Overview
The global cardiovascular information system (CVIS) market size is poised to reach the valuation of USD 1,343.26
million by 2025, as per the latest report by Market Research Future (MRFR). The
market can grow immensely at 8.30% CAGR over the forecast period (2018-2025).
High prevalence of
cardiovascular diseases (CVDs) and disorders is the primary driver of the
market. As per the 2015 report by the World Health Organization (WHO), nearly
17.7 million died as a result of CVDs. This has triggered the need for advanced
systems in hospitals to reduce the mortality rate. In addition, government
initiatives to digitize patient data is likely to bode well for the
cardiovascular information system (CVIS) market. Implementation of the
electronic health records (EHR) system can make it easy for doctors and
physicians to lead to faster diagnosis of diseases.
Technological developments
in healthcare IT has led to the launch of CVIS platforms which can be accessed
remotely. This offers scope for doctors to diagnose and prescribe accurate
suggestions to patients. Recent upgrades to CVIS has made it possible for
different departments in the cardiology section to share and exchange
information on a single platform.
The high costs associated
with CVIS which can lead to hesitation towards adoption among hospitals can
pose a challenge to the market growth.
Segmentation
Analysis
The cardiovascular
information system (CVIS) market is segmented by component, deployment,
application, and end-user.
By component, software
held close to 67.9% share of the CVIS market in 2017, followed by services the
second largest market and hardware the least market share. The software segment
is expected to reach a valuation of USD 930.65 million by 2025 due to the
software being able to provide clinical data to patients and doctors in
real-time. Services, on the other hand, can aim to grow at a steady pace by the
end of the forecast period due to constant maintenance and upgradation of CVIS
to ensure a smooth workflow in clinics and hospitals.
By deployment,
web/cloud-based held the largest market share in 2017, while the on-premise
segment held second largest share. The web/cloud-based CVIS is projected grow
at fastest CAGR during the forecast period due to low capital investment and
scalability of operations. In addition, the ease it provides in reporting information
and causing minimal clinical efficiencies can lead to its adoption. On the
other hand, on-premise segment accounted for the least market share due to high
expenses in maintaining servers, software, and hardware.
Among applications,
cardiac and peripheral catheterization held 32.4% share in 2017, followed by
echocardiography, hemodynamics monitoring, electrophysiology, vascular
ultrasound, nuclear cardiology, ECG/stress/Holter management, and others.
Cardiac and peripheral catheterization can increase its market share by the end
of the forecast period due to its extensive use in early diagnosis and
treatment of congenital disorders. On the other hand, echocardiography is
predicted to attain second largest share, this can be attributed to its utilization
in detecting abnormal heart valves and other heart defects.
Hospitals & clinics
was the biggest market end-user in 2017 with a respectable 48.2% share,
followed by diagnostic laboratories, cardiac cath labs, and others. Hospitals
& clinics can reach a value of USD 640 million by 2025 due to adoption of
advanced diagnostic systems for treating CVDs. Diagnostic laboratories
generated second largest share for the cardiovascular information system (CVIS)
market by 2025. This can be credited to demand by patients for rapid diagnosis
solutions.
Competitive
Analysis
Key vendors in the
cardiovascular information system (CVIS) market include Carestream Health
(U.S.), Scimage, Inc. (U.S.), Koninklijke Philips N.V. (The Netherlands),
Cerner Corporation (U.S.), Epic Systems Corporation (U.S.), Digisonics Inc.
(U.S.), Fujifilm Holdings Corporation (Japan), LUMEDX (China), Agfa-Gevaert
N.V. (Belgium), IBM Health (U.S.), General Electric Company (U.S.), McKesson
Corporation (U.S.), and Siemens Healthineers (Germany).
Regional Analysis
Region-wise, the
cardiovascular information system (CVIS) market covers the upcoming trends in
Europe, Asia Pacific (APAC), Americas, and the Middle East & Africa (MEA).
The Americas accounted for 37.6% market share in 2017, followed by Europe,
APAC, and MEA.
The Americas CVIS market
is expected to reach a valuation of USD 481.04 million by 2025. This can be
attributed to sophisticated healthcare infrastructure and adoption of latest
systems for streamlining workflow in hospitals. The use of mHealth and big data
for detecting CVDs at a preventive stage by clinicians is projected to augur
well for the market.
Europe, on the other hand,
is predicted to grow at a steady pace due to increased funding by governments
and private organizations to improve treatment facilities in cardiology
departments in hospitals. Moreover, digitization of patient data is expected to
be a positive indicator for the growth of the market.
Browse Complete
Report Details @
https://www.marketresearchfuture.com/reports/cardiovascular-information-system-market-7721
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