Cardiovascular Information System (CVIS) Market Research Report - Forecast till 2027

Cardiovascular Information System Market Research Report: by Component (Hardware, Software, Services), by Delivery Mode (Cloud-based/Web-based, On-premise), by Application (Cardiac &Peripheral Catheterization, Hemodynamic Monitoring, Electrophysiology, Echocardiography, Vascular Ultrasound, ECG/Stress/Holter Management, Nuclear Cardiology), by End User (Pharmaceutical & Biotechnology Companies, Research & Academic Centers) - Forecast Till 2027

ID: MRFR/HC/6252-CR | August 2021 | Region: Global | 137 pages

Cardiovascular Information System Market

Cardiovascular information system market occupies a USD 1,560.93 million, at a CAGR of 8.23% during the forecast period

Segmentation

By Component Hardware Software Services
By Delivery Mode Cloud-based/Web-based On-premise
By Application Cardiac &Peripheral Catheterization Hemodynamic Monitoring Electrophysiology Echocardiography Vascular Ultrasound ECG/Stress/Holter Management Nuclear Cardiology
by End User Pharmaceutical & Biotechnology Companies Research & Academic Centers

Key Players

  • GE
  • Koninklijke Philips N.V.
  • McKesson Corporation
  • Siemens Healthineers
  • IBM Watson Health
  • Fujifilm Holdings Corporation
  • Cerner Corporation

Drivers

  • rise in the need to unite CVIS with CPAS/EMR
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Cardiovascular Information System Market


Globally it has been noted that the cardiovascular information system market occupies a USD 1,560.93 million during the forecast period of 2020 to 2027. It has been marked that the cardiovascular information system market projects at a CAGR of 8.23%. All over the world, it has been found that due to cardiovascular disease many people have died due to heart-related diseases.


COVID 19 ANALYSIS 


The outbreak of COVID has affected the cardiovascular market. Economic disruption in the cardiovascular market was marked. COVID affected the manufacturing unit where the production of certain devices was stopped. This outbreak marked a huge change in consumer behavior and the supply chain was disrupted. Along with financial losses the cardiovascular industry also experienced labor loss. Due to improvement of lockdown certain change in market trends was marked.


The government took certain steps like he made the wearing of masks and the use of sanitizers a compulsory part of life. Anyone marked violating it was punished. 


MARKET DYNAMICS



  • Drivers- driving factors such as the rise in the need to unite CVIS with CPAS/EMR and other modules related to cardiology increase the cardiovascular information system market size. Driving factors such as interoperability, accessing the remote images and data and minimizing the workload of the IT sector from web-based in hospital is helping in expanding the cardiovascular information system market size. The adoption of CVIS integrated solutions due to its large buying power of popular hospitals and clinics increases the size of the cardiovascular information system market in this end-user categorization.

  • Opportunities- adopting the electrical medical record by the fundings of the government is providing wider opportunities for expansion of  cardiovascular information system market size. The market offers an opportunity of more USD ranging from 45 million to 600 million during the market forecast period. The development of technically advanced products and the rise in the growth of telemedicine bolsters up the cardiovascular information system market growth.

  • Challenges- managing a large amount of data and its retrieval and along with it, maintaining the patient’s record becomes the most Challenging factor for cardiovascular information system market growth. Another challenging factor for growth is the less adoption rates and the minimization awareness about the availability of the cardio systems.

  • Cumulative growth- growth in incidence of the disease, high growth rate of medication errors, rise in government fundings towards EHR implementation, and many more. The cardiovascular system in the Asian region provides great opportunities due to the increase in growth of the cardiovascular information system market as well as growth in medical tourism in the Asian region. The growth of healthcare costs is increasing the growth of the cardiovascular information system market. The rise in the growth of technologies also increases the growth of the market. The rise in several patients suffering from cardiovascular diseases and their related disorders accompanied by the usage of advanced tools drives the cardiovascular information system market growth

  • restraints- high expenses of the cardiac devices and their procedures is the hampering factor for the cardiovascular information system market growth. Unavailability of trained and skilled professionals for carrying the procedures and handling the devices act as a restraining factor for growth. Showing interest in shifting from traditional data storage tools to the adoption of advanced techniques act as a hindering factor for the expansion of cardiovascular information system market size.


MARKET SEGMENTATION



  • By type- based on type, the cardiovascular information system market is divided into CVIS and C-PACS. The CVIS division occupies a large market share during the forecast period of 2015 to 2020. The CVIS section analyses the data well and enables the surgeons to carry out the right decision in very little time. Based on segments, the market is divided into software, service, and hardware. The service division is expected to grow at a high CAGR during the forecast period. The software division covers a large area of market share. As per the mode of operation, it has been marked that market administrator has segmented the market based on web-based, on-site, and cloud-based. The cloud-based projects at a CAGR of 9.4% during the first period of market forecast year i. E 2015 whereas the web-based part occupies a dominant share of high CAGR during the forecast period. As per the end-user, the Market administrator has divided the market into hospitals and other diagnostic centers. Here in fact the hospital segment covers a large market share.

  • By technology- advancement of technology, led to the using of imaging techniques for the treatment of related disorders. Advanced technology has helped in dynamic reporting of the images in the cardiovascular information system market which has helped in delivering the reports of the patients. Technology has evolved such that it has helped in informatics, images, and measurements. The technology reduces the need for networking all workstations altogether, as they are very much experienced in transferring the data across the web. Previously it was marked that people worked in tethered workstations but now due to the use of advanced technology staff can work on any web-based electronic devices irrespective of their location. Such advancement in technology enables surgeons to work with more interest and efficiently and in a more modernized manner. Technology led to the launching of new techniques like Cardiology Picture Archiving and Communication System(CPAs).


REGIONAL ANALYSIS 


The cardiovascular information system market is expanded largely to the regions of North America coming after the European region. Geographically, it has been marked that this North American region is dominantly occupied by strict privacy and security regulations and rise in the expansion of business in the cardiovascular information sector. Globally, the North American region has a healthcare information system that has developed its partnership with vendors. Latin America is expected to be a little backward than other emerging countries but is still experiencing huge potential for cardiovascular information system market growth during the market forecast period.


COMPETITIVE LANDSCAPE 


Some of the key players are investing largely in research and other developmental projects for increasing the productivity of the existing technologies. These market players are manufacturing certain raw materials to enhance their economies. Some of them are GE, Koninklijke Philips N.V., McKesson Corporation, Siemens Healthineers, IBM Watson Health, Fujifilm Holdings Corporation, and Cerner Corporation.


RECENT DEVELOPMENTS 



  • As per the cardiovascular information system market trends, it has been marked that Phillips developed or launched its Intellispace cardiovascular information system. This developed a new and innovative way of keeping the records of the patient.


REPORT OVERVIEW 


The report provides information for various other CVIS solutions, components, modes of operation, and certain applications of the cardiovascular information system market. It analyzes the leading players operating in the market and gives a good study about the product offerings and their key strategies to put forward. The report gives customized information about the market dynamics. It gives good analyzes of the market forecast operating during this forecast period. It understands the market trends due to which it can occupy a topmost position and spend the funds more for gaining the opportunities. The report provides an in-depth assessment of the competitive benchmarking about the historical data and its company revenue shares. It gives insights into the regional opportunities and latest trends and dynamics put forward by the cardiovascular information system market.



Report Scope:
Report Attribute/Metric Details
  Market Size   2027: USD 1,560.93 Million
  CAGR   8.23% (2021-2027)
  Base Year   2020
  Forecast Period   2020-2027
  Historical Data   2018-2019
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Product, Application, and End Use
  Geographies Covered   Americas, Europe, Asia-Pacific, Middle East &Africa
  Key Vendors   General Electric Company (US), Koninklijke Philips N.V.(Netherlands), McKesson Corporation (US), Siemens Healthineers AG (Germany), Fujifilm Holdings Corporation (Japan), Cerner Corporation (US), IBM Watson Health (US), LUMEDX (US), Agfa-Gevaert N.V.(Belgium), Digisonics Inc (US)
  Key Market Opportunities   Emerging markets of CVIS
  Key Market Drivers   Increasing prevalence of cardiovascular diseases, growing government initiatives toward the implementation of the electronic health record system,technological advancement.


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Frequently Asked Questions (FAQ) :

The cardiovascular information system market is projected to grow at an 8.30% CAGR between 2020-2027.

The cardiovascular information system market is predicted to touch USD 1,343.26 million by 2025.

The Americas is expected to dominate the cardiovascular information system market.

The cardiac & peripheral catheterization segment will have the largest share in the cardiovascular information system market.

High cost may limit the cardiovascular information system market.