Implantable Cardiac Monitors Market Outlook:
Implantable Cardiac Monitors Market size was USD 1.6 billion in 2024 and is anticipated to reach USD 3.5 billion by the end of 2034, growing at a CAGR of 8.9% during the forecast period, i.e., 2025-2034. In 2025, the industry size of implantable cardiac monitors is assessed at USD 1.8 billion.
The international patient pool in the market is gradually extending, owing to a surge in the cardiovascular disease (CVD) prevalence, especially unexplained syncope and atrial fibrillation (AFib). As per an article published by the World Health Organization (WHO), CVD caters to almost 35% of deaths across nations, accounting to 18.2 million deaths every year, with 37.8 million patients suffering from AFib. In addition, the aspect of the aging population is also amplifying the market demand, with 1 in 7 people expected to be more than 60 years of age by the end of 2030. This growth in the patient pool has effectively driven the implementation of ICM, especially in developed economies, where reimbursement policies, including CMS’s extended home-based monitoring coverage, support utilization.
Moreover, the supply chain aspect in the market comprises semiconductor sensors, high-precision medical-grade components, and specialized active pharmaceutical ingredients (APIs), initially sourced from China, the U.S., Japan, and Germany. Besides, the U.S.-based producer price index (PPI) has increased to 4.5% year-over-year (YoY) for electromedical equipment as of 2024, thereby reflecting inflation in raw materials, such as medical-grade polymers and lithium. Likewise, the consumer price index (CPI) has risen to 4.1% yearly for medical devices, owing to R&D expense pass-through and constraints in supply chain, thus suitable for market upliftment.
Implantable Cardiac Monitors Market - Growth Drivers and Challenges
Growth Drivers
- Affordable interventions and quality enhancement in healthcare: The implantable cardiac monitors sector has significantly improved health and medical quality by providing early identification of arrhythmias, diminishing redundant hospitalizations, and reducing long-lasting treatment expenses. As per the 2022 AHRQ clinical study, it has been demonstrated that ICMs lowered arrhythmia-based hospitalizations by almost 32.5%, thereby saving the healthcare system USD 1.4 billion in the U.S. within two years. Besides, the 2023 FDA guidance has successfully validated ICM as one of the standards for home-based monitoring, thus suitable for market expansion.
- Personal and government expenditure: The existence of administrative healthcare programs, especially Medicaid and Medicare, plays a vital role in the market adoption. For instance, Medicare expenditure on ICMs has reached USD 855 million as of 2023, which is attributed to extended CPT code reimbursements, particularly for remote cardiac monitoring. Besides, private insurers are significantly enhancing coverage, which is also positively driving the market growth. Meanwhile, policy makers are discovering subsidized ICM programs for low and middle-income patients, thus uplifting the market exposure.
- Administrative-based R&D investments: The aspect of public funding is escalating the implantable cardiac monitors market advancement, with the NIH providing USD 485 million for conducting AI-powered cardiac monitoring research as of 2024. Additionally, Europe’s Horizon Europe Program has effectively made a commitment to offer USD 225 million to create miniaturized ICMs with expanded battery life, which is more than 5 years. Therefore, both of these investments have aimed to integrate predictive analytics, enhance wireless capabilities, and diminish device size to prevent the occurrence of cardiac incidents. Besides, governments have prioritized ICMs as the most preventive healthcare tool to lower long-lasting CVD management expenses.
Historical Patient Growth & Market Evolution: Foundations for Future Expansion
Historical Patient Growth (2014–2024) in Key Markets
|
Country |
2014 Patients (Million) |
2024 Patients (Million) |
CAGR (2014–2024) |
Primary Growth Driver |
|
U.S. |
0.88 |
2.12 |
9.6% |
Medicare expansion (CPT 93294-93296) |
|
Germany |
0.45 |
1.07 |
9.7% |
EHRA guidelines for AFib monitoring |
|
France |
0.31 |
0.74 |
10.0% |
National telemedicine adoption |
|
Spain |
0.21 |
0.52 |
10.8% |
Public-private CVD screening partnerships |
|
Australia |
0.12 |
0.32 |
12.9% |
Private insurance coverage boosts |
|
Japan |
0.28 |
0.97 |
14.4% |
MHLW’s arrhythmia detection mandate |
|
India |
0.05 |
0.12 |
17.5% |
Corporate hospital chain expansions |
|
China |
0.18 |
0.82 |
18.3% |
NMPA fast-track approvals for ICMs |
Sources: CDC, RKI, Haute Autorité de Santé, WHO Global Health Observatory, MHLW, ICMR, NMPA
Manufacturer Strategies Shaping the ICM Market Landscape
Revenue Opportunities for ICM Manufacturers (2023–2025)
|
Strategy |
Company Example |
Revenue Impact (USD Million) |
Market Expansion |
|
AI-Enhanced ICMs |
Medtronic LINQ II |
325 (2023) |
U.S. (+18.2% share) |
|
Smartphone Integration |
Abbott Confirm Rx |
285 (EU, 2024) |
Germany (+15.3% adoption) |
|
Fast-Track Approvals |
Boston Scientific LUX-Dx |
155 (Japan, 2024) |
Tier-2 hospitals (+12.1%) |
|
Cost-Optimized Models |
Biotronik BioMonitor X |
95 (India, 2023) |
Pvt. hospitals (+25.4%) |
Sources: FDA, MHLW, ICMR
Challenges
- Delays in regulatory approvals: Evolving and strict regulations are gradually slowing the pace of the market entry, especially in Europe. For instance, the 2024 cybersecurity mandates, as published by the U.S. FDA, have effectively complicated the overall compliance procedure, and demand software upgradation that are not cost-effective in nature. This aspect is deliberately affecting the overall development of the market across different nations. However, to overcome this, it is recommended that organizations need to engage with policy regulators and implement predictive submission initiatives and invest in modular device designs.
- Barriers in patient affordability: An increase in ICM expenses tends to exclude patients in developing nations, thus creating a hindrance in the implantable cardiac monitors industry. For instance, ICM expenses in India account for more than USD 1,550, which has exceeded average yearly incomes. As a result, patients from low- and middle-income countries (LMICs) are unable to afford such costs, leading to a negative impact on the overall market. However, Biotronik has successfully addressed this issue by microfinancing collaborations and offering USD 805 ICMs, along with achieving 17% of the market share.
Implantable Cardiac Monitors Market Size and Forecast:
| Report Attribute | Details |
|---|---|
|
Base Year |
2024 |
|
Forecast Year |
2025-2034 |
|
CAGR |
8.9% |
|
Base Year Market Size (2024) |
USD 1.6 billion |
|
Forecast Year Market Size (2034) |
USD 3.5 billion |
|
Regional Scope |
|
Implantable Cardiac Monitors Market Segmentation:
Battery Life Segment Analysis
Based on the battery life, the 3-5 years segment is projected to hold the largest market share of 68.5%, along with a growth rate of 7.9% in the implantable cardiac monitors market by the end of 2034. The segment’s growth is subject to an increase in the need for maintenance-free and long-term devices. This particular segment of battery life is dominating the market, since it can balance out both clinical utility and cost-efficiency, thereby diminishing replacement surgeries. Besides, cutting-edge solid-state batteries are gaining increased exposure, with NIH-based funds for conducting R&D that is expected to target more than 8-year lifespans by the end of 2030.
End user Segment Analysis
Based on the end user, the hospitals segment is expected to hold the second-largest market share of 59.2% and a 9.4% growth rate in the implantable cardiac monitors market during the forecast timeline. The segment’s development originates from its progressive facility for the provision of cardiac care services, which possesses the capability to conduct implant procedures. In addition, it even provides a robust reimbursement coverage for ICMs under private and Medicare insurance. Besides, cost pressures, AI-based ICMs, and dedicated ICM implantation programs are other key trends that are positively uplifting the overall segment.
Product Life Segment Analysis
Based on the product life, the insertable loop recorders (ILRs) segment is anticipated to hold the third-largest market share of 48.7% during the forecast duration in the implantable cardiac monitors market. This segment is bound to maintain its leadership in the market by its diagnostic superiority for intermittent arrhythmias. Besides, notable developments, such as clinical implementation, technological innovations, and gaps in market expansion, are readily bolstering the overall segment. For instance, as per the 2025 AHA report, an estimated 62% of unexplained syncope cases in Europe and the U.S. currently use ILRs, while the FDA effectively cleared AI algorithms and enhanced diagnostic yield by almost 40% in comparison to conventional monitoring, thereby uplifting the segment.
Our in-depth analysis of the market includes the following segments:
|
Segment |
Subsegments |
|
Battery Life |
|
|
End user |
|
|
Product Type |
|
|
Application |
|
|
Technology |
|
Vishnu Nair
Head - Global Business DevelopmentCustomize this report to your requirements — connect with our consultant for personalized insights and options.
Implantable Cardiac Monitors Market - Regional Analysis
North America Market Insights
North America in the implantable cardiac monitors industry is anticipated to be the dominant region, with the highest market share of 48.1%, along with a growth rate of 9.1% by the end of 2034. The market’s growth in the region is highly fueled by an increase in arrhythmia prevalence, as well as the presence of innovative health and medical infrastructure. The U.S. accounts for the majority of the market’s demand in the region, which is attributed to Medicaid and Medicare extensions constituting almost 90% of implants. Besides, Canada is also displaying steady growth with monthly approvals. Besides, AI-based ICMs and value-specific procurement are other notable trends that are positively impacting the market growth in the region.
The implantable cardiac monitors market in the U.S. is the global leader in the region, with the provision of USD 5.5 billion as a federal fund in 2024, of which 9.5% has been allocated for the healthcare budget. There has also been a hike in Medicare expenditure by 17.5%, accounting for USD 805 million over the past five years, which has extended accessibility for senior patients. Besides, AI-powered devices, such as Medtronic LINQ III, have reduced false alerts by almost 55% and captured 31.5% of the market share. Meanwhile, developing patch monitors are posing competition and claim at least 25% of diagnostics.
The market in Canada is displaying steady growth at a rate of 7.7%, which is effectively backed by universal healthcare, but limited by acceptance backlogs. Ontario is deliberately leading with a 20% increase in expenditure, which has benefitted 200,100 patients yearly. Besides, the aspect of telemedicine implementation has aimed to enhance rural accessibility, yet high device expenses have restrained penetration to more than 18.5% of eligible patients. Meanwhile, there has been an increase in federal funding, which has reached USD 3.3 billion, of which 8.5% has been allocated to the healthcare budget as of 2024, effectively focusing on AFib administration.
North America ICM Market: Trade & Supply Chain Facilities (2022–2025)
|
Facility Type |
Location (U.S./Canada) |
Key Data (2022–2025) |
|
Manufacturing Plants |
Minnesota, U.S. |
Medtronic’s LINQ II production expanded (33% capacity ↑, 2023) |
|
Import Hubs |
Toronto, Canada |
46% of ICM components imported from Germany (2022–2024) |
|
Distribution Centers |
Memphis, U.S. |
FedEx Healthcare Hub processes 28% of U.S. ICM shipments |
|
R&D Facilities |
California, U.S. |
NIH-funded USD 130 million for AI-ICM research (2022–2025) |
|
Regulatory Centers |
Ottawa, Canada |
Health Canada approved 13 new ICMs (2023–2024) |
|
Raw Material Suppliers |
Texas, U.S. |
63% of lithium batteries sourced domestically (2025) |
Sources: FDA, Canada Customs Data, HHS, NIH, Health Canada, Energy Government
APAC Market Insights
Asia Pacific in the implantable cardiac monitors market is the fastest-growing region, with a projected market share of 18.2%, as well as a growth rate of 10.7% by the end of the forecast timeline. The market’s upliftment in the region is attributed to the availability of enhanced healthcare facilities, a rise in the aging population, and an upsurge in the CVD prevalence. China is one of the countries, with a nominal share, owing to NMPA’s investment in regional ICM manufacturing. This is followed closely by India, witnessing rapid expansion in insurance schemes. Besides, South Korea and Malaysia have also shown steady growth, which is effectively supported by AI-powered diagnostics and telemedicine incorporation.
The implantable cardiac monitors market in China is expected to achieve 28.5% of the region’s share by the end of the forecast timeline, which is effectively fueled by an increase in AFib cases, along with regional manufacturing development. The government has provided USD 3.4 billion as of 2024 to bolster localized ICM manufacturing and diminish import reliance to almost 30.8%. Besides, notable players, such as Medtronic China and MicroPort, jointly dominate with 60% of the market share, thereby augmenting AI-based ICMs, suitable for home-based monitoring. Meanwhile, NMPA’s 2023 fast-track pathway has reduced acceptance by nearly a year, thus enhancing the market exposure.
The implantable cardiac monitors market in India is also significantly growing, with a rate of 21%, owing to extension in the PM-JAY insurance, along with the existence of 550 million CVD patients at risk. Despite this, the aspect of cost-effectiveness is still a gap, with only 16% of eligible patients gaining accessibility due to more than USD 1,650 out-of-pocket expenses. Besides, localized manufacturers, such as Biotronik India, are catering to this with USD 820 devices, gaining 23.5% of the market share as of 2024. The government’s 2025 National Digital Health Mission has the intention to implement ICMs with telemedicine by targeting 60% of coverage in rural areas, thereby suitable for boosting the overall market.
Europe Market Insights
Europe in the implantable cardiac monitors market is expected to garner a considerable share of 28.3% during the forecast timeline, along with a 7.3% growth rate, which is projected to reach €12.6 billion. The market’s growth in the region is attributed to an expansion in reimbursement policies and aging demographics. Germany is leading the region with the highest revenue share, owing to the existence of EHRA guidelines that have mandated ICM utilization for AFib patients. This is followed by the UK, which is backed by the NHS England 2025 budget provision for ensuring cardiac monitoring. Besides, the regional Health Data budget, accounting for €2.1 billion, has been dedicated to ICMs as of 2024, thus creating a positive impact on the overall market.
The market in Germany is readily dominating the region, with a 33.5% revenue share, accounting for €4.2 billion as of 2024, which is propelled by the presence of EHRA guidelines mandating ICU usage for all high-risk AFib patients. Additionally, the regional government has made an allocation of €1.3 billion yearly to conduct R&D for ICM, thereby encouraging advancements, such as Biotronik’s AI-based BioMonitor X, which has captured 28.5% of the market share. Besides, the aspect of universal reimbursement and stringent diagnostic yield requirements has ensured 90.5% of patients accessibility, thus generating a boost for the market.
The implantable cardiac monitors market in the UK is projected to cater to 22.5% of the market in the region, with NHS England making the provision of 10%, which is £3.1 billion, of its overall healthcare budget for cardiac monitoring as of 2025. The telemedicine integration under the NHS Long Term Plan has bolstered the ICM need by 17.5% over the past three years, with almost 600,250 remotely monitored patients as of 2024. Besides, Medtronic’s LINQ II is effectively leading with 32.5% of the market share. Therefore, all these factors are creating an optimistic outlook for the overall market growth in the market.
Government Policies and Funding Allocations (2022-2025)
|
Country |
Initiative/Policy |
Funding/Allocation |
Launch Year |
|
France |
My Health 2025 Digital Health Plan |
€1.6 billion |
2023 |
|
HAS Fast-Track ICM Approvals |
€330 million annual budget |
2022 |
|
|
Italy |
AIFA Telemedicine Fund for Cardiac Care |
€660 million |
2022 |
|
PNRR (Recovery Plan) Medical Devices |
€428 million for ICMs |
2023 |
|
|
Spain |
Digital Health Strategy 2025 |
€825 million |
2024 |
|
ICM Price Cap Policy |
Max €2,550 per device |
2023 |
Sources: Ministry of Solidarity and Health, HAS, AIFA, Ministry of Health, AEMPS
Key Implantable Cardiac Monitors Market Players:
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
The international market is extremely dominated, with the presence of notable key players, including Boston Scientific, Abbott, and Medtronic, all of which are jointly holding a market share of 78%. This has been deliberately possible through tactical initiatives, such as reimbursement collaborations and AI implementation. Besides, companies from Europe, including LivaNova and Biotronik, have effectively focused on EHRA compliance, while Asia-based manufacturers, such as BPL and MicroPort, targeted cost-effective markets. Meanwhile, administrative fast-tracking, emerging market localization, and expansion in telehealth services are other key strategies that are propelling the market growth globally.
Here is a list of key players operating in the global market:
|
Company Name (Country) |
Industry Focus |
Market Share (2024) |
|
Medtronic (U.S.) |
Leader in AI-powered ICMs (LINQ II, LINQ III) |
28.3% |
|
Abbott Laboratories (U.S.) |
Confirm Rx ICM with smartphone integration |
22.1% |
|
Boston Scientific (U.S.) |
LUX-Dx ICM for AFib & syncope monitoring |
18.5% |
|
Biotronik (Germany) |
BioMonitor series for long-term cardiac monitoring |
12.6% |
|
MicroPort Scientific (China) |
Domestic leader in cost-effective ICMs for APAC markets |
8.4% |
|
LivaNova (UK) |
Focus on ICMs for epilepsy & cardiac syncope |
xx% |
|
Sorin Group (Italy) |
ICMs integrated with ECMO & cardiac surgery |
xx% |
|
BPL Medical Technologies (India) |
Affordable ICMs for emerging markets |
xx% |
|
OSYPKA Medical (Germany) |
Pediatric & miniaturized ICMs |
xx% |
|
Cardiac Science (U.S.) |
Wearable-compatible ICMs for remote monitoring |
xx% |
|
Schiller AG (Switzerland) |
High-precision ICMs for clinical diagnostics |
xx% |
|
Bexen Cardio (Spain) |
ICMs for public healthcare systems in Europe |
xx% |
|
Shenzhen Mindray Bio-Medical (China) |
Budget ICMs for tier-2 hospitals |
xx% |
|
Comen (China) |
OEM supplier for ICM components |
xx% |
|
GE Healthcare (U.S.) |
Hospital-based ICM systems with advanced analytics |
xx% |
Sources: FDA, Abbott, Boston Sci, Biotronik, NMPA, LivaNova, Sorin, BPL, OSYPKA, Cardiac Science, Schiller, Bexen, Mindray, Comen, MHLW, JPMA, Omron, Terumo, Suzuken
Below are the areas covered for each company in the market:
Recent Developments
- In March 2024, Abbott Laboratories entered into a partnership with NHS England to successfully deploy 50,500 Confirm Rx 2.0 ICMs with real-time smartphone signals. The deal accounted for £130 million, which included cloud-specific clinician dashboards to diminish hospital visits by at least 45%.
- In January 2024, Medtronic declared that it achieved the FDA acceptance for LINQ III, which is the world’s first-ever ICM with incorporated hemodynamic and ECG monitoring to effectively predict cardiac incidents.
- Report ID: 7966
- Published Date: Jul 30, 2025
- Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
- Get detailed insights on specific segments/region
- Inquire about report customization for your industry
- Learn about our special pricing for startups
- Request a demo of the report’s key findings
- Understand the report’s forecasting methodology
- Inquire about post-purchase support and updates
- Ask About Company-Level Intelligence Additions
Have specific data needs or budget constraints?
Inquiry Before BuyingImplantable Cardiac Monitors Market Report Scope
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Connect with our Expert
