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Cardiovascular Digital Solutions Market Report 2024 - Cardiovascular Digital Solutions Market Size, Trends, Demand And Share
Cardiovascular Digital Solutions Market
According to The Business Research Company's, The cardiovascular digital solutions market size has grown rapidly in recent years. It will grow from $91.02 billion in 2023 to $100.81 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. The growth in the historic period can be attributed to rise in cardiovascular diseases, telemedicine adoption, data analytics for risk prediction, patient engagement initiatives, remote patient monitoring.
The cardiovascular digital solutions market size is expected to see rapid growth in the next few years. It will grow to $147.86 billion in 2028 at a compound annual growth rate (CAGR) of 10.1%. The growth in the forecast period can be attributed to artificial intelligence and machine learning integration, expanding role of digital biomarkers, remote cardiac rehabilitation programs, interoperability of healthcare systems, focus on real-time monitoring and alerts.. Major trends in the forecast period include blockchain for secure health data management, integration of ehrs and cardiovascular digital solutions, mobile health apps for cardiovascular management, focus on cardiovascular rehabilitation solutions, collaborations between tech companies and healthcare providers.
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Market Drivers and Trends:
The rise in cardiovascular disease prevalence worldwide is expected to propel the growth of the cardiovascular digital solutions market going forward. Heart and blood vessel problems are referred to as cardiovascular diseases (CVDs). It is a common phrase for diseases that damage the heart or blood vessels. Cardiovascular digital solutions aid in promoting patient autonomy by allowing patients to self-monitor health activities that decrease disease risk factors while encouraging adherence to these lifestyle changes. The use of these solutions decreased the morbidity and mortality of cardiovascular diseases. So, the surge in cases of cardiovascular diseases boosts the market for cardiovascular digital solutions. For instance, in 2022, according to a report shared by the World Heart Federation, a Switzerland-based non-profit organization of the global cardiovascular community, the projected number of deaths due to cardiovascular diseases is expected to increase, reaching over 22.2 million in 2030 and 32.3 million in 2050, up from an estimated 18.9 million in 2020. Therefore, the rise in cardiovascular disease prevalence worldwide is driving the cardiovascular digital solutions market
Product innovation is the key trend gaining popularity in the cardiovascular digital solutions market. Major companies operating in the cardiovascular digital solutions market are focused on developing innovative products to strengthen their position in the market. For instance, in February 2023, Eko Health, a US-based manufacturer of digital health solutions for heart and lung disease, launched the SENSORA Cardiac Disease Detection Platform. SENSORA is a cardiovascular disease detection platform that blends the most recent advances in applied machine learning with one of the world's most used medical devices: the stethoscope. Eko has invented a detection platform that might grow as the business creates applications for other cardiac disorders by using its digital stethoscopes to record and analyze electrical signals and heart sounds. SENSORA primarily incorporates AI that reliably recognizes structural murmurs, which indicate heart valve disease, and Care Pathway Analytics software that offers downstream insight and analytics of the care process through the healthcare system.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
iRythm Technologies Inc.; Apple Inc.; General Electric Company; Uber Diagnostics Private Limited; AlivCor Inc.; Verily Life Sciences; HeartFlow Inc.; Bardy Diagnostics Inc.; BioTelemetry Inc.; eviCore healthcare; Nanowear Inc; Cardiac Insight Inc.; Bay Labs Solutions; Change Healthcare; Medtronic PLC; BenevolentAI Limited; Cardiologs Technologies; Cardiopulmonary Corp.; Congenica Ltd.; Cyient Limited; Data4Cure Inc.; Deep Genomics Incorporated; DNAnexus Inc.; Emedgene Technologies Ltd.; Fabric Genomics Inc.; FDNA Inc.; Freenome Holdings Inc.; GNS Healthcare; IBM Watson Health; Illumina Inc.; Microsoft Corporation; Niramai Health Analytix; NVIDIA Corporation; Omron Healthcare Co. Ltd.
Cardiovascular Digital Solutions Market 2024 Key Insights:
• The cardiovascular digital solutions market will grow to $147.86 billion in 2028 at a compound annual growth rate (CAGR) of 10.1%.
• Surge In Cardiovascular Diseases Fuels Growth Of Cardiovascular Digital Solutions Market
• Product Innovation In Cardiovascular Digital Solutions Market
• North America was the largest region in the cardiovascular digital solutions market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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