Overview and Scope
Cardiovascular digital solutions refer to the utilization of technological solutions with personalized approaches to cardiovascular diagnosis and treatment by using wearables, smartphones, software, sensors, and artificial intelligence. These are used to promote adherence to lifestyle changes and increase patient autonomy by enabling patients to self-monitor health interventions.
Sizing and Forecast
The cardiovascular digital solutions market size has grown rapidly in recent years. It will grow from $91.02 billion in 2023 to $100.81 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. The growth in the historic period can be attributed to rise in cardiovascular diseases, telemedicine adoption, data analytics for risk prediction, patient engagement initiatives, remote patient monitoring.
The cardiovascular digital solutions market size is expected to see rapid growth in the next few years. It will grow to $147.86 billion in 2028 at a compound annual growth rate (CAGR) of 10.1%. The growth in the forecast period can be attributed to artificial intelligence and machine learning integration, expanding role of digital biomarkers, remote cardiac rehabilitation programs, interoperability of healthcare systems, focus on real-time monitoring and alerts. Major trends in the forecast period include blockchain for secure health data management, integration of ehrs and cardiovascular digital solutions, mobile health apps for cardiovascular management, focus on cardiovascular rehabilitation solutions, collaborations between tech companies and healthcare providers.
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Segmentation & Regional Insights
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
North America was the largest region in the cardiovascular digital solutions market in 2023. 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
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Major Driver Impacting Market Growth
The rise in cardiovascular disease prevalence worldwide is expected to propel the growth of the cardiovascular digital solutions market going forward. Heart and blood vessel problems are referred to as cardiovascular diseases (CVDs). It is a common phrase for diseases that damage the heart or blood vessels. Cardiovascular digital solutions aid in promoting patient autonomy by allowing patients to self-monitor health activities that decrease disease risk factors while encouraging adherence to these lifestyle changes. The use of these solutions decreased the morbidity and mortality of cardiovascular diseases. So, the surge in cases of cardiovascular diseases boosts the market for cardiovascular digital solutions. For instance, in 2022, according to a report shared by the World Heart Federation, a Switzerland-based non-profit organization of the global cardiovascular community, the projected number of deaths due to cardiovascular diseases is expected to increase, reaching over 22.2 million in 2030 and 32.3 million in 2050, up from an estimated 18.9 million in 2020. Therefore, the rise in cardiovascular disease prevalence worldwide is driving the cardiovascular digital solutions market
Key Industry Players
Major companies operating in the cardiovascular digital solutions market are focused on developing revolutionary therapeutics solutions, such as digital therapeutics solutions, to provide cardiac care. A digital therapeutics solution refers to a technology-based intervention or software designed to prevent, manage, or treat specific medical conditions. For instance, in January 2023, Lupin Digital Health, an India-based software company launched LYFE, a digital therapeutics solution for cardiac care, designed by Indian cardiologists. LYFE utilizes FDA and CE-approved wearables for real-time vital monitoring, emergency notifications, and medication reminders. The platform offers expert intervention through care managers, health coaches, and nutritionists, aiming to enhance patient outcomes, improve therapy adherence, and reduce caregiver stress.
The cardiovascular digital solutions market report table of contents includes:
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List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Cardiovascular Digital Solutions Market, Segmentation By Components, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Cardiovascular Digital Solutions Market, Segmentation By Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Cardiovascular Digital Solutions Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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Table 75: iRythm Technologies Inc. Financial Performance
Table 76: Apple Inc. Financial Performance
Table 77: General Electric Company Financial Performance
Table 78: Uber Diagnostics Private Limited Financial Performance
Table 79: AlivCor Inc. Financial Performance
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