PUBLISHER: DataM Intelligence | PRODUCT CODE: 1051888
PUBLISHER: DataM Intelligence | PRODUCT CODE: 1051888
The global cardiovascular information systems market size was valued US$ XX million in 2020 and is estimated to reach US$ XX million by 2028, growing at a CAGR of XX % during the forecast period (2021-2028).
The Cardiovascular Information System (CVIS) is a system that makes report generation and distribution simple and provides real-time access to cardiovascular electronic medical records (EMR) in the form of images, reports, and waveforms. Catheterization, echocardiography, data management for electrocardiography (ECG), and vascular solutions all use CVIS.
Rapidly evolving digital technologies for secondary cardiovascular diseases is expected to drive market growth.
Secondary prevention of cardiovascular disease (CVD), the primary cause of morbidity and mortality in the elderly, is crucial for increasing health outcomes and quality of life. As mobile health (mHealth) technology becomes more widely used and popular, it is becoming more user-friendly for older persons and a useful tool for reducing CVD risk and improving overall cardiovascular health. By improving the quality of life and cardiovascular health in patients with CVD, innovative mHealth technologies and devices could provide automated and semi-automated approaches to control rising expenses associated with advancing age. For older persons with CVD, mHealth technology may provide benefits in various ways, including enhancing physical function and enabling active self-management of healthy behaviours and medication adherence, all of which have been found to improve CVD outcomes. Thus, the market is expected to drive in the forecast period from the above statements.
The high cost of CVIS installation is likely to suppress the global cardiovascular information system's expansion. Health information technology (HIT) systems are frequently expensive. Currently, providers are expected to cover most of the upfront costs, with the majority of the savings going to others. For instance, hospitals frequently invest tens of millions of dollars in computerized physician order entry systems, which benefit other stakeholders such as insurance, purchasers, and patients.
The COVID-19 pandemic has moderately impacted healthcare systems and the market. Many countries' public health systems have been overburdened due to the COVID-19 crisis, highlighting the critical need for long-term investment in health systems. As the COVID-19 epidemic spreads, the healthcare industry's growth is projected to slow. The life sciences industry is booming due to the rising demand for in-vitro diagnostic products and increased research and development efforts worldwide. But whereas the medical technologies and imaging segment is witnessing a drop in sales due to fewer surgeries being carried out and delayed or prolonged equipment procurement.
Moreover, after the pandemic, virtual consultations with healthcare specialists are likely to become the standard care delivery. Digital health will prosper in the next years as telehealth transforms medical delivery. Therefore, disrupted clinical trials and the resulting delays in medication introductions are expected to pave the way for virtual testing in the future. However, the situation is expected to improve gradually in the forecast period.
Software segment is expected to hold the largest market share in cardiovascular information systems market.
The software segment accounted for the largest market share in 2020. Large strategic purchasers look for distinctive software solutions that solve problems in the healthcare business and are fast developing, providing lucrative exit options for entrepreneurs. As healthcare providers, payers, and life science competitors increasingly rely on them to manage and analyze data and contact patients, many healthcare IT startups are gaining traction. For instance, The architectural backbone of FUJIFILM Healthcare Americas Corporation's Synapse Cardiology PACS is server-side rendering technology united through one common diagnostic viewer to help improve care coordination, standardize clinical workflows, and enhance clinical decision making through greater image and information access. Moreover, Vendors are more aware of the necessity of CVIS interoperability with EMR due to the American Reinvestment and Recovery Act (ARRA). Therefore, the market is expected to hold the largest market share in the forecast period from the above statements.
North America region holds the largest market share in the global cardiovascular information systems market
In 2020, North America accounted for the highest revenue share. The region's highly-developed healthcare system, the rising prevalence of cardiovascular diseases and the increased use of Electronic Health Record (EHR) maintenance systems major players adopting several growth strategies such as product launches, acquisitions, and collaborations are some of the factors due to which the market is expected to boost in the forecast period. For instance, according to the Centers for Disease Control and Prevention, Coronary heart disease is the most common type of heart disease, killing 360,900 people in 2019. About 18.2 million adults age 20 and older have CAD (about 6.7%). About 2 in 10 deaths from CAD happen in adults less than 65 years old.
Moreover, LUMEDX, a CVIS provider, teamed up with MedAxiom, a cardiovascular healthcare membership organisation and community, to improve cardiovascular care in October 2019. As a result of the above assertions, there is a growing demand for cardiovascular information systems. Thus, the North American region holds the largest market share in the forecast period.
Major key players in the cardiovascular information systems market are Koninklijke Philips N.V., CREALIFE Medical Technology, Central Data Networks, Infinitt Healthcare, ESAOTE SPA, Siemens Healthcare GmbH, Cerner Corporation, Agfa-Gevaert Group, Change Healthcare and LUMEDX.
Koninklijke Philips N.V. is a Dutch multinational conglomerate corporation. Philips was formerly one of the largest electronics companies globally, currently focused on health technology, with other divisions being divested. Philips is organized into three main divisions: Personal Health (formerly Philips Consumer Electronics and Philips Domestic Appliances and Personal Care), Connected Care, and Diagnosis & Treatment (formerly Philips Medical Systems). It currently employs around 80,000 people across 100 countries.
IntelliSpace Cardiovascular: IntelliSpace Cardiovascular is designed to help streamline workflow and improve operational performance throughout the cardiovascular care continuum.
Visualize the composition of the global cardiovascular information systems market segmentation by type, component, application, mode of operations, end user and region highlighting the key commercial assets and players.
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Excel data sheet with thousands of data points of global cardiovascular information systems market- level 4/5 segmentation.
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Service Providers/ Buyers
Industry Investors/Investment Bankers
Education & Research Institutes
Research Professionals
Emerging Companies
Manufacturers
Global Cardiovascular Information Systems Market - By Type
CVIS (Cardiovascular Information System)
C-PACS (Cardiology Picture Archiving and Communication System)
Global Cardiovascular Information Systems Market - By Component
Hardware
Software
Standalone
Integrated
Services
Installation
Integration
Maintenance
Others
Global Cardiovascular Information Systems Market - By Application
Cardiothoracic Center CVIS Solutions
Pacemaker or ICD Lab CVIS Solutions
Heart Failure Center CVIS Solutions
Catheterization Lab CVIS Solutions
Echocardiography Lab CVIS Solutions
Electrophysiology Lab CVIS Solutions
Others
Global Cardiovascular Information Systems Market - By Mode of Operations
Web-based
Onsite
Cloud-based
Global Cardiovascular Information Systems Market - By End user
Hospitals and Clinics
Cardiac Cath Labs
Diagnostic Centers
Others
Global Cardiovascular Information Systems Market - By Region
North America
South America
Europe
Asia Pacific
Middle East & Africa