Artificial Intelligence In Cardiology Market Size, Share & Trends Analysis Report By Component (Hardware, Services), By Application (Stroke, CHD/CAD), By Region, And Segment Forecasts, 2023 - 2030

Artificial Intelligence In Cardiology Market Size, Share & Trends Analysis Report By Component (Hardware, Services), By Application (Stroke, CHD/CAD), By Region, And Segment Forecasts, 2023 - 2030

Artificial Intelligence In Cardiology Market Growth & Trends

The global artificial intelligence in cardiology market size is expected to reach USD 11.5 Billion by 2030, expanding at 34.1% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. The increase in the adoption of new technologies by healthcare facilities for the diagnosis and treatment of cardiac diseases, the growing burden of cardiovascular diseases worldwide, and increasing competition among market players to launch new technologies for cardiac imaging are some of the major factors supporting the market's growth.

According to the WHO, cardiovascular diseases are a major cause of death worldwide. The World Heart Federation states that cardiovascular deaths are expected to rise in the coming years. i.e., from 18.9 million in 2020 to 32.3 million in 2050. Some major causes of cardiac diseases are stress, sedentary lifestyles, and an increase in the consumption of fast food, among others. A significant number of people adopting a sedentary lifestyle is expected to increase the disease burden further. This is expected to improve the demand for artificial intelligence (AI) technology to accurately detect cardiac abnormalities and thus boost the market in the post-pandemic period.

Aging is one of the major causes of cardiovascular diseases. According to the National Institute of Health, aging is one of the major reasons for diseases such as coronary artery disease, stroke, heart attack, and other cardiovascular diseases. According to the WHO, in 2020, over 1 billion people were aged 60 years and above, and by 2050, this number is expected to rise to 2.1 billion. The surge in the geriatric population is expected to increase the burden of these diseases and thus support the demand for advanced AI technology in the coming years for treating heart diseases in a better way.

Artificial intelligence has improved and enhanced the accuracy of diagnosing cardiovascular diseases. Machine learning algorithms are increasingly being developed and are widely used in the diagnosis and treatment of heart failure, valvular heart disease, and coronary artery disease, among others. Improved diagnostic and prognostic capabilities using machine learning algorithms are enhancing the clinical care of patients suffering from cardiovascular diseases. Many studies have reported that artificial intelligence detects abnormalities in the heart with more than 80% accuracy. All the above-mentioned factors are likely to boost the demand for AI in cardiology.

Artificial intelligence In Cardiology Market Report Highlights

• Based on component, the software segment dominated the market with a share of 43.7%. The high demand for AI-based software in the area of cardiac diagnosis is one of the major reasons for the segment's growth
• The arrhythmias segment is expected to grow with a CAGR of 37.5% over the forecast period owing to the high accuracy of AI devices to detect arrhythmias effectively
• North America dominated the market in terms of revenue share with 58.0% in 2022 due to the approval of a significant number of AI devices in North America in the area of cardiology
• The Asia Pacific region is expected to witness the fastest growth over the forecast period, owing to the growing disease burden in the region and also due to the increase in the adoption of AI devices in the region

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