The global artificial intelligence in cardiology market size was estimated to be USD 0.997 billion in 2023 and is expected to reach at USD 25.23 billion by 2034 with a CAGR of 34.14% during the forecast period 2024-2034. Growing prevalence of cardiovascular diseases, rising emphasis of cardiac physicians on improving accuracy in diagnosing heart diseases, surge in technological advancement in cardiac imaging, increased demand for AI solutions that can improve patient outcomes and support the effective management of patients with cardiovascular conditions, growing research & development activities, rising regulatory approvals, and surge in launch of AI-based platforms are some of the key factors boosting the market growth.
Surge in launch of AI-based platforms is predicted to boost the market growth during the forecast period. Artificial intelligence is leveraged to enhance diagnosis, treatment planning, and patient outcomes in various healthcare applications. This includes image analysis for disease detection and diagnosis, predictive analytics for risk assessment and early intervention, and personalized treatment planning based on patient-specific data. Additionally, AI provides outcome predictions for heart failure (HF) patients and facilitates non-invasive diagnosis of coronary artery disease (CAD). These applications showcase the versatility and potential of AI in transforming healthcare practices. For instance, in February 2023, Cardio Diagnosis Holdings has unveiled PrecisionCHD, an integrated genetic-epigenetic blood test designed for the early diagnosis of coronary heart diseases. This platform, incorporating artificial intelligence, marks the second clinical test from the company to leverage AI in its diagnostic capabilities.
By component, software was the highest revenue-grossing segment in the global artificial intelligence in cardiology market in 2023 owing to its productivity & provides more effective heart analysis, growing demand for AI-enabled diagnostic solutions that offer highly accurate diagnoses for cardiac patients, and surge in number of software companies adopting various strategies, including securing funding & forming strategic partnerships, among others. For instance, in July 2022, Cleerly secured a significant Series C funding of USD 192 million to advance the development of AI-based Cardiac CT software focused on diagnosing atherosclerosis. This substantial funding reflects a growing recognition of the potential of AI in improving cardiovascular diagnostics and underscores the significance of innovative solutions in the healthcare technology landscape. Additionally, services is predicted to grow at fastest CAGR during the forecast period owing to the growing prevalence of cardia disorders, rising technological advancements, and surge in adoption of novel technologies.
By application, coronary artery disease was the highest revenue-grossing segment in the global artificial intelligence in cardiology market in 2023 owing to increasing incidences of coronary artery disease, growing number of individuals living with coronary artery disease, rising adoption of AI in diagnosing & treating the condition, and surge in collaborations within market players. For instance, in July 2022, Anumana has collaborated with Novartis to develop AI algorithms for detecting subclinical heart disease using electrocardiograms (ECGs). This partnership aims to advance and introduce AI algorithms for ECGs, assisting physicians in rapidly identifying and treating patients with previously undetected life-threatening heart conditions. Additionally, arrhythmia is predicted to grow at fastest CAGR during the forecast period owing to the high accuracy of AI in detecting arrhythmias, growing adoption of AI in arrhythmia applications, and surge in number of people suffering from these disorders.
North America region is anticipated for the highest revenue share during the forecast period owing to the growing adoption of technologically advanced products, surge in well-established healthcare infrastructure, and rising regulatory approvals of AI products. For instance, in February 2023, DiA Imaging Analysis has obtained clearance from the U.S. FDA for its LVivo IQS software solution, enabling the delivery of high-quality echocardiography images to physicians. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the surge in geriatric population, increasing healthcare infrastructure, growing prevalence of cardiovascular diseases, and rising adoption of AI in cardiac diagnosis & treatment. For instance, in May 2023, Medtronic plc has been awarded the "Best New Monitoring Solution" in the 7th annual MedTech Breakthrough Awards program for its AccuRhythm AI algorithm technology. This artificial intelligence algorithm enhances the accuracy of heart rhythm event data from the Medtronic LINQ II™ insertable cardiac monitor (ICM), enabling physicians to provide improved care for individuals with abnormal heart rhythms.
Surge in launch of AI-based platforms is predicted to boost the market growth during the forecast period. Artificial intelligence is leveraged to enhance diagnosis, treatment planning, and patient outcomes in various healthcare applications. This includes image analysis for disease detection and diagnosis, predictive analytics for risk assessment and early intervention, and personalized treatment planning based on patient-specific data. Additionally, AI provides outcome predictions for heart failure (HF) patients and facilitates non-invasive diagnosis of coronary artery disease (CAD). These applications showcase the versatility and potential of AI in transforming healthcare practices. For instance, in February 2023, Cardio Diagnosis Holdings has unveiled PrecisionCHD, an integrated genetic-epigenetic blood test designed for the early diagnosis of coronary heart diseases. This platform, incorporating artificial intelligence, marks the second clinical test from the company to leverage AI in its diagnostic capabilities.
By component, software was the highest revenue-grossing segment in the global artificial intelligence in cardiology market in 2023 owing to its productivity & provides more effective heart analysis, growing demand for AI-enabled diagnostic solutions that offer highly accurate diagnoses for cardiac patients, and surge in number of software companies adopting various strategies, including securing funding & forming strategic partnerships, among others. For instance, in July 2022, Cleerly secured a significant Series C funding of USD 192 million to advance the development of AI-based Cardiac CT software focused on diagnosing atherosclerosis. This substantial funding reflects a growing recognition of the potential of AI in improving cardiovascular diagnostics and underscores the significance of innovative solutions in the healthcare technology landscape. Additionally, services is predicted to grow at fastest CAGR during the forecast period owing to the growing prevalence of cardia disorders, rising technological advancements, and surge in adoption of novel technologies.
By application, coronary artery disease was the highest revenue-grossing segment in the global artificial intelligence in cardiology market in 2023 owing to increasing incidences of coronary artery disease, growing number of individuals living with coronary artery disease, rising adoption of AI in diagnosing & treating the condition, and surge in collaborations within market players. For instance, in July 2022, Anumana has collaborated with Novartis to develop AI algorithms for detecting subclinical heart disease using electrocardiograms (ECGs). This partnership aims to advance and introduce AI algorithms for ECGs, assisting physicians in rapidly identifying and treating patients with previously undetected life-threatening heart conditions. Additionally, arrhythmia is predicted to grow at fastest CAGR during the forecast period owing to the high accuracy of AI in detecting arrhythmias, growing adoption of AI in arrhythmia applications, and surge in number of people suffering from these disorders.
North America region is anticipated for the highest revenue share during the forecast period owing to the growing adoption of technologically advanced products, surge in well-established healthcare infrastructure, and rising regulatory approvals of AI products. For instance, in February 2023, DiA Imaging Analysis has obtained clearance from the U.S. FDA for its LVivo IQS software solution, enabling the delivery of high-quality echocardiography images to physicians. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the surge in geriatric population, increasing healthcare infrastructure, growing prevalence of cardiovascular diseases, and rising adoption of AI in cardiac diagnosis & treatment. For instance, in May 2023, Medtronic plc has been awarded the "Best New Monitoring Solution" in the 7th annual MedTech Breakthrough Awards program for its AccuRhythm AI algorithm technology. This artificial intelligence algorithm enhances the accuracy of heart rhythm event data from the Medtronic LINQ II™ insertable cardiac monitor (ICM), enabling physicians to provide improved care for individuals with abnormal heart rhythms.
Segmentation: Artificial Intelligence In Cardiology Market Report 2023 - 2034
Artificial Intelligence In Cardiology Market Analysis & Forecast by Component 2023 - 2034 (Revenue USD Bn)
- Software Solutions
- Hardware
- Services
Artificial Intelligence In Cardiology Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Bn)
- Stroke
- Cardiac Arrhythmias
- Ischemic Heart Disease /CAD
- Others
Artificial Intelligence In Cardiology Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Artificial Intelligence In Cardiology Market: Component Estimates & Trend Analysis
8. Artificial Intelligence In Cardiology Market: Application Estimates & Trend Analysis
9. Regional Market Analysis
10. North America Artificial Intelligence In Cardiology Market
11. Europe Global Artificial Intelligence In Cardiology Market
12. Asia Pacific Global Artificial Intelligence In Cardiology Market
13. Latin America Global Artificial Intelligence In Cardiology Market
14. MEA Global Artificial Intelligence In Cardiology Market
15. Competitor Analysis
16. Company Profiles
Companies Mentioned
- Cleerly Inc.
- RSIP Vision
- Vista AI
- Arterys Inc.
- Viz ai
- Cardiologs
- IDOVEN
- Ultrasight
- CardiAI
- Ultromics Limited.
- DiA Imaging Analysis
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | January 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 1 Billion |
| Forecasted Market Value ( USD | $ 25.23 Billion |
| Compound Annual Growth Rate | 34.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
