Cardiovascular Information System Market to Grow with a CAGR of 9.10% through 2028
The integration of telemedicine, regulatory
initiatives, and the integration of artificial intelligence is expected to
drive the Global Cardiovascular Information System Market growth in the
forecast period, 2024-2028.
According to TechSci Research report, “Cardiovascular
Information System Market – Global Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028”, the Global Cardiovascular
Information System Market stood at USD 0.98 billion in 2022 and is anticipated
to grow with a CAGR of 9.10% in the forecast period, 2024-2028. This can be
attributed to regulatory initiatives and incentives. Government initiatives and
incentives aimed at encouraging the adoption of healthcare information
technology have played a substantial role in CVIS market growth. In some
regions, regulations require healthcare institutions to maintain electronic
health records and share patient data digitally. Compliance with these
regulations necessitates the implementation of CVIS solutions, boosting market
demand.
Furthermore, as concerns over data security and
patient privacy grow, blockchain technology is emerging as a potential
solution. Blockchain provides a secure and transparent way to store and share
patient data. By implementing blockchain into CVIS systems, healthcare
providers can ensure that patient information is protected against data
breaches and unauthorized access.
The growing complexity of challenges in cardiovascular
care, which encompasses tasks such as managing extensive data, retrieving data,
and maintaining comprehensive patient history records, has generated a demand
for advanced solutions like Electronic Health Records (EHR). EHR systems play a
crucial role in enabling efficient data analysis. The rapid expansion of the
global cardiovascular devices industry can be primarily attributed to the
increasing global prevalence of cardiovascular diseases and related disorders,
along with a rising need for efficient data management tools in cardiac care
departments.
A cardiovascular information system operates as a
software-based platform for collecting clinical data, designed to meet the
requirements of clinical researchers, physicians, nurses, and chemists. These
systems offer a range of features that support the management of clinical
workflows and data integration, making them highly suitable for utilization.
The introduction of technologically advanced products and the growing trend of
telemedicine are expected to drive market growth. When combined with other technologies,
such as Cardiology Picture Archiving and Communication Systems (CPACS), the
utility of CVIS is further enhanced. The market is anticipated to experience
swift growth due to factors like high adoption rates and increasing awareness
regarding the availability of these systems.
Furthermore, the rising incidence of cardiovascular
diseases resulting from fast-paced lifestyles and stress-related concerns is
expected to drive the demand for cardiovascular information systems. Globally,
cardiovascular diseases constitute the majority of all fatalities. According to
a 2019 World Health Organization (WHO) report, cardiovascular diseases were
responsible for 17.9 million deaths, accounting for 32% of all global
fatalities. In 85% of these cases, heart attacks or strokes were the primary causes
of death. More than four out of five cardiovascular disease-related deaths are
attributed to heart attacks and strokes, with one-third of these fatalities
occurring in individuals under the age of 70.
Detecting cardiovascular issues at an early stage is
crucial to initiate prompt treatment and medication, which in turn amplifies
the demand for cardiovascular information systems. These systems enhance the
efficiency of software and patient record management, surpassing the
capabilities of traditional methods for storing and processing cardiac patient
data, thus making their demand even more substantial.
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The Global Cardiovascular Information System Market is
segmented into mode of operation, system, regional distribution, and company.
Based on its mode of operation, the web-based segment was the leading
source of revenue in 2022. This is attributed to the fact that web-based
operations do not necessitate local program installations, making them easily
accessible. Healthcare professionals working remotely or in various locations
can conveniently access and utilize the CVIS platform using their credentials.
Data security and backup are ensured through the storage of data on secure
servers.
The cloud-based sector is projected to
experience the most rapid CAGR during the forecast period, primarily owing to
its cost-efficiency and ease of use. Cloud-based cardiovascular information
systems enable healthcare practitioners to access patient data at any time and
from any location, and this high demand is predicted to drive growth within
this segment.
Based on system, the CVIS segment dominated the
revenue share and is anticipated to exhibit the most rapid Compound Annual
Growth Rate (CAGR) throughout the forecast period. CVIS systems offer effective
data analysis, enabling healthcare professionals to make quicker and more
accurate treatment decisions compared to CPACS systems. This has led to a
higher adoption of CVIS, contributing significantly to its growth. The market
is categorized into two system types: cardiovascular information system (CVIS)
and cardiology picture archiving and communication system (CPACS).
Major companies operating in Global Cardiovascular
Information System Market are:
- Philips Healthcare Ltd
- GE Healthcare Inc
- Cisco Systems Inc
- FUJIFILM Medical Systems USA Inc
- Siemens Healthcare GmbH
- Cerner Corp
- Lumedx Corp
- Digisonics Inc
- Honeywell International Inc
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“The Global Cardiovascular Information System market
is at the forefront of innovation, driven by the convergence of technology,
patient needs, and the complex challenges posed by cardiovascular diseases. The
upcoming trends in the CVIS market are poised to reshape the way cardiovascular
healthcare is delivered. With AI, telemedicine, interoperability solutions,
cloud-based systems, personalized medicine, mHealth integration, blockchain,
and VR/AR on the horizon, the future of cardiovascular care promises more
efficient, accessible, and patient-centric solutions. As these trends continue
to unfold, the CVIS market will remain a pivotal force in improving patient
outcomes and addressing the ever-growing global burden of cardiovascular
diseases,” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Cardiovascular Information System Market By Mode
of Operation (Web based, Cloud based, On site), By System (CVIS, CPACS), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of Global Cardiovascular Information System Market
and provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Cardiovascular Information System Market.
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