Press Release Description
Global Cardiac AI Monitoring and Diagnostics Market to Register Growth Above 25.6% During 2024-2029
The Global Cardiac AI Monitoring and Diagnostics Market size is projected to grow at a CAGR of around 25.6% during the forecast period of 2024-29, cites MarkNtel Advisors in the recent research report. The increasing incidence of coronary artery diseases worldwide, particularly in Asia-Pacific & Europe, driven by the growing adoption of sedentary & unhealthy lifestyles, has spurred a significant rise in the demand for monitoring & diagnostic services on a global scale.
A multitude of factors, including physical inactivity, obesity, poor dietary habits, and tobacco smoking, have contributed to the accumulation of plaque & cholesterol in blood vessels, leading to the prevalence of cardiovascular diseases (CVD). Thus, as the number of CVD patients continued to climb, healthcare professionals have increasingly turned to AI software and services for cardiovascular diagnosis & monitoring. This shift toward AI software in the field of cardiology was attributed to its ability to efficiently process vast amounts of data generated by diagnostic devices in minimal time.
In addition to the surging prevalence of cardiovascular diseases (CVD), the mortality rates associated with these conditions have been on the rise. This alarming escalation in CVD incidence has underscored the pressing need for early diagnosis & effective treatment. Furthermore, a significant proportion of CVD-related deaths have been attributed to the absence of suitable diagnostic solutions capable of disease detection & treatment prediction.
Consequently, there is a growing demand for enhanced software solutions designed to facilitate the early identification of heart rhythm abnormalities, which would further lead to the expansion of the market, further states the research report, “Global Cardiac AI Monitoring and Diagnostics Market Analysis, 2024.”
Cardiac Diagnostics Dominated the Global Cardiac AI Monitoring and Diagnostics Market
Based on the type segment, the market is further bifurcated into Cardiac Diagnostics (Cardiac Imaging, Electrocardiography-Based (ECG-Based) Diagnostics, and other & Cardiac Monitoring. Cardiac diagnostics has emerged as a dominant force within the Global Cardiac AI Monitoring and Diagnostics Market, making significant strides in recent years.
Its prominence was attributed to its ability to provide comprehensive evaluations, allowing for the precise identification of specific cardiac conditions. This precision, in turn, enables the development of tailored treatment & management strategies, ultimately benefiting patient care. Furthermore, the gradual integration of artificial intelligence (AI) into cardiac diagnostics has revolutionized the field. This integration harnesses the power of AI algorithms and methodologies to enhance the diagnostic process, resulting in improved accuracy, streamlined workflows, and increased accessibility.
Notably, companies like Philips and Medicalgorithmics have been at the forefront of providing AI software and solutions in conjunction with cardiac diagnostic devices. As the availability of AI software integrated with diagnostic devices continues to expand in the years ahead, it is poised to further bolster market growth.
North America Witnessed Momentous Growth in the Global Cardiac AI Monitoring and Diagnostics Market
Geographically, North America has established its dominance in the Global Cardiac AI Monitoring and Diagnostics Market, owing to several influential factors that set the region apart. Chief among these factors is the presence of a well-developed and technologically advanced healthcare infrastructure, complemented by a pervasive culture of digital adoption.
Companies operating in North America have demonstrated a strong commitment to the R&D of AI algorithms. They have also prioritized securing FDA approvals to elevate the standard of healthcare services offered to individuals with cardiac conditions. Hence, as the number of approvals for AI software applications in diverse cardiac indications continues to grow, their scope of application is poised for expansion. This trend is expected to drive increased utilization of AI in the cardiac healthcare landscape in the years ahead, further cementing North America's leadership position in this dynamic market.
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including HeartVista, Inc., Siemens Healthineers AG, RSIP Vision, Ultromics Limited., Tempus Labs, Inc., Cardiologs Technologies, Cleerly, Inc., AliveCor, Inc., Aidoc Medical Ltd., Boston Scientific Corporation, CathWork Inc., HeartFlow, Inc., iRhythm Technologies, Inc., Nano-x Imaging Ltd., etc. are looking forward to strengthening their market position.
Key Questions Answered in the Research Report
- What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
- What are the trends influencing the current scenario of the market?
- What key factors would propel and impede the industry across the Globe?
- How has the industry been evolving in terms of geography and solution adoption?
- How has the competition been shaping across various regions?
- How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-29?
- Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?
Place an order
100% Safe & Secure
Strongest encryption on the website to make your purchase safe and secure