Dublin, Jan. 29, 2024 (GLOBE NEWSWIRE) -- The "Global Artificial Intelligence In Cardiology Market Analysis & Forecast to 2024-2034" report has been added to ResearchAndMarkets.com's offering.
Global Market Analysis Unveils Significant Expansion in AI Cardiology with Technological Advances Spearheading North American and Asia Pacific Regions
The global market for artificial intelligence in cardiology is experiencing an unprecedented surge, with projections indicating a transformative growth from USD 0.997 billion in 2023 to a remarkable USD 25.23 billion by 2034. The industry is set to achieve a compound annual growth rate (CAGR) of 34.14% over the forecast period of 2024-2034, driven by the escalating prevalence of cardiovascular diseases and a demand for enhanced diagnostic and treatment accuracy.
Healthcare practitioners are increasingly turning to AI to improve patient outcomes, streamline patient management, and support the effective treatment of cardiovascular conditions. Advances in cardiac imaging technology and a proliferation of research and development activities are propelling the industry forward. Regulatory approvals continue to foster trust in AI solutions, as a steady stream of AI-based platforms are launched into the market.
AI Software Solutions Take the Lead in Revenue Generation
In 2023, the software component dominated the revenue share within the AI cardiology landscape, credited to its superior efficiency in heart analysis and the rising demand for AI-driven diagnostic tools. Strategic collaborations, funding acquisitions, and innovative developments are further reinforcing the segment's stronghold.
Heart Disease Detection at Forefront of Technological Advancements
Coronary artery disease (CAD) has claimed the spotlight as the top revenue-earning segment, amidst growing incidences and a rising patient base relying on AI for diagnosis and treatment. Noteworthy partnerships, like Anumana's alliance with Novartis for AI-algorithm development, signify the sector's commitment to combating subclinical heart disease.
Arrhythmia Detection Benefits from AI's Accuracy
The arrhythmia segment is predicted to experience the fastest CAGR over the forecast period. AI's precision in arrhythmia detection is augmenting its adoption, reflecting the increased prevalence of these disorders and the healthcare industry's pivot towards cutting-edge technologies.
Geographic Revenue Highlights and Projections
North America continues to reign as the region with the highest revenue share, attributed to its technological prowess, advanced healthcare infrastructure, and sequential approvals of AI products. The FDA's clearance of DiA Imaging Analysis' LVivo IQS is a testament to the region's innovative spirit. Meanwhile, the Asia Pacific region is on course to achieve the fastest CAGR. Factors fueling this expansion include an aging populace, burgeoning healthcare facilities, and increasing cardiovascular disease prevalence. Medtronic plc's recognition for its AI algorithm technology in the MedTech Breakthrough Awards program highlights the region's dedication to clinical excellence. Segmentation Insights Into the AI in the Cardiology Sector
- By Component
- Software Solutions
- Hardware
- Services
- By Application
- Stroke
- Cardiac Arrhythmias
- Ischemic Heart Disease/CAD
- Others
- By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
The detailed analysis within this report delves into the trends, drivers, and potential challenges facing the market. The findings project a sharply ascending trajectory for artificial intelligence in cardiology, revolutionizing the field with enhanced precision and innovation.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value (USD) in 2023 | $1 Billion |
| Forecasted Market Value (USD) by 2034 | $25.23 Billion |
| Compound Annual Growth Rate | 34.1% |
| Regions Covered | Global |
Companies Mentioned
- Cleerly Inc.
- RSIP Vision
- Vista AI
- Arterys Inc.
- Viz ai
- Cardiologs
- IDOVEN
- Ultrasight
- CardiAI
- Ultromics Limited.
- DiA Imaging Analysis
For more information about this report visit https://www.researchandmarkets.com/r/eq6k05
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
