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The number of cardiovascular diseases (CVD), like heart diseases and stroke, is on the rise. The Center for Disease Control and Prevention reported that more than 630,000 Americans die from heart diseases every year, making up one in four deaths. The World Health Organization stated that in 2015, over 17.7 million people worldwide died from cardiovascular diseases, accounting for 31% of all global deaths. This increasing health issue has led to a race among major companies to develop high-quality devices and accessories for better data management of CVD patients. This, in turn, has boosted the demand for cardiovascular information systems, driving market growth.
Governments around the world have been taking steps to implement electronic health record (EHR) systems, contributing to the growth of the healthcare technology market. For instance, the National Health Service in England aims to make patients' records 'largely paperless' by 2020. The NHS initiated the Integrated Digital Care Fund to support the rapid shift from paper-based clinical records to integrated digital care records (IDCR). A significant amount of funding, exceeding USD 63 million, was provided by NHS trusts and local authorities to implement electronic information systems, facilitating the smooth transfer of patient information. Similarly, Canada invested over USD 10 billion in 2014 for the implementation of EHR. These government initiatives and funding are creating favorable conditions for the growth of the cardiovascular information system market.
The past decade has witnessed significant technological advancements in cardiovascular information systems (CVIS) to meet the evolving demands of healthcare IT. Modern CVIS platforms are mostly web-based, allowing the transfer of data across the web from any location and eliminating the need for tethered workstations. These web-based platforms are considered zero-footprint systems, providing easy report generation and distribution. Notably, mobile systems have been incorporated into CVIS platforms, extending their utilization across the entire healthcare continuum and improving patient care globally. This feature enables timely access to dynamic ECG reports, facilitating efficient diagnoses.
CVIS vendors are also integrating enterprise imaging into their platforms, streamlining data workflows from all departments into a central electronic health record (EHR). This integration creates a single, comprehensive record for each patient, contributing to more effective healthcare management. These technological enhancements in CVIS are key drivers behind the global growth of the cardiovascular information system market.
The increasing prevalence of cardiovascular diseases, coupled with government initiatives to implement electronic health record systems and technological advancements in cardiovascular information systems, has fueled the growth of the healthcare technology market. These trends are expected to continue, providing better tools and systems for the management and treatment of cardiovascular diseases globally.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Opportunities | Emerging markets of CVIS |
| Market Dynamics | Increasing prevalence of cardiovascular diseases, growing government initiatives toward implementing the electronic health record system, and technological advancement. |
Cardiovascular Information System Market Highlights:
Global Cardiovascular Information System (CVIS) Market Overview
Cardiovascular Information System (CVIS) Market Size was valued at USD 0.59 billion in 2023. The Cardiovascular Information System (CVIS) market industry is projected to grow from USD 0.64 Billion in 2024 to USD 1.09 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.88% during the forecast period (2024 - 2032).The rise in the need to unite CVIS with CPAS/EMR and the surging prevalence of cardiovascular diseases are the key market drivers enhancing the market growth.
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
Systems for storing vast volumes of data and images that can be utilized to treat patients include cardiovascular information systems. With this method of data storage, patients' information is more secure and accessible from anywhere. The management of large amounts of data, data retrieval, and the upkeep of patient history records are just a few of the challenges that cardiovascular care is facing more and more, which is why advanced systems, like Electronic Health Record (EHR) systems, are needed to make data analysis easier. Given that older people are more likely to have cardiovascular ailments, the growing geriatric population will aid in the market's expansion for cardiovascular information systems. One of the key factors fueling the market's growth is the rise in cardiovascular disease cases worldwide.
The market for cardiovascular information systems is also benefited by high investment in research & development, cutting-edge healthcare regulatory scenarios, rising healthcare spending, and rising funding for healthcare infrastructure. Furthermore, the development of technologically sophisticated products and the growing popularity of telemedicine are anticipated to fuel market expansion. CVIS allows hospital managers and cardiac surgeons to work more productively than they could be using conventional data management methods. On the other hand, it is anticipated that the high cost of CVIS Solutions and healthcare providers' resistance to CVIS implementation will restrain market expansion. Compared to CPACS, CVIS technologies enable clinicians to make appropriate therapeutic decisions faster and more efficiently. Thus, it was noted that the adoption of CVIS was higher than CPACS.
One of the main reasons the web-based method of operation for cardiovascular systems of information has been widely adopted globally is the high rate of knowledge and the relatively lower cost. The cardiovascular information systems market is also anticipated to have difficulties with the interoperability and integration of CVIS solutions throughout the forecast period. Due to factors like high acceptance rates and rising knowledge of these systems' availability, the market is expected to expand quickly.
A new strategic relationship has been launched by Canon Medical Systems USA, a division of Canon Medical Systems Corp., to strengthen the company's position in the cardiovascular industry. The collaboration is with ScImage, a healthcare technology business with a strong enterprise imaging history in California. By investing more time and effort in Fysicon's QMAPP Hemodynamics solutions—another subsidiary of Canon Medical Systems Corp.—the two organizations intend to increase Canon's hemodynamics footprint.
Cardiovascular Information System (CVIS) Market Trends
- An enormous upsurge in big data in the healthcare sector is driving the market growth
Cardiovascular information systems store images and large amounts of data that can be used to treat patients. This system of storing patient data gives the data more security and easy access from anywhere. It was noticed that, from 2005 to 2019, the total number of individuals affected by healthcare data breaches was 249.09 million. Out of these, 157.40 million individuals were affected in the last five years alone, which is anticipated to increase more over the forecast period. Hence, backed by providing more security to sensitive data, this is estimated to be a major factor in driving the growth of the cardiovascular information system (CVIS) market CAGR.
Additionally, the healthcare sector is facing an enormous upsurge in big data. With that, the adoption of cardiovascular information systems is increasing ly. This is also estimated to propel the market growth. Additionally, the rising investments in R&D activities to continuously bring up more feasible solutions across the healthcare sector are predicted to propel the cardiovascular information system (CVIS) market during the forecast period. Moreover, the increasing number of CVD patients, increasing funding in healthcare infrastructure, rising awareness about treatment among patients, and inactive lifestyles followed by unhealthy diets are expected to influence the growth of the cardiovascular information system (CVIS) market. Thus, these factors drive the Cardiovascular Information System (CVIS) market revenue.
Cardiovascular Information System (CVIS) Market Segment Insights
Cardiovascular Information System (CVIS) Type Insights
Based on components, the Cardiovascular Information System (CVIS) market segmentation includes hardware, software, and services. The software segment dominated the market due o the rapid digitalization of various enterprises and the growing adoption of digitalized services in healthcare sectors. In 2020, worldwide spending on digital transformation reached approximately USD 1.4 trillion, growing about 11 percent year-on-year. Hence, this is anticipated to contribute to the growth of the cloud segment.
Cardiovascular Information System (CVIS) Delivery Mode Insights
Based on delivery mode, the Cardiovascular Information System (CVIS) market segmentation includes cloud-based/web-based and on-premise. The cloud-based/web-based segment dominated the market due to the lower cost and high rate of awareness among different sectors related to the cloud, increasing internet penetration among individuals across the globe. Moreover, maintaining patients' data through cloud-based is relatively easy compared to on-premise.
Figure1 Cardiovascular Information System (CVIS) Market, by Delivery Mode, 2022 & 2032 (USD billion)
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
Cardiovascular Information System (CVIS) Application Insights
Based on Application, the Cardiovascular Information System (CVIS) market segmentation includes cardiac & peripheral catheterization, hemodynamic monitoring, electrophysiology, echocardiography, vascular ultrasound, ECG/stress/holter management, and nuclear cardiology. The cardiac & peripheral segment dominated the market, owing to the high awareness rate and the relatively cheaper cost. With the help of Us2.ai, Ascend Cardiovascular, a pioneer in cardiovascular structured reporting and workflow solutions, is expanding its portfolio of flawlessly integrated cardiovascular image visualization and reporting solutions by adding fully automated echocardiography analysis and CV disease identification reporting. Us2.ai's FDA-cleared and CE-marked echocardiography algorithms automate measurements and pre-populate structured templates for reports when combined with InView, Ascend's high-performance, zero-footprint cardiovascular viewer. Removing manual stages and accelerating care coordination for individuals with probable heart disease, the world's largest cause of death, changes the routine reading and reporting workflow.
Cardiovascular Information System (CVIS) Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American cardiovascular information system (CVIS) market will dominate this market due to well-established healthcare infrastructure, the surging prevalence of cardiovascular diseases, and other conditions (that affect the functioning of the heart's muscle or valve) in the Region.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure2 CARDIOVASCULAR INFORMATION SYSTEM (CVIS) MARKET SHARE BY REGION 2023(%)
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe's Cardiovascular Information System (CVIS) market accounts for the second-largest market share due to the rise in the incorporation of Electronic Health Record (EHR) maintenance systems is augmenting the growth of the market in this Region. Further, the German Cardiovascular Information System (CVIS) market held the largest market share, and the UK Cardiovascular Information System (CVIS) market was the fastest-growing market in the European Region.
The Asia-Pacific Cardiovascular Information System (CVIS) Market is expected to grow at the fastest CAGR from 2024 to 2032. This is due to the huge cardiac patient population projected to fuel the demand for cardiac healthcare services in the Region. Moreover, China’s Cardiovascular Information System (CVIS) market held the largest market share, and the Indian Cardiovascular Information System (CVIS) market was the fastest-growing market in the Asia-Pacific region.
Cardiovascular information system (CVIS) Key Market Players& Competitive Insights
Leading market players are investing heavily in research and development to expand their product lines, which will help the Cardiovascular Information System (CVIS) market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the cardiovascular information system (CVIS) industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturer’s uses in the Cardiovascular Information System (CVIS) industry to benefit clients and increase the market sector. The Cardiovascular Information System (CVIS) industry has offered some of the most significant medical advantages in recent years. Major players in the Cardiovascular Information System (CVIS) market, including Electric Company (US), Koninklijke Philips N.V. (Netherlands), McKesson Corporation (US), Siemens Healthineers AG (Germany), Fujifilm Holdings Corporation (Japan), Cerner Corporation (US), IBM Watson Health (US), LUMEDX (US), Agfa-Gevaert N.V.(Belgium), Digisonics Inc (US)., and others, are attempting to increase market demand by investing in research and development operations.
Siemens Healthineers is a German medical device company. It is the parent company of several medical technology companies and is headquartered in Erlangen, Germany. The company dates its early beginnings in 1847 to a small family business in Berlin, co-founded by Werner von Siemens. Siemens Healthineers announced the acquisition of US-based company ECG Management Consultants, a leading provider of cardiology medical and management consulting services, to expand its digital health portfolio.
GE Healthcare Technologies Inc., trading as GE HealthCare, is an American multinational medical technology company headquartered in Chicago, Illinois. It was spun off from General Electric on January 4, 2023, with GE retaining 20%.GE Healthcare announced the launch of its new CVIS, Centricity Cardio Enterprise, which offers advanced imaging and workflow capabilities to support cardiology departments and improve patient outcomes.
Key Companies in the cardiovascular information system (CVIS) market include
- GE
- Koninklijke Philips N.V.
- McKesson Corporation
- Siemens Healthineers
- IBM Watson Health
- Fujifilm Holdings Corporation
- Cerner Corporation
Cardiovascular information system (CVIS) Industry Developments
August 2021 Siemens Healthineers announced the acquisition of US-based company ECG Management Consultants, a leading provider of medical and management consulting services in cardiology, to expand its digital health portfolio.
July 2021 Philips launched the next generation of its CVIS IntelliSpace Cardiovascular platform, which offers advanced analytics and artificial intelligence capabilities to support clinical decision-making and enhance patient care.
May 2021 GE Healthcare announced the launch of its new CVIS, Centricity Cardio Enterprise, which offers advanced imaging and workflow capabilities to support cardiology departments and improve patient outcomes.
Cardiovascular Information System (CVIS) Market Segmentation
Cardiovascular Information System (CVIS) Component Outlook
- Hardware
- Software
- Services
Cardiovascular Information System (CVIS) Delivery Mode Outlook
- Cloud-based/Web-based
- On-premise
Cardiovascular Information System (CVIS) Application Outlook
- Cardiac &Peripheral Catheterization
- Hemodynamic Monitoring
- Electrophysiology
- Echocardiography
- Vascular Ultrasound
- ECG/Stress/Holter Management
- Nuclear Cardiology
Cardiovascular Information System (CVIS) Regional Outlook
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
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