Cardiac AI Monitoring and Diagnostics Global Market Report 2024

The cardiac AI monitoring and diagnostics market size has grown exponentially in recent years. It will grow from $1.35 billion in 2023 to $1.71 billion in 2024 at a compound annual growth rate (CAGR) of 26.6%. The growth observed in the historical period can be attributed to various factors, including demographic changes with an aging population, an increase in remote patient monitoring solutions, higher healthcare expenditure, the execution of clinical research and validation studies, and a heightened focus on preventive healthcare measures.

The cardiac AI monitoring and diagnostics market size is expected to see exponential growth in the next few years. It will grow to $4.37 billion in 2028 at a compound annual growth rate (CAGR) of 26.4%. The anticipated growth in the forecast period can be attributed to various factors, including the expansion of wearable and IoT (Internet of Things) devices, an increasing adoption of telemedicine and remote monitoring solutions, integration of big data analytics and predictive modeling in cardiac care, a focus on patient-centered care and remote patient engagement initiatives, and ongoing healthcare infrastructure development. Key trends expected in the forecast period encompass the integration of AI with wearable devices, personalized risk assessment and treatment planning leveraging AI capabilities, the use of predictive analytics for forecasting cardiovascular events, integration of multimodal data sources for comprehensive analysis, and the emphasis on interoperability and data integration standards within the healthcare ecosystem.

The increasing prevalence of cardiovascular diseases is anticipated to drive the growth of the cardiac AI monitoring and diagnostics market in the foreseeable future. Cardiovascular diseases encompass a range of conditions affecting the heart and blood vessels, including coronary artery disease, stroke, and heart failure. Cardiac AI monitoring and diagnostics play a crucial role in the early detection, risk assessment, and personalized treatment of these conditions, ultimately leading to improved patient outcomes. For instance, data from the Centers for Disease Control and Prevention (CDC) in May 2023 revealed a concerning rise in the number of deaths attributed to heart disease in the United States, underlining the pressing need for advanced cardiac monitoring and diagnostic solutions.

Leading companies operating in the cardiac AI monitoring and diagnostics market are directing their efforts towards the development of technology-driven medical devices, such as artificial intelligence-based implantable cardiac monitors, to solidify their position in the market. Artificial intelligence-based implantable cardiac monitors represent a groundbreaking innovation in cardiovascular healthcare, offering continuous and accurate monitoring of cardiac function. For example, in May 2023, Biotronik, a renowned cardiovascular biomedical research and technology company based in Germany, announced the FDA approval of its BIOMONITOR IV implantable cardiac monitor (ICM). Equipped with BIOTRONIK's cutting-edge SmartECG algorithm powered by artificial intelligence, the BIOMONITOR IV ICM sets a new standard in cardiac monitoring accuracy. By leveraging advanced algorithms, the SmartECG technology significantly reduces false identifications while maintaining a high detection rate for genuine cardiac episodes. This enhancement in detection accuracy empowers healthcare professionals to make prompt and precise diagnoses, thus optimizing patient care and outcomes. Furthermore, the BIOMONITOR IV ICM distinguishes between different types of cardiac contractions, such as premature ventricular contractions (PVCs) and premature atrial contractions (PACs), further enhancing its diagnostic capabilities and clinical utility.

In January 2022, Koninklijke Philips N.V., a healthcare technology company headquartered in the Netherlands, completed the acquisition of Cardiologs Technologies SAS, a medical technology company based in France, for an undisclosed sum. This strategic move positions Cardiologs to enhance Philips' cardiac monitoring and diagnostics portfolio through the integration of innovative software solutions, electrocardiogram (ECG) analysis, and reporting services. Cardiologs Technologies SAS specializes in optimizing cardiac diagnostics through the utilization of artificial intelligence (AI) and cloud technologies, aligning with Philips' commitment to advancing healthcare through cutting-edge innovations.

Major companies operating in the cardiac ai monitoring and diagnostics market report are Abbott Laboratories, Medtronic plc, Siemens Healthineers AG, Koninklijke Philips N.V., GE HealthCare Technologies Inc., Boston Scientific Corporation, ZOLL Medical Corporation, Canon Medical Systems Corporation, Biotronik SE & Co. KG, iRhythm Technologies Inc., Tempus Labs Inc., Viz.ai Inc., HeartFlow Inc., Aidoc, Eko Devices Inc., CardioFocus Inc., Circle Cardiovascular Imaging Inc., Ultromics Limited., Cathworks, Medicalgorithmics S.A., Nanox.AI Ltd, Cardiac Insight Inc., CardioSecur GmbH, Cardionomic Inc., HeartSciences, CardioComm Solutions Inc., CardioDiagnostics Inc.

North America was the largest region in the cardiac AI monitoring and diagnostics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cardiac ai monitoring and diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the cardiac ai monitoring and diagnostics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Cardiac AI monitoring and diagnostics involve the application of artificial intelligence (AI) technologies in the field of cardiology to monitor and diagnose various cardiovascular conditions. This utilizes advanced algorithms and machine learning techniques to analyze data from cardiac monitoring devices, such as electrocardiograms (ECGs).

The main categories of cardiac AI monitoring and diagnostics are cardiac diagnostics and cardiac monitoring. Cardiac diagnostics encompass methods and procedures used to identify heart conditions associated with unhealthy or pathologic heart function. The products in this category include software and hardware used in applications such as ischemic heart diseases or coronary artery disease (CAD), cardiac arrhythmias, ischemic stroke, and others. End users of these cardiac AI solutions include hospitals, diagnostic centers, and various healthcare facilities.

The cardiac AI monitoring and diagnostics research report is one of a series of new reports that provides cardiac AI monitoring and diagnostics market statistics, including the cardiac AI monitoring and diagnostics industry's global market size, regional shares, competitors with an cardiac AI monitoring and diagnostics market share, detailed cardiac AI monitoring and diagnostics market segments, market trends and opportunities, and any further data you may need to thrive in the cardiac AI monitoring and diagnostics industry. This cardiac AI monitoring and diagnostics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The cardiac AI monitoring and diagnostics market consists of revenues earned by entities by providing services such as ST-segment monitoring, arrhythmia detection, heart rate variability analysis, risk stratification, and echocardiogram interpretation. The market value includes the value of related goods sold by the service provider or included within the service offering. The cardiac AI monitoring and diagnostics market also includes sales of echocardiography devices, cardiac MRI and CT analysis, electrocardiogram (ECG) analysis tools, and wearable devices. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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