New York, June 01, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Cardiovascular Digital Solutions Global Market Report 2023" - https://www.reportlinker.com/p06464019/?utm_source=GNW
, Bardy Diagnostics Inc., BioTelemetry Inc., eviCore healthcare, Nanowear Inc., Cardiac Insight Inc., Bay Labs Solutions, Change Healthcare, and Medtronic PLC.
The global cardiovascular digital solutions market is expected to grow from $82.53 billion in 2022 to $90.84 billion in 2023 at a compound annual growth rate (CAGR) of 10.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The cardiovascular digital solutions market is expected to reach $128.44 billion in 2027 at a CAGR of 9%.
The cardiovascular digital solutions market includes revenues earned by entities by providing services like sensors and digital technologies, such as decision-making aids, motivating and instructive smartphone platforms, tele monitoring, and tele rehabilitation, remote patient monitoring.The market value includes the value of related goods sold by the service provider or included within the service offering.
The cardiovascular digital solutions market also includes sale of cardiac monitoring patches, heart pumps, artificial valves, artificial implants.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Cardiovascular digital solutions refers to the utilization of technological solutions with personalised approaches to cardiovascular diagnosis and treatment by using wearables, smartphones, software, sensors, artificial intelligence. These are used to promote adherence to lifestyle changes and increase patient autonomy by enabling patients to self-monitor health interventions.
North America was the largest region in the cardiovascular digital solutions market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in cardiovascular digital solutions report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main services of cardiovascular digital solutions are unobtrusive testing, CVD health informatics, cardiac rehab programs, and others.Unobtrusive testing refers to measurements that are determined by physical footprints or other data that are gathered without the consent or involvement of the people or groups that created the data.
The main components are devices and software, which can be deployed cloud-based or on-premise. It includes several end-users such as hospitals and clinics, ambulatory care centers, and others.
The rise in cardiovascular disease prevalence worldwide is expected to propel the growth of the cardiovascular digital solutions market going forward.Heart and blood vessel problems are referred to as cardiovascular diseases (CVDs).
It is a common phrase for diseases that damage the heart or blood vessels.Cardiovascular digital solutions aid in promoting patient autonomy by allowing patients to self-monitor health activities that decrease disease risk factors while encouraging adherence to these lifestyle changes.
The use of these solutions decreased the morbidity and mortality of cardiovascular diseases.So, the surge in cases of cardiovascular diseases boosts the market for cardiovascular digital solutions.
For instance, in January 2023, according to a report shared by the American Heart Association, a US-based non-profit organization, 928,741 people died in the United States in 2020 due to cardiovascular disease (CVD), which was reported as the primary cause of death. A heart stroke was the cause of about 1 in every 21 fatalities in the US in 2020. In the United States, a stroke fatality occurred every 3 minutes and 17 seconds on average in 2020. Therefore, the rise in cardiovascular disease prevalence worldwide is driving the cardiovascular digital solutions market.
Product innovation is the key trend gaining popularity in the cardiovascular digital solutions market.Major companies operating in the cardiovascular digital solutions market are focused on developing innovative products to strengthen their position in the market.
For instance, in February 2023, Eko Health, a US-based manufacturer of digital health solutions for heart and lung disease, launched the SENSORA Cardiac Disease Detection Platform.SENSORA is a cardiovascular disease detection platform that blends the most recent advances in applied machine learning with one of the world’s most used medical devices: the stethoscope.
Eko has invented a detection platform that might grow as the business creates applications for other cardiac disorders by using its digital stethoscopes to record and analyze electrical signals and heart sounds. SENSORA primarily incorporates AI that reliably recognizes structural murmurs, which indicate heart valve disease, and Care Pathway Analytics software that offers downstream insight and analytics of the care process through the healthcare system.
In December 2021, Baxter International Inc., a US-based healthcare firm that specializes in treating both acute and chronic medical issues, including heart disease, acquired Hill-Rom Holdings Inc. for approximately $12.5 billion. Through this acquisition, Baxter International Inc. intends to leverage its substantial global footprint, including its commercial and service infrastructure, to expand historic Hill-Rom Holdings Inc. and Welch Allyn products into new international markets, bringing the combined portfolio of goods and services to even more patients and healthcare professionals across the world. Hill-Rom Holdings Inc. is a US-based company that offers diagnostic cardiology digital solutions.
The countries covered in the cardiovascular digital solutions market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The cardiovascular digital solutions market research report is one of a series of new reports that provides cardiovascular digital solutions market statistics, including cardiovascular digital solutions industry global market size, regional shares, competitors with a cardiovascular digital solutions market share, detailed cardiovascular digital solutions market segments, market trends and opportunities, and any further data you may need to thrive in the cardiovascular digital solutions industry. This cardiovascular digital solutions market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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