2024 Cardiovascular Digital Solutions Market Summary: 5 Key Findings
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What Growth Projections are in Place for the Cardiovascular Digital Solutions Market Between 2024-2033?
In recent times, there has been rapid growth in the size of the cardiovascular digital solutions market. It is projected to expand from a value of $91.02 billion in 2023 to $100.81 billion in 2024, representing a compound annual growth rate (CAGR) of 10.8%. Factors contributing to growth during this historic period include the increasing prevalence of cardiovascular diseases, the adoption of telemedicine, the use of data analytics for risk prediction, initiatives aimed at patient engagement, and remote patient monitoring.
In the ensuing years, the cardiovascular digital solutions market is projected to experience significant expansion, with its estimated worth reaching $147.86 billion in 2028, growing at a compound annual growth rate (CAGR) of 10.1%. The anticipated growth during the forecast period is attributed to factors such as the incorporation of artificial intelligence and machine learning, the augmenting role of digital biomarkers, the execution of remote cardiac rehabilitation programs, the interoperability of healthcare systems, and an emphasis on real-time monitoring and alerts. Key trends during the forecast period will involve the use of blockchain for secure health data management, the incorporation of EHRs and cardiovascular digital solutions, the application of mobile health apps for handling cardiovascular issues, a focus on cardiovascular rehabilitation solutions, and strategic collaborations between tech firms and medical providers.
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What Are the Major Factors Contributing to the cardiovascular digital solutions Market Expansion?
The global increase in the prevalence of cardiovascular diseases (CVDs) is anticipated to fuel the expansion of the cardiovascular digital solutions market. CVDs are health issues concerning the heart and blood vessels. The term generally describes illnesses that cause harm to the heart or blood vessels. Cardiovascular digital solutions empower patients by offering self-monitoring of health pursuits that help in reducing disease risk factors, whilst promoting adherence to these lifestyle modifications. These innovations have resulted in diminished morbidity and mortality from cardiovascular diseases. Therefore, the upward trend in cardiovascular disease cases is stimulating the cardiovascular digital solutions market. As per a 2022 report by the World Heart Federation, a Switzerland-based non-profit association of the international cardiovascular community, it was forecasted that deaths owing to cardiovascular diseases will rise, hitting over 22.2 million in 2030 and 32.3 million in 2050, a significant increase from 18.9 million in 2020. Hence, the global escalation in cardiovascular disease prevalence is contributing to the growth of the cardiovascular digital solutions market.
Which Key Segments Shape the Cardiovascular Digital Solutions Market?
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
What Are the Transformative Trends Influencing the Cardiovascular Digital Solutions Market?
The increasing trend towards product innovation is gaining traction in the cardiovascular digital solutions market. Major players in this market are concentrating their efforts on the creation of novel products to solidify their market standing. For example, Eko Health, a company based in the USA that manufactures digital health solutions for heart and lung disease, launched the SENSORA Cardiac Disease Detection Platform in February 2023. SENSORA merges cutting-edge machine learning technologies with one of the world’s most frequently used medical devices, the stethoscope, to form a cardiovascular disease detection platform. Eko has developed a detection platform that has the capacity to expand as the enterprise develops applications for other cardiac conditions. Using its digital stethoscopes to capture and analyse electrocardiogram signals and heart sounds, SENSORA primarily includes AI that can accurately identify infrastructural murmurs indicative of heart valve disease, along with Care Pathway Analytics software that provides detailed insight and analysis of the healthcare process throughout the healthcare system.
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What Regions Are Leading the Growth Trajectory of the Cardiovascular Digital Solutions Market?
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
The Cardiovascular Digital Solutions Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the cardiovascular digital solutions market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Cardiovascular Digital Solutions Market Include
1. Cardiovascular Digital Solutions Market Executive Summary
2. Cardiovascular Digital Solutions Market Segments
3. Cardiovascular Digital Solutions Market Size And Template Market Growth Rate
4. Key Cardiovascular Digital Solutions Market Trends
5. Major Cardiovascular Digital Solutions Market Drivers
……
25. Key Mergers And Acquisitions In The Cardiovascular Digital Solutions Market
26. Top Cardiovascular Digital Solutions Companies
27. Cardiovascular Digital Solutions Market Opportunities And Strategies
28. Cardiovascular Digital Solutions Market, Conclusions And Recommendations
29. Appendix
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