According to a report by Grand View Research, Inc.; the global Cardiovascular Information System (CVIS) market is anticipated to value USD 1.2 billion by 2024. Growing need for advanced systems that can manage large amount of data related to heart patients can drive the market over the forecast period (2014 to 2024). Cardiovascular information systems maintain history and records of heart patients and offer improved data analysis in short span of time.
Rising cases of cardiovascular diseases and other heart related problems can positively influence growth of the CVIS market. Growing adoption of effective data management tools in healthcare facilities offering cardiac care can stimulate expansion in near future. Introduction of technologically advanced cardiovascular information systems is anticipated to bode well for market in the forthcoming years. Rising pressure of patient health record maintenance is anticipated to drive demand for advanced management tools offering easy access of patient information. Rising awareness regarding existence of such advanced systems can boost market expansion over the forecast period.
The worldwide Cardiovascular Information System (CVIS) market can be segmented on the basis of system, mode of operation, and region. Based on system, the market can be bifurcated into Cardiology Picture Archiving and Communication System (CPACS) and Cardiovascular Information System (CVIS). In 2015, CVIS segment held the largest market share. High demand from physicians can be attributed to this expansion. These systems provide efficient data analysis and allow physicians to take better and quick therapeutics decisions. The segment is predicted to continue dominating the market over the forecast period.
Full Research Report On Cardiovascular Information System (CVIS) Market Analysis: www.grandviewresearch.com/industry-analysis/cardiovascular-information-system-market
Germany Cardiovascular Information System Market, by Mode of Operation, 2014 - 2024 (USD Million)
Based on mode of operation, the market can be classified into on-site, web-based, and cloud-based. In 2015, web-based segment held the largest market share. Growing awareness regarding web-based cardiovascular information systems and low cost are expected to propel demand for web-based mode of operation over the forecast period. Cloud based segment is anticipated to register the fastest CAGR over the forecast period. Benefits like remote accessibility of data, reasonable cost, and user-friendly interface can drive growth near future.
Regional segmentation includes Asia Pacific, Europe, North America, Latin America, and Middle East and Africa. In 2015, North America accounted for the largest market share of around 36% owing to advanced healthcare infrastructure. It is anticipated to continue its dominance at CAGR of 5.8% from 2016 to 2024. Rising cases of cardiovascular disorders can also drive regional growth. In addition, proliferation of Electronic Health Record (EHR) maintenance systems can propel market expansion. Moreover, supportive government policies coupled with increasing number of cardiovascular care institutes can stimulate market expansion over the forecast period.
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Asia Pacific is projected to expand at the fastest CAGR over the forecast period attributed to presence of advanced healthcare infrastructure in India and China. In addition, increasing number of heart patients demanding cardiac healthcare services can propel regional market. Moreover, growth of medical tourism in the region attributed to availability of low cost medical services is projected to augment market expansion over the forecast period.
Some of the leading companies operating in the Cardiovascular Information System (CVIS) market are GE Healthcare, Philips Healthcare, Cerner Corporation, McKesson Corporation, and Siemens Healthcare GmbH. Most companies invest in R&D to launch innovative products. They combine CVIS with other systems to develop advanced systems.
However, growing need for advanced hardware components can act as big challenge for the market players. Hence, the companies focus on designing systems compatible with easily available hardware components. In addition, high costs of CVIS can hinder market growth in developing countries. Therefore, most companies are outsourcing raw materials from companies operating in developing countries. This is anticipated to reduce manufacturing costs of cardiovascular information systems in near future.
Grand View Research has segmented the cardiovascular information system (CVIS) market on the basis of system type, mode of operation,and geography.
Cardiovascular information system market, by system, 2013 - 2024 (USD Million)
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CVIS
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CPACS
Cardiovascular information system market, by mode of operation, 2013 - 2024 (USD Million)
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Web-based
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On-site
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Cloud-based
Cardiovascular information system market, by region, 2013 - 2024 (USD Million)
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North America
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U.S. Cardiovascular Information System, by Systems
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Canada Cardiovascular Information System, by Systems
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U.S. Cardiovascular Information System, by Mode of Operation
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Canada Cardiovascular Information System, by Mode of Operation
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Europe
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U.K. Cardiovascular Information System, by Systems
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Germany Cardiovascular Information System, by Systems
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U.K. Cardiovascular Information System, by Mode of Operation
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Germany Cardiovascular Information System, by Mode of Operation
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Asia Pacific
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China Cardiovascular Information System, by Systems
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India Cardiovascular Information System, by Systems
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China Cardiovascular Information System, by Mode of Operation
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India Cardiovascular Information System, by Mode of Operation
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Latin America
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Brazil Cardiovascular Information System, by Systems
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Mexico Cardiovascular Information System, by Systems
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Brazil Cardiovascular Information System, by Mode of Operation
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Mexico Cardiovascular Information System, by Mode of Operation
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MEA
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South Africa Cardiovascular Information System, by Systems
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South Africa Cardiovascular Information System, by Mode of Operation
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