The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

According to The Business Research Company’s Cardiac AI Monitoring And Diagnostics Global Market Report 2024, the cardiac AI monitoring and diagnostics market is expected to show promising growth in the forecast period.

Market Growth and Drivers

• Recent Market Performance:
  • The cardiac AI monitoring and diagnostics market grew from $1.35 billion in 2023 to $1.71 billion in 2024, with a CAGR of 26.6%.
• Historical Growth Factors:
  • Aging population demographics
  • Rise in remote patient monitoring
  • Increased healthcare expenditure
  • Clinical research and validation studies
  • Focus on preventive healthcare

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Future Market Projections

• Expected Growth:
  • The market is projected to reach $4.37 billion by 2028, with a CAGR of 26.4%.
• Future Growth Drivers:
  • Expansion of wearable and IoT devices
  • Increasing adoption of telemedicine and remote monitoring
  • Integration of big data analytics and predictive modeling
  • Focus on patient-centered care and remote patient engagement
  • Healthcare infrastructure development

Emerging Trends in the Cardiac AI Market

• Integration of AI with Wearable Devices: Enhanced real-time monitoring capabilities.
• Personalized Risk Assessment and Treatment Planning: Tailored healthcare solutions.
• Predictive Analytics for Cardiovascular Events: Early detection and intervention.
• Integration of Multimodal Data Sources: Comprehensive patient data analysis.
• Interoperability and Data Integration Standards: Seamless data exchange across platforms.

Addressing the Rising Prevalence of Cardiovascular Diseases

• Growing Prevalence: Cardiovascular diseases (CVDs) continue to increase globally.
• Role of Cardiac AI: Early diagnosis, risk assessment, and tailored therapy improve patient outcomes.
• Example: In the US, deaths from heart disease rose from 690,882 in 2020 to 695,000 in 2021, driving the market growth.

Key Players in the Cardiac AI Market

• Major Companies:
  • Abbott Laboratories
  • Medtronic plc
  • Siemens Healthineers AG
  • Koninklijke Philips N.V.
  • GE HealthCare Technologies Inc.
  • Boston Scientific Corporation
  • ZOLL Medical Corporation
  • Canon Medical Systems Corporation
  • Biotronik SE & Co. KG
  • iRhythm Technologies Inc.
  • Tempus Labs Inc.
  • ai Inc.
  • Others: HeartFlow Inc., Aidoc, Eko Devices Inc., CardioFocus Inc., etc.

Advancements in AI-Based Implantable Cardiac Monitors

• Technological Innovations: Companies are developing AI-based implantable cardiac monitors.
• Example: In May 2023, Biotronik’s BIOMONITOR IV ICM was FDA-approved, featuring the AI-powered SmartECG algorithm.
  • Benefits:
    • Eliminates 86% of false identifications
    • Maintains 98% of real episode detections
    • Distinguishes between PVCs and PACs

Philips’ Strategic Acquisition of Cardiologs

• Acquisition Details:
  • In January 2022, Philips acquired Cardiologs Technologies SAS.
• Impact:
  • Enhances Philips’ cardiac diagnostics and monitoring portfolio
  • Integrates innovative software solutions, ECG analysis, and reporting services

Regional Market Insights

• North America: The largest region in the cardiac AI monitoring and diagnostics market in 2023.
• Asia-Pacific: Expected to be the fastest-growing region during the forecast period.

Market Segmentation

• By Type:
  • Cardiac Diagnostics
  • Cardiac Monitoring
• By Product:
  • Software
  • Hardware
• By Application:
  • Ischemic Heart Diseases or Coronary Artery Disease (CAD)
  • Cardiac Arrhythmias
  • Ischemic Stroke
  • Other Applications
• By End Users:
  • Hospitals
  • Diagnostic Centers
  • Other End Users

The cardiac AI monitoring and diagnostics market is witnessing exponential growth driven by advancements in technology, rising prevalence of cardiovascular diseases, and increasing adoption of remote monitoring. With continuous innovation and strategic acquisitions, the future of this market looks promising and poised for significant expansion.

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