Deals and collaborations this year in the medical device space indicate a growing interest in artificial intelligence (AI) applications for diagnosing and treating cardiovascular disease.

New York-based digital health company Cleerly raised $192 million in a Series C financing round for its AI-driven diagnostic platform for coronary atherosclerosis in July. Earlier that month, AI-driven company anumana inc partnered with Novartis to drive the development of its electrocardiogram (ECG) AI algorithms to detect subclinical heart disease.

“AI is offering cardiologists a new set of tools to aid in decision-making, maximize workflow efficiency, and deliver more personalized patient care. To date, it has been used to predict cardiovascular disease risk, interpret ECGs and diagnostic images, and inform treatment selection,” said Jacob Fletcher, MSc, a medical analyst at GlobalData. “The applications for AI in cardiology have expanded significantly in recent years and was the focal point of several deals and partnerships in July.”

Researchers from Cornell University over the summer launched the Cardiovascular AI Initiative, a three-year, $15 million collaboration with the New York Presbyterian Hospital to employ AI and machine-learning techniques to inform heart failure treatment and prevention strategies.

According to GlobalData’s Deals Database, there have been 151 deals involving AI in the cardiovascular devices market since 2020. Cardiovascular device AI deals hit an all-time high in 2021, totaling nearly $1.6 billion.

“The continued investment in the development of AI-based cardiology tools reflects the growing potential of AI for manufacturers and cardiologists. Significant research efforts will be needed to support its adoption into practice, as patient benefits will need to be clearly demonstrated,” Fletcher said.

Article source: Medical Product Outsourcing