Implantable Loop Recorders Market to Hit USD 2.9 Billion by 2032

Implantable loop recorders market size is projected to expand at an 8.2% CAGR from 2024 to 2032. The rising cases of cardiac arrhythmias and related disorders, coupled with the increasing aging population, are driving the demand for implantable loop recorders (ILRs) for long-term cardiac monitoring. As per the CDC, 12.1 million people in the U.S. will have atrial fibrillation (AFib) by 2030, which will fuel the product demand.

The implantable loop recorders market is witnessing significant advancements in technology, such as miniaturization and wireless connectivity, enhancing the functionality and convenience of ILRs, and leading to wider adoption. The growing emphasis on preventive healthcare and early detection of heart conditions is also driving the appeal of these loop recorders. The expanding indications for ILRs beyond arrhythmia detection, such as syncope and cryptogenic stroke, along with supportive reimbursement policies and increasing healthcare expenditure, will complement industry growth.

The implantable loop recorders industry is segregated into product type, application, end-use, and region. Based on product type, the industry size from the manual recorders segment will depict an 8.5% growth rate between 2024 and 2032. The affordability and simplicity of manual ILRs make them accessible to a broader patient population. The reliability and accuracy of manual recording methods also ensure effective monitoring of cardiac arrhythmias. The surging preference for non-invasive and patient-friendly monitoring solutions will further boost the segment's growth.

The implantable loop recorders market from the cardiac syncope application segment is estimated to rise at a 7.9% CAGR through 2032. The increasing incidence of cardiac syncope and related conditions is driving the demand for continuous cardiac monitoring solutions. ILRs offer long-term monitoring capabilities, enabling the detection of arrhythmias and syncope events, thus aiding in accurate diagnosis and treatment planning. The advancements in ILR technology are further improving detection sensitivity and diagnostic accuracy.

The implantable loop recorders market in Europe is projected to expand at a 7.7% CAGR from 2024 to 2032, owing to the rising aging population. The growing incidences of cardiac arrhythmias and related conditions are spurring the demand for ILRs across the region. The presence of favorable healthcare infrastructure and reimbursement policies is making way for significant advances in ILR devices, enhancing their accuracy and reliability. The increasing awareness and acceptance of cardiac monitoring technologies among healthcare professionals and patients will also boost the regional market expansion.

Source: https://www.gminsights.com/industry-analysis/implantable-loop-recorders-market