Enjoy complimentary customisation on priority with our Enterprise License!
The Cardiovascular Information System (CVIS) Market size is estimated to grow by USD 582.77 million at a CAGR of 8.8% between 2022 and 2027.
There is an increasing incidence of heart disease across developing countries which, in turn, is increasing the volume of treatment procedures that include disease diagnosis and cardiac surgeries. As per the National Institutes of Health (NIH), in 2020, degenerative abnormalities related to severe aortic stenosis and mitral and tricuspid regurgitation were found to be present in nearly 10% of the population aged 75 years and above. Thus, factors such as the expansion of the geriatric population in both developed as well as developing countries increase the cases of heart disease and associated cardiovascular treatment methods. Furthermore, the increasing prevalence of heart valve diseases including coronary heart disease (CHD), aortic stenosis, and mitral heart valve diseases is expected to fuel the demand for heart disease treatment devices, such as cardiovascular medical devices. Hence, such factors are positively impacting the market.
To learn more about this report, Request Free Sample
This report provides a detailed analysis of the market by Type (CVIS and C-PACS ), Deployment (Web-based and Onsite ), and Geography (North America, Europe, Asia, and Rest of World (ROW)).
The CVIS segment is estimated to witness significant growth during the forecast period. One of the main advancements in modern healthcare is the CVIC segment which plays a major role in the efficient management of multifaceted cardiovascular data. The main advantage of the CVIC segment is that it integrates patient records, diagnostic reports, test results, images, and clinical data into a unified digital platform.
Get a glance at the market contribution of various segments View a PDF Sample
The CVIS segment was the largest segment and was valued at USD 610.42 million in 2017. Additionally, CVIC enables optimization of workflows within cardiology departments by allowing seamless communication and collaboration among medical professionals, thereby improving the accuracy and effectiveness of patient care. Additionally, this solution is used to streamline different processes ranging from initial diagnosis to treatment planning and post-treatment monitoring. Therefore, CVIS segment empowers healthcare providers to make informed decisions promptly by centralizing data and enabling secure access. Furthermore, the interoperability of the system ensures smooth integration with EHR systems and other healthcare technologies thereby reducing data duplication and improving data accuracy. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
The advent of web-based CVIS solutions has revolutionized the management of cardiovascular medical information. This web-based solution is mainly hosted on a remote cloud which allows healthcare professionals to access patient data and diagnostic information from anywhere with an internet connection. Therefore, it leads to better collaboration between medical teams, resulting in more informed and timely decisions in patient care. The main advantage of the web-based CVIS segment is that it provides scalability, effortlessly accommodating expanding data volumes and user demands. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
For more insights about the market share of various regions View PDF Sample now!
North America is estimated to contribute 37% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. One of the main factors in the increasing adoption and growth of CVIS technologies in North America is the growing focus on advanced medical solutions and well-established healthcare infrastructure. Some of the leading countries in North America that are at the forefront of encouraging innovative healthcare tools, making CVIS a major component of the overall healthcare ecosystem include Canada and the US.
Additionally, factors such as the increasing prevalence of cardiovascular diseases are fuelling the market growth in North America. There is an increasing prevalence of cardiovascular disease across different countries in North America, especially heart diseases with the most common type being coronary heart disease or ischemic disease being the major cause of heart failure. Hence, such factors are expected to drive the market growth in the region during the forecast period.
The market is experiencing significant growth driven by the increasing prevalence of cardiovascular diseases among the geriatric population. Advanced systems for storing vast volumes of data and images facilitate efficient data storage, retrieval, and upkeep of patient history records. Integration with Electronic Health Record (EHR) systems streamlines clinical data management, benefiting physicians, nurses, and chemists. Telemedicine and web-based solutions like Cardiology Picture Archiving and Communication System (CPACS) enhance accessibility. Providers like ScImage and Fysicon, with their QMAPP Hemodynamics solutions, are expanding their footprint in enterprise imaging, contributing to market expansion. The convergence of software, hardware, and services is reshaping the cardiovascular devices industry.
There are multiple factors influencing market growth. Our researchers analyzed the data with 2022 as the base year, along with the key trends, and challenges.
A key factor shaping the cardiovascular information system market growth is the increasing adoption of remote patient monitoring (RPM). The market has been transformed by remote patient monitoring (RPM), revolutionizing cardiovascular care delivery. RPM utilizes advanced technology to remotely monitor patients' cardiovascular health, allowing healthcare providers to track vital data such as heart rate, blood pressure, and electrocardiogram (ECG) readings without patients needing to be physically present. The growing demand for telehealth solutions, driven by technological advancements and the necessity for effective care while minimizing in-person contact, particularly during public health crises, further propels this trend. RPM seamlessly integrates with CVIS platforms, enabling real-time collection, transmission, and analysis of cardiovascular data. These factors positively influence market growth, anticipated to continue during the forecast period.
Data security concerns related to CVIS are one of the key challenges hindering market growth. The CVIS collects and stores various sensitive patient information such as medical records, diagnostic images, and treatment plans. As a result, it has become essential to ensure the security and privacy of this data. Moreover, several healthcare organizations have to adhere to strict guidelines such as the Health Insurance Portability and Accountability Act (HIPAA) in the United States and similar laws in other countries, which makes it mandatory the protection of patient data.
Therefore, any data breaches or cyber security attacks will hamper the reputation of healthcare providers. Hence, such factors are negatively impacting the market. Therefore it is expected to hinder the market growth during the forecast period.
Buy Now Full Report and Discover More
The market growth analysis report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market forecasting report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about 17 market companies, including:
Abbott Laboratories: The company offers cardiovascular information systems such as Merlin.net Patient Care Network, myMerlinPulse Mobile App, and myMerlin Mobile App.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market continues to surge with advancements in software and hardware, catering to the needs of the cardiovascular devices industry. Clinical researchers, physicians, nurses, and chemists benefit from its convenience, especially with features like Cardiology Picture Archiving and Communication System (CPACS) and Electronic Health Record (EHR) integration. Telemedicine and web-based operations enhance accessibility while ensuring data protection and backup. These systems efficiently handle vast volumes of data, aiding in data retrieval and the upkeep of patient history records. With advanced EHR systems, older people receive better care, contributing to market expansion. Additionally, interoperability, integration, and lower costs are driving factors in the adoption of CVIS, especially with the emergence of cloud-based solutions and the integration of various cardiovascular specialties like cardiac catheterization and electrophysiology.
Moreover, the CVIS market witnesses a growing emphasis on advanced systems for storing vast volumes of data and images, crucial for managing patients' information in cardiovascular disease cases. The integration of Electronic Health Record (EHR) systems ensures seamless interoperability and data storage across the healthcare sector. Providers like ScImage and Fysicon, with their QMAPP Hemodynamics solutions, are reshaping the landscape, offering enterprise imaging capabilities and expanding their hemodynamics footprint. As the industry embraces digitalization, services like cloud-based delivery modes gain traction, providing scalability and security against healthcare data breaches. With sensitive data at stake, CVIS market trends indicate a robust, fueled by the adoption of cardiovascular information systems and the continuous evolution of healthcare technology businesses to meet the demands of a data-driven era.
The market growth and forecasting report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Cardiovascular Information System Market Scope |
|
Report Coverage |
Details |
Page number |
153 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.8% |
Market growth 2023-2027 |
USD 5,82.77 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
8.64 |
Regional analysis |
North America, Europe, Asia, and the Rest of the World (ROW) |
Performing market contribution |
North America at 37% |
Key countries |
US, Canada, Mexico, Germany, and China |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Abbott Laboratories, Agfa Gevaert NV, Beijing Strong Guanyu Technology Development Co. Ltd., Central Data Networks Pty Ltd, Esaote Spa, FUJIFILM Corp., General Electric Co., INFINITT Healthcare, Intelerad Medical Systems Inc., Koninklijke Philips N.V., Merative L.P., Optum Inc., Oracle Corp., RioMed Ltd, Shimadzu Corp., Siemens AG, and SOFTLINK INTERNATIONAL PVT. LTD. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
View Sample PDF at your Fingertips
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Deployment
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.