AI in Cardiology Market

AI in Cardiology Market Synopsis

AI in Cardiology Market Size Was Valued at USD 1.3 Billion in 2023, and is Projected to Reach USD 14.3 Billion by 2032, Growing at a CAGR of 32.8% From 2024-2032.

Growth of AI in cardiology market is primarily driven by the increasing prevalence of cardiovascular diseases (CVDs), advantages offered by machine learning algorithms over traditional diagnostic and predictive tools and growing adoption of AI driven diagnostic and predictive tools. Some of the AI applications relevant to the study and practice of cardiology are the early diagnosis of heart-related ailments, computerized image reviews for echocardiograms and MRI, and continuous monitoring of patients (through wearables). AI integration improves precision, accelerates diagnosis, and lightens the burden on healthcare workers. Some of the major market players are tech companies, medical device manufacturers, and healthcare providers working together to create AI-powered solutions. Moreover, market growth is enhanced by regulatory support and growing investments in digital healthcare.

AI in Cardiology Market Driver Analysis

Growing Adoption of Remote Monitoring & Wearable Devices

AI-based wearables are used to monitor the heart in real time and detect early diseases by monitoring the vital signs of an individual like heart rate, blood pressure, oxygen levels, and electrocardiogram (ECG) patterns. These smart devices (such as smart-watches, activity or fitness tracker, and chest patches) and it detects abnormalities in the physiological data and alerts the user through a machine-learning-based description of the algorithm for conditions including atrial fibrillation, arrhythmias, and hypertension. Using machine learning to identify deviations, these wearables provide real-time alerts to users or healthcare providers for early intervention. Also, insights from wearables using AI drive personalized treatment plans and enhance the patients’ adherence towards lifestyle changes.

AI in Cardiology Market Restraint Analysis

Limited Availability of Quality Healthcare Data

A vast area of cardiology focuses on innovating AI models for diagnosing as well as predicting cardiovascular diseases. But gathering and standardizing these datasets is hard work. Medical data, fragmented across healthcare systems, stored in disparate formats, and governed by robust confidentiality laws like HIPAA and GDPR, is notoriously difficult to share. Machine learning could also reflect bias and inconsistencies in datasets, as different patient demographics, imaging techniques, and diagnostic methods must be taken into consideration during the construction of AI models. To establish a standardize data set, hospitals, research institutions, and technology providers must work together to create disparate interoperable frameworks, along with ensuring ethical, high quality AI training.

AI in Cardiology Market Opportunity Analysis

Development of Explainable AI (XAI) in Healthcare

Improving transparency and interpretability of AI is important to build trust among healthcare professionals in the specialty of cardiology and encourage adoption. Many AI models, especially deep learning algorithms, operate as “black boxes,” which means it’s rare for doctors to know how they reach particular diagnoses or predictions. Such lack of explainability poses issues of reliability, potential biases and legal accountability for medical decisions. XAI such as visual heat maps for AI-based medical imaging or feature attribution techniques in predictive models can assist clinicians in interpreting AI outputs and validating recommendations. Also, regulators are receiving increasing pressure to make transparent AI models that explain clearly predictions made. Greater interpretability further allows for collaborative decisions between AI that assists, not replaces, physicians ultimately leading to more trust in AI-assisted cardiology solutions.

AI in Cardiology Market Trend Analysis

Growth in AI-Driven Drug Discovery for Cardiology

AI is transforming drug discovery and treatment development for cardiovascular disease in a way that cut years if not decades of life from traditional research approaches. AI-augmented platforms scour mammoth datasets of biological and clinical information to quickly discover new drug candidates, enhance molecular structures and forecast how patients will respond to certain therapies compared to traditional methods. Trained on data until October 2023, machine learning models help researchers identify hidden patterns that enable personalized treatments designed for individual patients’ profiles. Besides, AI powered simulations and predictive analytics streamline clinical trial design, optimizing patient selection, minimizing trial failures, and enhancing drug safety evaluation.

AI in Cardiology Market Segment Analysis

The AI in Cardiology Market is segmented on the basis of Component and application.

By Component

o   Services

o   Software

o   Hardware

By Application

o   Cardiac Arrhythmias

o   Stroke

o   Ischemic heart disease/CAD

o   Other Applications

By Region

o   North America (U.S., Canada, Mexico)

o   Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)

o   Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)

o   Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC)

o   Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)

o   South America (Brazil, Argentina, Rest of SA)

By Component, Software Segment is Expected to Dominate the Market During the Forecast Period

Tthe component discussed in this research study, the software is projected to be the major segment of AI in cardiology market during forecast period mainly due to growing preference for AI-powered diagnostic and predictive analytics solutions. AI plays its role in medical imaging, integrating with electronic health records (EHRs) and wearables to provide better accuracy and efficiency in detecting and managing cardiovascular diseases. Real-time analysis of echocardiograms, MRIs and ECGs powered by advanced machine learning algorithms is assisting healthcare executives make faster and more accurate decisions. At the same time, the emergence of cloud-based artificial intelligence platforms enables easy data sharing and off-site monitoring, increasing the demand for the software.

By Application, the Ischemic Heart Disease/CAD Segment is Expected to Held the Largest Share

In terms of application, the Ischemic heart disease/CAD segment is poised to witness biggest revenue in AI in cardiology market owing to the strong presence of CAD worldwide and the pressing need for early detection and management. AI also can be used to make a diagnosis and help treat CAD by finding vast datasets from ECG and medical imaging and patient health records to detect abnormalities in large volumes of signals with high precision. For example, the volume of machine learning models is used to detect early signs of arterial blockages, predict the risk of a heart attack, and provide personalized treatment recommendations improve patient outcomes. Moreover, predictive analytics powered by AI help healthcare professionals in evaluating risk factors like cholesterol, blood pressure, and lifestyle, which aids in early intervention.

AI in Cardiology Market Regional Insights

North America is Expected to Dominate the Market Over the Forecast period 

AI in cardiology market in North America is anticipated to dominate the global market throughout the forecast period on account of its well-established healthcare infrastructure, robust AI research ecosystem, and early adoption of digital health technologies. Especially in the United States and Canada, the region gained a pre-existing network of hospitals, research institutions, and AI-based healthcare start-ups that are increasingly adopting AI to enhance cardiology, enabling early disease detection, orientation of risk and treatment through automatic targeting. Moreover, growing supportive regulatory policies, increasing government funding, and heightened investment from private players are further propelling the pace of AI adoption in cardiovascular care. The market growth is further augmented by the presence of large technology companies and medical device manufacturers & collaboration agreement between healthcare providers and AI developers.

Recent Development

In April 2024, Viz.ai collaborated with iCardio.ai to improve aortic stenosis detection by integrating artificial intelligence with ultrasound imaging.

In January 2024, Cleerly introduced Cleerly ISCHEMIA, a U.S. FDA-cleared medical device under the 510(k) category. Utilizing AI technology, Cleerly ISCHEMIA evaluates the potential presence or absence of coronary vessel ischemia by analyzing quantitative data on stenosis, atherosclerosis, and vascular morphology from patients' CCTA images.

Active Key Players in the AI in Cardiology Market

o   CardiAI

o   IDOVEN

o   Ultromics Limited

o   Cardiologs (Koninklijke Philips N.V.)

o   Arterys Inc. (Tempus)

o   Ultrasight

o   Vista AI

o   DiA Imaging Analysis (Koninklijke Philips N.V.)

o   Cleerly, Inc.

o   Viz ai

o   RSIP Vision

o   Other Key Players

Global AI in Cardiology Market Scope