About Cardiology Information System
A cardiovascular information system (CVIS) is a digitized collection of software architectures for research materials and clinical information. It facilitates decision support, scientific progress, information exchange, and decision support in the field of cardiovascular studies. In cardiac rehabilitation, CVIS aims to support the advanced level of evidence-based professional standards. According to the American Heart Association's 2019 report, heart conditions such as coronary artery disease, high blood pressure, and stroke have been ranked as the leading cause of death in the United States. Due to the rise in government initiatives and the increased demand for assessment and monitoring of cardiovascular functions over a period of time in order to avoid medication errors that require the electronic health record system, this should fuel the market in the forecast period. The demand for cardiovascular information systems has accelerated due to the dynamic reporting such as measurements, images, and computing that they provide. This information is structured in a template-specific manner to ensure the reliability and effectiveness of the submission of patient reports. To measure the effectiveness of the technology and the factors driving its demand, the report segments the global Cardiovascular Information Systems Market by application, a unit of provider, and geography. It contains an in-depth analysis of the factors influencing the market development in the various segments. It also studies the impact of Porter's Five Forces on the global Cardiovascular Information Systems market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | North America |
Unit | Value (USD Million) |
CAGR | 8.3% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that European Players will contribute the maximum growth to Global Cardiology Information System market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Philips Healthcare (Netherlands), McKesson Corporation (United States), GE Healthcare (United Kingdom), Esaote SpA (Italy), Siemens Healthcare (Germany), Merge Healthcare (United States), Lumedx (United States), Agfa Healthcare (Belgium), Fujifilm Medical Systems (Japan) and Digisonics (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Infinitt Healthcare Co Ltd (South Korea), Cerner Corporation (United States) and Central Data Networks PTY Ltd (Australia).
Segmentation Overview
AMA Research has segmented the market of Global Cardiology Information System market by Type (CVIS and C-PACS), Application (Catheterization Lab CVIS Solutions, Echocardiography Lab CVIS Solutions, Electrophysiology Lab CVIS Solutions, Nuclear Cardiology CVIS Solutions, Cardiothoracic Center CVIS Solutions, ECG Studies/Holter monitoring CVIS Solutions, Pacemaker/ICD Lab CVIS Solutions, Heart Failure Centers CVIS Solutions, Outpatient Clinics CVIS Solutions and Other) and Region.
On the basis of geography, the market of Cardiology Information System has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Asia Pacific region held largest market share in the year 2023. If we see Market by Components, the sub-segment i.e. Software will boost the Cardiology Information System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End Users, the sub-segment i.e. Hospitals will boost the Cardiology Information System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Mode of Operation, the sub-segment i.e. Web-Based will boost the Cardiology Information System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The Growing Demand For Productive Data Management Tools in the Cardiology Departments, Rising Pressure to Curb Growing Medical Error Rates and Growing Need to Integrate CVIS with CPACS/EMR and Other Cardiology Modules
Market Growth Drivers:
A Rise in Global Prevalence of Cardiac Diseases, Increased Stroke-Related Deaths, High Purchasing Power of Large Hospitals and Rapid Adoption of Integrated Systems by Healthcare Providers
Challenges:
The Reluctance of Healthcare Providers to Implement CIS Due To Lack of Standard Protocol
Restraints:
The High Cost of Systems and Stringent Regulatory Framework
Opportunities:
Growing R&D Activities to Develop Novel Technologies in Cardiac Stroke Management and Government Initiatives towards the Adoption of Electronic Health Record (EHR) Systems
Market Leaders and their expansionary development strategies
On 19th January 2021, An agreement to acquire Capsule Technologies, Inc., a top supplier of medical device integration and data technologies for hospitals and healthcare organizations, was announced by Royal Philips, a world leader in health technology. Almost all current medical devices and EMRs in hospitals are connected by Capsule's Medical Device Information Platform, which includes device integration, vital sign monitoring, and clinical surveillance services. The platform from Capsule captures real-time clinical data and converts it into useful information for patient care management to improve patient outcomes, foster better teamwork among care providers, and boost productivity.
On 9th August 2021, Two new Philips HealthSuite solutions that are safe, cloud-based, and designed to remove barriers in patient care in a scalable, economical model were just released, according to Royal Philips, a world leader in health technology. The Philips Patient Flow Capacity Suite and the Philips Acute Care Telehealth are two essential HealthSuite solutions that Philips will present and introduce at HIMSS21. These solutions enable health systems to integrate informatics applications that can be combined and scaled up or down in response to changing needs. Through a connected, safe, future-ready, and cost-predictive single cloud infrastructure and Software-as-a-Service (SaaS) model, Philips HealthSuite solutions assist health systems in achieving the quadruple aim.
All areas of medicine undergo routine updates to their clinical guidelines. Organizations like the American College of Cardiology and the American Heart Association update clinical recommendations almost annually in the field of cardiology. Clinicians, however, have a problem with this. It takes time and effort to manually update clinical guidelines in dated cardiovascular information management systems (CVIS). Although structured reporting is important in today's cardiology departments, the data contained in such reports might not be pertinent if they don't follow the most recent clinical recommendations.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Providers of Cardiology Information System, Venture Capitalists and Private Equity Firms and End-Use Industry
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.