August 7, 2020

Cardiovascular Information System (CVIS) Market Values, Business Profiles and Forecast to 2025

Market Overview:

In the recent years, cardiovascular information systems have undergone a transformation to meet demands for better interoperability, changing healthcare IT landscape and infrastructure and need to meet healthcare reform requirements. Various market players are either undertaking collaborative efforts or launching new products and therefore aiding in the growth of the cardiovascular information systems industry.

The global Cardiovascular Information System (CVIS) Market Size is poised to reach the valuation of USD 1,343.26 million by 2025, as per the latest report by Market Research Future (MRFR). The market can grow immensely at 8.30% CAGR over the forecast period (2018-2025).

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Various factors are propelling the cardiovascular information system market growth. Some of these factors, according to the Market Research Future report, include increasing prevalence of various cardiovascular diseases and disorders such as ischemic heart disease, arrhythmias, and cardiac failure, various initiatives taken by the government for digitizing patient data, and technological advancements in healthcare IT. Additional factors pushing market growth include increasing need for productive data management tools in cardiac care departments and increasing rate of medication errors. On the contrary, technical complexities and high costs related to CVIS that can result in hesitation in its adoption among hospitals are factors that may impede the cardiovascular information system market

growth over the forecast period.

Competitive Analysis:

·         Carestream Health

·         Scimage, Inc

·         Koninklijke Philips N.V

·         Cerner Corporation

·         Epic Systems Corporation

·         Digisonics Inc.

·         Fujifilm Holdings Corporation

·         LUMEDX

·         Agfa-Gevaert N.V.

·         IBM Health

·         General Electric Company

·         McKesson Corporation

·         Siemens Healthineers

Segmentation Analysis:

·         The cardiovascular information system (CVIS) market is segmented by component, deployment, application, and end-user.

·         By component, software held close to 67.9% share of the CVIS market in 2017, followed by services the second largest market and hardware the least market share.

·         By deployment, web/cloud-based held the largest market share in 2017, while the on-premise segment held second largest share.

·         Among applications, cardiac and peripheral catheterization held 32.4% share in 2017, followed by echocardiography, hemodynamics monitoring, electrophysiology, vascular ultrasound, nuclear cardiology, ECG/stress/Holter management, and others.

·         Hospitals & clinics was the biggest market end-user in 2017 with a respectable 48.2% share, followed by diagnostic laboratories, cardiac cath labs, and others.

Regional Analysis:

The geographical analysis of the cardiovascular information system (CVIS) market encompasses fore regions - Americas, Europe, Asia Pacific, and the Middle East & Africa (MEA). Americas, placed at the dominant position, held 37.6% market share in 2017. It is prognosticated to maintain its dominance through the review period and value at USD 481.04 Mn towards the end of 2025. Healthcare services providers leverage mHealth and big data for early detection of CVDs in the region which is expected to provide impetus to market growth. On the other hand, Europe is likely to exhibit a steady CAGR between 2018 and 2025.