Artificial Intelligence In Cardiology Market
Artificial Intelligence In Cardiology Market Forecasts to 2030 - Global Analysis By Component (Software, Hardware and Services), Application (Stroke, Cardiac Arrhythmias, Ischemic Heart Disease and Other Applications), End User and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $744.08 MN |
|
Projected Year Value (2030) |
US $746.61 MN |
|
CAGR (2023 - 2030) |
36.1% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Artificial Intelligence in Cardiology Market is accounted for $744.08 million in 2023 and is expected to reach $746.61 million by 2030 growing at a CAGR of 36.1% during the forecast period. Artificial Intelligence (AI) in cardiology refers to the application of machine learning algorithms and computational models to analyze medical data related to the heart. This technology has shown tremendous promise in transforming the way cardiac conditions are diagnosed, monitored, and treated. AI algorithms can assist in the interpretation of echocardiograms, providing automated measurements and identifying abnormalities. AI models can assess a patient's risk of developing cardiovascular diseases based on factors like age, medical history, and lifestyle. AI-powered systems can continuously monitor patients with heart conditions through wearable devices, providing real-time alerts to healthcare providers for any concerning changes.
According to a recent study published by the National Center for Biotechnology Information (NCBI) in 2022, an AI algorithm classified arrhythmia with 95.4% accuracy. Furthermore, AI classified the disease with a specificity of 94.52%, positive predictive value of 89.74%, negative predictive value of 98.55%, and 97.19% sensitivity. The researchers of the study concluded that AI’s use would reduce the overall false-positive results by 98.0%.
Market Dynamics:
Driver:
Rising cardiovascular disease rates
The prevalence of cardiovascular ailments is rising on a global scale. As a result, there is an increasing demand for cutting-edge tools like AI to aid in diagnosis and treatment. AI-powered diagnostic technologies can spot cardiac irregularities sooner, enabling prompt treatment and perhaps halting the disease's future progression. Cardiovascular disease patients may benefit from more precise diagnosis and treatment strategies made possible by AI. Increased regulatory attention to cardiology-related technologies and advances may result from the growing frequency of cardiovascular disorders. This may foster an environment that encourages the creation and use of AI solutions.
Restraint:
Complex regulatory approval and certification
Obtaining regulatory approval for AI-based medical devices or applications can be a lengthy and complex process. Companies must demonstrate the safety, efficacy, and clinical validity of their AI solutions to regulatory bodies. AI applications must adhere to ethical guidelines in medical practice. Further, ensuring that AI algorithms are fair and do not introduce biases based on race, gender, or other demographic factors acts as a significant regulatory concern.
Opportunity:
Increasing adoption of Electronic Health Records (EHRs)
A variety of organised and unstructured patient data, including as medical histories, diagnostic tests, treatment plans, prescriptions, and more, is available through electronic health records (EHRs). AI algorithms can analyse data from a far wider patient population using EHRs than they could manually. This makes it possible to get stronger and statistically significant insights into heart problems, which may result in more precise diagnosis and therapy suggestions. AI may also aid in reducing data input mistakes in EHRs and enhancing the precision and thoroughness of patient records. Therefore, the integration of AI with EHRs in cardiology fuels the growth of the market.
Threat:
Limited generalization
If the AI system is not able to generalize effectively, it may fail to identify important cardiac conditions or may flag false positives/negatives, potentially leading to incorrect medical decisions. It leads to adverse patient outcomes and there could be legal and ethical implications. Healthcare professionals may lose confidence in the AI system if it consistently provides inaccurate or unreliable results. This can hinder its adoption and acceptance in clinical practice.
Covid-19 Impact
The COVID-19 pandemic has had both direct and indirect impacts on healthcare and the adoption of AI in cardiology. Due to lockdowns and social distancing measures, there was a surge in demand for telemedicine and remote monitoring solutions. AI-powered tools, including those in cardiology, played a significant role in facilitating virtual consultations and remote monitoring of patients' cardiac conditions. AI algorithms were swiftly deployed to assist in the diagnosis and triage of COVID-19 cases. The need for minimizing in-person interactions led to an increased focus on remote diagnostic imaging, where AI can play a crucial role in interpreting images and aiding in the diagnosis of cardiac conditions.
The software segment is expected to be the largest during the forecast period
The software segment is estimated to have a lucrative growth, due to the growing need for AI-enabled diagnostic solutions. Through data analysis, AI-based software improves medical decision-making. The ECG, aided by AI algorithms, has shortened the time it takes to diagnose patients and is capable of identifying anomalies. Moreover, this software increases productivity and provides better heart analysis. These factors are improving the demand for AI software in cardiology.
The cardiac arrhythmias segment is expected to have the highest CAGR during the forecast period
The cardiac arrhythmias segment is anticipated to witness the highest CAGR growth during the forecast period. AI algorithms can analyze electrocardiograms (ECGs) to identify and classify various types of arrhythmias, including atrial fibrillation, ventricular tachycardia, and bradycardia. AI algorithms can process long-term ECG data collected by Holter monitors. They can identify and record episodes of arrhythmias for later review by healthcare providers. In addition, personalized treatment planning, telemedicine and ECG interpretation assistance are boosting the segment growth.
Region with largest share:
North America is projected to hold the largest market share during the forecast period owing to its well-established healthcare infrastructure, rapid adoption of technologically advanced products, and increased regulatory approvals of AI products. North America, particularly the United States, is a hub for technological innovation and development. Also, the region attracts significant investment in healthcare technology, including AI applications. Moreover, the growing emphasis on telemedicine and growing focus on patient-centric care is propelling the market demand.
Region with highest CAGR:
Asia Pacific is projected to have the highest CAGR over the forecast period, owing to the growing geriatric population, developing healthcare infrastructure, and improvement in the region's economic conditions. Moreover, there is a high prevalence of cardiovascular diseases in the region. China is positioned in top for CVD patient’s records. Therefore, the region's high disease burden and developing healthcare infrastructure are expected to improve the adoption of AI in cardiac diagnosis and treatment.
Key players in the market
Some of the key players profiled in the Artificial Intelligence In Cardiology Market include Arterys Inc., IDOVEN, Cardiologs, Ultrasight, Ultromics Limited, DiA Imaging Analysis, CardiAI, Viz AI, Cleerly, Inc, RSIP Vision, Vista AI, HeartVista Inc, Caption Health, HeartFlow, Bay Labs, Siemens Healthineers, NuvoAir and PathAI.
Key Developments:
In August 2023, Siemens Healthineers unveils the Acuson Origin1, a dedicated cardiovascular ultrasound system with new, robust artificial intelligence (AI) features. Designed to improve patient outcomes and help physicians perform minimally invasive cardiac procedures more efficiently, the Acuson Origin addresses the entire continuum of cardiovascular patient care, including diagnostic, structural heart, electrophysiological, and pediatric procedures.
In February 2023, DiA Imaging Analysis received U.S. FDA clearance for its LVivo IQS software solution, which is used to provide high-quality echocardiography images of the heart to physicians.
In April 2022, Arterys has launched Strain + AI a new cardio AI feature. Strain + AI has beautiful, easy to interpret color and vector overlays, 17-segment models, and plot curves and automatically provides strain and strain rate decomposed into radial and circumferential components as well as myocardial velocity.
Components Covered:
• Software
• Hardware
• Services
Applications Covered:
• Stroke
• Cardiac Arrhythmias
• Ischemic Heart Disease
• Other Applications
End Users Covered:
• Healthcare Payers
• Life Science Companies
• Healthcare Providers
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Artificial Intelligence In Cardiology Market, By Component
5.1 Introduction
5.2 Software
5.3 Hardware
5.4 Services
6 Global Artificial Intelligence In Cardiology Market, By Application
6.1 Introduction
6.2 Stroke
6.3 Cardiac Arrhythmias
6.4 Ischemic Heart Disease
6.5 Other Applications
7 Global Artificial Intelligence In Cardiology Market, By End User
7.1 Introduction
7.2 Healthcare Payers
7.3 Life Science Companies
7.4 Healthcare Providers
8 Global Artificial Intelligence In Cardiology Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 Arterys Inc.
10.2 IDOVEN
10.3 Cardiologs
10.4 Ultrasight
10.5 Ultromics Limited
10.6 DiA Imaging Analysis
10.7 CardiAI
10.8 Viz AI
10.9 Cleerly, Inc
10.10 RSIP Vision
10.11 Vista AI
10.12 HeartVista Inc
10.13 Caption Health
10.14 HeartFlow
10.15 Bay Labs
10.16 Siemens Healthineers
10.17 NuvoAir
10.18 PathAI
List of Tables
1 Global Artificial Intelligence In Cardiology Market Outlook, By Region (2021-2030) ($MN)
2 Global Artificial Intelligence In Cardiology Market Outlook, By Component (2021-2030) ($MN)
3 Global Artificial Intelligence In Cardiology Market Outlook, By Software (2021-2030) ($MN)
4 Global Artificial Intelligence In Cardiology Market Outlook, By Hardware (2021-2030) ($MN)
5 Global Artificial Intelligence In Cardiology Market Outlook, By Services (2021-2030) ($MN)
6 Global Artificial Intelligence In Cardiology Market Outlook, By Application (2021-2030) ($MN)
7 Global Artificial Intelligence In Cardiology Market Outlook, By Stroke (2021-2030) ($MN)
8 Global Artificial Intelligence In Cardiology Market Outlook, By Cardiac Arrhythmias (2021-2030) ($MN)
9 Global Artificial Intelligence In Cardiology Market Outlook, By Ischemic Heart Disease (2021-2030) ($MN)
10 Global Artificial Intelligence In Cardiology Market Outlook, By Other Applications (2021-2030) ($MN)
11 Global Artificial Intelligence In Cardiology Market Outlook, By End User (2021-2030) ($MN)
12 Global Artificial Intelligence In Cardiology Market Outlook, By Healthcare Payers (2021-2030) ($MN)
13 Global Artificial Intelligence In Cardiology Market Outlook, By Life Science Companies (2021-2030) ($MN)
14 Global Artificial Intelligence In Cardiology Market Outlook, By Healthcare Providers (2021-2030) ($MN)
15 North America Artificial Intelligence In Cardiology Market Outlook, By Country (2021-2030) ($MN)
16 North America Artificial Intelligence In Cardiology Market Outlook, By Component (2021-2030) ($MN)
17 North America Artificial Intelligence In Cardiology Market Outlook, By Software (2021-2030) ($MN)
18 North America Artificial Intelligence In Cardiology Market Outlook, By Hardware (2021-2030) ($MN)
19 North America Artificial Intelligence In Cardiology Market Outlook, By Services (2021-2030) ($MN)
20 North America Artificial Intelligence In Cardiology Market Outlook, By Application (2021-2030) ($MN)
21 North America Artificial Intelligence In Cardiology Market Outlook, By Stroke (2021-2030) ($MN)
22 North America Artificial Intelligence In Cardiology Market Outlook, By Cardiac Arrhythmias (2021-2030) ($MN)
23 North America Artificial Intelligence In Cardiology Market Outlook, By Ischemic Heart Disease (2021-2030) ($MN)
24 North America Artificial Intelligence In Cardiology Market Outlook, By Other Applications (2021-2030) ($MN)
25 North America Artificial Intelligence In Cardiology Market Outlook, By End User (2021-2030) ($MN)
26 North America Artificial Intelligence In Cardiology Market Outlook, By Healthcare Payers (2021-2030) ($MN)
27 North America Artificial Intelligence In Cardiology Market Outlook, By Life Science Companies (2021-2030) ($MN)
28 North America Artificial Intelligence In Cardiology Market Outlook, By Healthcare Providers (2021-2030) ($MN)
29 Europe Artificial Intelligence In Cardiology Market Outlook, By Country (2021-2030) ($MN)
30 Europe Artificial Intelligence In Cardiology Market Outlook, By Component (2021-2030) ($MN)
31 Europe Artificial Intelligence In Cardiology Market Outlook, By Software (2021-2030) ($MN)
32 Europe Artificial Intelligence In Cardiology Market Outlook, By Hardware (2021-2030) ($MN)
33 Europe Artificial Intelligence In Cardiology Market Outlook, By Services (2021-2030) ($MN)
34 Europe Artificial Intelligence In Cardiology Market Outlook, By Application (2021-2030) ($MN)
35 Europe Artificial Intelligence In Cardiology Market Outlook, By Stroke (2021-2030) ($MN)
36 Europe Artificial Intelligence In Cardiology Market Outlook, By Cardiac Arrhythmias (2021-2030) ($MN)
37 Europe Artificial Intelligence In Cardiology Market Outlook, By Ischemic Heart Disease (2021-2030) ($MN)
38 Europe Artificial Intelligence In Cardiology Market Outlook, By Other Applications (2021-2030) ($MN)
39 Europe Artificial Intelligence In Cardiology Market Outlook, By End User (2021-2030) ($MN)
40 Europe Artificial Intelligence In Cardiology Market Outlook, By Healthcare Payers (2021-2030) ($MN)
41 Europe Artificial Intelligence In Cardiology Market Outlook, By Life Science Companies (2021-2030) ($MN)
42 Europe Artificial Intelligence In Cardiology Market Outlook, By Healthcare Providers (2021-2030) ($MN)
43 Asia Pacific Artificial Intelligence In Cardiology Market Outlook, By Country (2021-2030) ($MN)
44 Asia Pacific Artificial Intelligence In Cardiology Market Outlook, By Component (2021-2030) ($MN)
45 Asia Pacific Artificial Intelligence In Cardiology Market Outlook, By Software (2021-2030) ($MN)
46 Asia Pacific Artificial Intelligence In Cardiology Market Outlook, By Hardware (2021-2030) ($MN)
47 Asia Pacific Artificial Intelligence In Cardiology Market Outlook, By Services (2021-2030) ($MN)
48 Asia Pacific Artificial Intelligence In Cardiology Market Outlook, By Application (2021-2030) ($MN)
49 Asia Pacific Artificial Intelligence In Cardiology Market Outlook, By Stroke (2021-2030) ($MN)
50 Asia Pacific Artificial Intelligence In Cardiology Market Outlook, By Cardiac Arrhythmias (2021-2030) ($MN)
51 Asia Pacific Artificial Intelligence In Cardiology Market Outlook, By Ischemic Heart Disease (2021-2030) ($MN)
52 Asia Pacific Artificial Intelligence In Cardiology Market Outlook, By Other Applications (2021-2030) ($MN)
53 Asia Pacific Artificial Intelligence In Cardiology Market Outlook, By End User (2021-2030) ($MN)
54 Asia Pacific Artificial Intelligence In Cardiology Market Outlook, By Healthcare Payers (2021-2030) ($MN)
55 Asia Pacific Artificial Intelligence In Cardiology Market Outlook, By Life Science Companies (2021-2030) ($MN)
56 Asia Pacific Artificial Intelligence In Cardiology Market Outlook, By Healthcare Providers (2021-2030) ($MN)
57 South America Artificial Intelligence In Cardiology Market Outlook, By Country (2021-2030) ($MN)
58 South America Artificial Intelligence In Cardiology Market Outlook, By Component (2021-2030) ($MN)
59 South America Artificial Intelligence In Cardiology Market Outlook, By Software (2021-2030) ($MN)
60 South America Artificial Intelligence In Cardiology Market Outlook, By Hardware (2021-2030) ($MN)
61 South America Artificial Intelligence In Cardiology Market Outlook, By Services (2021-2030) ($MN)
62 South America Artificial Intelligence In Cardiology Market Outlook, By Application (2021-2030) ($MN)
63 South America Artificial Intelligence In Cardiology Market Outlook, By Stroke (2021-2030) ($MN)
64 South America Artificial Intelligence In Cardiology Market Outlook, By Cardiac Arrhythmias (2021-2030) ($MN)
65 South America Artificial Intelligence In Cardiology Market Outlook, By Ischemic Heart Disease (2021-2030) ($MN)
66 South America Artificial Intelligence In Cardiology Market Outlook, By Other Applications (2021-2030) ($MN)
67 South America Artificial Intelligence In Cardiology Market Outlook, By End User (2021-2030) ($MN)
68 South America Artificial Intelligence In Cardiology Market Outlook, By Healthcare Payers (2021-2030) ($MN)
69 South America Artificial Intelligence In Cardiology Market Outlook, By Life Science Companies (2021-2030) ($MN)
70 South America Artificial Intelligence In Cardiology Market Outlook, By Healthcare Providers (2021-2030) ($MN)
71 Middle East & Africa Artificial Intelligence In Cardiology Market Outlook, By Country (2021-2030) ($MN)
72 Middle East & Africa Artificial Intelligence In Cardiology Market Outlook, By Component (2021-2030) ($MN)
73 Middle East & Africa Artificial Intelligence In Cardiology Market Outlook, By Software (2021-2030) ($MN)
74 Middle East & Africa Artificial Intelligence In Cardiology Market Outlook, By Hardware (2021-2030) ($MN)
75 Middle East & Africa Artificial Intelligence In Cardiology Market Outlook, By Services (2021-2030) ($MN)
76 Middle East & Africa Artificial Intelligence In Cardiology Market Outlook, By Application (2021-2030) ($MN)
77 Middle East & Africa Artificial Intelligence In Cardiology Market Outlook, By Stroke (2021-2030) ($MN)
78 Middle East & Africa Artificial Intelligence In Cardiology Market Outlook, By Cardiac Arrhythmias (2021-2030) ($MN)
79 Middle East & Africa Artificial Intelligence In Cardiology Market Outlook, By Ischemic Heart Disease (2021-2030) ($MN)
80 Middle East & Africa Artificial Intelligence In Cardiology Market Outlook, By Other Applications (2021-2030) ($MN)
81 Middle East & Africa Artificial Intelligence In Cardiology Market Outlook, By End User (2021-2030) ($MN)
82 Middle East & Africa Artificial Intelligence In Cardiology Market Outlook, By Healthcare Payers (2021-2030) ($MN)
83 Middle East & Africa Artificial Intelligence In Cardiology Market Outlook, By Life Science Companies (2021-2030) ($MN)
84 Middle East & Africa Artificial Intelligence In Cardiology Market Outlook, By Healthcare Providers (2021-2030) ($MN)
List of Figures
List of Figures
Figure 1 Global Artificial Intelligence In Cardiology Market Outlook (2021-2030) ($MN)
Figure 2 North America Artificial Intelligence In Cardiology Market Outlook (2021-2030) ($MN)
Figure 3 US Artificial Intelligence In Cardiology Market Outlook (2021-2030) ($MN)
Figure 4 Canada Artificial Intelligence In Cardiology Market Outlook (2021-2030) ($MN)
Figure 5 Mexico Artificial Intelligence In Cardiology Market Outlook (2021-2030) ($MN)
Figure 6 Europe Artificial Intelligence In Cardiology Market Outlook (2021-2030) ($MN)
Figure 7 Germany Artificial Intelligence In Cardiology Market Outlook (2021-2030) ($MN)
Figure 8 UK Artificial Intelligence In Cardiology Market Outlook (2021-2030) ($MN)
Figure 9 Italy Artificial Intelligence In Cardiology Market Outlook (2021-2030) ($MN)
Figure 10 France Artificial Intelligence In Cardiology Market Outlook (2021-2030) ($MN)
Figure 11 Spain Artificial Intelligence In Cardiology Market Outlook (2021-2030) ($MN)
Figure 12 Rest of Europe Artificial Intelligence In Cardiology Market Outlook (2021-2030) ($MN)
Figure 13 Asia Pacific Artificial Intelligence In Cardiology Market Outlook (2021-2030) ($MN)
Figure 14 Japan Artificial Intelligence In Cardiology Market Outlook (2021-2030) ($MN)
Figure 15 China Artificial Intelligence In Cardiology Market Outlook (2021-2030) ($MN)
Figure 16 India Artificial Intelligence In Cardiology Market Outlook (2021-2030) ($MN)
Figure 17 Australia Artificial Intelligence In Cardiology Market Outlook (2021-2030) ($MN)
Figure 18 New Zealand Artificial Intelligence In Cardiology Market Outlook (2021-2030) ($MN)
Figure 19 South Korea Artificial Intelligence In Cardiology Market Outlook (2021-2030) ($MN)
Figure 20 Rest of Asia Pacific Artificial Intelligence In Cardiology Market Outlook (2021-2030) ($MN)
Figure 21 South America Artificial Intelligence In Cardiology Market Outlook (2021-2030) ($MN)
Figure 22 Argentina Artificial Intelligence In Cardiology Market Outlook (2021-2030) ($MN)
Figure 23 Brazil Artificial Intelligence In Cardiology Market Outlook (2021-2030) ($MN)
Figure 24 Chile Artificial Intelligence In Cardiology Market Outlook (2021-2030) ($MN)
Figure 25 Rest of South America Artificial Intelligence In Cardiology Market Outlook (2021-2030) ($MN)
Figure 26 Middle East & Africa Artificial Intelligence In Cardiology Market Outlook (2021-2030) ($MN)
Figure 27 Saudi Arabia Artificial Intelligence In Cardiology Market Outlook (2021-2030) ($MN)
Figure 28 UAE Artificial Intelligence In Cardiology Market Outlook (2021-2030) ($MN)
Figure 29 Qatar Artificial Intelligence In Cardiology Market Outlook (2021-2030) ($MN)
Figure 30 South Africa Artificial Intelligence In Cardiology Market Outlook (2021-2030) ($MN)
Figure 31 Rest of Middle East & Africa Artificial Intelligence In Cardiology Market Outlook (2021-2030) ($MN)
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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