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Artificial Intelligence In Cardiology Market Landscape to 2034: Key Forces Shaping the Next Decade of Growth
Artificial Intelligence In Cardiology Market
How Large Will the Artificial Intelligence In Cardiology Market Size By 2025?
The market for artificial intelligence in cardiology has seen exponential growth in the past few years. The market value is expected to increase from $1.97 billion in 2024 to $2.72 billion in 2025, indicating a compound annual growth rate (CAGR) of 37.9%. Factors contributing to this significant growth are an upsurge in heart disease cases, easy accessibility of big data, enhanced clinical decision making, the increasing emphasis on preventive cardiology and a shortage of cardiovascular specialists.
How Big Is the Artificial Intelligence In Cardiology Market Size Expected to Grow by 2029?
The market size for artificial intelligence in cardiology is predicted to experience remarkable expansion in the upcoming few years, and it is anticipated to reach $10.72 billion by 2029, flourishing at a compound annual growth rate (CAGR) of 41.0%. The increase during the forecast period might be due to the incorporation with electronic health records, an aging population, wearable gadgets, remote monitoring, worldwide telecardiology acceptance, and integrated cardiovascular imaging. Major trends in this forecast period would be the technological breakthroughs in cardiovascular diagnostics, enhancements in AI algorithms, the development of new drugs, and advancements in medical imaging.
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Which Key Market Drivers Powering Artificial Intelligence In Cardiology Market Expansion and Growth?
The significant prevalence of cardiovascular diseases is anticipated to boost the expansion of artificial intelligence within the cardiology market. Cardiovascular diseases include all ailments impacting the heart and blood vessels. Within cardiology, AI is leveraged to identify cardiovascular diseases, aiding in the interpretation of electrocardiograms (ECG) and detecting conditions like long QT syndrome and atrial fibrillation. Moreover, AI has the capacity to assess large quantities of data derived from electronic health records, mobile health apparatuses, and imaging data. For instance, in an article by the American Heart Association, a US-based nonprofit entity concentrating on heart-related medical research, around 19.1 million deaths were ascribed to cardiovascular diseases worldwide in 2022. Additionally, as reported by the Centers for Disease Control and Prevention, a US-based national public health institution in May 2023, the US observed an increase in mortality rate due to heart disease, rising from 659,041 in 2019 to 695,000 in 2021. Consequently, the significant prevalence of cardiovascular diseases around the globe is expected to stimulate growth in the artificial intelligence in the cardiology market.
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Which Fast-Growing Trends Are Poised to Disrupt the Artificial Intelligence In Cardiology Market?
One notable trend within the AI in cardiology market involves new, AI-driven cardiology products. Several major players within the AI in cardiology market are focusing their efforts on creating groundbreaking AI-enabled products for the cardiology field, with the intention of solidifying their market standing. A case in point is Eko Health, an American digital health firm, which in February 2023, introduced a digital stethoscope system named SENSORA designed to diagnose heart and lung ailments. SENSORA employs the most current applications of machine learning and artificial intelligence to spot structural murmurs, an indicator of valvular heart disease. This cutting-edge tool pairs one of the most universally used medical devices, a stethoscope, with the latest in machine learning, to facilitate the detection of cardiovascular diseases.
What Are the Emerging Segments in the Artificial Intelligence In Cardiology Market?
The artificial intelligence in cardiologymarket 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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Who Are the Global Leaders 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.
Which are the Top Profitable Regional Markets for the Artificial Intelligence In Cardiology Industry?
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
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