Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Cardiovascular Information System Market – Insights

Cardiovascular information system (CVIS) is a system that allows easy report generation and distribution and offers on-time access to cardiovascular electronic medical records (EMR) in images, reports, and waveforms. CVIS is used in catheterization, echocardiography, electrocardiography (ECG) data management, and vascular solutions.

Statistics:

The global cardiovascular information system market is estimated to account for US$ 1,503.7 Mn in terms of value by the end of 2027.

Global Cardiovascular Information System Market: Drivers

Increasing prevalence of cardiovascular diseases (CVDs) is expected to boost growth of the global cardiovascular information system market over the forecast period. For instance, according to American Heart Association’s Heart Disease and Stroke Statistics 2018, around 92.1 million adults in the U.S. are suffering from some form of CVD or the after-effects of stroke.

Moreover, increasing adoption of structured reporting is also expected to aid in growth of the market. Majority of CVIS solutions offer some sort of structured reporting for all cardiology-related procedures/modalities. The offerings with analytics tools and vendors’ ability to provide data mining have now jumped to the top of the list for healthcare provider requirements. Structured reporting has completely eliminated the need for conventional dictation. Some CVIS solutions still offer both structured reporting and data mining. However, recent implementation trends have proven that structured reporting yields more accurate and timely results.

North America region held dominant position in the global cardiovascular information system market in 2019, accounting for 39.1% share in terms of value, followed by 2027.

Figure 1. Global Cardiovascular Information System Market Share (%), by Region, 2019

Cardiovascular Information System  | Coherent Market Insights

Source: Coherent Market Insights Analysis (2020)

Global Cardiovascular Information System Market: Restraints

High implementation cost of CVIS is expected to hinder growth of the global cardiovascular information system. Health IT systems often carry hefty price tags. Currently, providers are expected to bear most of the initial costs, while most of the savings accrue to others. For instance, hospitals often spend tens of millions of dollars on computerized physician order entry systems, providing benefits for other stakeholders-insurers, purchasers, and patients.

Several CVIS applications suffer from misalignment with existing work flow, which is also expected to limit growth of the market. Cardiovascular physicians require patient procedural data and imaging files be available in a timely manner to enable the physicians to report findings and develop a treatment plan quickly. Physician reporting is optimally completed in an electronic structured report to assist in the accuracy and timeliness of the record integrating with the patient’s medical record. Unfortunately, many CVIS applications suffer from misalignment with existing work flow, real-world operating conditions, and critical interfaces, and less than user-friendly data entry, among other issues.  These issues make it clear that a reliable and robust CVIS is a must for any contemporary cardiovascular program.

Global Cardiovascular Information System Market: Opportunities 

Large strategic buyers are focused on acquiring unique software solutions that are solving challenges in the healthcare market and are growing rapidly, offering exit opportunities for entrepreneurs at very attractive prices. There are a lot of healthcare IT companies experiencing operating momentum as healthcare providers, payers, and life science competitors increasingly rely on them to structure and analyze data as well as engage patients. This has made the mergers and acquisition market more attractive exit point.

In light of the American Reinvestment & Recovery Act (ARRA), vendors have a better understanding of the importance of interoperability of CVIS with EMR. As public health now seeks to expand reporting between hospitals/providers and public health and increase capacity for data management, there will be a need to coordinate across programs, state health information technology (HIT) coordinators, state Health Information Exchange (HIE) plans, and CMS. Moreover, companies are extending their CVIS solutions from mere data integration to inter-departmental interoperability

Cardiovascular Information System  | Coherent Market Insights

Software segment in the global cardiovascular information system market was valued at US$ 240.5 Mn in 2019 and is expected to reach US$ 431.3 Mn by 2027 at a CAGR of 7.6% during the forecast period.

Market Trends/Key Takeaways

The market is witnessing increasing adoption of zero footprint systems. Most of the new CVIS platforms are web-based and are therefore, “zero-footprint” as a hard drive to house the software is not required. These platforms also eliminate the need to network all the workstations in a department together, since they can transfer data across the web. This also eliminates the need for tethered workstations.

Introduction of comprehensive image and information systems is expected to aid in growth of the market. Image sharing is gaining wider acceptance in the healthcare sector. Moreover, use of CVIS aids to reduce repeat image in order to decrease patient exposure to unnecessary radiation. Medical sharing has also expanded across multiple departments.

Segmentation:

Cardiovascular Information System  | Coherent Market Insights

Global Cardiovascular Information System Market: Competitive Landscape 

Major players operating in the global cardiovascular information system market include, McKesson Corporation, GE Healthcare, Koninklijke Philips N.V., Siemens Healthineers, IBM (Merge Healthcare), Fujifilm Holdings Corporation, Lumedx, Digisonics Inc., and Agfa Healthcare.

Global Cardiovascular Information System Market: Key Developments

Major players in the market are focused on adopting collaboration and partnership strategies to expand their product portfolio. For instance, in October 2019, LUMEDX, a provider of CVIS, partnered with MedAxiom, a cardiovascular healthcare membership organization and community, for improving cardiovascular care.

In April 2019, Ebit (Esaote Group), an Italy-based healthcare IT Company, partnered with DiA Imaging Analysis, under which DiA will offer its LVivo Cardiac Toolbox as an integrated part of Ebit's Suitestensa CVIS.  

Cardiovascular information system (CVIS) are used to access cardiovascular electronic medical records (EMR) and generating reports. These systems are used for sharing, archiving, and storing of images and healthcare information. Increasing prevalence of cardiovascular diseases (CVDs) is expected to boost growth of the global cardiovascular information system market over the forecast period. Furthermore, increasing technological advancements such as adoption of Vendor Neutral Archive (VNA) technology is expected to propel growth of the global cardiovascular information system market over the forecast period.

Key features of the study:

  • This report provides in-depth analysis of the Cardiovascular Information System market  and provides market size (US$ million) and compound annual growth rate (CAGR %) for the forecast period (2019–2027), considering 2018 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategy adopted by key players
  • It profiles key players in the global Cardiovascular Information System market  based on the following parameters – company overview, financial performance, product portfolio, market presence, distribution strategies, key developments, strategies, and future plans
  • Key companies covered as a part of this study include, McKesson Corporation, GE Healthcare, Koninklijke Philips N.V., Siemens Healthineers, IBM (Merge Healthcare), Fujifilm Holdings Corporation, Lumedx, Digisonics Inc., and Agfa Healthcare
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, technology up-gradation, market expansion, and marketing tactics
  • The global Cardiovascular Information System market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global Cardiovascular Information System market

Detailed Segmentation:

  • Cardiovascular Information System Market, By Component:
      • Hardware
      • Software
        • Standalone
        • Integrated
      • Services
        • Installation
        • Integration
        • Maintenance
        • Others
  • Cardiovascular Information System Market, By Deployment:
    • Cloud-based
    • On-premise
  • Cardiovascular Information System Market, By Application:
    • Catheterization
    • Echocardiography
    • Electrocardiogram
    • Electrophysiology
    • Others
  • Cardiovascular Information System Market, By End User:
    • Hospitals
    • Clinics
    • Cardiac Cath Labs
    • Ambulatory Surgical Centers
    • Diagnostic Centers 
  • Cardiovascular Information System Market, By Region:
    • North America
      • By Component:
          • Hardware
          • Software
            • Standalone
            • Integrated
          • Services
            • Installation
            • Integration
            • Maintenance
            • Others
      • By Deployment
        • Cloud-based
        • On-premise
      • By Application
        • Catheterization
        • Echocardiography
        • Electrocardiogram
        • Electrophysiology
        • Others
      • By End User
        • Hospitals
        • Clinics
        • Cardiac Cath Labs
        • Ambulatory Surgical Centers
        • Diagnostic Centers
      • By Country:
        • U.S.
        • Canada
    • Latin America
      • By Component:
          • Hardware
          • Software
            • Standalone
            • Integrated
          • Services
            • Installation
            • Integration
            • Maintenance
            • Others
      • By Deployment
        • Cloud-based
        • On-premise
      • By Application
        • Catheterization
        • Echocardiography
        • Electrocardiogram
        • Electrophysiology
        • Others
      • By End User
        • Hospitals
        • Clinics
        • Cardiac Cath Labs
        • Ambulatory Surgical Centers
        • Diagnostic Centers
      • By Country:
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Component:
          • Hardware
          • Software
            • Standalone
            • Integrated
          • Services
            • Installation
            • Integration
            • Maintenance
            • Others
      • By Deployment
        • Cloud-based
        • On-premise
      • By Application
        • Catheterization
        • Echocardiography
        • Electrocardiogram
        • Electrophysiology
        • Others
      • By End User
        • Hospitals
        • Clinics
        • Cardiac Cath Labs
        • Ambulatory Surgical Centers
        • Diagnostic Centers
      • By Country:
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Component:
          • Hardware
          • Software
            • Standalone
            • Integrated
          • Services
            • Installation
            • Integration
            • Maintenance
            • Others
      • By Deployment
        • Cloud-based
        • On-premise
      • By Application
        • Catheterization
        • Echocardiography
        • Electrocardiogram
        • Electrophysiology
        • Others
      • By End User
        • Hospitals
        • Clinics
        • Cardiac Cath Labs
        • Ambulatory Surgical Centers
        • Diagnostic Centers
      • By Country:
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • By Component:
          • Hardware
          • Software
            • Standalone
            • Integrated
          • Services
            • Installation
            • Integration
            • Maintenance
            • Others
      • By Deployment
        • Cloud-based
        • On-premise
      • By Application
        • Catheterization
        • Echocardiography
        • Electrocardiogram
        • Electrophysiology
        • Others
      • By End User
        • Hospitals
        • Clinics
        • Cardiac Cath Labs
        • Ambulatory Surgical Centers
        • Diagnostic Centers
      • By Country:
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Component:
          • Hardware
          • Software
            • Standalone
            • Integrated
          • Services
            • Installation
            • Integration
            • Maintenance
            • Others
      • By Deployment
        • Cloud-based
        • On-premise
      • By Application
        • Catheterization
        • Echocardiography
        • Electrocardiogram
        • Electrophysiology
        • Others
      • By End User
        • Hospitals
        • Clinics
        • Cardiac Cath Labs
        • Ambulatory Surgical Centers
        • Diagnostic Centers
      • By Country:
        • South Africa
        • Central Africa
        • North Africa
  • Company Profiles
    • McKesson Corporation *
      • Company Overview
      • Product Portfolio
      • Key Highlights
      • Financial Overview
      • Strategies
    • GE Healthcare
    • Koninklijke Philips N.V.
    • Siemens Healthineers
    • IBM (Merge Healthcare)
    • Fujifilm Holdings Corporation
    • Lumedx
    • Digisonics Inc.
    • Agfa Healthcare
  • “*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Component
      • Market Snippet, By Deployment
      • Market Snippet, By Application
      • Market Snippet, By End User
      • Market Snippet, By Region
      • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Impact Analysis
    • Key Highlights
    • Product launch
    • PEST Analysis
    • Regulatory Scenario
    • Mergers and Acquisitions
  4. Global Cardiovascular Information System Market, By Component, 2019 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Hardware
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Software
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
        • Standalone
        • Integrated
    • Services
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
        • Installation
        • Integration
        • Maintenance
        • Others
  5. Global Cardiovascular Information System Market, By Deployment, 2019 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Cloud-Based
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • On-Premise
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  6. Global Cardiovascular Information System Market, By Application, 2019 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Catheterization
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Echocardiography
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Electrocardiogram
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Electrophysiology
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  7. Global Cardiovascular Information System Market, By End User, 2019 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Hospitals
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Clinics
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Cardiac Cath lab
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Ambulatory Surgical Centers
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Diagnostic Centers
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  8. Global Cardiovascular Information System Market, By Region, 2019 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, By Region, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, For Regions, 2017–2026
    • North America
      • Market Size and Forecast, By Component, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Deployment, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Application, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • U.S.
        • Canada
    • Latin America
      • Market Size and Forecast, By Component, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Deployment, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Application, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • Market Size and Forecast, By Component, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Deployment, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Application, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast, By Component, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Deployment, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Application, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of APAC
    • Middle East
      • Market Size and Forecast, By Component, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Deployment, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Application, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • Market Size and Forecast, By Component, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Deployment, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Application, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • South Africa
        • Central Africa
        • North Africa
  9. Competitive Landscape
    • Company Profiles
      • McKesson Corporation
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • GE Healthcare
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Koninklijke Philips N.V.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Siemens Healthineers
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • IBM (Merge Healthcare)
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Fujifilm Holdings Corporation
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Lumedx
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Digisonics Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Agfa Healthcare
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
  10. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse 28 market data tables and 18 figures on “Cardiovascular Information System Market - Global forecast to 2027”.

Frequently Asked Questions

What are the growth estimates for cardiovascular information system market till 2027?
Which are the prominent cardiovascular information system market players across the globe?
High implementation cost of CVISis one of the major factors that is expected to hamper growth of the market over the forecast period.
Increasing prevalence of cardiovascular diseases (CVDs) is one of the major factors that is expected to propel growth of the market over the forecast period
Increasing adoption of zero footprint systems is one of the major trends that has been observed in the market
Among regions, North America region held dominant position in the global cardiovascular information system market in 2019, accounting for % share in terms of value.
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