Industry Outlook
The cardiovascular information systems market stood at US$ 696.7 Mn in 2017 and projected to exhibit a compound annual growth rate (CAGR) of 8.2% during the forecast period from 2018 to 2026. Cardiovascular information system (CVIS) is a kind of electronic health record specifically designed for cardiovascular solutions. CVIS aims to support workflow in cardiology department by allowing easy generation and access to cardiovascular electronic medical records. CVIS also plays a prime role in patient scheduling, examination interpretation and results tracking and procedural billing. The prime benefits of CVIS include heightened patient safety and speedy access of individual’s medical reports to the experts. The cardiovascular information systems has undergone transformation over the years due to rising demands of its interoperability, healthcare reforms in worldwide and 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 growing prevalence of cardiovascular diseases in the region. Swift adoption of advanced healthcare technologies in the region also assists the growth of North America cardiovascular information systems market. Asia Pacific is projected to exhibit fastest growth rate during the forecast period owing to growing healthcare infrastructure and medical tourism in the region creating need for integrated healthcare solutions.
Market Synopsis
Increasing Prevalence of Cardiovascular Diseases to Drive the Market Growth
In 2017, CVIS segment held the largest share in global cardiovascular information systems market owing to increasing prevalence of cardiovascular diseases globally. Moreover, ease in report generation and access at any point of time would further drive the market growth of CVIS during the future period. C-PACS expected to emerge as the fastest growing segment due to growing inclination to adoption of picture archiving and communication systems (PACS) 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 enables seamless information sharing between CVIS and C-PACS.
Web-based CVIS Set to Dominate the Delivery Mode Segment
In 2017, web-based CVIS held the largest share in global cardiovascular information systems market as it offers best of both worlds where healthcare systems can 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. Cloud-based cardiovascular information system is projected to grow at fastest growth rate during the forecast period. Could-based platform allows consolidation of imaging data into any repository and improve interoperability across departments and even enterprise. Synchronized updates allow consistency of centralized data store. Cloud storage also eliminates the errors of file corruption or loss due to shortcomings of physical media.
Increasing Adoption of Telemedicine in North America for swift growth during the forecast period
In 2017, North America held the largest share in 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 implementation of electronic health records (EHR) and health information exchanges (HIEs) in the hospitals. Asia Pacific is set to grow at fastest rate owing to developing healthcare infrastructure, rising preference for technically advanced medical devices and equipment and availability of skilled professionals. Presence of large patient pool suffering from cardiovascular patients coupled with rise of medical tourism in the region have created the demand for efficient healthcare IT, consequently driving the cardiovascular information system market in the region.
Historical & Forecast Period
2016 – Historical 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. Compounded annual growth rate (CAGR) for each respective segments calculated for the forecast period from 2018 to 2026.
Report Scope by Segments
Cardiovascular information systems market report furnishes quantitative analysis along with its latest market trends. The market is segmented based on type, by component, delivery mode, application and geography.
By System Type (2016–2026; US$ Mn)
Cardiovascular Information Systems (CVIS)
Cardiology Picture Archiving and Communication Systems (C-PACS)
By Component (2016–2026; US$ Mn)
- Software
- Services
- Hardware
By Delivery Mode (2016–2026; US$ Mn)
- Web-based CVIS
- Onsite CVIS
- Cloud-based CVIS
By 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; US$ Mn)
- North America
- Europe
- U.K.
- Germany
- Rest of Europe
- Asia Pacific (APAC)
- Latin America (LATAM)
- Brazil
- Mexico
- Rest of Latin America
- Middle East and Africa (MEA)
- GCC
- Rest of Middle East and Africa
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 data forecast from 2018 to 2026. Strategic acquisition, merger and collaboration among the key players for developing innovative product pipeline 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.
Key questions answered in this report
- How the global cardiovascular information systems market will perform during the forecast period from 2018 to 2026?
- What are the latest trends in the cardiovascular information systems market and valuable opportunities for key players?
- Who are the leading players in the global cardiovascular information systems market?
- Which is the leading/and fastest region in the global cardiovascular information systems market?
- Currently, what are the reimbursement scenario and regulatory structure for the cardiovascular information systems?
- What are drivers and restrains governing the global cardiovascular information systems market?
