Global Heart Attack Diagnostic Market Opportunities And Strategies 2023
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The Business Research Company’s heart attack diagnostic market report forecasts the heart attack diagnostic market size to grow to $13.38 Billion by 2027, with a CAGR (compound annual growth rate) of more than 6%.
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Heart Attack Diagnostic Market Size Forecast
The global heart attack diagnostic market is expected to grow from $9.45 billion in 2022 to $10.27 billion in 2023 at a compound annual growth rate (CAGR) of 8.67%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The heart attack diagnostics market is expected to reach $13.38 billion in 2027 at a CAGR of 6.84%.
North America held the largest heart attack diagnostic market share, and Asia-Pacific was the fastest-growing region in 2022.
Key Heart Attack Diagnostic Market Driver – Rise In The Prevalence Of Cardiac Disorders
For example, a World Health Organization (WHO) study from 2021 estimated that 17.9 million people died from cardiovascular diseases (CVDs), accounting for 32% of all deaths, with heart attacks and strokes accounting for 85% of these deaths. This demonstrates that the number of people suffering from cardiovascular disease (CVD) is steadily increasing, accounting for one-third of all deaths worldwide. As a result, the rising prevalence of cardiovascular illnesses will continue to drive the market for heart attack diagnostics.
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Key Heart Attack Diagnostic Market Trend – Developing Novel Diagnostic Techniques For Heart Disease
Major players are developing novel technologies for heart disease diagnosis, such as artificial intelligence. Artificial intelligence (AI) is the simulation of human intelligence in machines designed to act and think like humans. AI is being used to improve diagnostic radiography skills, diagnose heart problems, and treat strokes more quickly. For example, in February 2022, physician-scientists at Cedars-Smidt Sinai’s Heart Institute, a nonprofit academic healthcare organisation, developed an AI-based method to identify difficult-to-diagnose cardiac conditions. The AI programme can detect illness patterns that are invisible to the naked eye and use them to predict the correct diagnosis. Artificial intelligence (AI) technology efficiently recognises and distinguishes hypertrophic cardiomyopathy and cardiac amyloidosis disorders, both of which can be fatal.
Heart Attack Diagnostic Market Segment
1) By Test Type: Electrocardiogram (ECG/EKG), Blood Tests, X-Ray, Echocardiogram, Coronary Catheterization (Angiogram), Exercise Stress Test, Magnetic Resonance Imaging (MRI)
2) By Procedure: Invasive Procedure, Non-Invasive Procedure
3) By End-Use Industry: Hospitals, Ambulatory Surgical Centers, Diagnostics Centers, Other End-Users
Heart Attack Diagnostic Market Major Players and Strategies
Major players in the heart attack diagnostic market are Abbott Laboratories, F. Hoffmann-La Roche AG, General Electric Co., Hitachi Ltd., Koninklijke Philips NV, Midmark Corp., Siemens AG, Toshiba Corp., Welch Allyn Inc., Astrazenca PLC., HILL ROM HOLDINGS Inc., Canon Medical Systems Corporation, Bio-Rad Laboratories Inc., Fujifilm Holdings, ACS Diagnostics Inc. and Beckman Coulter Inc.
Royal Philips, a Netherlands-based multinational conglomerate corporation specialising in health technology, acquired Cardiologs for an undisclosed sum in November 2021. Royale Philips aimed to strengthen its cardiac monitoring and diagnostics offerings with innovative software technology, electrocardiogram (ECG) analysis, and reporting services through this acquisition. Cardiologs is a medical technology company based in France that uses artificial intelligence (AI) and cloud technology to transform cardiac diagnostics.
The Heart Attack Diagnostic Global Market Report 2023 covers regional data on heart attack diagnostic market size, heart attack diagnostic market trends and drivers, opportunities, strategies, and heart attack diagnostic market competitor analysis. The countries covered in the heart attack diagnostic market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Heart attack diagnostics are defined as the methods of identification, monitoring, screening, and prognosis that aid in validating the diagnosis of a heart attack and determining the type of heart attack a patient has had, which aids in determining the most effective treatment. Heart attack diagnostics are used to determine the presence of heart disease.
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