Artificial Intelligence In Cardiology Market Size, Share & Trends Analysis Report By Component (Hardware, Services), By Application (Stroke, CHD/CAD), By Region, And Segment Forecasts, 2024 - 2030
Artificial intelligence In Cardiology Market Growth & Trends
The global artificial intelligence in cardiology market size is expected to reach USD 4.8 billion in 2030 and is projected to grow at a CAGR of 24.6% from 2024 to 2030 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, software segment is expected to grow at the fastest CAGR during the forecast period. AI-based software in cardiology is revolutionizing the field by enhancing diagnostic accuracy, improving patient monitoring, and enabling personalized treatments
The cardiac arrhythmias segment is expected to grow at the fastest CAGR over the forecast period. Atrial Fibrillation (AF) is one of the most common clinically significant cardiac arrhythmias associated with various cardiovascular complications such as stroke and increased mortality.
North America dominated the artificial intelligence in cardiology market with a revenue share of over 45.5% in 2023.
The AI in cardiology market in the Asia Pacific is expected to be driven by the increasing prevalence of cardiovascular diseases in multiple countries, fueling the demand for more efficient and accurate diagnostic & treatment solutions
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Chapter 1 Methodology and Scope
1.1 Market Segmentation and Scope
1.1.1 Segment Definition
1.1.1.1 Component type segment
1.1.1.2 Application segment
1.1.1.3 Medical condition segment
1.2 Regional Scope
1.2.1 Estimates And Forecast Timeline
1.3 Objectives
1.3.1 Objective - 1
1.3.2 Objective - 2
1.3.3 Objective - 3
1.4 Research Methodology
1.5 Information Procurement
1.6 Market-specific Research Models
1.6.1 Consensus-based estimates & forecasting
1.6.2 Model 1: Commodity Flow Analysis
1.6.2.1 List of some notable companies considered for commodity flow analysis
1.6.3 Model 2: Parent Market Analysis
1.6.4 Model 3: Country-Level Multivariate Analysis Assumptions
1.6.5 Model 4: Segment-Level Multivariate Analysis Assumptions
1.6.5.1 Global Segment-Level Multivariate Analysis: Component Type
1.6.5.2 Global Segment-Level Multivariate Analysis: Medical Condition Type
1.6.6 Ai In Cardiology Market Cagr Calculation
1.6.7 Other Variables Considered In The Market Analysis
1.6.7.1 Variable/Metrics 1 - Internet Penetration (% Of The Population)
1.6.7.2 Variable/Metrics 2 - AI Adoption Index
1.7 List of Secondary Sources
Chapter 2 Executive Summary
2.1 AI in Cardiology Market Snapshot
2.2 AI in Cardiology Market Segment Snapshot (Part 1)
2.3 AI in Cardiology Market Segment Snapshot (Part 2)
2.4 AI in Cardiology Market Competitive Landscape Snapshot
Chapter 3 AI in Cardiology Market Variables, Trends, & Scope
3.1 Market Lineage Outlook
3.1.1 Parent Market Outlook
3.2 Ai In Cardiology Market Dynamics
3.2.1 Market Driver Analysis
3.2.1.1 Growing Burden Of Cardiovascular Diseases And The Need For Efficient Healthcare Solutions
3.2.1.2 Increasing Strategic Initiatives In Ai Technologies
3.2.1.3 Technological Advancements In Ai Algorithms And Imaging Techniques
3.2.2 Market Restraint Analysis
3.2.2.1 Regulatory Challenges And Ethical Considerations
3.2.2.2 High Implementation And Procurement Costs
3.2.2.3 Lack Of Skilled Labor Having Knowledge Related To Technology
3.3 Ai In Cardiology Market Analysis Tools: Porters
3.4 SWOT Analysis by Factors (Political & Legal, Economic, Social, and Technology)
3.5 COVID-19 Impact
Chapter 4 AI in Cardiology Market: Component Estimates & Trend Analysis