Cardiovascular information systems are integrated database systems used for storage and retrieval of cardiovascular diagnostic reports, images, and other data. They help in streamlining workflow, clinical decision making and enhance productivity of cardiovascular departments. With the rising prevalence of cardiovascular diseases, there is an increasing need for improved medical infrastructure for management and treatment of cardiac conditions.
The global Cardiovascular Information System Market is estimated to be valued at US$ 9.26 Bn in 2023 and is expected to exhibit a CAGR of 9.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increased adoption of digital platforms in healthcare has been a major driving factor for the growth of cardiovascular information system market. Digital systems offer various benefits such as ability to share reports and images remotely, integration with various cardiac devices, improved storage and retrieval of data. This has increased convenience for both patients and healthcare providers. With growing penetration of internet and advancement in telehealth, digital cardiovascular systems are enabling improved management of cardiac patients across various geographical locations which is further propelling market growth.
Segment Analysis
The global Cardiovascular Information System market is segmented by component, deployment type, end user, and geography. By component, the services segment dominated the market in 2022, accounting for around 60% of the overall market share. Significant amount of resources and workforce are required for service and support activities like training, installation, maintenance, remote infrastructure management and upgradation of Cardiovascular Information Systems.
Key Takeaways
The global Cardiovascular Information System market is expected to witness high growth over the forecast period of 2023 to 2030. The global Cardiovascular Information System Market is estimated to be valued at US$ 9.26 Bn in 2023 and is expected to exhibit a CAGR of 9.3% over the forecast period 2023 to 2030.
Regional analysis:
North America dominated the Cardiovascular Information System market in 2022 with around 40% market share. This is attributed to factors such as high penetration of advanced healthcare IT infrastructure and presence of major market players in this region. Asia Pacific region is expected to witness highest growth rate during the forecast period owing to increasing healthcare expenditures, growing incidences of cardiovascular diseases and improving healthcare infrastructure in emerging economies of China and India.
Key players:
Key players operating in the Cardiovascular Information System market are Philips Healthcare, GE Healthcare, Cisco Systems, Fujifilm Medical Systems, Inc., Siemens Healthcare GmbH, Cerner Corporation, LUMEDX Corporation, and Digisonics, Inc. Philips Healthcare accounted for over 15% market share in 2022 owing to its robust portfolio of Cardiovascular Information Systems and strong global presence across key markets.
