Cardiac Imaging Software Market Size, Share And Forecast To 2031

(MENAFN- Straits Research) Cardiac imaging software is a type of software that is used to process and interpret heart-related medical pictures. These software solutions are compatible with imaging modalities such as echocardiography, CT (computed tomography), MRI (magnetic resonance imaging), and nuclear cardiology.
The global market for cardiac imaging software is expected to grow at a CAGR of 9.2% due to technological advancements, rising prevalence of cardiovascular diseases, and increased demand for early and precise diagnosis. The key market factors promoting market growth include rising underlying causes of cardiovascular diseases, an aging population, and rising prevalence and healthcare spending for cardiovascular diseases.
Market Dynamics
Rising Cardiac Diseases Drive Market Growth
Cardiovascular diseases include coronary artery disease, heart failure, arrhythmias, and valve disorders. Sedentary lifestyles, poor diets, smoking, obesity, and aging promote these diseases. According to the WHO, two thousand nineteen cardiovascular diseases killed 17.9 million people worldwide. Globally, 31% of deaths are from CVDs. The American Heart Association (AHA) reports US cardiovascular disease prevalence: About 48% of US adults suffer from cardiovascular disease. Approximately 18.2 million people have coronary heart disease. Adults with heart failure will rise from 6.2 million in 2014 to 8 million by 2030. The cardiac imaging software market data show that more unhealthy habits cause heart issues. Hence, the sector is growing rapidly.
Technological Innovations and AI Integration Create Tremendous Opportunities
AI and ML algorithms in cardiac imaging software improve image analysis, accuracy, and early disease detection. The cardiac imaging software market's transition toward AI will open new doors. The journal "Circulation" reported that an AI algorithm could diagnose left ventricular failure from echocardiographic images with 91.7% sensitivity and 83.2% specificity. The ability of AI to detect early can improve patient outcomes and reduce disease development. AI can predict sickness onset and outcomes using patient data. A study in "The Lancet Digital Health" found that AI can predict cardiovascular events using electronic health data.
Regional Insights
North America dominated the global market due to high cardiovascular disease rates, technical advances, high disposable income, an aging population, and supporting regulations. The rise in cardiac diseases is linked to North America's dominance. The expansion is linked to well-established healthcare institutions with modern diagnostic equipment and favorable government policies to encourage healthcare IT in this region. R&D investments and strong competitors also drive regional market growth.
Additionally, market growth is driven by cardiovascular disease prevalence. CDC: Coronary disease was the most frequent heart disease in the US in 2019, killing 360,900 persons. The American College of Cardiology (ACCF) estimates that 80 million people have cardiovascular disease or are at risk. The leading cause of death in the US is cardiovascular disease. Cardiovascular disease affects 121.5 million Americans, or 48%. Thus, a high prevalence rate and improved awareness of viable remedies will enhance cardiac imaging software demand during the projection period.
Europe has the second-largest cardiac imaging software market share. Europe is predicted to rise due to cutting-edge treatment facilities, government backing for the healthcare industry, an aging population, and an increase in cardiovascular disease. German cardiac imaging software had the largest market share, while UK software was the fastest-growing in Europe. The European Society of Cardiology says cardiovascular diseases kill almost 4 million Europeans annually. With excellent medical infrastructure, Germany, the UK, France, and Italy demand cutting-edge cardiac imaging technologies. The EU's concentration on research and innovation allows for AI-driven heart imaging software, telemedicine apps, and academic collaboration.
The Asia-Pacific cardiac imaging software market is expected to grow at the fastest CAGR during the projected period. This has something to do with cardiovascular disease and rising healthcare costs. Furthermore, China has the largest market share for cardiac imaging software. In contrast, the Indian market for cardiac imaging software was the Asia-Pacific region's fastest growing. In 2019, India had 139 million people over 65, according to Aging Asia. According to Institut Montaigne, India will have 43,486 private hospitals, 1.18 million beds, 59,264 ICUs, and 29,631 ventilators by November 3, 2020. In contrast, there are 25,778 public hospitals, 713,986 beds, 35,700 intensive care units, and 17,850 ventilators. Collaborations between multinational technology companies and local healthcare institutes aim to develop AI-powered cardiac imaging software tailored to the specific needs of the Asia-Pacific area.
Key Highlights

The global Cardiac imaging software market size was valued at
USD 532 million in 2022
and is projected to reach
USD 1006 million by 2031, registering a
CAGR of 8.3%
during the forecast period 2023-2031.
The subtypes are CT, MRI, ultrasound, X-ray, mixed modalities, SPECT, OVUS, and OCT. CT controls the majority of the market.
The segment can be divided into Diagnostic Imaging and Image-Guided Treatment. The most prevalent application is diagnostic imaging.
End-user Hospitals, clinics, and diagnostic centers make up the market. Hospitals and clinics generate the highest revenue in the industry.
Depending on the region, the market is analyzed in North America, Asia-Pacific, Europe, and LAMEA. North America dominates the market.

Competitive Landscape
The key players in the global Cardiac imaging software market are FUJIFILM Corporation (Japan), Koninklijke Philips N.V. (Netherlands), Siemens (Germany), GE Healthcare (US), Canon Inc. (U.S.), NeoSoft LLC (Pewaukee WI), Arteys (the US), Pie Medical Imaging (Netherlands), Medis Medical Imaging (Netherlands), Circle Cardiovascular Imaging Inc (Canada), Symphony Innovation LLC (US).
Market News

In June 2023, Fujifilm will expand its commercial presence in Asia for biologics and advanced therapies contract services.
In August 2023, At ESC 2023, Philips integrated AI in cardiac ultrasound and across cardiac care.
In August 2023, Vscan Air SL, a Wireless Handheld Ultrasound Device for Rapid Assessments of Cardiac and Vascular Patients, was introduced by GE HealthCare.

Global Cardiac Imaging Software Market: Segmentation
By Type

Computed Tomography
Magnetic Resonance
Ultrasound Imaging
X-Ray Imaging
Combined Modalities
SPECT
OVUS
OCT

By Application

Diagnostic Imaging
Image Guided Treatment

By End-User

Hospitals and Clinics
Diagnostics Centers

By Region

North America
Asia-Pacific
Europe
The Middle East and Africa
Latin America

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