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CVD Technology Industry To Jump $40 Billion by 2030, Says IDTechEx New Report      

Cardiovascular diseases are one of the biggest reasons for death worldwide. The World Health Organisation report elaborates on cardiovascular diseases (CVD) to be all conditions that are somehow related to heart and blood vessels. CVD caused deaths to cause 17 million deaths annually which is a huge loss, making 31% of all deaths. WHO now expects that this number will increase to 23 million by the end of the year 2030.

IDTechEx is an organization that evaluates any strategic business decisions using the latest research and consultancy. It estimates CVD technology business to go over $40 billion by the end of 2030. This report is published on its website and available online to read. Click here to read it. 

The American Heart Association estimates the annual cost of the CVD industry to be more than $500 billion in the US alone. If this prevalence of CVD increases, it means there would be a dire need for solutions to manage it in the forms of healthcare units and services. 

CVD is a health threat for years and researchers are already working on a way to control its widespread. There is so much effort behind studying its progression at every stage. In this regard, technology is helping to improve the monitoring and treatment facilities for all patients of CVD.

Typically, the process begins with diagnosing the disease. It is necessary to diagnose it as early as possible so that the respective treatment line is planned. More importantly, early diagnosis helps to treat it completely while it is still treatable. Because at later stages, it might cause irreversible damage to the body and may not be treated ever.

In addition to that, preventing the disease would also help to control its spread. The major approaches to diagnose cardiovascular diseases include in-vitro diagnostics (IVD) at point-of-care (POC) and secondly, using artificial intelligence models (AI) for cardiovascular imaging.

Artificial intelligence-based imaging is far more accurate than imaging in general. For CVD, The point of care (POC) based on four major diagnostic technologies include the following.

  • “Lab-on-a-chip (LOAC)”
  • “Electrochemical test strips”
  • “Lateral flow assays (LFAs)”
  • “Molecular diagnostics (MDx)”

Even with using these diagnostic innovations, the protocols for patient monitoring are changing with time. Historically, patients of CVD needed to travel for finding a qualified general practitioner or a reputed hospital. But this is now a really old practice and people don’t need to do this to access healthcare facilities in today’s world. 

One of the biggest trends in patient monitoring nowadays is remote patient monitoring (RPM), which is to keep track of his disease’s progression without being physically present with him. The medical consultations can be done online using audio or video calls and all information regarding the patient is added to a digital platform, accessible to both patient and doctor. However, any changes to this record could be made from the physician’s side not the patient’s side. 

Cardiovascular RPM uses medical devices that are connected with the internet but used in the home. Some of them are wearables, for example, skin patches, medical accessories and smart apparel. Considering the latest research in medical technology, different gadgets, tools, and accessories are developed and introduced with every passing day.

Many forms of cardiovascular diseases go worse with time and once it is diagnosed, it requires immediate treatment. Some of the latest trends in CVD treatment that are “cardiac rhythm management” and “cardiovascular tissue generation”.

The treatment options based on the latest technologies help at all steps of disease progression. Some of these technologies are readily available for commercial use but many others are still in proof-of-concept state. Based on the researcher’s understanding of the disease, the development of these tech-based tools is completed and launched into healthcare systems. 

For example, pacemakers are being used for many decades to control cardiac rhythm. But on the other hand, many new trends such as cardiac tissue engineering and bioprinting technologies are still in early-stage development due to insufficient understanding of complexities in human tissue re-building. IDTechEx Research predicts this technology to exceed $40 billion in a few years in their latest report called “Cardiovascular Disease 2020-2030: Trends, Technologies & Outlook“. 

It is not uncommon to think that an increase in CVD prevalence would increase the demand for tools and devices that diagnose and treat this condition. The technological tools definitely improve the condition of CVD patients, so there is no doubt that this tech-demand is going to be a billion worth industry.

Click here to read more Life Sciences research by IDTechEx. 

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Areeba Hussain

The author is a fulltime medical and healthcare writer. She graduated in Medical Microbiology and Immunology with distinction. Her areas of prime interest are medicine, medical technology, disease awareness, and research analysis. Twitter @Areeba94789300

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