The cardiovascular information systems market was worth $696.7 million in 2017 and was expected to grow at an 8.2% compound annual growth rate (CAGR) from 2018 to 2026. A cardiovascular information system (CVIS) is a type of electronic health record that is designed specifically for cardiovascular solutions.CVIS aims to support workflow in the cardiology department by allowing easy generation and access to cardiovascular electronic medical records. CVIS also plays a prime role in patient scheduling, examination interpretation, results tracking, and procedural billing. The prime benefits of CVIS include heightened patient safety and speedy access to individuals' medical reports by experts.
The cardiovascular information system has undergone a transformation over the years due to rising demands for its interoperability, healthcare reforms worldwide, and a transforming healthcare IT landscape and infrastructure. The vendors are aiming to drive their solutions to yield single-point access to consolidated lab reports, electrocardiogram management, echo PACS, hemodynamics, advanced visualization imaging, nuclear medicine, and other specialty modalities in CVIS. North America dominated the global cardiovascular information systems market mainly due to the growing prevalence of cardiovascular diseases in the region. The swift adoption of advanced healthcare technologies in the region also assists the growth of the North American cardiovascular information systems market. Asia Pacific is projected to exhibit the fastest growth rate during the forecast period owing to growing healthcare infrastructure and medical tourism in the region, creating a need for integrated healthcare solutions.
Market Synopsis
The rising prevalence of cardiovascular diseases will drive market expansion.
In 2017, the CVIS segment held the largest share in the global cardiovascular information systems market owing to the increasing prevalence of cardiovascular diseases globally. Furthermore, the ease of creating and accessing reports at any time would drive CVIS market growth in the future. C-PACS is expected to emerge as the fastest-growing segment due to a growing inclination toward the adoption of PACS for management workflow coordination, including the creation and distribution of images within the imaging department and throughout the imaging enterprise. Optimal efficiency for the imaging department occurs when C-PACS and CVIS integration enable seamless information sharing between CVIS and C-PACS.
A web-based CVIS is set to dominate the delivery mode segment.
In 2017, web-based CVIS held the largest share in the global cardiovascular information systems market as it offered the best of both worlds, allowing healthcare systems to have critical content saved locally while making it remotely available based on contingencies or as the need may be, through automated commands and business processes. The fully web-based CVIS makes cardiology departments more effective and efficient through complete electronic management of patient information. A cloud-based cardiovascular information system is projected to grow at the fastest growth rate during the forecast period. A cloud-based platform allows imaging data to be consolidated into any repository while also improving interoperability across departments and even enterprises. Synchronized updates allow consistency in a centralized data store. Cloud storage also eliminates the errors of file corruption or loss caused by physical media flaws.
Increasing adoption of telemedicine in North America for swift growth during the forecast period
In 2017, North America held the largest share of the global cardiovascular information systems market. The key factors responsible for the growth of this region include improved quality of clinical outcomes and patient care due to the implementation of electronic health records (EHR) and health information exchanges (HIEs) in hospitals. Asia Pacific is set to grow at the fastest rate owing to developing healthcare infrastructure, rising preference for technologically advanced medical devices and equipment, and the availability of skilled professionals. The presence of a large patient pool with cardiovascular disease, combined with the rise of medical tourism in the region, has created a demand for efficient healthcare IT, driving the cardiovascular information system market in the region.
Periods of History and Forecast
2016 : Historic year.
2017: Base Year
2018–2026: Forecast Period
This research report presents the analysis of each segment from 2016 to 2026, considering 2017 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments was calculated for the forecast period from 2018 to 2026.
Report Scope by Segments
The Cardiovascular Information Systems Market Report offers quantitative analysis as well as the most recent market trends. The market is segmented based on type, component, delivery mode, application, and geography.
By system type (2016-2026; millions of dollars)
Cardiovascular Information Systems (CVIS)
Cardiology Picture Archiving and Communication Systems (C-PACS)
Component-by-component (2016-2026; US$ Mn)
Software
Services
Hardware
By Mode of Delivery (2016-2026; US$ Mn),
Web-based CVIS
Onsite CVIS
Cloud-based CVIS
According to Application (2016-2026; US$ Mn)
Cardiac and peripheral catheterization
Hemodynamics monitoring
Electrophysiology
Echocardiography
Cardiac CT
Cardiac MRA
Others (pacemaker/ICD, nuclear cardiology, etc.)
Geography Segment (2016-2026; millions of dollars)
North America
U.S.
Canada
Europe
Germany
France
Italy
U.K.
Russia
Rest of Europe
Asia-Pacific
India
China
Japan
Rest of Asia-Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East and Africa
GCC Countries
South Africa
Rest of Middle East and Africa
The market is studied in order to understand the current and future market trends in the cardiovascular information systems market. The market is estimated by providing the compounded annual growth rate (CAGR) and a data forecast from 2018 to 2026. The strategic acquisition, merger, and collaboration among the key players for developing an innovative product pipeline are mentioned in the business strategy section. The key players currently engaged in the cardiovascular information systems market are GE Healthcare, Mckesson Corporation, Siemens Healthcare, Philips Healthcare, AGFA Healthcare, Merge Healthcare, Fujifilm Medical Systems, Cerner Corporation, Lumedx, and Digisonics.
Frequently Asked Questions:
The market for Cardiovascular Information Systems Market is expected to reach US$ 696.7 Mn by 2026.
The Cardiovascular Information Systems Market is expected to see significant CAGR growth over the coming years, at 8.2%.
The report is forecasted from 2018-2026.
The base year of this report is 2017.
GE Healthcare, Mckesson Corporation, Siemens Healthcare, Philips Healthcare, AGFA Healthcare, Merge Healthcare, Fujifilm Medical Systems, Cerner Corporation, Lumedx are some of the major players in the global market.
