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Cardiac AI Monitoring and Diagnostics Market Size to Expand Lucratively and Reach $7.78 Bn to 2031 - Explained Details | Updated InsightAce Study


JERSEY CITY, N.J., Dec. 8, 2023 /PRNewswire/ -- InsightAce Analytic Pvt. Ltd. announces the release of the market assessment report on "Global Cardiac AI Monitoring and Diagnostics Market Size, Share & Trends Analysis Report By Product (Software and Hardware), By Type (Imaging, ECG-based, Cardiac Monitoring, and Others), By Application (Cardiac Arrhythmias, Cardiac Stroke, Ischemic Heart Disease/CAD, and Others), By End Users (Hospitals, Diagnostic Centers, and Other End Users) Market Outlook And Industry Analysis 2031"

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According to the latest research by InsightAce Analytic, the global Cardiac AI Monitoring and Diagnostics Market size is valued at US$ 1.04 Bn in 2022, and it is expected to reach US$ 7.78 Bn in 2031, recording a promising CAGR of 25.24% during the forecast period of 2023-2031.

Cardiac AI Monitoring and Diagnostics Market Report Scope

Report Attribute

Specifications

Market Size Value In 2022

USD 1.04 Bn

Revenue Forecast In 2031

USD 7.78 Bn

Growth Rate CAGR

CAGR of 25.24 % from 2023 to 2031

Quantitative Units

Representation of revenue in US$ Bn and CAGR from 2023 to 2031

Historic Year

2019 to 2022

Forecast Year

2023-2031

Report Coverage

The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends

Segments Covered

By Product, By Type, By Application, By End Users

Regional Scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country Scope

U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia

Competitive Landscape

Aidoc, Tempus Labs, Canon, Inc., Circle Cardiovascular Imaging Inc., General Electric Company, HeartFlow, Inc., iRhythm Technologies, Inc., Koninklijke Philips N.V., Siemens Healthineers AG, Viz.ai, Ultromics, Ltd.,

Ultromics, Ltd., Cathworks, Boston Scientific Corporation, and others.

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The future of cardiology will depend on many new technologies, including artificial intelligence (AI), precision medicine and the Internet of Things (IoT). AI/ML has increasingly been used to detect and diagnose cardiac diseases.

Cardiac AI monitoring and diagnosis include using artificial intelligence (AI) technology in cardiology to help diagnose and monitor various heart diseases. Incorporating advanced AI technologies will offer complete, reliable and accessible care, which can identify patients at an earlier stage of disease and offer the proper care to help save patients' lives. In addition, technology can improve clinical decision-making through real-time data analysis. Cardiac AI diagnostic solutions include AI-integrated hardware solutions,  AI-based software solutions, AI-based cardiac monitoring solutions, AI-based ECG devices, etc.

The COVID-19 pandemic has highlighted the need for Artificial intelligence (Al) in Cardiology and has accelerated its adoption in hospitals. The impact has also surged the demand for AI solutions to improve the management of patients with cardiovascular disease.

Some of the prominent players in the Cardiac AI Monitoring and Diagnostics Market are:

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Market Dynamics:

Drivers:

The high prevalence of cardiovascular diseases globally, the growing need to improve accuracy in diagnosing heart diseases, the rising demand for effective and cutting-edge devices, and the adoption of advanced technologies in cardiac monitoring & diagnosis are some of the major factors contributing to the growth of the cardiac AI monitoring and diagnostics market.

The increasing burden of cardiovascular diseases increases the demand for early detection & diagnosis of cardiac diseases, which will propel business growth in the upcoming years. In addition, launching novel products with new features is expected to support market growth. Furthermore, integrating artificial intelligence (AI) in cardiovascular devices enhances patient care and reduces cardiac patient mortality.

Moreover, product innovations & launches, partnerships, collaborations, mergers and acquisitions, and funding are key strategies that players in the cardiac AI monitoring and diagnostics market adopt to improve their overall position in the market. 

Challenges:

Maintaining data privacy is a big challenge in this field. Data protection involves properly handling sensitive data, including personal information or other non-personal data. There is still a lack of regulations on using patient health information generated from consumer devices by third-party companies. Confidentiality is critical to information transfer and sharing. Thus, data protection & privacy concerns are predicted to hamper the business expansion during the forecast period.

Regional Trends:

North America held the highest Cardiac AI Monitoring and Diagnostics Market revenue share in 2022 and is expected to continue its growth over the projection period. This is due to the fast adoption of cutting-edge technologies, well-established healthcare infrastructure, and the region's rising regulatory approvals of AI-based systems.

The Asia Pacific region is anticipated to rise fastest during the forecast period (2023 to 2031). This growth is due to various factors such as the growing heart diseases, the high demand for early disease diagnosis, developing healthcare infrastructure, and the growing collaborations & partnerships activities in this region.

Key Developments In The Market:

Market Segments

Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2023 to 2031 based on Product

Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2023 to 2031 based on Type

Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2023 to 2031 based on Application

Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2023 to 2031 based on End users

Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2023 to 2031 based on Region

North America Cardiac AI Monitoring and Diagnostics Market Revenue (US$ Bn) by Country, 2023 to 2031

Europe Cardiac AI Monitoring and Diagnostics Market Revenue (US$ Bn) by Country, 2023 to 2031

Asia Pacific Cardiac AI Monitoring and Diagnostics Market Revenue (US$ Bn) by Country, 2023 to 2031

Latin America Cardiac AI Monitoring and Diagnostics Market Revenue (US$ Bn) by Country, 2023 to 2031

Middle East & Africa Cardiac AI Monitoring and Diagnostics Market Revenue (US$ Bn) by Country, 2023 to 2031

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Why should buy this report:

Other Related Reports Published by InsightAce Analytic:

https://www.insightaceanalytic.com/report/ai-in-vitro-diagnostics-market/1773

https://www.insightaceanalytic.com/report/global-cardiac-assist-devices-market/1236

https://www.insightaceanalytic.com/report/global-cardiac-rhythm-management-devices-market-/1106

About Us:

InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets, and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis of key market insights in a timely and cost-effective manner.

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InsightAce Analytic Pvt. Ltd.
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SOURCE InsightAce Analytic Pvt. Ltd


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