"The global AI in cardiology market size is estimated to grow from USD 1.06 billion in 2022 to surpass around USD 20.35 billion by 2032, registered at a double digit CAGR of 34.38% between 2023 and 2032, as a result of the rising prevalence of cardiovascular disorders and improve technological advancements."
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In March 2022, The Centers for Disease Control and Prevention reported that 18.2 million Americans have been diagnosed with coronary artery disease. Accelerated Detection in Cardiology, Facilitated by AI Advancement, is Contributing to the Market Growth.
According to the World Health Organization, Heart attacks and strokes account for 85% of deaths worldwide, and cardiovascular diseases (CVDs) account for 17.9 million deaths annually, making up 31% of all deaths. Artificial intelligence helps identify cardiovascular diseases more quickly using ECGs, imaging, biomarker tracing, and atrial fibrillation assessment. This contributes significantly to the successful diagnosis and treatment of cardiovascular diseases. By helping with risk assessment, medication discovery, treatment planning, and medical diagnosis, this technology has tremendous potential to completely transform the healthcare industry.
Artificial Intelligence (AI) is the ability to instruct a computer how to solve a problem. AI is helpful because it allows computers to gather information from data and make well-informed decisions. Through machine learning and deep learning techniques, researchers have developed several systems that greatly enhance the detection of cardiovascular diseases, ultimately resulting in more accurate and efficient diagnoses. As AI proliferates, it is anticipated to benefit patients, cardiologists, healthcare providers, insurance companies, and international policymakers.
Artificial intelligence utilization includes effectively analyzing vast amounts of data and dealing with tricky medical problems. The advancement of Al techniques demonstrates the potential of Al in future cardiology for precise assessment of CVD results, non-invasive diagnosis of coronary artery disease (CAD), detection of arrhythmias through wearables, diagnosis, treatment strategies, and outcome prediction for patients with heart failure (HF). With the development of artificial intelligence (AI), the Internet of Things (IoT), and precision medicine.
The global market for AI in cardiology is also growing quickly. Not only is the insertion of AI tools into cardiovascular medicine services, but it also opens up new avenues for improved patient care, streamlined procedures, and scientific advances. Accepting the potential of artificial intelligence (AI) is crucial to achieving its full impact on cardiovascular healthcare as we advance. Cutting-edge digital technologies will play a significant role in the field of cardiology in the future.
Global Market Expands Due to AI Revolution in Cardiology: This could be the Next Big Thing in Cardiovascular Medicine Sciences. The limitations of the instruments and practices used in clinical medicine today should serve as a stimulus for the growing use of Al tools in patient care. This field of innovation will expand rapidly, and many large corporations are investing in Al health care start-ups, which are predicted to be worth a total of $25 billion in 2020. Al is a participant in the digital revolution that is taking place in every sector of the economy. The accessibility of increasing digital data sourced from EHR and rapid advancements in computers and the web have created ideal conditions for the growth of Al.
Al will continue to play a significant role in many areas of cardiovascular care in the near future, including cardiac imaging, developing algorithms from large databases traced with general guidelines, and predicting risk scores and outcomes. Significant clinical and financial benefits would result from innovative Al approaches in cardiology, which would aid in providing quick, accurate, and less inaccurate patient care. Physicians shouldn't be afraid to embrace Al to improve workflow dynamics; Al technology won't replace them.
The most popular Al application at the moment is automated medical image classification. More than half (of 129 (58%) of the 126 (53%) devices in Europe and the 126 (58%) devices in the USA that were approved or CE labelled for radiological use were discovered in the most recent assessment of Al/ML-based medical devices that were approved in the USA and Europe between 2015 and 2020. Research has shown that Al can match or surpass human experts in various image-based medical specializations, such as radiology, where a network of convolutional neural networks trained with labelled frontal chest X-rays performed better than radiologists. Cardiology's deep learning algorithm identified a heart attack with accuracy on the same level as cardiologists' work.
|Parent Company Name
|FDA Approval Number
|AI ECG Tracker
|Shenzen Carewell Electronics
|Detection of Arrythmias using ECG data aquired from adult without pacemaker
|ECG 2.0 App
|Rhythm assessment Ambulatory ECG
|Gili Biosenser System
|Hardware and Software for Optical Camera based measurement of pulse rate, heart rate, and/or breathing rate
|LINQ II Insertable Cardiac Monitor, Zelda AI ECG Classification System
|Assessment of Arrythmia and alarm (Including ST segment measurement and alarm)
|Atrial fibrillation history feature
|Assessment of Atrial fibrillation
Due to this innovation, patients will receive care more quickly and accurately, and physicians can use Artificial Intelligence to enhance their practice without fear of being replaced. Regarding the future of heart health, the development of AI is significant.
An estimated 1.28 billion adults globally aged 30-79, suffer from hypertension; the majority of these individuals, or two-thirds, reside in low- and middle-income nations. It's estimated that 46% of adults with hypertension are ignorant of their illness. Only 42% of adult patients with hypertension receive a diagnosis and course of treatment. One in five adults (21%) who have hypertension can control it. Globally, one of the leading causes of premature death is hypertension. Heart attacks and strokes cause 85% of deaths. Elevated LDL-C levels were linked to 3.81 million (95% CI: 2.17-5.42 million) deaths overall related to cardiovascular disease in 2021. High LDL-C caused 1,090 DALYs per 100,000 people in 2021.
The demand for artificial intelligence (AI) has surged globally due to the rise in CAD across the globe. The need for cutting-edge technology to support diagnosis, treatment, and overall patient care has increased as heart-related problems become more common. AI provides valuable tools for managing cardiovascular health, including risk prediction, image interpretation, and decision support. Globally, cardiovascular diseases remain the primary cause of morbidity and death, encompassing Arrhythmia, stroke, and other associated conditions. These diseases are becoming more common, which has increased the demand for cutting-edge technologies like artificial intelligence to improve early detection, diagnosis, and individualized treatment.
This surge in demand reflects a recognition of AI's potential to enhance the efficiency and effectiveness of cardiovascular care, addressing the challenges posed by the growing burden of heart-related conditions on healthcare systems globally.
When using biomedical AI tools, there are significant concerns about diagnosing potentially fatal conditions and the potential for inaccurate evaluations. The effectiveness of these tools, even in cases where they are accurate, depends on how people (physicians, other healthcare workers, and patients) use them. Inadequate use can result in better scheduling, more treatment, and effective interventions. The wide availability of online and mobile AI solutions without appropriate and the general public, the lack of training provided to healthcare professionals on medical AI, and the minimal involvement of medical professionals and citizens in AI development all contribute to the inappropriate use of AI in healthcare. The impact of sizable datasets that may produce erroneous results exacerbates the misuse. Combining these factors prevents The cardiology market from adopting AI widely.
Al has numerous advantages, but there are also security and privacy concerns that need to be taken into account. The potential for hacking of data is one of the main hazards. Large volumes of highly confidential patient data are created, received, stored, and transmitted by healthcare providers. They become targets for online fraudsters and data security and privacy issues present challenges for the AI cardiology market. Combining these factors prevents The cardiology market from adopting AI widely.
In the field of cardiology, the growth in the market is driven by three main components: Hardware, Software, and Services.
The combined progress in these three components contributes to the overall growth of AI in cardiology, offering more advanced and efficient tools for diagnosing and treating cardiovascular conditions.
In 2021, North America, about 16.3 million Americans who are 20 years of age or older have coronary artery disease (CAD), which is 7% of the population. The condition afflicts 8.3 % of men and 6.1% of women. Heart disease-related medical costs are predicted to soar in the United States, from $126.2 billion in 2010 to $177.5 billion in 2040, a 41% increase. A robust healthcare system, the quick uptake of cutting-edge products, and the region's growing number of new artificial intelligence (AI) product approvals by regulators are some of the factors driving this upward trend.
In the Asia-Pacific region, with 9.85 million deaths from cardiovascular disease (CVD) in SEARO and WPRO in 2019, it accounted for 45% of all deaths from non-communicable diseases. CVD is the most prevalent cause of death in these regions. It is anticipated that the region's prevalence of cardiovascular disease (CVD) will rise sharply due to factors like an aging population, growing healthcare facilities, and an increase in the incidence of cardiovascular illnesses. For example, the Asian Development Bank projects that by 2050, one in four people in Asia and the Pacific will be over 60, or approximately 1.3 billion seniors—a fourfold increase in the population between 2010 and 2050.
Innovations and technological advancements drive the increasing demand for AI in the healthcare market. Companies are integrating AI to enhance diagnostics, treatment plans, and patient care. The potential for improved efficiency, accuracy, and cost-effectiveness in healthcare services fuels this surge. As the competition intensifies, organizations strive to adopt AI solutions to stay competitive, offering innovative solutions ranging from diagnostic tools to personalized medicine and data analytics. This trend is expected to shape the future of healthcare by revolutionizing patient outcomes and healthcare delivery.
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Namrata Bukshet is not just a market researcher; she is a detective, a storyteller, and a champion for healthier lives. Her journey began with a Bachelor of Pharmacy degree and a thirst for knowledge that led her to pursue a Post Graduate Diploma in Pharmaceutical Management. Her curiosity for consumer behaviour and market trends burned bright. She delved deep into the world of lifestyle disorders, conducting extensive research that sheds light on the intricate dance between personal choices and societal pressures. This exploration culminated in a groundbreaking paper on E-Biz: Indias 1st G2B Online Portal, presented at an international conference, where her insights resonated with a global audience. But Namrata has impact extends far beyond a single paper. Her expertise has shaped the very landscape of market research and pharmaceuticals. Her keen eye for detail and unwavering commitment to understanding the why behind consumer behaviour have made her a sought-after professional in the industry. She is the decoder ring that unlocks the secrets hidden within data, the translator who turns complex trends into actionable insights. As she continues to unravel the mysteries of consumer behaviour, she paves the way for a future where healthcare is not just about treatment but about understanding the why and building a bridge to a healthier world, one insightful discovery at a time.