The cardiology physician market in the U.S. was estimated to generate approximately $60 billion in 2023 and is expected to grow at a compounded annual growth rate of 2.6% from 2023 to 2028, according to a corporate finance report released in October 2024 by KPMG.
Several factors are driving this projected growth and continued private equity interest in cardiology, according to the report:
1. The number of U.S. adults aged 65 and older is projected to rise from about 48 million to more than 88 million by 2050.
2. Adults over age 60 contribute to approximately 89% of revenue for cardiology physician practices.
3. An estimated 98 million adults have prediabetes, a condition that can lead to heart disease.
4. The U.S. obesity prevalence was 47.1% between 2017 and March 2020.5. Cardiology has seen increasing growth in outpatient settings, especially at ambulatory surgery centers. This trend is largely driven by CMS’ proposed addition of numerous cardiology procedures to the ASC Covered Procedures List and the lower costs associated with outpatient care.
5. Cardiology has seen increasing growth in outpatient settings, especially at ambulatory surgery centers. This trend is largely driven by CMS’ proposed addition of numerous cardiology procedures to the ASC Covered Procedures List and the lower costs associated with outpatient care.
