The cardiac ai monitoring and diagnostics global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Cardiac AI Monitoring And Diagnostics Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
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 in the historic period can be attributed to aging population demographics, rise in remote patient monitoring, increased healthcare expenditure, clinical research and validation studies, focus on preventive healthcare.
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 growth in the forecast period can be attributed to expansion of wearable and IoT devices, increasing adoption of telemedicine and remote monitoring, integration of big data analytics and predictive modeling, focus on patient-centered care and remote patient engagement, healthcare infrastructure development. Major trends in the forecast period include integration of AI with wearable devices, personalized risk assessment and treatment planning, predictive analytics for cardiovascular events, integration of multimodal data sources, interoperability and data integration standards.
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Scope Of Cardiac AI Monitoring And Diagnostics Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Cardiac AI Monitoring And Diagnostics Market Overview
Market Drivers –
The growing prevalence of cardiovascular diseases is expected to propel the growth of cardiac AI monitoring and diagnostics going forward. Cardiovascular diseases (CVDs) are a set of illnesses of the heart and blood arteries, comprising cerebrovascular disease, coronary heart disease, rheumatic heart disease, and others. Cardiac AI monitoring and diagnostics help in early diagnosis, risk assessment, and tailored therapy of cardiovascular illnesses, resulting in better patient outcomes. For instance, in May 2023, according to the Centers for Disease Control and Prevention, a US-based national public health agency, the number of people who died from heart disease in the US increased from 690,882 in 2020 to 695,000 in 2021. Therefore, the growing prevalence of cardiovascular diseases is driving the cardiac AI monitoring and diagnostics market.
Market Trends –
Major companies operating in the cardiac AI monitoring and diagnostics market are focused on developing technology-based medical devices, such as artificial intelligence-based implantable cardiac monitors, to strengthen their position in the market. Artificial intelligence-based implantable cardiac monitors are devices that constantly track cardiac function. For instance, in May 2023, Biotronik, a Germany-based cardiovascular biomedical research and technology company, announced that the US Food and Drug Administration (FDA) had approved the BIOMONITOR IV implantable cardiac monitor (ICM). The BIOMONITOR IV implantable cardiac monitor (ICM) uses BIOTRONIK’s innovative, AI-powered SmartECG algorithm, which contains advanced algorithms that eliminate 86% of all false identifications while maintaining 98% of real episodes. This revolutionary technology improves detection accuracy for healthcare professionals, minimizing false positive warnings and assisting them in making quick and precise diagnoses of certain cardiac problems. Aside from SmartECG technology, BIOMONITOR IV is the first ICM to distinguish between premature ventricular contractions (PVCs) and premature atrial contractions (PACs).
The cardiac ai monitoring and diagnostics market covered in this report is segmented –
1) By Type: Cardiac Diagnostics, Cardiac Monitoring
2) By Product: Software, Hardware
3) By Application: Ischemic Heart Diseases Or Coronary Artery Disease (CAD), Cardiac Arrhythmias, Ischemic Stroke, Other Applications
4) By End Users: Hospitals, Diagnostic Centers, Other End Users
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Regional Insights –
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.
Key Companies –
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.
Table of Contents
1. Executive Summary
2. Cardiac AI Monitoring And Diagnostics Market Report Structure
3. Cardiac AI Monitoring And Diagnostics Market Trends And Strategies
4. Cardiac AI Monitoring And Diagnostics Market – Macro Economic Scenario
5. Cardiac AI Monitoring And Diagnostics Market Size And Growth
…..
27. Cardiac AI Monitoring And Diagnostics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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