Artificial Intelligence In Cardiology Market To Reach $4.8 Billion By 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.

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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

Artificial Intelligence In Cardiology Market Segmentation

Grand View Research has segmented the global artificial intelligence in cardiology market report based on component, application, medical condition, and region:

Artificial Intelligence In Cardiology Component Outlook (Revenue, USD Million, 2018 - 2030)

• Software

• Hardware

• Services

Artificial Intelligence In Cardiology Application Outlook (Revenue, USD Million, 2018 - 2030)

• Diagnosis

• Prediction

• Drug Discovery

• Others

Artificial Intelligence In Cardiology Medical Condition Outlook (Revenue, USD Million, 2018 - 2030)

• Cardiac Arrhythmias

• Heart Failure

• Ischemic Heart Disease /CAD

• Others

Artificial Intelligence In Cardiology Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • South Korea

  • Thailand

• Latin America

  • Brazil

  • Mexico

  • Argentina

• Middle East & Africa

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players in Artificial Intelligence In Cardiology Market

• IDOVEN

• CardiAI

• Ultromics Limited

• Arterys Inc. (Tempus)

• Cardiologs (Koninklijke Philips N.V.)

• Ultrasight

• DiA Imaging Analysis (Koninklijke Philips N.V.)

• Vista AI

• Viz ai

• RSIP Vision

• Cleerly, Inc.