Cardiac AI Monitoring and Diagnostics Market Size

Cardiac AI Monitoring and Diagnostics Market was valued at around USD 984.7 million in 2023 and is estimated to register a CAGR of over 26.9% between 2024 and 2032. Cardiac AI monitoring and diagnostics encompass the utilization of artificial intelligence (AI) technologies to monitor and diagnose various cardiac conditions. This innovative approach involves the application of machine learning algorithms and data analytics to interpret cardiac data, including electrocardiograms (ECGs), echocardiograms, cardiac MRI scans, and patient demographics. By analyzing these data sets, AI systems can identify anomalies, predict cardiovascular risks, detect arrhythmias, monitor heart failure progression, analyze cardiac imaging, and personalize treatment plans. The increasing technological advancement in cardiac AI monitoring and diagnostics is significant driving factor for the market.

For instance, according to National Library of Medicine, in 2023, AI technologies, including machine learning algorithms such as logistic regression for estimating the likelihood of cardiovascular diseases, deep learning models for precise analysis of cardiovascular images, natural language processing for extracting relevant information from clinical documents, and computer-aided diagnosis systems for offering diagnostic recommendations to clinicians by analyzing medical images, are revolutionizing the field of cardiovascular healthcare. These technologies play a crucial role in improving diagnosis, treatment management, and risk prediction of cardiac diseases. 

Furthermore, growing prevalence of cardiovascular diseases, growing demand for remote monitoring solutions, and increasing focus on precision medicine, are the contributing factors stimulating the growth of the market.

Cardiac AI Monitoring and Diagnostics Market Trends

The rising prevalence of cardiovascular diseases (CVDs) is a driving factor for the growth of the market. CVDs including coronary artery disease, heart failure, arrhythmias, and stroke are among the leading causes of morbidity and mortality worldwide.

• For instance, according to the National Library of Medicine, in 2024, coronary artery disease (CAD) accounts for approximately 6,10,000 deaths annually (estimated 1 in 4 deaths) and is the leading cause of mortality in the U.S. Also, it is the third leading cause of mortality worldwide and is associated with 17.8 million deaths annually.
  
• AI algorithms can analyze large volumes of patient data including medical history, genetic information, and real-time physiological data from wearable devices to identify early signs of cardiovascular diseases. Early detection allows for timely intervention and management, potentially preventing serious complication.
  
• Additionally, it facilitates the analysis of large-scale clinical datasets to identify novel cardiac biomarkers which estimated to reach 31.2 billion by 2032, genetic associations, and treatment targets for cardiovascular diseases. This accelerates the pace of research and innovation in cardiology, leading to the development of new therapies, diagnostic tools, and preventive strategies, thereby escalating the growth of the market.
  

Cardiac AI Monitoring and Diagnostics Market Analysis

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Based on product, the market is divided into hardware, software solutions, and services. The hardware segment is estimated to account for USD 5 billion by 2032.

• Hardware advancements particularly in graphics processing units (GPUs) and tensor processing units (TPUs) are pivotal in boosting cardiac AI monitoring and diagnostics by facilitating the execution of computation-intensive algorithms. With significantly enhanced computational power these advanced processors enable real-time analysis of cardiac data, expediting diagnostic insights and decision-making processes.
  
• Miniaturized and energy-efficient hardware solutions such as system-on-chip (SoC) platforms and field-programmable gate arrays (FPGAs) enable AI algorithms to be deployed directly on wearable devices or medical sensors. This facilitates real-time cardiac monitoring at the point of care or even in remote settings without the need for continuous internet connectivity improving accessibility and patient convenience.
  
• Additionally, solid-state storage technologies such as solid-state drives (SSDs) and non-volatile memory express (NVMe) offer high-speed data access facilitating efficient storage and retrieval of large volumes of cardiac data. This includes patient records, medical images, and continuous monitoring data, supporting comprehensive AI-driven analytics and retrospective analysis in cardiovascular healthcare. Thus, stimulating the growth of the segment.

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Based on type, the cardiac AI monitoring and diagnostics market is bifurcated into cardiac diagnostics and cardiac monitoring. Further, the cardiac diagnostics is segmented into imaging, ECG-based, and other diagnostic techniques. The cardiac diagnostics segment accounted for USD 574.1 million in 2023.

• AI algorithms can detect subtle patterns or abnormalities in cardiac data enabling early identification of cardiovascular diseases before symptoms manifest. This early detection allows for timely intervention and treatment potentially preventing serious complications.
  
• Diagnostic tools streamline the diagnostic process by automating routine tasks such as image analysis and data interpretation. This increases efficiency in healthcare delivery, allowing clinicians to focus their time and expertise on more complex cases and patient care.
  
• Further, AI-based monitoring systems can continuously track cardiac parameters such as heart rate, rhythm, and blood pressure in real-time. This continuous monitoring provides clinicians with comprehensive insights into patient’s cardiac health status, facilitating proactive management, and early intervention to detect abnormalities. Thus, such aforementioned factors are expected to augment the segmental growth.
  

Based on application, the cardiac AI monitoring and diagnostics market is segmented into cardiac arrhythmias, stroke, ischemic heart disease, stenosis, and other applications. The cardiac arrhythmias segment is estimated to account for USD 2.7 billion revenue by 2032.

• AI algorithms can analyze continuous electrocardiogram (ECG) recordings to detect subtle changes in heart rhythm indicative of arrhythmias. By continuously monitoring patients, AI systems can identify arrhythmic events early allowing for timely intervention and treatment.
  
• AI-based arrhythmia detection algorithms can achieve high levels of accuracy in distinguishing between different types of arrhythmias including atrial fibrillation, ventricular tachycardia, and bradycardia. This improved accuracy reduces the likelihood of false positives or false negatives in diagnosis, leading to more effective patient management.
  
• Further, continuous monitoring of heart rhythm via AI-powered wearable devices featuring integrated ECG sensors enables timely detection of arrhythmic episodes even in non-clinical settings. This ongoing monitoring provides valuable insights into arrhythmia patterns and triggers, fostering a better understanding of these conditions.
  
• Thus, the aforementioned factors are anticipated to boost segmental growth.
  

Based on end-use, the market is classified into hospitals, specialty clinics, diagnostic centres, research and academic institutes, and other end-users. The hospital segment accounted for USD 348 million in 2023.

• Hospitals utilize AI-powered ECG analysis software to detect and classify various types of arrhythmias including atrial fibrillation, ventricular tachycardia, and bradycardia. This enables prompt diagnosis and appropriate management of arrhythmic disorders reducing the risk of complications such as stroke or sudden cardiac arrest.
  
• AI algorithms aid clinicians in interpreting cardiac imaging tests such as echocardiograms, cardiac MRI scans, and CT angiograms. These algorithms can detect subtle abnormalities, measure cardiac function, and assist in diagnosing conditions such as coronary artery disease, cardiomyopathies, and valvular disorders.
  
• Moreover, hospitals deploy AI-enabled remote monitoring systems that allow continuous tracking of patient’s cardiac health outside clinical settings. Wearable cardiac devices equipped with AI algorithms transmit real-time data including heart rate, rhythm, and blood pressure to healthcare providers, enabling early detection of cardiac abnormalities and timely intervention. Thus, all these aforementioned factors are expected to drive segmental growth.

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North America cardiac AI monitoring and diagnostics market accounted for USD 399.2 million revenue in 2023 and is predicted to witness substantial market growth over the analysis timeline.

• North America leads the global charge in healthcare technology innovation with a multitude of companies and research institutions spearheading the development of AI algorithms and solutions customized for cardiac monitoring and diagnostics.
  
• The prevalence of cardiovascular diseases (CVDs) is notably elevated in North America, attributed to factors such as high rates of obesity, sedentary lifestyles, and an aging population. For instance, the Centers for Disease Control and Prevention (CDCP) reports that heart disease claims one life every 33 seconds in the U.S., with nearly 695,000 deaths attributed to heart disease in 2021, accounting for one out of every five deaths.
  
• The region boasts world-renowned medical institutions, healthcare professionals, and clinical experts with specialized knowledge in cardiovascular medicine. Their expertise in cardiology coupled with the integration of AI technologies, enables the delivery of high-quality cardiac care, accurate diagnostics, and personalized treatment strategies. Thus, these factors are expected to propel market growth in North America.
  

Cardiac AI Monitoring and Diagnostics Market Share

The cardiac AI monitoring and diagnostics industry is competitive in nature, with several large multinationals and small and mid-sized companies competing in the industry. The development and launch of novel advanced products and services based on different technologies is among a key market strategy. Some of the leading industry players have a notable presence in the market.

Cardiac AI Monitoring and Diagnostics Market Companies

Some of the eminent market participants operating in the industry include:

• CardiAI
• Cleerly, Inc.
• DiA Imaging Analysis
• HeartVista Inc.
• IDOVEN
• Koninklijke Philips N.V.
• RSIP Vision
• Tempus
• Ultrasight
• Ultromics Limited
• Viz.ai, Inc.
  

Cardiac AI Monitoring and Diagnostics Industry News:

• In January 2024, Cleerly announced the launch of Cleerly ISCHEMIA. The software cleared by the FDA under the 510(k) medical device pathway, utilizes automated machine learning to support diagnostic decisions. Cleerly ISCHEMIA is designed as an aid for analyzing coronary computed tomography angiography (CCTA) scans processed with Cleerly LABS software. This development marks a significant advancement in cardiac diagnostics, benefiting company by expanding its product offerings and enhancing its position as a leader in the field of heart disease diagnosis.
  
• In November 2021, Koninklijke Philips N.V. announced the completion of its acquisition of Cardiologs. The acquisition aimed to bolster Philips cardiac monitoring and diagnostics portfolio by integrating Cardiologs innovative software technology and ECG analysis services. This strategic move positioned Philips as a leader in the field of cardiac healthcare, enhancing its ability to provide advanced diagnostic solutions to healthcare providers worldwide.
  

The cardiac AI monitoring and diagnostics market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 – 2032 for the following segments:

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Market, By Product

• Hardware
• Software solutions
• Services

Market, By Type

• Cardiac diagnostics
  • Imaging
  • ECG-based
  • Other diagnostic techniques 
• Cardiac monitoring

Market, By Application

• Cardiac arrhythmias
• Stroke
• Ischemic heart disease
• Stenosis
• Other applications

Market, By End-use

• Hospitals
• Specialty clinics
• Diagnostic centers
• Research and academic institutes
• Other end-users

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa