Cardiovascular Information System (CVIS) Market by Type, Deployment and Geography - Forecast and Analysis 2023-2027

Cardiovascular Information System (CVIS) Market Report 2023-2027

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.

What will be the size of the Market During the Forecast Period?

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Market Segmentation 

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)).

Type Analysis 

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.

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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.

Deployment Analysis 

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.

Regional Analysis

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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.

Market Dynamics and Customer Landscape

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. 

Significant Market Trends

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.

Major Market Challenges

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.

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Customer Landscape

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

Key Cardiovascular Information System Market Players 

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.

• 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
• SOFTLINK INTERNATIONAL PVT. LTD.

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.

Market Analyst Overview

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.

Segment Overview

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. 

• Type Outlook 
  • CVIS
  • C-PACS
• Deployment Outlook 
  • Web-based
  • Onsite
• Geography Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia
    • China
    • India
  • ROW
    • Australia
    • Argentina
    • Brazil

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.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the cardiovascular information system market between 2023 and 2027
• Precise estimation of the cardiovascular information system market size and its contribution to the market in focus on the parent market
• Detailed analysis of customer landscape covering Diver of price sensitivity, Adoption of the lifecycle, and key purchase criteria 
• Companies landscape comparing criticality of inputs and factors of differentiation
• Exclusive Matrix on companies' position and classification
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across North America, Europe, Asia, and the Rest of the World (ROW)
• A thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of cardiovascular information system market companies

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