Key Cardiology Health Industry Statistics
805,000
Americans experience a heart attack each year*
$363B
annual aggregate expenditure from heart disease in the U.S.*
7,000,000+
expected U.S. cardiologist labor deficit by 2025*
25%
projected ambulatory surgery center procedure growth over next decade**
* KPGM; **IBIS World
Cardiology Healthcare Industry Overview
The Cardiology industry was valued at over $300B in 2023 and is estimated to grow at a CAGR (Compound Annual Growth Rate) of 4% to 2030, according to KPGM. Multiple factors drive demand in the cardiology healthcare industry, such as an aging population, rise in obesity and innovation of care delivery.
Industry Key Trends
- Cardiovascular disease is increasingly prevalent as the population of adults aged 60 years and older in the United States grows. Nine out of 10 adults seeking cardiologists are in this age group, according to IBIS World.
- Increasing demand for cardiovascular healthcare coupled with large portions of active cardiologists nearing retirement implies an upcoming labor shortage in the industry, further driving consolidation
- Minimally invasive ambulatory surgery center-based procedures are aiding continued growth for practices, but at a cost to hospitals
- The rise of new technology is driving the global cardiovascular clinical trials market at a CAGR of 6.18%. This escalating focus on R&D implies benefits including but not limited to market expansion opportunities, regulatory advancements and improved patient outcomes.
- Increased emphasis on preventive care through mobile and wearable technology, lifestyle modifications and other initiatives presents new expansion opportunities for cardiologists
Cardiology Industry Market Segmentation
as of 2023
Source: IBIS World
Cardiology Industry CAGR
2023-2030
Source: KPGM
Top 3 Cardiology Industry M&A Drivers
The cardiology healthcare industry has seen increasing investor interest and consolidation due to a wide variety of factors, including:
- Offices shifting to multi-specialty practices to reduce competitive pressures and achieve economies of scale
- New reimbursement codes allow practices to grow by adding ambulatory surgery centers
- Telemedicine and wearable technology allow practices to expand and improve care, increase revenue, and drive scale
As demand continues to increase and available labor decreases, further consolidation will be driven by resource scarcity.
All PPM M&A Activity & Valuation Trends
Source: CapIQ, Cascade Partners
Cardiology Healthcare M&A Activity, 2019-2023
by U.S. Geographic Region
Source: KPGM
Recent M&A Activity in Cardiology Healthcare
Source: Capital IQ, Pitchbook, Cascade Partners
| Date | Target | Acquirer |
Jun-24 | Silk Road Medical | Boston Scientific |
May-24 | Cardiac Rhythm Center | CLS Health |
May-24 | AMI Cardiac Monitoring | WearLinq |
Apr-24 | Shockwave Medical | Johnson & Johnson |
Feb-24 | Adagio Medical | Arya Sciences Acquisition IV |
Feb-24 | Cardiovascular Associates | USA Health System |
Feb-24 | Cardiology Associates of Northern New York | Samaritan Medical Center |
Jan-24 | National Cardiovascular Partners | Undisclosed |
Oct-23 | Ventricle Health | RA Capital Management; Waterline Ventures |
Oct-23 | Clearwater Cardiovascular Consultants | Cardiovascular Logistics (Lee Equity) |
Select Transactions
