Press release
Cardiac AI Monitoring and Diagnostics Market Global Opportunity Analysis and Forecast 2026 to 2035
Cardiac AI Monitoring and Diagnostics Market
Global Cardiac AI Monitoring and Diagnostics Market Size is valued at USD 1.4 Bn in 2024 and is predicted to reach USD 14.8 Bn by the year 2034 at an 27.0% CAGR during the forecast period for 2025-2034.
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The future of cardiology will depend on many new technologies, including artificial intelligence (AI), precision medicine and the Internet of Things (IoT). AI/ML has increasingly been used to detect and diagnose cardiac diseases.
Cardiac AI monitoring and diagnosis include using artificial intelligence (AI) technology in cardiology to help diagnose and monitor various heart diseases.
Incorporating advanced AI technologies will offer complete, reliable and accessible care, which can identify patients at an earlier stage of disease and offer the proper care to help save patients' lives. In addition, technology can improve clinical decision-making through real-time data analysis. Cardiac AI diagnostic solutions include AI-integrated hardware solutions, AI-based software solutions, AI-based cardiac monitoring solutions, AI-based ECG devices, etc.
The COVID-19 pandemic has highlighted the need for Artificial intelligence (Al) in Cardiology and has accelerated its adoption in hospitals. The impact has also surged the demand for AI solutions to improve the management of patients with cardiovascular disease.
Some of the prominent players in the Cardiac AI Monitoring and Diagnostics Market are:
• Aidoc
• Tempus Labs
• Canon, Inc.
• Circle Cardiovascular Imaging Inc.
• General Electric Company
• HeartFlow, Inc.
• iRhythm Technologies, Inc.
• Koninklijke Philips N.V.
• Siemens Healthineers AG
• Viz.ai
• Ultromics, Ltd.
• Cathworks
• Boston Scientific Corporation
• Other Prominent Players
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Market Dynamics:
Drivers:
The high prevalence of cardiovascular diseases globally, the growing need to improve accuracy in diagnosing heart diseases, the rising demand for effective and cutting-edge devices, and the adoption of advanced technologies in cardiac monitoring & diagnosis are some of the major factors contributing to the growth of the cardiac AI monitoring and diagnostics market.
The increasing burden of cardiovascular diseases increases the demand for early detection & diagnosis of cardiac diseases, which will propel business growth in the upcoming years. In addition, launching novel products with new features is expected to support market growth. Furthermore, integrating artificial intelligence (AI) in cardiovascular devices enhances patient care and reduces cardiac patient mortality.
Moreover, product innovations & launches, partnerships, collaborations, mergers and acquisitions, and funding are key strategies that players in the cardiac AI monitoring and diagnostics market adopt to improve their overall position in the market.
Challenges:
Maintaining data privacy is a big challenge in this field. Data protection involves properly handling sensitive data, including personal information or other non-personal data. There is still a lack of regulations on using patient health information generated from consumer devices by third-party companies. Confidentiality is critical to information transfer and sharing. Thus, data protection & privacy concerns are predicted to hamper the business expansion during the forecast period.
Regional Trends:
North America held the highest Cardiac AI Monitoring and Diagnostics Market revenue share in 2022 and is expected to continue its growth over the projection period. This is due to the fast adoption of cutting-edge technologies, well-established healthcare infrastructure, and the region's rising regulatory approvals of AI-based systems.
The Asia Pacific region is anticipated to rise fastest during the forecast period (2023 to 2031). This growth is due to various factors such as the growing heart diseases, the high demand for early disease diagnosis, developing healthcare infrastructure, and the growing collaborations & partnerships activities in this region.
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Key Developments In The Market:
• In March 2023, Aidoc, the leading provider of healthcare AI solutions, introduced its premier, first-of-its-kind cardiovascular AI solutions package. Aidoc's cardiovascular solutions automatically consolidate data, utilize AI to generate clinical insights for more effective diagnosis, and help prevent patients from being lost to follow-up, enabling a possible increase in downstream procedures.
• In March 2023, Canon Medical Systems supplied two Artificial Intelligence (AI) assisted, spectral, wide-detector CT scanners to Craigavon Area Hospital, stake of Southern Health and Social Care Trust in Northern Ireland, to improve stroke, cancer and cardiac imaging services.
• In October 2022, Aidoc partnered with Us2.ai to bring its FDA-cleared and CE Marked AI algorithm to analyze and interpret echocardiograms (echo) into its proprietary aiOSTM.
• In July 2022, Medtronic plc partnered with CathWorks to invest in innovative technologies that support physicians and patients from diagnosis to treatment.
• In July 2021, Canon Medical Systems collaborated with Cleerly to facilitate the simple and efficient use of cardiac computed tomography (CT) to offer a new standard of care for heart disease.
Market Segments
Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2023 to 2031 based on Product
• Software
• Hardware
Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2023 to 2031 based on Type
• Cardiac Diagnostics
o Imaging
o Electrocardiography-Based (ECG-Based)
o Others
• Cardiac Monitoring
Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2023 to 2031 based on Application
• Ischemic Heart Diseases/CAD
• Cardiac Arrhythmias
• Ischemic Stroke
• Others
Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2023 to 2031 based on End users
• Hospitals
• Diagnostic Centers
• Other End Users
Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2023 to 2031 based on Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
North America Cardiac AI Monitoring and Diagnostics Market Revenue (US$ Bn) by Country, 2023 to 2031
• U.S.
• Canada
Europe Cardiac AI Monitoring and Diagnostics Market Revenue (US$ Bn) by Country, 2023 to 2031
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe
Asia Pacific Cardiac AI Monitoring and Diagnostics Market Revenue (US$ Bn) by Country, 2023 to 2031
• India
• China
• Japan
• South Korea
• Australia & New Zealand
Latin America Cardiac AI Monitoring and Diagnostics Market Revenue (US$ Bn) by Country, 2023 to 2031
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa Cardiac AI Monitoring and Diagnostics Market Revenue (US$ Bn) by Country, 2023 to 2031
• GCC Countries
• South Africa
• Rest of Middle East & Africa
About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
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