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Cardiovascular Information System Market Report Scope & Overview:

The Cardiovascular Information System Market Size was valued at USD 1.31 billion in 2023 and is expected to reach USD 2.68 billion by 2031, and grow at a CAGR of 9.4% over the forecast period 2024-2031.

Advanced systems such as electronic health records EHR, which would facilitate data analysis, are needed to cope with an increase in the number of challenges related to cardiac care involving a high amount of data management, information retrieval and record keeping. An increasing number of patients suffering from cardiovascular diseases and disorders, coupled with a growing demand for efficient data management tools in cardiac care units, has led to the rapid growth of the global cardiovascular device industry.

Cardiovascular Information System Market Revenue Analysis

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Heart attacks and strokes account for more than four out of every five CVD deaths, and one-third of these fatalities happen in adults below the age of 70 years. For the initiation of treatment and medicinal products, it is necessary to identify heart problems at an early stage so as to increase patient demand for cardiac information systems. The productivity and efficiency of software and patient records are enhanced by such systems. They're more effective in storage and treatment of patients' heart data compared with traditional methods, which is why they have higher demand.

MARKET DYNAMICS

DRIVERS

  • The prevalence and incidence of cardiovascular diseases are on the rise

  • Increase operational efficiency and decrease the rate of medication errors in developed markets

  • The adoption of telemedicine in cardiovascular diseases is increasing

The demand for robust CVIS solutions is being driven by the rise of telemedicine in cardiology. The CVIS, which enables remote access to patients' data, is becoming a key component in the facilitation of Internet consultations between cardiologists and their patients. In areas where access to specialised cardiac care is limited, this development will have a particularly significant impact. The synergy of telemedicine and CVIS is not only improving access to cardiovascular care, but also demonstrates the adaptability of such systems in an evolving healthcare paradigm.

RESTRAINTS

  • Implementation and maintenance costs are higher than expected

A significant financial barrier to smaller hospitals and clinics, especially in resource constrained settings, is the high costs associated with acquiring, implementing or maintaining cardiovascular information systems CVIS. Already constrained budgets can be strained by the upfront investment required, in addition to ongoing costs associated with software upgrades, data storage and system maintenance. This financial burden may make it difficult for CVIS solutions to be available in some healthcare settings, which is a barrier to the adoption of modern cardiac care technologies.

OPPORTUNITIES

  • Solutions Using the Cloud

  • Increasing Government Initiatives

Initiatives to promote the adoption of electronic health recordsEHRs and digital health technologies are being led by governments around the world. The CVIS market, in turn, is driven by this policy initiative and substantial financing for developing healthcare infrastructure. Government initiatives promote the integration of advanced technologies, such as CVIS, into mainstream healthcare practices by creating a conducive environment for digital solutions in cardiology. This support will also strengthen the effectiveness of cardiovascular care, while at the same time aligning with greater efforts to digitise and improve global health delivery.

CHALLENGES

  • Data security and privacy issues

The CVIS shall play a crucial role in the management of large and delicate information on patients, including their clinical history, images or diagnosis. Given that the consequences for patients may be severe, the potential for security breaches and data leakages raises significant concerns. The complexity of the implementation of CVIS, as well as its overall cost, is exacerbated by a number of stringent data protection regulations combined with the need for strong cyber security measures. It is essential to ensure the confidentiality and integrity of patient data, which requires continuing investment in security infrastructure and compliance measures.

Impact of Russia-Ukraine War

Ukraine's health care system has suffered since the beginning of the war. The logistics of helping all patients, especially patients with combined cardiovascular pathology and oncology, severe pulmonary hypertension, and others requiring special supervision, were destroyed. Many of these patients have been saved and continue their treatment in foreign hospitals, thanks to the efforts of doctors and international funding. There was a severe shortage of medical care. According to the World Health Organization's Surveillance System for Attacks on Health Care, by December 7, 2022, there had been a shocking number of violent incidents targeting healthcare.  A total of 715 attacks were verified, with 600 involving heavy weapons. These attacks targeted healthcare facilities, personnel, patients, transportation, and supply depots. Tragically, these acts of violence resulted in 100 deaths and 129 injuries. Furthermore, 127 healthcare facilities were utterly destroyed in these attacks and cannot be rebuilt. The medical infrastructure in Kyiv, Chernihiv, Donetsk, Mykolaiv, and Kharkiv experienced significant impacts across five regions. The effects of the war on the production and procurement of medical supplies, as well as the difficulties caused by the displacement of doctors and nurses, are added to this massive destruction.

Impact of Economic Slowdown

The need for social isolation imposed on most countries is also exacerbating the economic slowdown. Various measures, such as financial, tax and health policy responses, will be needed to deal with this situation. In view of the fact that it was not directly COVID-19 that triggered the economic slowdown, but the measures taken to limit its spread, it inspired us to reconsider the relationship between the economic crisis and the health of the population.

The health budgets were different from one another in their reaction to these new business conditions. Significant restrictions were put in place by some countries, which was not a good strategy. Funds were frozen in some states, usually because they were earmarked for health care under compulsory health insurance. According to further studies, there was no restriction on the budget but its growth decelerated significantly and affected a changing demographic composition. Studies have also shown that countries with compulsory health insurance systems, where the funds are based on remuneration, have experienced a more significant deterioration in health status than those with Beveridge schemes, where the funds are usually less flexible and budgeted in advance. The implementation of targeted cuts was also more probable for them. Some countries, notably in hospitals and the pharmaceutical industry, have taken advantage of this opportunity to reduce their costs. The salaries of healthcare professionals have been reduced or frozen by others.

Market Segmentation

By Mode Of Operation

  • Web-based

  • Cloud-based

  • On-site

In 2023, web-based segment accounted for a dominant revenue share of 74.6%. In Web Based Operations, there is no need to install local programs and this method of deployment has the advantage of being easily accessible. The CVIS platform can be easily accessed and used by healthcare professionals working remotely or in multiple locations using their credentials. In order to ensure data protection and backup, the information is usually stored on secure servers. The main factors that have led to the widespread adoption of a web awareness mode for operational cardiac information systems around the world are high rates of uptake and comparatively lower costs. Improved interoperability, easier access to images and information from any point of view as well as increased convenience are driving market developments in this type of operation.

By System

  • CVIS

  • CPACS

The CVIS segment represented the largest revenue share in 2023 and is projected to grow at an accelerated compound annual growth rate over the forecast horizon. The CVIS system facilitates effective data analysis, allowing physicians to make more accurate treatment choices faster than the CPACS system. Therefore, the adoption of CVIS was found to be greater than that of CPACS and this represented a significant increase.

Regional Analysis

The market was dominated by North America, with a revenue share of 32.0% in 2023. According to the Centers for Disease Control and Prevention, heart disease is the primary cause of mortality for both men and women of most racial and ethnic groups in the U.S. Cardiovascular disease claims one life in the U.S. every 33 seconds. In the United States, heart disease claimed the lives of almost 695,000 people in 2021, accounting for 1 out of every 5 deaths. In North America, the incidence of heart failure varies because of changes in economics, genetic predispositions, culture practices and trends in risk factors and treatments, as determined by the National Library of Medicine.

Asia Pacific is projected to grow at an average annual growth rate of 10.4% over the forecast period. Due to a sharp increase in the number of patients, the region has seen significant increases in healthcare expenditure leading to increased investments in research and development activities related to cardiovascular disease. This contributed to the development of new and innovative products and technologies, which supported growth in regional markets. The development of the Asia Pacific region over the forecast period is expected to be supported by the presence of fast developing economies such as India and China, where healthcare infrastructure is rapidly improving.

Cardiovascular-Information-System-Market-By-Region

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REGIONAL COVERAGE:

North America

  • US

  • Canada

  • Mexico

Europe

  • Eastern Europe

    • Poland

    • Romania

    • Hungary

    • Turkey

    • Rest of Eastern Europe

  • Western Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Netherlands

    • Switzerland

    • Austria

    • Rest of Western Europe

Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Vietnam

  • Singapore

  • Australia

  • Rest of Asia Pacific

Middle East & Africa

  • Middle East

    • UAE

    • Egypt

    • Saudi Arabia

    • Qatar

    • Rest of the Middle East

  • Africa

    • Nigeria

    • South Africa

    • Rest of Africa

Latin America

  • Brazil

  • Argentina

  • Colombia

  • Rest of Latin America

KEY PLAYERS:

Some of the major key players are Cerner Corporation, Esasote, CREALIFE Medical Technology, Fujifilm Medical Systems, GE Healthcare, Merge Healthcare Inc, Lumedx, Philips Healthcare, Simens Healthineers AG, McKesson Corporation and other players.

Merge Healthcare Inc-Company Financial Analysis

Company Landscape Analysis

Recent Developments:

  • In Jul-2023, In the Indian market, GE HealthCare Technologies has entered into a partnership with Elekta, which is one of the leading radiation therapy companies. In this partnership, GE HealthCare will seek to improve the efficiency, precision and personalization of the entire cancer care process, highlighting our commitment to investing in solutions that improve the quality of cancer care while making it more comfortable for patients.

  • In Oct-2022, Siemens Healthineers AG has entered into an agreement with iMedrix Systems Pvt Ltd, a healthcare technology firm specialising in remote patient monitoring and telemedicine services. In order to help their clients gain a deeper understanding of health, the two companies would provide telecardiology technology through this partnership.

  • In Sep-2022, to improve access to quality healthcare and pharmaceuticals, McKesson Corporation has entered into partnership with CVS Health, a diversified health care company which provides pharmacy services, medical clinic services as well as insurance coverage. Both companies would be able to meet growing customer demand through this partnership.

Cardiovascular Information System Market Report Scope:
Report Attributes Details
Market Size in 2023  US$ 1.31 Billion
Market Size by 2031  US$ 2.68 Billion
CAGR  CAGR of 9.4% From 2024 to 2031
Base Year  2023
Forecast Period  2024-2031
Historical Data  2020-2022
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Mode of Operation (Web-based, Cloud-based, On-site)
• By System (CVIS, CPACS)
Regional Analysis/Coverage North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America)
Company Profiles Cerner Corporation, Esasote, CREALIFE Medical Technology, Fujifilm Medical Systems, GE Healthcare, Merge Healthcare Inc, Lumedx, Philips Healthcare, Simens Healthineers AG, McKesson Corporation.
KEY DRIVERS • Cardiovascular Diseases Are Becoming More Common and Incident
• Concentrate on Improving Operational Efficiency and Lowering Medication Error Rates in Developed Markets
• Healthcare Providers Are Able to Cut Costs by Implementing CVIS
Restraints • Pricey CVIS Solutions
• Healthcare Professionals' Resistance to CVIS Implementation

Frequently Asked Questions

Ans: The cardiovascular information system market was valued at USD 1.31 billion in 2023.

Ans: The expected CAGR of the global cardiovascular information system market during the forecast period is 9.4%.

 Cerner Corporation, Esasote, CREALIFE Medical Technology, Fujifilm Medical Systems, GE Healthcare, Merge Healthcare Inc, are the key players of Cardiovascular Information System market

North America is dominated by stringent privacy and security laws, and that the amount of commerce in the cardiovascular information sector is rising. 

 Cardiovascular Diseases Are Becoming More Common and Incident, Concentrate on Improving Operational Efficiency and Lowering Medication Error being the key drivers of the Cardiovascular Information System market.

TABLE OF CONTENTS

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2. Industry Flowchart

3. Research Methodology

4. Market Dynamics

4.1 Drivers

4.2 Restraints

4.3 Opportunities

4.4 Challenges

5. Impact Analysis

5.1 Impact of Russia-Ukraine Crisis

5.2 Impact of Economic Slowdown on Major Countries

5.2.1 Introduction

5.2.2 United States

5.2.3 Canada

5.2.4 Germany

5.2.5 France

5.2.6 UK

5.2.7 China

5.2.8 Japan

5.2.9 South Korea

5.2.10 India

6. Value Chain Analysis

7. Porter’s 5 Forces Model

8.  Pest Analysis

9. Cardiovascular Information System Market, By Mode of Operation

9.1 Introduction

9.2 Trend Analysis

9.3 Web-based

9.4 Cloud-based

9.5 On-site

10. Cardiovascular Information System Market, By System

10.1 Introduction

10.2 Trend Analysis

10.3 CVIS

10.4 CPACS

11. Regional Analysis

11. Regional Analysis

11.1 Introduction

11.2 North America

11.2.1 USA

11.2.2 Canada

11.2.3 Mexico

11.3 Europe

11.3.1 Eastern Europe

11.3.1.1 Poland

11.3.1.2 Romania

11.3.1.3 Hungary

11.3.1.4 Turkey

11.3.1.5 Rest of Eastern Europe

11.3.2 Western Europe

11.3.2.1 Germany

11.3.2.2 France

11.3.2.3 UK

11.3.2.4 Italy

11.3.2.5 Spain

11.3.2.6 Netherlands

11.3.2.7 Switzerland

11.3.2.8 Austria

11.3.2.9 Rest of Western Europe

11.4 Asia-Pacific

11.4.1 China

11.4.2 India

11.4.3 Japan

11.4.4 South Korea

11.4.5 Vietnam

11.4.6 Singapore

11.4.7 Australia

11.4.8 Rest of Asia Pacific

11.5 The Middle East & Africa

11.5.1 Middle East

11.5.1.1 UAE

11.5.1.2 Egypt

11.5.1.3 Saudi Arabia

11.5.1.4 Qatar

11.5.1.5 Rest of the Middle East

11.5.2 Africa

11.5.2.1 Nigeria

11.5.2.2 South Africa

11.5.2.3 Rest of Africa

11.6 Latin America

11.6.1 Brazil

11.6.2 Argentina

11.6.3 Colombia

11.6.4 Rest of Latin America

12. Company Profiles

12.1 Cerner Corporation

12.1.1 Company Overview

12.1.2 Financial

12.1.3 Products/ Services Offered

12.1.4 SWOT Analysis

12.1.5 The SNS View

12.2 Esasote

12.2.1 Company Overview

12.2.2 Financial

12.2.3 Products/ Services Offered

12.2.4 SWOT Analysis

12.2.5 The SNS View

12.3 CREALIFE Medical Technology

12.3.1 Company Overview

12.3.2 Financial

12.3.3 Products/ Services Offered

12.3.4 SWOT Analysis

12.3.5 The SNS View

12.4 Fujifilm Medical Systems

12.4.1 Company Overview

12.4.2 Financial

12.4.3 Products/ Services Offered

12.4.4 SWOT Analysis

12.4.5 The SNS View

12.5 GE Healthcare

12.5.1 Company Overview

12.5.2 Financial

12.5.3 Products/ Services Offered

12.5.4 SWOT Analysis

12.5.5 The SNS View

12.6 Merge Healthcare Inc

12.6.1 Company Overview

12.6.2 Financial

12.6.3 Products/ Services Offered

12.6.4 SWOT Analysis

12.6.5 The SNS View

12.7 Lumedx

12.7.1 Company Overview

12.7.2 Financial

12.7.3 Products/ Services Offered

12.7.4 SWOT Analysis

12.7.5 The SNS View

12.8 Philips Healthcare

12.8.1 Company Overview

12.8.2 Financial

12.8.3 Products/ Services Offered

12.8.4 SWOT Analysis

12.8.5 The SNS View

12.9 Simens Healthineers AG

12.9.1 Company Overview

12.9.2 Financial

12.9.3 Products/ Services Offered

12.9.4 SWOT Analysis

12.9.5 The SNS View

12.10 McKesson Corporation

12.10.1 Company Overview

12.10.2 Financial

12.10.3 Products/ Services Offered

12.10.4 SWOT Analysis

12.10.5 The SNS View

13. Competitive Landscape

13.1 Competitive Benchmarking

13.2 Market Share Analysis

13.3 Recent Developments

13.3.1 Industry News

13.3.2 Company News

13.3.3 Mergers & Acquisitions

14. Use Case and Best Practices

15. Conclusion

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Secondary Research

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Primary Research

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Data Bank Validation

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