20 Oct 2021
Posted in Medical Devices
Asia-Pacific to account for 30% of global implantable loop recorders market in 2021, says GlobalData
The Asia-Pacific (APAC) region is set to account for around 30% of the global implantable loop recorders market in 2021, driven by the growing number of healthcare facilities, rising prevalence of cardiovascular diseases and adoption of newer technologies, according to GlobalData, a leading data, and analytics company.
GlobalData’s latest report, ‘Implantable Loop Recorders (Cardiovascular) Global Market Analysis and Forecast model (COVID-19 Market Impact),’ reveals that Medtronic Plc, Abbott Laboratories and Biotronik SE & Co KG are the leading players in the APAC region, together accounting for more than 90% of the implantable loop recorders market in 2021.
Tanisha Verma, Senior Medical Devices Analyst at GlobalData, comments: “Within APAC, China accounts for more than 40% of the implantable loop recorders market in 2021. Driven by the growing healthcare infrastructure and rapid increase in the prevalence of cardiovascular diseases, the market in China is expected to grow during the forecast period, especially in the rural areas.”
The diagnosis of syncope remains a challenge and the knowledge of what occurs during a spontaneous syncopal episode is important in syncope evaluation. Implantable loop recorders are increasingly used in the assessment and treatment of syncope as they can effectively capture arrhythmic events. This is expected to drive higher adoption of implantable loop recorders.
Ms. Verma concludes: “Implantable loop recorders have gained popularity over conventional Holter monitoring systems and electrocardiogram as they allow prolonged monitoring and auto-activate when an arrhythmia occurs, allowing episodes to be captured independent of patient activation of the devices. Barriers such as high cost of the device is hindering the market’s growth in some APAC countries such as Taiwan, where Holter monitoring systems are preferred.”