The global cardiovascular information system market is predicted to touch USD 1343.26 million at an 8.30% CAGR over the forecast period (2018-2025), states the latest Market Research Future (MRFR) report. Cardiovascular information system or (CVIS) is a system which offers easy access to cardiovascular EMR (electronic medical records) in waveforms, reports, and images in real-time and in multiple locations, that helps in facilitating virtual cardiac care. It helps in improving quality of care, patient safety, reducing errors by preventing duplicate entry, improving efficiency, strengthening referral relationships by accelerating report creation, increasing productivity, and streamlining the workflow of the cardiovascular information system.
Various factors are propelling the cardiovascular information system market growth. Some of these factors, according to the Market Research Future report, include increasing prevalence of various cardiovascular diseases and disorders such as ischemic heart disease, arrhythmias, and cardiac failure, various initiatives taken by the government for digitizing patient data, and technological advancements in healthcare IT. Additional factors pushing market growth include increasing need for productive data management tools in cardiac care departments and increasing rate of medication errors.
On the contrary, technical complexities and high costs related to CVIS that can result in hesitation in its adoption among hospitals are factors that may impede the cardiovascular information system market growth over the forecast period.
The MRFR report offers a wide segmental analysis of the cardiovascular information system market on the basis of end user, deployment, application, and component.
Based on component, the cardiovascular information system market is segmented into services, hardware, and software. Of these, the software segment will have the largest share in the market over the forecast period. This is owing to the software is capable of offering doctors and patients with clinical data in real-time.
Based on deployment, the cardiovascular information system market is segmented into on-premise and web/cloud-based. Of these, the web/cloud-based segment will lead the market over the forecast period. This is owing to the scalability of operations and low capital investment.
Based on applications, the cardiovascular information system market is segmented into electrophysiology, echocardiography, cardiac and peripheral catheterization, stress/ECG/Holter management, vascular ultrasound nuclear cardiology, and hemodynamics monitoring. Of these, the cardiac and peripheral catheterization segment will lead the market over the forecast period. This is owing to its wide use in early diagnosis as well as treatment of congenital disorders.
Based on end user, the cardiovascular information system market is segmented into hospitals and clinics, diagnostic laboratories, and cardiac cath labs. Of these, the hospitals and clinics segment will have the maximum share in the market over the forecast period.
By region, the cardiovascular information system market report covers the latest trends and growth opportunities across the Americas, Europe, the Asia Pacific, and the Middle East and Africa. Of these, the Americas will remain at the forefront in the market over the forecast period. It is predicted to touch USD 481.04 million by 2025. This is owing to the use of new systems to streamline workflow in hospitals, sophisticated healthcare infrastructure, and use of big data and mHealth for detecting cardiovascular diseases by clinicians at a preventive stage.
The cardiovascular information system market in Europe is predicted to have a steady growth over the forecast period. This is owing to the digitization of patient data and increased funding made by private organizations and governments to augment treatments in cardiology departments.
The cardiovascular information system market in the APAC region is predicted to grow at the fastest pace over the forecast period. This is owing to the massive cardiac patient population in the region. It is predicted to touch USD 282 million by 2025. India, as well as China, are the key contributors in this region owing to the rapidly improving healthcare infrastructure.
Leading players profiled in the cardiovascular information system market report include Siemens Healthineers (Germany), McKesson Corporation (US), General Electric Company (US), IBM Health (US), Agfa-Gevaert N.V. (Belgium), LUMEDX (China), Fujifilm Holdings Corporation (Japan), Digisonics Inc. (US), Epic Systems Corporation (US), Cerner Corporation (US), Koninklijke Philips N.V. (The Netherlands), Scimage, Inc. (US), and Carestream Health (U.S.), among others.
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