Cardiac AI Monitoring and Diagnostics Market Size 2024-2030: HeartVista, Inc., Siemens Healthineers AG, RSIP Vision, Ultromics Limited., Tempus Labs

According to MarkNtel Advisors study the Global Cardiac AI Monitoring and Diagnostics Market size is estimated to grow at a CAGR of around 25.6% during the forecast period, i.e., 2024–30.

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Key Findings of the Study: Cardiac AI Monitoring and Diagnostics market

Global Cardiac AI Monitoring and Diagnostics Market Driver:

Rising Incidence of Coronary Artery Diseases – With the rising incidence of coronary artery diseases worldwide, especially across Asia-Pacific, and Europe, owing to the rising adoption of unhealthy and sedentary lifestyles among consumers, demand for monitoring and diagnosis services has been increasing significantly across the globe. Additionally, other health factors, including physical inactivity, being overweight, unhealthy eating, and smoking tobacco, have been causing the deposition of plaque and cholesterol in blood vessels, causing cardiovascular diseases (CVD). For instance,

• According to the British Heart Foundation, in 2022, globally, 1 in every 14 people was living with coronary heart disease, either linked to the heart or circulatory vessels.

Consequently, as the number of patients suffering from CVD has been increasing, healthcare professionals have started inclining toward AI software and services over the years. The inclination toward AI software in cardiovascular diagnosis and monitoring has been attributed to the ease of processing large amounts of data generated from these diagnostic devices within a minimum amount of time. Henceforth, with the rising number of heart diseases, coupled with growing health facilities adopting AI software in the cardiology segment across regions like North America, Asia Pacific, etc., the market would witness considerable growth & expansion during the forecast period.

Global Cardiac AI Monitoring and Diagnostics Market Challenge:

Issues Related to the Data Breaches of AI Models to Hamper Market Growth – Due to issues related to the reliability of AI models, healthcare professionals across the globe are hesitant about the adoption of AI algorithms. The major concern linked to AI adoption included increasing data breach cases across the healthcare sector globally. As the data included in AI-healthcare models includes highly sensitive Personally Identifiable Information (PII) of consumers, their breaches have resulted in the leak of medical history, payment-related information, and identity information of all the patients. For instance,

• In 2022, according to the Health Sector Cybersecurity Coordination Center, the number of ransomware attacks across healthcare health promotion hospitals in the US increased from 560 in 2020 to 1203 in 2021 across the US.

These attacks have been increasing significantly over the past few years, and the ransom demand has also been growing in parallel. Therefore, the increasing data breach efforts have led to preventing healthcare professionals from adopting AI software in healthcare settings, which is projected to continue as a challenge for the industry in the coming years as well.

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Scope of the Report and Cardiac AI Monitoring and Diagnostics Market Segmentation:

By Product

• Software- Market Size & Forecast 2019-2030, USD Million
• Hardware- Market Size & Forecast 2019-2030, USD Million

By Type

• Cardiac Diagnostics- Market Size & Forecast 2019-2030, USD Million
  • Cardiac Imaging- Market Size & Forecast 2019-2030, USD Million
  • Electrocardiography-Based (ECG-Based) Diagnostics- Market Size & Forecast 2019-2030, USD Million
  • Others (Blood Biomarker Analysis, Cardiac Stress Testing, etc.) - Market Size & Forecast 2019-2030, USD Million
• Cardiac Monitoring- Market Size & Forecast 2019-2030, USD Million

Cardiac diagnostics has been dominating the Global Cardiac AI Monitoring and Diagnostics Market over the past few years.

By Indication

• Hypertension (High Blood Pressure)- Market Size & Forecast 2019-2030, USD Million
• Coronary Artery Disease (CAD)- Market Size & Forecast 2019-2030, USD Million
• Arrhythmias- Market Size & Forecast 2019-2030, USD Million
• Cardiomyopathies- Market Size & Forecast 2019-2030, USD Million
• Others (Valvular Heart Disease, Peripheral Artery Disease (PAD), etc.) - Market Size & Forecast 2019-2030, USD Million

By End-User

• Hospitals - Market Size & Forecast 2019-2030, USD Million
• Diagnostic Centers- Market Size & Forecast 2019-2030, USD Million
• Specialty Cardiology Clinics- Market Size & Forecast 2019-2030, USD Million
• Ambulatory Surgical Centers- Market Size & Forecast 2019-2030, USD Million

Cardiac AI Monitoring and Diagnostics Market Competitive Landscape

• HeartVista, Inc.
• Siemens Healthineers AG
• RSIP Vision
• Ultromics Limited.
• Tempus Labs, Inc.
• Cardiologs Technologies
• Cleerly, Inc.
• AliveCor, Inc.
• Aidoc Medical Ltd.
• Boston Scientific Corporation
• CathWork Inc.
• HeartFlow, Inc.
• iRhythm Technologies, Inc.
• Nano-x Imaging Ltd.

Cardiac AI Monitoring and Diagnostics Market Development:

• 2023: Ultromics Limited, introduced EchoGo® Heart Failure, an AI solution for echocardiography, which has achieved clearance from the US Food and Drug Administration (FDA). EchoGo® Heart Failure is an AI-powered platform designed for precise identification of heart failure with preserved ejection fraction (HFpEF).
• 2022: iRhythm Technologies, Inc., received FDA 510(k) clearance for its ZEUS (Zio ECG Utilization Software) System designed for the Zio Watch. Developed in partnership with Verily, an Alphabet precision health company, the ZEUS System combines advanced deep learning algorithms with a trusted cardiac arrhythmia service.

Geographical Analysis:

By Region

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

Among all of them, North America acquired the largest market share in the Global Cardiac AI Monitoring and Diagnostics Market.

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