AI in Cardiology Market To Hit USD 40.5 Billion in 2033

Trishita Deb
Trishita Deb

Updated · Apr 1, 2024

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The global AI in Cardiology Market was valued at USD 1.5 billion in 2023 and is projected to reach USD 40.5 billion by 2033, showing a remarkable trajectory of growth at a CAGR of 39.4%. This significant expansion is driven by technological advancements in AI and the increasing incidence of cardiovascular diseases, which highlights the urgent need for innovative diagnostic and treatment solutions.

Recent developments in the field have demonstrated AI’s potential to revolutionize cardiology. For instance, AI applications in cardiac diagnostics, such as automated medical image classification, have shown great accuracy in identifying arrhythmias, rivaling even human experts. The FDA has already approved several AI/ML-based technologies for cardiovascular disease assessment, such as the AI ECG Tracker by Shenzen Carewell Electronics and the ECG 2.0 App by Apple Inc., among others. These approvals mark an important milestone in AI’s integration into cardiovascular care, promising quicker and more precise patient care through technologies that enhance, rather than replace, human practitioners.

The market’s growth is further fueled by the rising prevalence of cardiovascular diseases. An estimated 1.28 billion adults worldwide suffer from hypertension, a major risk factor for heart diseases, with a majority residing in low- and middle-income countries. The escalating demand for advanced technologies to support diagnosis, treatment, and overall patient care in the face of increasing heart-related problems highlights AI’s pivotal role in managing cardiovascular health.

Cardiovascular Associates of America (CVAUSA), a Florida-based group managed by Webster Equity Partners, recently expanded its network through the acquisition of Shore Heart Group (SHG), a New Jersey practice with seven locations and a team of 23 cardiologists. This move not only augments CVAUSA’s presence in New Jersey to over 80 locations but also strengthens its cardiology service offerings across various subspecialties. This acquisition is part of CVAUSA’s ongoing strategy to enhance cardiac care through strategic partnerships and expansions.

Key Takeaways

  • The AI In Cardiology Market was valued at USD 1.5 Billion in 2023 and is projected to reach an impressive USD 40.5 Billion by 2033, exhibiting a remarkable CAGR of 39.4% during the forecast period.
  • Software components dominated the market, with a substantial share of 61.3% in 2023, and are expected to maintain their dominance with a promising CAGR of 36.4%.
  • Coronary artery disease holds a significant portion of the market with a revenue share of 54.6% in 2023, indicating a high demand for AI solutions in this application.
  • North America leads the market with an impressive 60.1% market share in 2023, followed by Asia-Pacific, which is anticipated to witness the fastest growth due to improved healthcare infrastructure and rising incidences of cardiovascular conditions.
  • Approximately 86.4% of people globally suffer from heart attacks and strokes, resulting in an average of USD 17.9 million deaths annually due to cardiovascular diseases.
  • The rising prevalence of cardiovascular illnesses, such as stroke and heart disease, is a key driver for the market growth, with coronary heart disease being the most common type leading to approximately 375,476 mortality rates worldwide.
  • Major market players such as Cleerly, Inc., DiA Imaging analysis, and Arterys Inc. are focusing on product strategies through acquisitions and mergers to introduce highly advanced AI technology in the cardiology market.

AI in Cardiology Statistics

  • An AI algorithm was tested on over 43,000 patients, reducing the time needed from an ECG test to getting treatment in the cath lab by almost 9 minutes, showing it can speed up heart attack care.
  • A smartphone app, HearO, using AI to monitor heart failure, was able to predict worsening conditions in 76% of patients about a month before they needed hospitalization.
  • Medtronic’s LINQ II ICM device, using AI, cut down the number of incorrect alerts for atrial fibrillation by over 91%, saving doctors around 400 hours a year.
  • Eko Health’s AI technology with a digital stethoscope identified valvular heart disease with 94.1% sensitivity and 84.5% specificity in a study involving 369 patients.
  • In a study with nearly 1,200 women in Nigeria, AI doubled the detection rate of cardiomyopathy during or after pregnancy compared to usual care methods.
  • The AI in Cardiology market is expected to grow beyond USD 40 billion by 2033, indicating significant market expansion.
  • AI showed higher accuracy than sonographers in evaluating 3,495 echocardiogram studies, with cardiologists needing to make fewer corrections to AI’s assessments.
  • Research at the American Heart Association’s sessions highlighted AI’s capability in predicting cardiovascular events and identifying heart valve disease more accurately than traditional methods.
  • AI’s analysis of digital stethoscope sound data was significantly more accurate in detecting heart valve disease compared to standard methods, finding 94.1% of cases.
  • An AI analysis of eye images effectively predicted cardiovascular disease risk in individuals with prediabetes and Type 2 diabetes.

Use Cases

The incorporation of Artificial Intelligence (AI) in cardiology is bringing a significant change in improving cardiovascular care. This shift is highlighted by numerous potential applications, each designed to solve specific challenges within this crucial field of medicine. Based on recent research and expert opinions, the impact of AI can be identified across various areas.

Diagnostic and Predictive Analytics

  • ECG Interpretation and Arrhythmia Detection: AI algorithms have significantly advanced the field of electrocardiography (ECG) by automating the interpretation process and identifying subtle anomalies that human experts might miss. For example, AI has demonstrated high accuracy in detecting arrhythmias, matching the diagnostic capability of cardiologists and facilitating early intervention for conditions such as atrial fibrillation and STEMI (ST-Elevation Myocardial Infarction).
  • Heart Failure Monitoring: Innovative AI models have been developed to predict the risk of heart failure readmissions by analyzing clinical and social factors, achieving high precision and recall. This enables targeted interventions to prevent avoidable hospitalizations, enhancing patient outcomes.
  • Voice Analysis for Heart Failure: AI-driven speech analysis software can monitor changes in a patient’s voice, serving as an early warning for worsening heart failure symptoms. This novel approach offers a non-invasive means to identify patients at risk of hospitalization, potentially improving outpatient care and reducing hospital readmissions.

Imaging and Analysis

  • Plaque Detection in Cardiac CT Imaging: Deep learning algorithms have shown remarkable accuracy in identifying calcified plaque accumulation in arteries from CT scans. This aids in the early diagnosis and treatment of conditions leading to heart attacks and stroke.
  • Automated Imaging Interpretation: AI has been instrumental in enhancing the interpretation of medical imaging, such as cardiac CT angiograms, by rapidly identifying high-risk plaques and quantifying disease progression, significantly outpacing manual review processes in terms of speed and accuracy.

Operational Efficiency and Patient Care

  • Reducing False Alerts from Cardiac Monitors: Advanced AI models have been applied to insertable cardiac monitors to minimize false alerts, saving healthcare professionals hundreds of hours annually and improving patient management.
  • Digital Stethoscopes for Valvular Heart Disease: AI-supported digital stethoscope technologies offer high sensitivity and specificity in detecting valvular heart disease, transforming the efficiency of primary care evaluations and potentially reducing the costs associated with late or undiagnosed conditions.

Recent Developments

  • Algorithm Development at Smidt Heart Institute, Cedars-Sinai: Researchers have engineered a groundbreaking algorithm capable of enhancing cardiovascular care, marking a significant step forward in the application of AI within the field..
  • AI’s Role in Global Medicine – UCSF Cardiology: The University of California, San Francisco (UCSF) emphasizes AI’s potential to democratize clinical expertise globally. By analyzing fetal echocardiograms, AI assists in improving prenatal diagnoses of congenital heart disease, showcasing its capability to extend specialized medical knowledge beyond traditional geographical limitations.
  • Predictive Analytics and Efficiency Improvements: Discussions within the cardiology community highlight AI’s potential to revolutionize healthcare delivery through predictive analytics and operational efficiencies. AI applications in cardiology are poised to not only reduce healthcare costs but also enhance the quality of care by facilitating early disease prediction and intervention, thereby minimizing hospital visits and admissions.
  • AI in Post-Pandemic Research and Healthcare Delivery: The COVID-19 pandemic has accelerated AI research, underscoring its importance in scientific data sharing and the rapid adaptation to new diseases. This has opened avenues for AI in predicting diseases and advancing precision medicine, thereby offering significant opportunities for early intervention and prevention.
  • The Human Element in AI-Driven Cardiology: Despite AI’s transformative potential, the consensus among cardiologists is clear: AI will augment rather than replace human expertise within cardiology. By automating routine tasks, AI allows healthcare professionals to focus more on patient care, leveraging technology to enhance, not replace, the human touch in medical practice.

Key Players Analysis

Cleerly, Inc

Cleerly, Inc., a pioneering force in the application of artificial intelligence (AI) within the cardiology sector, is reshaping how heart disease, specifically coronary artery disease (CAD), is diagnosed and managed. Leveraging AI-driven analyses of coronary computed tomography angiography (CCTA) images, Cleerly’s technology offers an advanced method for evaluating heart health, far surpassing traditional diagnostics in both precision and efficiency. Their platform not only identifies but quantitatively assesses atherosclerosis (plaque buildup) to inform tailored treatment plans, thus enhancing patient care outcomes significantly.

DiA Imaging Analysis

DiA Imaging Analysis has emerged as a prominent force in the AI-driven ultrasound analysis sector, particularly within cardiology. Their innovative software solutions harness advanced pattern recognition, deep learning, and machine learning algorithms, closely imitating the human eye’s ability to detect borders and motions in ultrasound images. This approach significantly enhances the accuracy and accessibility of ultrasound image analysis, making it a valuable tool for clinicians with varying levels of experience. DiA’s FDA-cleared software, such as LVivo IQS, provides real-time feedback on image quality, aiding healthcare professionals in capturing high-quality echocardiography images. This development marks a significant advancement in ensuring precise heart diagnoses and treatment, emphasizing the importance of high-quality cardiac ultrasound imaging across different care settings.

Philips’ recent acquisition of DiA Imaging Analysis underscores the growing importance of AI in enhancing echocardiography exams. By integrating DiA’s AI solutions, Philips aims to automate and expand access to echo ultrasound exams, leveraging its global sales force to accelerate the adoption of these advanced echo AI solutions. This move is part of Philips’ broader strategy to enhance its cardiology portfolio through strategic acquisitions, highlighting the potential of AI to revolutionize cardiac care by making ultrasound technology faster and easier to use.

Arterys Inc

Arterys Inc., now part of Tempus, is a pioneer in the medical imaging AI platform, making significant strides in integrating AI clinical applications into existing PACS or EHR driven workflows. This integration aims to improve the physician experience, diagnostic accuracy, and patient outcomes, ensuring that data-driven insights from medical images are seamlessly accessible and actionable. The acquisition by Tempus, a leader in advancing precision medicine through AI and data, marks a significant step forward in creating a comprehensive view of patient health, encompassing radiology scans.

Arterys introduced Cardio AIMR, a web-based image analysis solution that leverages deep learning and cloud supercomputing. This innovation automates the analysis of cardiac MR images, enhancing radiologist efficiency and accuracy. It represents a major advancement in data-driven medicine, enabling the quick detection, prediction, and tracking of heart problems.


CardiAI, founded by Dr. Anmol Kapoor in 2018, is a biotechnology company at the forefront of integrating artificial intelligence (AI) into cardiology to enhance patient care. The company’s ambition extends beyond running medical imaging clinics; it actively engages in clinical studies, develops medical devices, and pioneers research in mobile healthcare. CardiAI’s efforts are particularly notable in its utilization of machine learning for analyzing data from Holter monitors and cardiac imaging, aiming to detect signs of heart disease more accurately and earlier than traditional methods.

In collaboration with Carleton University, CardiAI is innovating in the field of diagnostics through the development of EG-FET biosensor technology. This partnership is set to revolutionize point-of-care diagnostics by improving the detection of critical biomarkers in saliva and whole blood, thereby making diagnostics more accessible and efficient, especially for remote areas with limited healthcare access.

Furthermore, CardiAI is pioneering the application of AI to Holter monitor data to identify arrhythmias and other potential problems, simplifying and speeding up the analysis process traditionally performed by cardiologists. This innovative approach could significantly enhance diagnostic accuracy and efficiency. The company is also developing a point-of-care blood testing kit, enabling patients to conduct tests at home for heart and kidney issues, further democratizing healthcare access.


While the AI in Cardiology market faces its set of challenges, its potential benefits in enhancing patient care, reducing diagnostic errors, and improving treatment outcomes are undeniable. With continued investment in AI research and development, coupled with addressing regulatory and ethical considerations, the field of cardiology stands on the brink of a new era of innovation and improved healthcare delivery.

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Trishita Deb

Trishita Deb

Trishita has more than 8+ years of experience in market research and consulting industry. She has worked in various domains including healthcare, consumer goods, and materials. Her expertise lies majorly in healthcare and has worked on more than 400 healthcare reports throughout her career.

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