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Surge In Cardiovascular Diseases Fuels Growth Of Cardiovascular Digital Solutions Market: Key Factor Driving The Growth In The Cardiovascular Digital Solutions Market
Cardiovascular Digital Solutions Market Share
What Is the Expected Cardiovascular Digital Solutions Market Size During the Forecast Period?
The market size for cardiovascular digital solutions has been experiencing robust growth in the past few years. The forecast suggests it will expand from a worth of $98.23 billion in 2024 to $108.04 billion in 2025, demonstrating a Compound Annual Growth Rate (CAGR) of 10.0%. Factors such as an increase in cardiovascular diseases, the adoption of telemedicine, the use of data analytics for risk assessment, initiatives to enhance patient engagement, and remote patient monitoring have all contributed to this historic period of growth.
Quick acceleration in growth is anticipated for the cardiovascular digital solutions market in the coming years, surging to a valuation of $161.57 billion in 2029 with a compound annual growth rate (CAGR) of 10.6%. The predicted escalation over the projection period can be credited to the amalgamation of artificial intelligence and machine learning, the increasing impact of digital biomarkers, the proliferation of remote cardiac rehabilitation initiatives, the harmonisation of healthcare systems, and the emphasis on immediate monitoring and notifications. In the forecast timeframe, significant trends to watch involve the use of blockchain for the protection of health data, the synthesis of EHRs with cardiovascular digital solutions, the rise in mobile health applications for cardiovascular management, the focus on cardiovascular rehabilitative solutions, and partnerships between technology firms and healthcare providers.
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What Are the High-Growth Segments in the Cardiovascular Digital Solutions Market?
The cardiovascular digital solutions market covered in this report is segmented -
1) By Components: Devices, Software
2) By Services: Unobtrusive Testing, CVD Health Informatics, Cardiac Rehab Programs, Other Services
3) By Deployment: Cloud-Based, On-Premise
4) By End-Use: Hospitals And Clinics, Ambulatory Care Centers, Other End-Users
Subsegments:
1) By Devices: Wearable Devices, Implantable Devices, Remote Monitoring Devices
2) By Software: Cardiac Monitoring Software, Data Analytics Platforms, Telehealth Solutions, Patient Management Software
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What Key Drivers Are Expected to Influence Future Cardiovascular Digital Solutions Market Growth?
The global cardiovascular digital solutions market is anticipated to expand due to the increasing prevalence of cardiovascular disease. Cardiovascular diseases (CVDs) encompass heart and blood vessel disorders. They are a popular term for conditions that harm the heart or blood vessels. Cardiovascular digital solutions aim to enhance patient self-sufficiency by enabling individuals to monitor their health activities that reduce disease risk factors while facilitating compliance with lifestyle modifications. This use of digital solutions has reduced the rates of morbidity and mortality linked to cardiovascular diseases. Consequently, the rise in cardiovascular disease cases prompts a growth in the cardiovascular digital solutions market. For example, in March 2024, data from the Office for Health Improvement and Disparities, a UK government department, showed that in 2023, about 1,862,500 individuals (3%) in England were diagnosed with coronary heart disease by GPs. As such, the worldwide escalation in cardiovascular disease incidence fuels the cardiovascular digital solutions market's expansion.
Which Companies Hold the Largest Share Across Different Cardiovascular Digital Solutions Market Segments?
Major companies operating in the cardiovascular digital solutions market include 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.
What Trends Are Driving Growth in The Cardiovascular Digital Solutions Market?
The cardiovascular digital solutions market is witnessing a key trend, product innovation, with major companies striving to create novel products to fortify their market standing. Eko Health, an American firm specializing in digital health solutions for heart and lung diseases, exemplified this in February 2023 by launching the SENSORA Cardiac Disease Detection Platform. SENSORA merges applied machine learning advancements with one of the most widely used medical devices, the stethoscope, to create a detection platform that could expand as the company develops apps targeting other heart-related complications. By utilizing its digital stethoscopes to record and interpret electrical signals and heart sounds, Eko's SENSORA chiefly incorporates AI capable of reliably identifying structural murmurs indicative of heart valve disease. Additionally, it offers Care Pathway Analytics software that provides a comprehensive view into the care process within the healthcare system via downstream insight and analytics.
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What Are the Emerging Geographies for The Cardiovascular Digital Solutions Market Growth?
North America was the largest region in the cardiovascular digital solutions market in 2024. Asia-Pacific is expected to be the fastest-growing region in the cardiovascular digital solutions market report during the forecast period. The regions covered in the cardiovascular digital solutions market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Cardiovascular Digital Solutions Market?
2. What is the CAGR expected in the Cardiovascular Digital Solutions Market?
3. What Are the Key Innovations Transforming the Cardiovascular Digital Solutions Industry?
4. Which Region Is Leading the Cardiovascular Digital Solutions Market?
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