How Has The Artificial Intelligence In Cardiology Market Size Evolved In Recent Years?
The artificial intelligence in cardiology market has seen considerable growth due to a variety of factors.
•The market size of artificial intelligence in cardiology has witnessed phenomenal growth in the previous years. It is forecasted to increase from $1.97 billion in 2024 to $2.72 billion in 2025, with a compound annual growth rate (CAGR) of 37.9%.
Factors contributing to growth during the historic period include the rise in cardiovascular disease cases, availability of large data sets, support in clinical decisions, an emphasis on preventive cardiology and a lack of cardiovascular specialists.
What Is The Projected Growth Of The Artificial Intelligence In Cardiology Market?
The artificial intelligence in cardiology market is expected to maintain its strong growth trajectory in upcoming years.
• The market for artificial intelligence in cardiology is projected to witness dynamic growth in the upcoming years, reaching a value of $10.76 billion in 2029, with a compound annual growth rate (CAGR) of 41.1%.
The surge during the forecast period can be credited to factors such as the adoption of electronic health records, a growing elderly population, the use of wearable devices, remote monitoring techniques, the worldwide acceptance of telecardiology, and integrated cardiovascular imaging. Dominant trends for the forecast period entail technology innovation in cardiovascular diagnostics, improvements in AI algorithms, the development of new drugs, and advances in medical imaging.
What Key Factors and Trends are Driving the Growth of the Artificial Intelligence In Cardiology Market?
The anticipated expansion of the artificial intelligence in cardiology market is primarily due to the increasing prevalence of cardiovascular diseases. These diseases, affecting both the heart and blood vessels, can be more accurately detected with the aid of artificial intelligence (AI) used in cardiology. AI aids in the interpretation of electrocardiogram (ECG) readings and the detection of illnesses such as long QT syndrome and atrial fibrillation. Additionally, AI has the capacity to assess immense amounts of data gathered from electronic health records, mobile health devices, and imaging data. To illustrate, the American Heart Association, a US-based nonprofit organization that concentrates on cardiovascular medical research, reported in an article published in January 2022 that about 19.1 million deaths globally were due to cardiovascular disease in 2022. Moreover, the Centers for Disease Control and Prevention, a US-based national public health agency, stated in May 2023 that the number of deaths due to heart disease in the US escalated from 659,041 in 2019 to 695,000 in 2021. Consequently, the escalating global prevalence of cardiovascular diseases is projected to push the growth of artificial intelligence in the cardiology market.
What are the Market Segments in the Artificial Intelligence In Cardiology Market?
The artificial intelligence in cardiology market covered in this report is segmented –
1) By Component: Hardware, Software Solutions, Services
2) By Application: Cardiac Arrhythmia, Stroke, Ischemic Heart Disease Or Coronary Artery Disease (CAD), Other Applications
3) By End-Use: Lifescience Companies, Healthcare Payers, Healthcare Providers
Subsegments:
1) By Hardware: Imaging Devices, Wearable Devices, Diagnostic Equipment
2) By Software Solutions: Cardiac Imaging Analysis Software, Predictive Analytics Tools, Patient Management Systems, Telemedicine Platforms
3) By Services: Consulting Services, Integration And Implementation Services, Maintenance And Support Services, Training And Education Services
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What Trends are Shaping the Artificial Intelligence In Cardiology Market?
Innovation in AI-driven cardiology products is a leading trend in the AI in cardiology market. Significant players in this market are striving to develop groundbreaking AI-based cardiology products to consolidate their market position. For example, in February 2023, a digital healthcare company from the US, Eko Health, unveiled SENSORA, an AI-enhanced digital stethoscope platform designed to detect heart and lung diseases. Leveraging the cutting-edge AI and machine learning technologies, SENSORA can detect structural murmurs, which signifies valvular heart disease. By merging the stethoscope, one of the most universally utilized medical devices, with the newest advancements in machine learning, SENSORA is able to detect cardiovascular diseases.
Who Are the Key Players in the Artificial Intelligence In Cardiology Market?
Major companies operating in the artificial intelligence in cardiology market include:
• Microsoft Corporation
• International Business Machines Corporation
• Siemens Healthineers
• Koninklijke Philips
• Tempus Labs Inc.
• Ultromics Ltd
• Bay Labs
• Cleerly Inc.
• RSIP Vision Ltd.
• Idoven
• Cardiologs Technologies Inc.
• Viz.ai
• Aidoc
• Arterys Inc.
• Zebra Medical Vision
• Vista.ai
• AliveCor
• DiA Imaging Analysis
• Eko Health Inc.
• Cardiomatics
• UltraSight
• Anumana Inc.
• Cardiai Inc.
What are the Regional Insights into the Artificial Intelligence In Cardiology Market?
North America was the largest region in the artificial intelligence in cardiology market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence in cardiology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
