|
Forecast
Period
|
2024-2028
|
|
Market
Size (2022)
|
USD
0.98 billion
|
|
CAGR
(2023-2028)
|
9.10%
|
|
Fastest
Growing Segment
|
Web-based
|
|
Largest
Market
|
North
America
|
Market Overview
Global Cardiovascular Information System Market was valued at USD 0.98 billion in 2022 and is anticipated to project impressive
growth in the forecast period with a CAGR of 9.10% through 2028. The Global
Cardiovascular Information System (CVIS) Market refers to the industry that
revolves around the development, implementation, and utilization of information
systems and technology solutions in the field of cardiovascular healthcare.
These systems are designed to streamline and improve the management of patient
data, diagnostic imaging, and clinical workflows related to heart and vascular
diseases.
Key Market Drivers
Rising Cardiovascular Disease Burden
Cardiovascular diseases, including heart conditions
and vascular ailments, continue to cast a long shadow on global public health.
These conditions are the leading cause of mortality worldwide, posing a
significant burden on healthcare systems, economies, and, most importantly, the
lives of countless individuals. In the face of this growing cardiovascular
disease burden, the Global Cardiovascular Information System (CVIS) market is
experiencing a substantial boost.
Cardiovascular diseases are a global health
epidemic, affecting people across all continents and income groups. These
conditions encompass a wide range of disorders, including coronary artery
disease, heart failure, stroke, and peripheral vascular disease. The World
Health Organization (WHO) estimates that 17.9 million people die each year due
to cardiovascular diseases, representing 32% of all global deaths. The
escalating prevalence of these diseases is the primary driver behind the
growing demand for CVIS solutions. As populations age, adopt sedentary
lifestyles, and experience an increase in risk factors such as hypertension and
diabetes, the number of cardiovascular patients is on the rise. Consequently,
healthcare systems worldwide are searching for innovative tools and
technologies to manage this influx efficiently.
CVIS platforms offer comprehensive solutions for
managing cardiovascular patient data and clinical workflows. They provide
healthcare professionals with the capability to centralize and access patient
records, diagnostic images, and other relevant information in real-time. This
facilitates faster and more accurate diagnoses, treatment decisions, and
monitoring of patient progress. The rise in cardiovascular disease cases is
placing substantial pressure on healthcare organizations to streamline their
processes. CVIS assists in reducing the administrative burden and allowing
medical staff to focus on patient care. This efficiency in clinical workflows
is pivotal in managing the growing patient population effectively.
CVIS systems not only collect and store patient
data but also enable healthcare providers to harness the power of data
analytics. Advanced data analytics tools integrated into CVIS platforms can
assist in identifying trends, at-risk patient populations, and the
effectiveness of different treatment strategies. This data-driven
decision-making process is invaluable for optimizing cardiovascular care and
outcomes.
The COVID-19 pandemic accelerated the adoption of
telemedicine in healthcare, and CVIS platforms are adapting to support this
trend. Telemedicine provides a means to remotely consult with patients, monitor
their conditions, and offer ongoing care. The rising cardiovascular disease
burden has underscored the importance of accessible and convenient care
options, especially for patients who may struggle with in-person visits.
Digitalization of Healthcare
The digital transformation of healthcare is
revolutionizing the way medical data is stored, shared, and accessed. As the
world increasingly embraces technology to enhance patient care, the Global
Cardiovascular Information System (CVIS) market is experiencing remarkable
growth.
Digital health is not merely a trend but a
fundamental shift in the healthcare landscape. It encompasses a wide range of
technologies, from electronic health records (EHRs) and telemedicine to data
analytics and healthcare information systems, like CVIS. These technologies
work in synergy to create a more streamlined, efficient, and patient-centric
healthcare ecosystem.
One of the fundamental advantages of digital
healthcare is the seamless access to patient data. EHRs, which are now
commonplace in healthcare institutions worldwide, allow healthcare providers to
access a patient's medical history, diagnostic images, test results, and
treatment plans with a few clicks. CVIS platforms further enhance this
capability by centralizing and organizing cardiovascular patient data. This
ease of access facilitates quicker, more accurate diagnoses and treatment
decisions.
Diagnostic imaging plays a pivotal role in
cardiovascular healthcare. Procedures such as echocardiograms, angiograms, and
cardiac MRI scans generate a significant volume of images that need to be
stored, analyzed, and shared. CVIS solutions integrate these diagnostic images
seamlessly into the patient's digital health record. This integration not only
enhances the convenience of patient care but also ensures that medical
professionals have a complete view of the patient's cardiovascular health.
Digitalization of healthcare offers the ability to
streamline clinical workflows. CVIS platforms provide tools to efficiently
manage patient data, reducing administrative tasks and enabling healthcare
professionals to focus on patient care. Improved clinical workflows are
crucial, especially in the context of the growing patient population with
cardiovascular conditions.
Enhanced Clinical Workflows
In the rapidly evolving landscape of healthcare,
the Global Cardiovascular Information System (CVIS) market is experiencing
unprecedented growth, with enhanced clinical workflows playing a pivotal role.
As healthcare organizations strive to improve patient care and streamline their
operations, CVIS solutions have emerged as a crucial component in achieving
these goals.
In the rapidly evolving landscape of healthcare,
the Global Cardiovascular Information System (CVIS) market is experiencing
unprecedented growth, with enhanced clinical workflows playing a pivotal role.
One of the fundamental advantages of CVIS is the
enhanced accessibility and collaboration it provides. Healthcare providers,
regardless of their location, can access the same patient information
simultaneously, leading to quicker and more informed decision-making. Enhanced
clinical workflows foster collaboration among healthcare teams, specialists,
and even patients, ensuring a more coordinated approach to patient care.
Time is of the essence in cardiovascular care, and
enhanced clinical workflows are designed to minimize delays in patient
management. CVIS solutions support medical professionals in making rapid and
accurate diagnoses by providing instant access to patient data and diagnostic
imaging. With the growing burden of cardiovascular diseases, these time-saving
capabilities are indispensable in delivering prompt and effective care.
Healthcare providers are often burdened with
administrative tasks that detract from patient care. Enhanced clinical
workflows, facilitated by CVIS platforms, can significantly reduce the
administrative burden by automating various processes. This enables healthcare
professionals to dedicate more time to direct patient care, ultimately
improving the patient experience.
Efficient clinical workflows also promote better
coordination of care. CVIS systems allow for the integration of diagnostic
imaging, test results, and patient records into a comprehensive view of the
patient's cardiovascular health. This consolidated approach ensures that all
healthcare providers involved in a patient's care are well-informed, which is
particularly crucial in managing complex cardiovascular cases.
Enhanced clinical workflows have also enabled the
integration of telemedicine, a trend that has gained significant traction,
particularly during the COVID-19 pandemic. CVIS platforms adapt to support
remote patient monitoring, allowing healthcare professionals to keep a close
eye on patients with cardiovascular issues, regardless of their physical
location. This trend has opened new avenues for patient care, especially for
those who may struggle with in-person visits.
The growing cardiovascular disease burden
necessitates healthcare systems to be future-ready. Enhanced clinical workflows
not only address the current needs of healthcare providers but also prepare
them for the challenges of tomorrow. As technology continues to advance, CVIS
platforms will evolve to incorporate the latest innovations, such as artificial
intelligence (AI) and machine learning, further optimizing patient care and
outcomes.
Advancements in Artificial Intelligence (AI)
Artificial Intelligence (AI) is making waves in the
healthcare industry, offering innovative solutions to longstanding challenges.
In particular, the Global Cardiovascular Information System (CVIS) market is
undergoing a significant transformation due to advancements in AI.
Cardiovascular diseases are a leading cause of
death globally, prompting the healthcare industry to seek more effective ways
to prevent, diagnose, and treat these conditions. AI has emerged as a
game-changer in the field, providing tools and techniques that are
revolutionizing cardiovascular care.
One of the most significant applications of AI in
CVIS is the interpretation of medical images, such as echocardiograms,
angiograms, and cardiac MRI scans. AI algorithms can analyze these images with
extraordinary precision and speed, detecting subtle anomalies that might escape
the human eye. This capability ensures earlier diagnosis and more accurate
assessments of cardiovascular conditions.
AI-driven predictive analytics is another area
where AI is making a significant impact. CVIS platforms can utilize AI
algorithms to assess patient data and provide predictive insights. This
includes identifying at-risk patients, predicting cardiovascular events, and
offering tailored treatment recommendations. This proactive approach enhances
patient care by preventing complications and personalizing treatments.
AI streamlines clinical workflows by automating
repetitive tasks, such as data entry and documentation. By reducing
administrative burdens, healthcare providers can allocate more time to direct
patient care, improving efficiency and patient experience.
AI's compatibility with EHRs is particularly
valuable in cardiovascular healthcare. AI can mine vast amounts of patient data
stored in EHRs, providing valuable insights and patterns that aid in clinical
decision-making. Integration with EHRs allows for a holistic view of the
patient's medical history, treatment plans, and outcomes.
AI has accelerated research and development in
cardiovascular medicine. The ability to process and analyze large datasets has
expedited the discovery of new treatments, drugs, and therapies. AI also plays
a significant role in clinical trials and studies, improving the efficiency and
accuracy of research.
Download Free Sample Report
Key Market Challenges
Interoperability Issues
Interoperability is a significant challenge within
the healthcare industry. CVIS systems need to seamlessly integrate with various
healthcare IT systems, including electronic health records (EHRs), diagnostic
imaging systems, and telemedicine platforms. Achieving seamless data exchange
between different systems and vendors can be complex, requiring the use of
standardized protocols and robust data sharing solutions.
Resistance to Change
The healthcare industry, like many others, often
encounters resistance to change. Implementing new technology and workflows can
be met with skepticism and hesitation, particularly among healthcare
professionals who are accustomed to traditional methods. Successful adoption of
CVIS requires effective training and change management strategies to ensure
that users are comfortable with the new systems and processes.
Varied Levels of Technological Adoption
The global adoption of healthcare technology is not
uniform. Some regions and healthcare facilities may have more advanced
infrastructure and technical expertise than others. Bridging the digital divide
and ensuring that CVIS solutions are accessible to a wider range of healthcare
providers is a considerable challenge. Efforts should be made to create
solutions that are scalable and adaptable to the varying levels of
technological adoption.
Key Market Trends
Cloud-Based CVIS Solutions
Cloud-based CVIS solutions are gaining traction due
to their scalability, flexibility, and cost-effectiveness. Storing
cardiovascular patient data and diagnostic images in the cloud allows for easy
access from multiple locations, enhancing collaborative care and remote
consultations. It also minimizes the need for extensive on-site hardware
infrastructure, reducing the financial burden on healthcare institutions.
Mobile Health (mHealth) Integration
Mobile health applications and devices are
increasingly integrated with CVIS systems, empowering patients to take an
active role in their cardiovascular health management. Wearable devices and
smartphone apps can collect data like heart rate, blood pressure, and activity
levels. This data can be seamlessly integrated into the CVIS, providing
healthcare providers with real-time information for more comprehensive patient
monitoring.
Virtual Reality (VR) and Augmented Reality (AR)
VR and AR technologies are making their way into
the CVIS market to enhance medical training and patient education. Medical
professionals can use these technologies for more immersive training, allowing
them to practice procedures and enhance their diagnostic skills. Patients can
benefit from VR and AR for a better understanding of their condition and
treatment options.
Segmental Insights
Mode of Operation Insights
In the cardiovascular information system market of
2022, the web-based segment was the leading source of revenue. 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 widespread adoption of web-based operation for
cardiovascular information systems on a global scale is primarily driven by a
high level of awareness and cost-effectiveness. The growth of this operational
mode in the market can be attributed to its enhanced interoperability, the
ability to access images and information from anywhere, and the overall
convenience it offers.
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.
System Insights
In 2022, the CVIS segment dominated the revenue
share and is anticipated to exhibit the most rapid 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).
CPACS used to be the previous name for CVIS, but it
has evolved over time to its current name. CVIS, short for cardio-first
information storage system, stores essential patient information, including
medical records, X-rays, and laboratory test results. Cardiologists can easily
access and evaluate patient cardiac treatment data through CVIS systems. When
CVIS is integrated with Electronic Medical Records (EMR), cardiologists can
significantly enhance patient outcomes.
Download Free Sample Report
Regional Insights
In 2022, North America took the lead in the market,
securing the highest share of revenue. The Centers for Disease Control and
Prevention reports that heart disease stands as the leading cause of death
among most racial and ethnic groups in the U.S., claiming a life every 33
seconds and causing nearly 695,000 deaths in 2021, representing one out of
every 5 fatalities. According to the National Library of Medicine, heart
failure rates within North America vary due to economic development
disparities, genetic factors, cultural practices, and shifts in risk factors
and treatment approaches. The industrialized nations of the U.S. and Canada,
sharing common culture, geography, and modern infrastructural systems, have
seen a transition from nutritional deficiencies and infectious diseases to
degenerative conditions such as cardiovascular diseases, cancer, obesity, and
diabetes, as they shift from rural to industrial areas. This transition has led
to an increase in the prevalence of heart failure, especially as life
expectancy rises.
Conversely, the Asia Pacific region is projected to
witness the most rapid CAGR during the forecast period. The region has
experienced a substantial rise in healthcare spending, resulting in increased
investments in research and development related to cardiovascular diseases due
to the growing number of patients. This has led to the emergence of new and
innovative products and technologies, driving market growth in the region.
The presence of rapidly developing economies like
India and China, where healthcare infrastructure is advancing quickly, is
expected to fuel the growth of the Asia Pacific region in the forecast period.
Additionally, the rising incidence of cardiovascular diseases in this region,
accompanied by the mounting burden of patient data records, is expected to
further contribute to market expansion.
Recent Developments
- In February 2023, the Cardiovascular Institute of
the South (CIS), an independent cardiovascular practitioner in the United
States, formed a strategic alliance with Lee Equity Partners, a New York
City-based private equity firm, to create Cardiovascular Logistics, a
nationwide cardiovascular care platform.
- in February 2021, Intelerad revealed its
acquisition of LUMEDX Corporation, a provider of cardiology information
systems. This move followed the acquisition of Digisonics, Inc., as part of
Intelerad's strategy to enhance its cardiovascular capabilities and offer
comprehensive enterprise imaging solutions.
Key Market Players
- 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
|
By Mode
of Operation
|
By System
|
By Region
|
- Web based
- Cloud based
- On site
|
|
- North
America
- Europe
- Asia-Pacific
- South
America
- Middle East
& Africa
|
Report Scope:
In this report, the Global Cardiovascular
Information System Market has been segmented into the following categories, in
addition to the industry trends which have also been detailed below:
- Cardiovascular Information System Market, By Mode of Operation:
o Web based
o Cloud based
o On site
- Cardiovascular Information System Market, By System:
o CVIS
o CPACS
- Cardiovascular Information System Market, By
Region:
o North America
§ United States
§ Canada
§ Mexico
o Europe
§ Germany
§ United Kingdom
§ France
§ Italy
§ Spain
o Asia-Pacific
§ China
§ Japan
§ India
§ Australia
§ South Korea
o South America
§ Brazil
§ Argentina
§ Colombia
o Middle East & Africa
§ South Africa
§ Saudi Arabia
§ UAE
§ Kuwait
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Global Cardiovascular
Information System Market.
Available Customizations:
Global Cardiovascular Information System market report
with the given market data, Tech Sci Research offers customizations according
to a company's specific needs. The following customization options are
available for the report:
Company Information
- Detailed analysis and profiling of additional
market players (up to five).
Global Cardiovascular Information System Market is
an upcoming report to be released soon. If you wish an early delivery of this
report or want to confirm the date of release, please contact us at [email protected]