As per the latest report by IMARC Group, titled “Cardiovascular Information System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global cardiovascular information system market size reached US$ 876.2 Million in 2019. Cardiovascular information system (CVIS) allows easy report generation and distribution and offers on-time access to cardiovascular electronic medical records (EMR) in images, reports and waveforms. It also facilitates scientific advancements, information exchange and decision support in the field of cardiovascular study. It endorses an advanced level of evidence-based professional standards in cardiac rehabilitation. At present, its demand is increasing across the globe on account of dynamic reporting, such as measurements, images and informatics, provided by CVIS. This information is further structured in a template-type manner to ensure reliability and effectiveness in delivering patient reports.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Cardiovascular Information System Market Trends:
According to the World Health Organization (WHO), cardiovascular diseases (CVDs) represent one of the major causes of death globally. This can be accredited to sedentary lifestyles, rising geriatric population and the increasing prevalence of CVDs, which in turn, is positively influencing the demand for CVIS around the world. Apart from this, digitization, coupled with continuous advancements in the healthcare information technology (IT) sector, are also fueling the growth of the market. Healthcare institutions rely on CVIS to access medical data and images remotely and improve the efficiency and interoperability of diagnostic centers. Furthermore, most of the CVIS solutions provide structured reporting for all cardiology-related procedures/modalities, which is positively influencing their sales. Besides this, technological advancements, the escalating demand for data-driven technologies and extensive research and development (R&D) activities are anticipated to strengthen the market growth in the upcoming years. Looking forward, the market value is projected to reach US$ 1,285 Million by 2025, expanding at a CAGR of 6.60% during the forecast period (2020-2025).
- Based on the type, the market has been bifurcated into the cardiovascular information system (CVIS) and cardiology picture archiving and communication system (C-PACS).
- On the basis of the component, the market has been segmented into software, hardware and services.
- The market has been analyzed on the basis of the mode of operation into web-based, onsite and cloud-based.
- Based on the end user, the market has been divided into hospitals and clinics, cardiac Cath labs, diagnostic centers, and others.
- On the basis of the application, the market has been categorized into catheterization, echocardiography, electrocardiogram, nuclear cardiology and others.
- Region-wise, the market has been segmented into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others); Europe (the United Kingdom, Germany, France, Italy, Spain, Russia and others); Latin America (Brazil, Mexico and others); and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being Agfa Healthcare India Private Limited, Cerner Corporation, Digisonics Inc., Fujifilm Medical Systems, GE Healthcare, LUMEDX Corporation, McKesson Corporation, Merge Healthcare, Inc., Koninklijke Philips N.V. and Siemens Healthineers AG.
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