G cellular connectivity. This technology enables quick ECG analysis and reporting of cardiac irregularities. Furthermore, Boston Scientific's acquisition of Preventice Solutions for USD 925 million in January 2021 expanded its cardiac rhythm management and electrophysiology business, underscoring the industry's technological evolution.
The global implantable loop recorders market was estimated at USD 1,273.6 million in 2023 and is expected to grow at a CAGR of 4.9% from 2024 to 2030.
The leading players in the implantable loop recorders market are Medtronic plc, Biotronik AG, Abbott Laboratories, Angel Medical Systems, Inc., Boston Scientific Corporation, Koninklijke Philips N.V, Zoll Medical Corporation, and SunTech Medical Inc.
“North America” has the largest share of the implantable loop recorders market.
The market growth can be attributed to various factors, including ongoing advancements in implantable loop recorder (ILR) technology, increasing prevalence of cardiac arrhythmias, rising demand for remote monitoring solutions, growing awareness about cardiac health, and the continual growth of healthcare expenditure, among other contributing factors.
1.Executive Summary |
2.Global Implantable Loop Recorders Market Introduction |
2.1.Global Implantable Loop Recorders Market - Taxonomy |
2.2.Global Implantable Loop Recorders Market - Definitions |
2.2.1.Indication |
2.2.2.End User |
2.2.3.Region |
3.Global Implantable Loop Recorders Market Dynamics |
3.1. Drivers |
3.2. Restraints |
3.3. Opportunities/Unmet Needs of the Market |
3.4. Trends |
3.5. Product Landscape |
3.6. New Product Launches |
3.7. Impact of COVID 19 on Market |
4.Global Implantable Loop Recorders Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
4.3. Market Opportunity Analysis |
5.Global Implantable Loop Recorders Market By Indication, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
5.1. Atrial Fibrillation |
5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.1.3. Market Opportunity Analysis |
5.2. Cardiac Arrhythmia |
5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.2.3. Market Opportunity Analysis |
5.3. Cardiac Syncope |
5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.3.3. Market Opportunity Analysis |
5.4. Stroke |
5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.4.3. Market Opportunity Analysis |
5.5. Others |
5.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
5.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.5.3. Market Opportunity Analysis |
6.Global Implantable Loop Recorders Market By End User, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
6.1. Hospitals |
6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.1.3. Market Opportunity Analysis |
6.2. Cardiac Centers |
6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.2.3. Market Opportunity Analysis |
6.3. Ambulatory Surgical Centers |
6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.3.3. Market Opportunity Analysis |
7.Global Implantable Loop Recorders Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
7.1. North America |
7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.1.3. Market Opportunity Analysis |
7.2. Europe |
7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.2.3. Market Opportunity Analysis |
7.3. Asia Pacific (APAC) |
7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.3.3. Market Opportunity Analysis |
7.4. Middle East and Africa (MEA) |
7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.4.3. Market Opportunity Analysis |
7.5. Latin America |
7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.5.3. Market Opportunity Analysis |
8.North America Implantable Loop Recorders Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
8.1. Indication Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
8.1.1.Atrial Fibrillation |
8.1.2.Cardiac Arrhythmia |
8.1.3.Cardiac Syncope |
8.1.4.Stroke |
8.1.5.Others |
8.2. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
8.2.1.Hospitals |
8.2.2.Cardiac Centers |
8.2.3.Ambulatory Surgical Centers |
8.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
8.3.1.United States of America (USA) |
8.3.2.Canada |
9.Europe Implantable Loop Recorders Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
9.1. Indication Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.1.1.Atrial Fibrillation |
9.1.2.Cardiac Arrhythmia |
9.1.3.Cardiac Syncope |
9.1.4.Stroke |
9.1.5.Others |
9.2. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.2.1.Hospitals |
9.2.2.Cardiac Centers |
9.2.3.Ambulatory Surgical Centers |
9.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.3.1.Germany |
9.3.2.France |
9.3.3.Italy |
9.3.4.United Kingdom (UK) |
9.3.5.Spain |
10.Asia Pacific (APAC) Implantable Loop Recorders Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
10.1. Indication Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.1.1.Atrial Fibrillation |
10.1.2.Cardiac Arrhythmia |
10.1.3.Cardiac Syncope |
10.1.4.Stroke |
10.1.5.Others |
10.2. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.2.1.Hospitals |
10.2.2.Cardiac Centers |
10.2.3.Ambulatory Surgical Centers |
10.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.3.1.China |
10.3.2.India |
10.3.3.Australia and New Zealand (ANZ) |
10.3.4.Japan |
10.3.5.Rest of APAC |
11.Middle East and Africa (MEA) Implantable Loop Recorders Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
11.1. Indication Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.1.1.Atrial Fibrillation |
11.1.2.Cardiac Arrhythmia |
11.1.3.Cardiac Syncope |
11.1.4.Stroke |
11.1.5.Others |
11.2. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.2.1.Hospitals |
11.2.2.Cardiac Centers |
11.2.3.Ambulatory Surgical Centers |
11.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.3.1.GCC Countries |
11.3.2.South Africa |
11.3.3.Rest of MEA |
12.Latin America Implantable Loop Recorders Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
12.1. Indication Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.1.1.Atrial Fibrillation |
12.1.2.Cardiac Arrhythmia |
12.1.3.Cardiac Syncope |
12.1.4.Stroke |
12.1.5.Others |
12.2. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.2.1.Hospitals |
12.2.2.Cardiac Centers |
12.2.3.Ambulatory Surgical Centers |
12.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.3.1.Brazil |
12.3.2.Mexico |
12.3.3.Rest of LA |
13. Competition Landscape |
13.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
13.2.1.Medtronic plc |
13.2.2.Biotronik AG |
13.2.3.Abbott Laboratories |
13.2.4.Angel Medical Systems, Inc. |
13.2.5.Boston Scientific Corporation |
13.2.6.Koninklijke Philips N.V |
13.2.7.Zoll Medical Corporation |
13.2.8.SunTech Medical Inc |
14. Research Methodology |
15. Appendix and Abbreviations |