The Cardiovascular Digital Solutions Market was valued for $84.4 billion in 2022 and is estimated to reach $154.0 billion by 2032, exhibiting a CAGR of 6.2% from 2023 to 2032. The cardiovascular digital solutions market refers to technology-based solutions that aim to improve the diagnosis, treatment, and management of cardiovascular diseases using digital tools and platforms. Cardiovascular diseases, including conditions such as heart disease, stroke, and hypertension, are significant causes of morbidity and mortality worldwide. Traditional approaches to cardiovascular care often involve manual processes, paper-based records, and limited real-time monitoring. Cardiovascular digital solutions offer innovative ways to revolutionize patient care in the field.
The cardiovascular digital solutions market is driven by rising prevalence of cardiac diseases such as hypertension, cardiac arrythmia, stroke among others, surge in adoption of digital technologies by healthcare providers and patients and technological advancements in remote patient monitoring. The rising prevalence of cardiovascular disease has emerged as a significant driver for the cardiovascular digital solutions market. Cardiovascular disease, including conditions such as coronary artery disease, heart failure, and stroke, continues to be a leading cause of morbidity and mortality worldwide. According to Center for Disease Control and Prevention, in 2021, it was estimated that about 695,000 people in the U.S. died from heart disease. Furthermore, the coronary heart disease is the most common type of heart disease, killing 375,476 people in 2021. Traditional approaches to cardiovascular care often rely on periodic visits to healthcare facilities, which may not be sufficient for comprehensive monitoring and timely intervention. Digital solutions, on the other hand, enable continuous monitoring of vital signs, such as heart rate, blood pressure, and oxygen levels, through wearable devices or sensors. This continuous monitoring allows for early detection of any abnormalities or warning signs, facilitating timely intervention and reducing the risk of adverse events. Thus, the rise in prevalence of cardiovascular disorders is expected to act as a major driver for cardiovascular digital solutions market.
In addition, the rise in adoption of digital technologies such as wearable devices have emerged as a significant driver for the cardiovascular digital solutions market. The integration of advanced digital tools and technologies in the healthcare industry has revolutionized the way cardiovascular diseases are diagnosed, treated, and managed. Furthermore, several hospitals and other healthcare facilities adopted cardiac patches for remote patient monitoring. In March 2021, North Bristol NHS Trust (NBT), a National Health Service, adopted Zio by iRhythm (leading digital health care company) in its cardiology and stroke departments. North Bristol NHS Trust (NBT) evaluated and compared four months of data from cardiology patients using Holter devices pre-Covid with four months of data from patients using Zio patches post-Covid. The evaluation shows that use of the Zio service has resulted in a decrease in waiting times for monitoring. Furthermore, the staff time requirements in the Zio pathway are only 33% as that of the traditional methods (Holter monitors). Thus, the rise in adoption of digital technologies such as wearable devices for cardiac monitoring by healthcare providers and patients is expected to drive the growth of the market.
Furthermore, the technological advancement in remote patient monitoring is expected to drive the growth of the market. For instance, KardiaMobile 6L by AliveCor, a leading medical device, is a portable medical device that enables individuals to monitor their heart health easily and conveniently at home. It is a compact, FDA-cleared, and clinically validated electrocardiogram (EKG) device designed to be used with compatible smartphones or tablets. Thus, the technological advancement in remote patient monitoring leads to better diagnosis and patient monitoring at home, resulting in the growth of the market.
However, high implementation costs of cardiac devices might act as a restraint for the growth of the market. On the other hand, integration of artificial intelligence in cardiac monitoring devices is expected to serve as a growth opportunity in the cardiology digital solutions market.
The cardiovascular digital solutions market is segmented on the basis of service, component, end user and region. By service, the market is categorized into unobtrusive monitoring, CVD health informatics, and cardiac rehabilitation programs. By component, the market is categorized into devices and software. On the basis of end user, the market is categorized into healthcare organization, healthcare consumer, and others. The others include govt institute, payer. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Major key players that operate in the global cardiovascular digital solutions market AlivCor, Inc, Apple Inc., General Electric, Verily Life Sciences LLC, Koninklijke Philips N.V., HeartFlow, Inc, iRhythm Technologies, Inc., Baxter International Inc, Cardiac Insight Inc., and Cardiac Insight Inc.
The cardiovascular digital solutions market is driven by rising prevalence of cardiac diseases such as hypertension, cardiac arrythmia, stroke among others, surge in adoption of digital technologies by healthcare providers and patients and technological advancements in remote patient monitoring. The rising prevalence of cardiovascular disease has emerged as a significant driver for the cardiovascular digital solutions market. Cardiovascular disease, including conditions such as coronary artery disease, heart failure, and stroke, continues to be a leading cause of morbidity and mortality worldwide. According to Center for Disease Control and Prevention, in 2021, it was estimated that about 695,000 people in the U.S. died from heart disease. Furthermore, the coronary heart disease is the most common type of heart disease, killing 375,476 people in 2021. Traditional approaches to cardiovascular care often rely on periodic visits to healthcare facilities, which may not be sufficient for comprehensive monitoring and timely intervention. Digital solutions, on the other hand, enable continuous monitoring of vital signs, such as heart rate, blood pressure, and oxygen levels, through wearable devices or sensors. This continuous monitoring allows for early detection of any abnormalities or warning signs, facilitating timely intervention and reducing the risk of adverse events. Thus, the rise in prevalence of cardiovascular disorders is expected to act as a major driver for cardiovascular digital solutions market.
In addition, the rise in adoption of digital technologies such as wearable devices have emerged as a significant driver for the cardiovascular digital solutions market. The integration of advanced digital tools and technologies in the healthcare industry has revolutionized the way cardiovascular diseases are diagnosed, treated, and managed. Furthermore, several hospitals and other healthcare facilities adopted cardiac patches for remote patient monitoring. In March 2021, North Bristol NHS Trust (NBT), a National Health Service, adopted Zio by iRhythm (leading digital health care company) in its cardiology and stroke departments. North Bristol NHS Trust (NBT) evaluated and compared four months of data from cardiology patients using Holter devices pre-Covid with four months of data from patients using Zio patches post-Covid. The evaluation shows that use of the Zio service has resulted in a decrease in waiting times for monitoring. Furthermore, the staff time requirements in the Zio pathway are only 33% as that of the traditional methods (Holter monitors). Thus, the rise in adoption of digital technologies such as wearable devices for cardiac monitoring by healthcare providers and patients is expected to drive the growth of the market.
Furthermore, the technological advancement in remote patient monitoring is expected to drive the growth of the market. For instance, KardiaMobile 6L by AliveCor, a leading medical device, is a portable medical device that enables individuals to monitor their heart health easily and conveniently at home. It is a compact, FDA-cleared, and clinically validated electrocardiogram (EKG) device designed to be used with compatible smartphones or tablets. Thus, the technological advancement in remote patient monitoring leads to better diagnosis and patient monitoring at home, resulting in the growth of the market.
However, high implementation costs of cardiac devices might act as a restraint for the growth of the market. On the other hand, integration of artificial intelligence in cardiac monitoring devices is expected to serve as a growth opportunity in the cardiology digital solutions market.
The cardiovascular digital solutions market is segmented on the basis of service, component, end user and region. By service, the market is categorized into unobtrusive monitoring, CVD health informatics, and cardiac rehabilitation programs. By component, the market is categorized into devices and software. On the basis of end user, the market is categorized into healthcare organization, healthcare consumer, and others. The others include govt institute, payer. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Major key players that operate in the global cardiovascular digital solutions market AlivCor, Inc, Apple Inc., General Electric, Verily Life Sciences LLC, Koninklijke Philips N.V., HeartFlow, Inc, iRhythm Technologies, Inc., Baxter International Inc, Cardiac Insight Inc., and Cardiac Insight Inc.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the cardiovascular digital solutions market analysis from 2022 to 2032 to identify the prevailing cardiovascular digital solutions market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the cardiovascular digital solutions market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global cardiovascular digital solutions market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Service
- Unobtrusive Testing
- CVD Health Informatics
- Cardiac Rehab Programs
By Component
- Devices
- Software
By End User
- Healthcare organization
- Healthcare consumer
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Verily Life Sciences LLC
- iRhythm Technologies, Inc.
- Murata Manufacturing Co., Ltd.
- Cardiac Insight Inc.
- Apple Inc.
- AlivCor, Inc.
- HeartFlow, Inc
- Koninklijke Philips N.V.
- Baxter International Inc.
- General Electric
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: CARDIOVASCULAR DIGITAL SOLUTIONS MARKET, BY SERVICE
CHAPTER 5: CARDIOVASCULAR DIGITAL SOLUTIONS MARKET, BY COMPONENT
CHAPTER 6: CARDIOVASCULAR DIGITAL SOLUTIONS MARKET, BY END USER
CHAPTER 7: CARDIOVASCULAR DIGITAL SOLUTIONS MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to this report, the cardiovascular digital solutions market was valued at $84.4 billion in 2022, and is estimated to reach $154.1 billion by 2032, growing at a CAGR of 6.2% from 2023 to 2032. Cardiovascular digital solutions refer to technology-based tools and platforms designed to address various aspects of cardiovascular health, including prevention, diagnosis, monitoring, and management of heart-related conditions. Cardiovascular digital solutions leverage digital technologies to enhance patient care, improve outcomes, and provide healthcare professionals with valuable insights. These solutions leverage technology such as mobile apps, wearable devices, telemedicine platforms, artificial intelligence (AI), data analytics, and remote monitoring to provide more efficient and effective healthcare services for individuals with cardiovascular conditions.Key factors driving the growth of cardiovascular digital solutions market owing to rising prevalence of cardiac diseases such as coronary artery disease, heart failure, arrhythmias, and hypertension, and rise in adoption of digital technologies by healthcare providers and patients. Over the past few decades, there has been an alarming surge in the incidence of cardiovascular disorders, encompassing a spectrum of conditions such as coronary artery disease, heart failure, arrhythmias, and hypertension. This surge can be attributed to a multitude of factors, including sedentary lifestyles, dietary imbalances, escalating stress levels, and an aging global population. According to Journal of the American College of Cardiology, in 2022, cardiovascular diseases (CVDs) have collectively remained the leading causes of death worldwide. In response to this burgeoning health crisis, there has been a notable shift towards innovative digital solutions that offer advanced tools for both prevention and management of cardiac ailments. Thus, increasing incidence of cardiovascular disorders has catalyzed the growth of the cardiovascular digital solutions market.
Furthermore, the cardiovascular digital solutions market has experienced a significant surge in growth, largely attributed to the widespread adoption of digital technologies by both healthcare providers and patients. The integration of electronic health records (EHRs) and telemedicine platforms has streamlined patient data management, enabling quicker access to crucial medical information and facilitating remote consultations. Additionally, advanced diagnostic tools such as wearable devices and mobile applications have empowered healthcare professionals to monitor patients' cardiac health in real-time, enabling early detection of potential issues and more personalized treatment plans. According to National Coordinator for Health Information Technology (ONC), As of 2021, nearly 9 in 10 (88%) of U. S. office-based physicians adopted electronic health record. In addition, patients have become active participants in managing their cardiovascular health through the utilization of digital tools. The advent of smartphone apps, wearable fitness trackers, and remote monitoring devices has allowed individuals to proactively track their heart rate, blood pressure, and activity levels. This newfound connectivity has engendered a more comprehensive understanding of one's own health, enabling patients to make informed decisions regarding lifestyle choices and seek medical attention when necessary. The convenience of telemedicine has also played a pivotal role in encouraging patients to engage in regular consultations with healthcare providers, reducing geographical barriers and enhancing healthcare accessibility. The symbiotic relationship between healthcare providers and patients in adopting digital technologies has fostered the growth of the cardiovascular digital solutions market.
Remote Patient Monitoring (RPM) is one of the recent advancements in modern healthcare technologies. This emerging methodology of overseeing patient care is a way to adapt to the evolving needs of patients. RPM allows patients to better understand their current health, eliminating the need to cover consistent hospitalization and nursing costs. Through RPM systems, healthcare delivery goes beyond the four walls of medical facilities. In 2023, researchers at Robert Wood Johnson University Hospital, developed an experimental wrist-worn device which could predict troponin-I and obstructed arteries with 90% accuracy in five minutes. According to researchers, the new wearable sensor could help augment that diagnostic process by providing an early assessment of the likelihood that a patient is having a heart attack before lab results are available.
The cardiovascular digital solutions market is segmented on the basis of service, component, end user and region. By service, the market is categorized into unobtrusive monitoring, CVD health informatics, and cardiac rehabilitation programs. By component, the market is categorized into devices and software. On the basis of end user, the market is categorized into healthcare organization, healthcare consumer, and others. The others include govt institute, payer. Region-wise, the market is analyzed across North America (the U. S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
The key players profiled in the study include AlivCor, Inc, Apple Inc., General Electric, Verily Life Sciences LLC, Koninklijke Philips N. V., HeartFlow, Inc, iRhythm Technologies, Inc., Baxter International Inc, Cardiac Insight Inc., and Cardiac Insight Inc.
Key Market Insights
On the basis of service, the unobtrusive monitoring segment was the highest contributor to the market in 2022.On the basis of component, the software segment was the highest contributor to the market in 2022.
On the basis of end user, the healthcare consumer segment was highest contributor to the market in 2022
On the basis of region, North America generated the largest revenue in 2022. However, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.
Companies Mentioned
- Verily Life Sciences LLC
- iRhythm Technologies, Inc.
- Murata Manufacturing Co., Ltd.
- Cardiac Insight Inc.
- Apple Inc.
- AlivCor, Inc.
- HeartFlow, Inc
- Koninklijke Philips N.V.
- Baxter International Inc.
- General Electric
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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