Cardiovascular Digital Solutions Market Expected to Reach $154.1 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Cardiovascular Digital Solutions Market," The cardiovascular digital solutions market size 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. The cardiology digital solutions market refers to the sector within the healthcare industry that focuses on the development, implementation, and utilization of digital technologies and software solutions to improve the diagnosis, treatment, monitoring, and management of cardiovascular diseases. Cardiology digital solutions encompass a wide range of technologies, including electronic health records (EHRs), telemedicine platforms, wearable devices, mobile applications, remote patient monitoring systems, data analytics tools, and artificial intelligence (AI) algorithms. These solutions are designed to enhance the efficiency and accuracy of cardiology procedures, facilitate remote patient care, enable real-time monitoring of cardiac conditions, and support personalized treatment plans.

Cardiovascular digital solutions market trends include, surge in prevalence of cardiac disorders such as heart attack, hypertension, and cardiac arrythmia, and rise in adoption of digital healthcare technology such as wearable monitoring devices and technological advancement in remote patient monitoring. The surge in the prevalence of cardiac disorders has become a major driver for the cardiovascular digital solutions market. For instance, according to the American Heart Association, in 2020, coronary heart disease (CHD) was the leading cause (41.2%) of deaths attributable to cardiovascular diseases in the U.S., followed by stroke (17.3%), other CVD (16.8%), high blood pressure (12.9%), heart failure (9.2%), diseases of the arteries (2.6%). Cardiovascular digital solutions encompass a wide range of technologies and services that leverage digital platforms, data analytics, and connectivity to assist in the prevention, diagnosis, and management of cardiovascular conditions. Cardiovascular digital solutions offer several advantages, such as remote monitoring of vital signs, real-time access to patient data, early detection of abnormalities, personalized treatment plans, and patient engagement tools. As the number of individuals affected by cardiovascular diseases continues to grow, there is an increasing need for innovative solutions to improve patient outcomes and enhance healthcare delivery.

Furthermore, the rise in adoption of digital healthcare technologies is one of the major key factors contributing to the growth of the cardiology digital solutions market. Patients can now remotely track their heart rate, blood pressure, and other relevant parameters using mobile apps or wearable devices. For instance, as of 2022, there were 100 million apple watch users globally. Apple watch is also used for cardiac monitoring as it can measure real time heart rate. Furthermore, apple watch also detects and notifies for irregular heart rate. The irregular rhythm notification feature on apple watch will occasionally look at user’s heartbeat to check for an irregular rhythm that might be suggestive of atrial fibrillation (AFib). Thus, the high adoption of digital healthcare technology for cardiac monitoring is expected to drive the growth of the market.

In addition, the technological advancement in remote patient monitoring techniques is anticipated to contribute to the growth of the cardiology digital solutions market. Remote patient monitoring (RPM) is rapidly evolving in the field of cardiology that has the potential to improve cardiovascular patient outcomes. RPM allows patients and their caregivers to independently and seamlessly capture and share their health data. For instance, the ePatch by Philips (health technology company) is an extended wear holter monitor designed for remote cardiac monitoring. It continuously records and stores heartbeats, which are then analyzed by certified cardiac technicians. The ePatch enables remote cardiac monitoring, providing convenience for patients and healthcare professionals. Thus, the technological advancement in remote patient monitoring techniques is expected to drive the growth of the market.

However, high implementation costs of cardiac devices might act as a restraint for the growth of the cardiovascular digital solutions market size. On the other hand, integration of artificial intelligence in cardiac monitoring devices, and presence of cardiovascular digital solutions industry is expected to serve as a growth opportunity in the cardiology digital solutions market.

On the basis of service, the cardiovascular digital solutions market share is classified into unobtrusive monitoring, CVD health informatics, and cardiac rehabilitation programs. The unobtrusive monitoring segment was the largest revenue contributor to the market in 2022, owing to high adoption of unobtrusive monitoring devices such as wearable fitness trackers and cardiac monitoring patch.

On the basis of component, the market is classified into devices and software. The software segment was the highest revenue contributor to the market in 2022 and is the fastest growing segment during the forecast period, due to the high use of artificial intelligence integrated software for diagnosis in hospitals.

On the basis of end user, the market is categorized into healthcare organization, healthcare consumer, and others. The others include govt institute, payer. The healthcare consumer segment was the largest revenue contributor to the market in 2022, owing to high usage of cardiology devices for diagnosis of large patient’s base.

On the basis of region, North America has the highest cardiovascular digital solutions market share in 2022, and is expected to maintain its lead during the forecast period, owing to rise in prevalence of cardiovascular disorders and strong presence of cardiovascular digital solutions industry in this region. However, Asia-Pacific is expected to exhibit the fastest growth during the cardiovascular digital solutions market forecast period, owing to the rise in geriatric population and government initiative towards healthcare facilities.

Key Findings of The Study

• 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.