According to the WHO, cardiovascular diseases are one of the leading causes for deaths around the world. With rising incidence of cardiovascular diseases and demand for consolidation of medical records, cardiovascular information systems (CVIS) market is expected to gain considerable impetus. Improved patient care and rapid access to electronic medical records (EMRs) would be driving the CVIS market size to reach USD 1,343.26 million by 2025, registering a CAGR of 8.30% over 2018-2025.
In the recent years, cardiovascular information systems market have undergone a transformation to meet demands for better interoperability, changing healthcare IT landscape and infrastructure and need to meet healthcare reform requirements. Various market players are either undertaking collaborative efforts or launching new products and therefore aiding in the growth of the cardiovascular information systems industry.
Since lifestyle changes and pollutions level have led to increase in cardiovascular diseases around the world, growth of cardiovascular information systems market is also occurring across the globe. Enhancement of healthcare infrastructure and market players striving to gain competitive advantage would also act as driving forces.
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Cardiovascular information systems market is segmented according to component, deployment, application, and end-user.
- By Component-wise, CVIS market is classified as software, hardware, and services.
- By Deployment CVIS market segmentation includes web or cloud-based and on-premise. Lower capital expenditure and prospects of scaling businesses with ease with web or cloud-based CVIS will augment the growth of this segment which is projected to register the highest CAGR during the forecast period.
- By Application wise segmentation of the CVIS market includes vascular ultrasound, hemodynamics monitoring, ECG/stress/Holter management, nuclear cardiology, cardiac and peripheral catheterization, electrophysiology and echocardiography.
- By End-users includes cath labs, hospitals & clinics and diagnostic laboratories.
Some of the major cardiovascular information systems market players include General Electric Company, Siemens Healthineers, Koninklijke Philips N.V., Fujifilm Holdings Corporation, McKesson Corporation, Cerner Corporation, IBM Health, LUMEDX, Agfa-Gevaert N.V., Digisonics Inc., Carestream Health, Epic Systems Corporation, Scimage, Inc. and others.
Geographical segmentation of cardiovascular information system market includes trends in Europe, Asia Pacific, Americas, and the Middle East & Africa. In 2017, the Americas captured 37.6% share in the CVIS market and is anticipated to surpass a valuation of USD 481.04 million by 2025 due to the presence of sophisticated healthcare infrastructure and implementation of advanced systems for workflow streamlining in hospitals. The region has been increasingly utilizing mHealth and big data for early diagnosis and prevention of CVDs, reforms that are projected to augment CVIS market growth.
Europe CVIS market is also projected to grow steadily due to amplified governments and private funding to expand treatment offerings in hospitals. Moreover, digitization of patient data is expected to be a positive indicator for the growth of the market.
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The Middle East healthcare industry is expanding rapidly and the Project Taji that has been undertaken for the enhancement of cardio healthcare offerings in Saudi Arabia. Royal Philips, a health technology company, is collaborating with the Ministry of Health in Saudi Arabia to provide a novel integrated cardiovascular information system across various facilities throughout the country.
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