The market will grow as a result of factors such as the rising prevalence of cardiovascular disease (CVD), improvements in artificial intelligence and machine learning, wearable device adoption, telemedicine and remote patient monitoring, government initiatives and funding, and an increasing emphasis on preventive healthcare.

The capabilities of cardiac monitoring and diagnostic systems have been greatly improved by the quick developments in artificial intelligence and machine learning technology. Large-scale cardiac data can be analyzed by AI algorithms with great accuracy and efficiency, allowing for customized treatment regimens, early abnormality diagnosis, and predictive analytics for improved patient outcomes. For instance, HeartFlow said in December 2023 that a study showcasing the clinical usefulness of its non-invasive coronary artery disease (CAD) assessment technology has been published. The study emphasizes how well HeartFlow's AI-based strategy guides CAD patients' treatment selections.

North American region is anticipated to have the highest revenue share during the forecast period owing to the high prevalence of cardiovascular diseases, strong healthcare infrastructure, and extensive adoption of advanced cardiac monitoring and diagnostic technologies. Additionally, the Asia Pacific region is estimated to grow at the fastest CAGR during the forecast period owing to the increasing awareness about cardiac health, rising healthcare expenditure, and rapid adoption of advanced medical technologies in emerging economies within the region.

By product, the software segment accounted for the highest revenue-grossing segment in the global cardiac AI monitoring and diagnostics market in 2023 and is predicted to grow at the fastest CAGR during the forecast period owing to the increasing demand for AI-powered analytics, integration with existing healthcare systems, and the shift towards preventive healthcare strategies. For instance, Biofourmis announced in February 2024 that it was acquiring PhysioWave, a digital therapeutics business that specialized in heart care. The portfolio of Biofourmis in cardiac health management is strengthened by this acquisition.

By type, the cardiac diagnostics segment accounted for the highest revenue-grossing segment in the global cardiac AI monitoring and diagnostics market in 2023 owing to the growing prevalence of cardiovascular diseases, advancements in diagnostic technologies, and rising adoption of AI-powered cardiac imaging and testing solutions. For instance, Cardiologs announced in November 2023 that it has received FDA authorization to expand the usage of its cloud-based cardiac monitoring software to pediatrics.

The use of Cardiologs' AI technology in pediatric cardiology has expanded with this extension. Additionally, the cardiac monitoring segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing demand for continuous remote monitoring, proliferation of wearable devices, and integration of AI algorithms for real-time analysis of cardiac data.

By application, the ischemic heart disease segment accounted for the highest revenue-grossing segment in the global cardiac AI monitoring and diagnostics market in 2023 owing to the growing prevalence of ischemic heart disease, advancements in diagnostic imaging technologies, and increasing adoption of AI-powered solutions for early detection and management.

For instance, Caption Health's AI-guided ultrasound software was approved by the FDA in January 2024, allowing physicians to perform echocardiograms without the need for specific training. This approval is a major step in increasing the availability of cardiac diagnostics. Additionally, the cardiac arrhythmias segment is predicted to grow at the fastest CAGR during the forecast period owing to the expansion of remote monitoring capabilities, rising incidence of arrhythmias, and integration of AI algorithms for accurate detection and personalized treatment recommendations.

By end-user, the hospitals segment accounted for the highest revenue-grossing segment in the global cardiac AI monitoring and diagnostics market in 2023 owing to the increased adoption of advanced cardiac monitoring technologies, higher patient footfall, and the need for real-time diagnostic capabilities in hospital settings. For instance, iRhythm Technologies and Verily, Alphabet's biological sciences division, announced a collaboration in March 2024 to create AI-driven solutions for remote heart monitoring.

The partnership seeks to improve arrhythmia detection efficiency and accuracy. Additionally, the diagnostic centers segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising demand for specialized cardiac diagnostic services, expanding healthcare infrastructure, and increasing focus on early detection and management of cardiovascular diseases.