Dublin, May 08, 2023 (GLOBE NEWSWIRE) -- The "Global Cardiovascular Digital Solutions Market Size, Share & Industry Trends Analysis Report By Service Type, By End-use, By Deployment, By Components, By Regional Outlook and Forecast, 2022 - 2028" report has been added to ResearchAndMarkets.com's offering.
The Global Cardiovascular Digital Solutions Market size is expected to reach $128.1 billion by 2028, rising at a market growth of 4.8% CAGR during the forecast period.
Key Market Players
- Apple, Inc.
- General Electric Company
- Koninklijke Philips N.V.
- Verily Life Sciences LLC (Alphabet, Inc.)
- iRhythm Technologies, Inc.
- Bardy Diagnostics, Inc. (Hill-Rom Holdings Inc) (Baxter International Inc.)
- eviCore Healthcare (Express Scripts Holding Company) (Cigna Corporation)
- AliveCor, Inc.
- Cardiotrack
- HeartFlow, Inc.
Cardiovascular digital solutions are the fusion and application of digital technologies like software, sensors, wearables, smartphones, artificial intelligence, and virtual healthcare solutions. In order to develop and offer effective healthcare solutions, digital healthcare solutions are being used. The most frequent cause of morbidity and mortality, cardiovascular (CVD) illnesses, necessitates a comprehensive multi-parameter examination beyond the ECG.
For the early detection, monitoring, and treatment of cardiac problems, digital solutions are crucial. This allows for more specialized and effective cardiac care. One of the main reasons propelling the expansion of the cardiovascular digital solutions market is the rise in the prevalence of cardiovascular disorders worldwide, as well as the quickening pace of healthcare technology internationally.
Inadequate or wrong food intake, inactivity, use of tobacco, and excessive alcohol consumption are the biggest behavioral risk factors for cardiovascular diseases like heart disease and stroke. In addition, raised blood pressure, elevated blood glucose, elevated blood lipids, as well as being overweight, and obesity might be symptoms of behavioral risk factors in people. In primary care settings, these 'intermediate risk factors' can be assessed and show a higher risk of complications like heart attack, stroke, and heart failure.
There are other additional underlying causes of CVDs. These reflect the three main forces that are causing social, economic, and cultural change: urbanization, population aging, and globalization. Hereditary factors, stress, and poverty are other CVD predictors. In order to lower cardiovascular risk and stop strokes and heart attacks in persons with these illnesses, the pharmacological treatment for hypertension, diabetes, and excessive blood lipids is also required.
COVID-19 Impact Analysis
Patients with mild symptoms were required to consult online as part of the social distancing procedures. Additionally, it eased the strain on hospitals already overburdened with COVID-19 patient counts. The development of Medical IoT devices also helped patients maximize outpatient care and reduce follow-up visits. These devices could also be employed in an emergency. Additionally, the resource shortage encountered during the pandemic led to the development of value-based and competitive pricing models. Therefore, the pandemic had a favorable impact on the market.
Market Growth Factors
Rising use of cutting-edge treatment methods
New cardiovascular therapy alternatives are being developed, and the MedTech CVD industry is growing, owing to the adoption of cutting-edge treatment technologies like TAVR and 3D printing. Providers are looking for a wide range of therapeutic, diagnostic, and monitoring solutions that they can use to manage the patient journey.
These solutions should be empowered by the right technology, backed by research and a compelling value proposition, and made available at the appropriate time. This will propel the growth of the cardiovascular digital solutions market in the coming years.
Shifts in providers and healthcare delivery methods
There is mounting evidence that certain CVD initiatives centered on digital tools have benefited patients and physicians alike. For example, since devices may collect data via remote connectivity, digital health interventions for patients may result in fewer doctor visits.
Furthermore, digital solutions can be used as clinical decision-support tools by healthcare professionals who input patient data to produce therapy suggestions. Hence, the changing methods of healthcare delivery and availability of healthcare providers have substantiated the use of technology to cater to more patients in a shorter time, which has also boosted the growth prospects for the market.
Market Restraining Factor
Insufficiently qualified staff for clinical trials
According to the Association of Clinical Research Organizations, there is a particularly great need for clinical trial associates (CTA) and clinical research associates (CRA). Unfortunately, over the past ten years, the problem has worsened because neither manufacturers nor CROs has provided graduates with enough skill training to meet the needs of the industry's research.
This talent gap may hinder the adoption of innovative techniques and technology, which may have an adverse effect on the market for cardiovascular digital solutions in the years to come.
Scope of the Study
By Service Type
- Unobtrusive Testing
- CVD Health Informatics
- Cardiac Rehab Programs
- Others
By End-use
- Hospitals & Clinics
- Ambulatory Care Centers
- Others
By Deployment
- Cloud-Based
- On-premise
By Components
- Devices
- Software
For more information about this report visit https://www.researchandmarkets.com/r/gzxzvp
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
