The global medical industry has taken a major leap towards integration of information technology in different diagnostic, treatment, and management techniques. The cardiovascular information systems are one of such software programs that help improving the clinical performance of the overall cardiology department. All kinds of data collected during therapeutic, diagnostic and follow-ups is selected in a single database for the future reference. Rising demand in eh global cardiovascular information system market is mainly driven by the growing demand to streamline the increasing workflow of the cardiology department and increasing instances of cardiovascular diseases. As a result, the industry is witnessing swift adoption of the advanced technologies all over the world.
Scope of Research – Segmentation
The researchers segment the global cardiovascular information systems (CVIS) market on the basis of the types of applications, components, delivery modes, and entity capacities of the providers. Geographic regions of the industry are also taken into consideration for the careful analysis of the latest trends and threats to the global industry. Following are the details of the sub-segmentation in the market:
- Applications: Catheterization, vascular labs, echocardiography, electrocardiography, and others
- Delivery: Web-hosted, on-premise and cloud-based
- Component: Software, hardware and services
- Capacity: Small (0-200 beds), medium (201-500 beds) and large (<501 beds) hospitals
- Geography: Europe, North America, Asia Pacific and rest of the world
Drivers, Trends & Forecasts
The global cardiovascular information system market is strongly driven by the rising demand for bringing clarity in the vast data available in the cardiac care departments. Several other factors driving the CVIS market include the demand to reduce healthcare costs, growing number of cardiovascular diseases, and technological advancements in the industry in the existing technologies. Rising demand from the emerging markets play a vital role in the overall development of the global market. Several crucial drawbacks or hindrances for the market include reluctance of cardiac care providers, growing emphasis on the adoption of electronic health records or EHS and heavy cost of the cardiovascular information systems.
All in all, the global market is increasingly inclined toward adoption of the CVIS solutions. As a result, the global cardiovascular information system market is expected to grow at a CAGR of over 7% to reach $232.9million by the end of the year 2018. In the year 2013, the market was worth $160 million. Developing regions like Europe and North America are dominating the global market, which is also expected to gain great momentum from emerging markets of Asia Pacific, Latin America and Middle East and Africa.