USD 947.12 Billion
Cardiovascular Information System Market Size, Share, Growth Analysis, By System Type(CVIS, CPACS), By Component(Software, Services, Hardware), By Mode of Operation(Web-Based CVIS, Onsite CVIS, Cloud-Based), By End User(Hospitals (Small Hospitals, Medium-Sized Hospitals, Large Hospitals), Diagnostic Centers), By Application(Catheterization Lab CVIS Solutions, Echocardiography Lab CVIS Solutions, Electrophysiology Lab CVIS Solutions, Nuclear Cardiology CVIS Solutions), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2579 |
Region:
Global |
Published Date: October, 2024
Pages:
157
|Tables:
60
|Figures:
75
Cardiovascular Information System Market Insights
Cardiovascular Information System Market size was valued at USD 1021 Billion in 2022 and is poised to grow from USD 1100.63 Billion in 2023 to USD 2007.22 Billion by 2031, at a CAGR of 7.8% during the forecast period (2024-2031).
A surge in the prevalence of cardiovascular disorders around the world is projected to primarily augment the sales of cardiovascular information systems (CVIS) in the future. Growing emphasis on improving efficiency in healthcare business operations and advancements in cardiac monitoring and diagnostics technologies are also expected to drive cardiovascular information system market growth in the future. Rising use of remote monitoring and telemedicine practices in the healthcare space is also estimated to create new opportunities for cardiovascular information system providers in the long run. High adoption of electronic health records (EHRs) is also forecasted to play a crucial role in promoting the use of cardiovascular information systems to integrate cardiovascular-specific data within EHR systems. Expansion of senescent population base around the world will also play a significant role in promoting the demand for cardiovascular information systems across the study period. However, lack of skilled professionals to manage cardiovascular information system, limited awareness in emerging markets, and interoperability issues with existing systems are some key restraints that could trouble cardiovascular information system suppliers in the long run.
US Cardiovascular Information System Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Web-based
Fastest Growth
Web-based
Growth Rate
7.8% CAGR
Global Cardiovascular Information System Market ($ Bn)
Country Share for North America Region (%)
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Cardiovascular Information System Market Segmental Analysis
Global Cardiovascular Information System Market is segmented by System Type, Component, Mode of Operation, End User, Application, and region. Based on System Type, the market is segmented into CVIS, and CPACS Market. Based on Component, the market is segmented into Software, Services, and Hardware. Based on Mode of Operation, the market is segmented into Web-Based CVIS, Onsite CVIS, and Cloud-Based. Based on End User, the market is segmented into Hospitals, Diagnostic Center. Based on Application, the market is segmented into Catheterization Lab CVIS Solutions, Echocardiography Lab CVIS Solutions, Electrophysiology Lab CVIS Solutions, Nuclear Cardiology CVIS Solutions, Cardiothoracic Center CVIS Solutions, ECG/Holter Monitoring CVIS Solutions, Pacemaker/ICD Lab CVIS Solutions, Heart Failure Center CVIS Solutions, Outpatient Clinic CVIS Solutions, and Other Applications. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Cardiovascular Information System Market Analysis by Mode of Operation
Web-based CVIS is forecasted to account for a significant chunk of the global cardiovascular information system market share. Easy integration, no high upfront infrastructure or deployment costs, and high accessibility are some key benefits that are forecasted to help this segment lead revenue generation for all cardiovascular information system companies going forward. Growing demand for remote healthcare operations and increasing popularity of outsourcing in the healthcare industry will also create new business scope for cardiovascular information system providers focusing on this segment in the future. Small and medium healthcare providers are expected to lead the demand for web-based cardiovascular information systems in the long run.
On the other hand, the demand for cloud-based CVIS is forecasted to rise at a rapid CAGR over the coming years. Growing advancements in cloud technologies and their increasing adoption by multiple healthcare organizations are slated to create an opportune setting for providers of cloud-based cardiovascular information systems through 2031. Availability of subscription-based payment and high flexibility and scalability are also forecasted to create new business scope for cardiovascular information system companies targeting this segment in the future. However, the increasing risk of cyberattacks and data breaches in cloud platforms is expected to hurt the market share of this segment to a certain extent in the future.
Cardiovascular Information System Market Analysis by End User
Hospitals are predicted to account for a major share of the global cardiovascular information system market outlook in the future. The growing number of cardiovascular treatment procedures being performed in hospitals and the high adoption of electronic health records are expected to help this segment maintain its dominance going forward. Increasing investments in hospital infrastructure development and the growing hospitalization of people for cardiac diseases are also estimated to favor the sales of cardiovascular information system in hospitals over the coming years. Hospitals in developed countries will be prime adopters of cardiovascular information systems across the study period and beyond.
Meanwhile, the demand for cardiovascular information systems in diagnostic centers is slated to increase at a notable pace in the future. Cardiovascular information systems can help diagnostic centers improve their diagnostic capabilities and consolidate patient data to help in proper diagnosis of disease and also create proper treatment plans as well. Easy access to patient data by using cardiovascular information system in diagnostic centers can reduce wait times for patients and also facilitate better sharing of patient data with all healthcare professionals involved. Growing number of diagnostic centers for cardiovascular disease diagnosis around the world will also promote growth in the cardiovascular information system industry via this segment going forward.
Global Cardiovascular Information System Market By Mode of Operation
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Cardiovascular Information System Market Regional Insights
North America is projected to account for a dominant share of the global cardiovascular information system market forecast. High incidence of cardiovascular disorders, presence of a developed healthcare infrastructure, and rapid adoption of advanced healthcare technologies are key factors helping the dominance of this region. The United States is slated to emerge as the leading market for cardiovascular information system companies operating in this region owing to the presence of a massive geriatric population base in the country. Moreover, the presence of leading cardiovascular information system companies is also expected to help this region hold sway over others going forward.
Asia Pacific is estimated to emerge as the fastest expanding market for cardiovascular information system companies around the world. Rising adoption of electronic health records, increasing investments in healthcare infrastructure development, and high demand for better healthcare delivery are some key factors promoting sales of cardiovascular information system in this region. India, China, and Japan are estimated to be the leading markets for cardiovascular information system companies looking to make a mark in the Asia Pacific region. Growing healthcare expenditure and rising use of remote monitoring will also present new opportunities for cardiovascular information system companies in the long run.
Global Cardiovascular Information System Market By Region
- Largest
- Fastest
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Cardiovascular Information System Market Dynamics
Cardiovascular Information System Market Drivers
High Adoption of Electronic Health Records
- The wave of digitization has also reached the healthcare industry, and this has led to high adoption of electronic health records (EHRs) in almost all healthcare institutions. Cardiovascular information systems play a crucial role in integrating cardiovascular-specific data with EHR systems to provide interoperable, streamlined systems to manage cardiovascular disease diagnosis and treatment thereby benefiting market development.
High Incidence of Cardiovascular Disorders
- High adoption of sedentary lifestyles coupled with unhealthy eating habits has resulted in a major upsurge in prevalence of cardiovascular disorders around the world. This increase in cardiovascular disorders has also led to a hike in demand for better treatment and management in healthcare institutions, thereby driving the demand for cardiovascular information systems.
Restraints
Dearth of Skilled Professionals
- Use and management of cardiovascular information system requires professionals that are skilled not just in cardiovascular diseases but also in information technology (IT). The world is facing a shortage of skilled workforce, and this trend is also expected to impede the adoption of cardiovascular information systems in the long run.
Limited Awareness in Emerging Markets
- Awareness regarding the benefits of cardiovascular information system use is quite limited in emerging countries owing to the lack of a developed healthcare infrastructure. Limited spending potential and high emphasis on providing basic healthcare are also limiting the adoption of cardiovascular information system in emerging countries thereby slowing down market development potential as well.
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Cardiovascular Information System Market Competitive Landscape
Cardiovascular information system companies should focus on launching new offerings to cater to the evolving demands of the healthcare industry. Providing training to individuals and making them skilled to operate cardiovascular information systems will also be a key strategy to focus on going forward. Creating awareness regarding the benefits of cardiovascular information system in emerging countries will also help market players expand their business scope and revenue generation in the future.
Cardiovascular Information System Market Top Player’s Company Profile
- Philips Healthcare (Netherlands)
- McKesson Corporation (US)
- GE Healthcare (US)
- Siemens Healthcare (Germany)
- AGFA Healthcare (Belgium)
- Lumedx (US)
- Digisonics (US)
- Fujifilm Medical Systems (Japan)
- Meditech (US)
- CardioComm Solutions, Inc. (Canada)
- Medtronic plc (Ireland)
- AliveCor, Inc. (US)
- Hewlett Packard Enterprise (US)
- iRhythm Technologies, Inc. (US)
- BioTelemetry, Inc. (US)
- Qventus (US)
- Cardiovascular Systems, Inc. (US)
- Telerhythmics, LLC (US)
- Optum (US)
- TruHearing (US)
- Biofourmis (US)
Cardiovascular Information System Market Recent Developments
- In May 2024, GE Healthcare, a leading healthcare technology company teamed up with Daktari Africa to improve cardiac care accessibility in Kenya. Under this collaboration, the companies announced the launch of GE HealthCare’s MUSE™ NX software that will help medical professionals review patient data remotely.
- In February 2021, Lumedx, a renowned provider of cardiovascular information systems was acquired by Intelerad Medical Systems. This acquisition helped Intelerad strengthen its stance in the global cardiovascular market and also expanded its expertise in cardiovascular information system business as well.
Cardiovascular Information System Key Market Trends
- Integration of Advanced Technologies: Cardiovascular information system providers should focus on integrating advanced technologies such as artificial intelligence and machine learning to improve the capabilities of their offerings. AI-enabled cardiovascular information systems can analyze patterns in cardiovascular data, providing cardiologists with predictive insights for patient outcomes and improving diagnostic accuracy.
- Enhancement of User Interface: Cardiovascular information system companies should focus on improving their user interface and making it simpler to improve the ease of accessibility for different types of end users. A simplified interface can help medical professionals navigate complex data, access reports quickly, and manage patient records without delays to improve patient care.
Cardiovascular Information System Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, growing geriatric population and high incidence of cardiovascular disorders around the world are projected to primarily augment the demand for cardiovascular information system over the coming years. On the contrary, dearth of skilled professionals and limited awareness in emerging markets are slated to slow down the global cardiovascular information system industry in the future. North America is slated to lead the demand for cardiovascular information system owing to the presence of a developed healthcare infrastructure and key cardiovascular information system companies. Integration of advanced technologies and simplification of user interface are expected to be key cardiovascular information system market trends that companies should focus on in the long run.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 1021 Billion |
| Market size value in 2031 | USD 2007.22 Billion |
| Growth Rate | 7.8% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Cardiovascular Information System Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Cardiovascular Information System Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Cardiovascular Information System Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Cardiovascular Information System Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Cardiovascular Information System Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Cardiovascular Information System Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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