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Artificial intelligence in cardiology refers to techniques used to forecast cardiovascular outcomes, detect malignant arrhythmias, and diagnose coronary artery disease non-invasively. Artificial intelligence in cardiology is used for detecting heart disease, treating strokes quickly, and enhancing diagnostic radiology capabilities.
Sizing and Forecast
The artificial intelligence in cardiology market size has grown exponentially in recent years. It will grow from $1.44 billion in 2023 to $2 billion in 2024 at a compound annual growth rate (CAGR) of 39.2%. The growth in the historic period can be attributed to increasing cardiovascular disease burden, big data availability, clinical decision support, growing importance of preventive cardiology, shortages in cardiovascular specialists.
The artificial intelligence in cardiology market size is expected to see exponential growth in the next few years. It will grow to $7.53 billion in 2028 at a compound annual growth rate (CAGR) of 39.2%. The growth in the forecast period can be attributed to integration with electronic health records, population aging, wearable devices, remote monitoring, global telecardiology adoption, integrated cardiovascular imaging. Major trends in the forecast period include technological innovations in cardiovascular diagnostics, advancements in ai algorithms, new drug development, advancements in medical imaging.
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Segmentation & Regional Insights
The artificial intelligence in cardiology market 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
North America was the largest region in the artificial intelligence in cardiology market in 2023. 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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Major Driver Impacting Market Growth
The high burden of cardiovascular diseases is expected to propel the growth of artificial intelligence in the cardiology market going forward. Cardiovascular diseases are all diseases that can affect the heart and blood vessels. In cardiology, AI is used to detect cardiovascular diseases by helping with electrocardiogram (ECG) interpretation and helping spot diseases like long QT syndrome and atrial fibrillation. Also, AI can evaluate vast amounts of data from electronic health records, mobile health devices, and imaging data. For instance, in January 2022, according to an article published by the American Heart Association, a US-based nonprofit organization focused on cardiovascular medical research, approximately 19.1 million deaths were attributed to cardiovascular disease globally in 2022. Furthermore, 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 659,041 in 2019 to 695,000 in 2021. Therefore, the high burden of cardiovascular diseases worldwide will drive artificial intelligence in cardiology market.
Key Industry Players
Major companies operating in the artificial intelligence in cardiology market report are 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, Ultromics Limited, Aidoc, Arterys Inc., Zebra Medical Vision, Vista.ai, AliveCor, DiA Imaging Analysis, Eko Health Inc., Cardiomatics, CardiAi Inc., UltraSight, Anumana Inc., Cardiai Inc.
The artificial intelligence in cardiology market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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