IT is emerging as a vital component among healthcare organizations, specifically in managing the rapidly growing healthcare data. Although there are several healthcare information systems (HIS) such as EMR, EHR, and PACS, the significant growth in cardiovascular diseases globally is driving the demand for cardiovascular information system (CVIS) among cardiologists... The increasing cases of heart diseases globally have escalated the demand for interventional cardiology surgeries. Cardiovascular operations face numerous problems such as outdated technology, multiple systems, and disparate silos of data and hence many clinics and healthcare providers are seeking to modernize their cardiovascular department with CVIS.
Cardiovascular information system (CVIS) can be defined as the web based compilation of research material software architecture and clinical information that helps in facilitating information exchange, decision support and scientific advancement of the field. It is a data driven field that stores all the information related to patients suffering from cardiovascular disease. Along with the business operations such as business analytics and making bills, CVIS also provides dynamic reporting like informatics, measurements and images for reliable and effective reports of patients. Cardiovascular information system market is already at its highest point and has very good chances that the field will be witnessing further growth. The global cardiovascular information system market has the CAGR of 8.57% during the forecast period2016-2023.
Enterprise wide management and IT systems have become the key trends of healthcare organizations. Healthcare organizations are looking at opportunities with cloud computing by allowing quick access to computing and large storage facilities.
The major drivers of cardiovascular information system include:
- Increasing cases of CVDs
- Increasing focus on operational excellence
- Rising adoption of healthcare IT
Although creating an enterprise imaging system has now become an ultimate goal of many organizations, the cost of implementing an enterprise system is a major restraint. Also consolidation of hospitals is one of the major concerns before the customers with respect to data security and protection of patients’ personal data. Interoperability and integration issues are most common in such cases. For example, merging of various databases from different hospitals place major concern about the legacy systems from multiple vendors such that whether they need to be replaced or integrated.
CVIS has improved the way of treatment a lot by reducing door to treatment time, quick responses to physician requests, and so on. For example, the average door to ECG time has reduced to eight minutes as compared to 15-16 minutes before CVI analytics tools. Also, with the advent of new analytics software the report data can be used quickly analysed to provide immediate results.
Source: OBRC Analysis
The report is widely segmented on the basis of components, system type, mode of operation and application. Components is further segmented into:
- Software Components
- Hardware Components
- Service Components
System is sub-segmented into:
- CVIS
- CPACS
The end-user segment is further sub-segmented into:
- Hospitals
- Diagnostic centers
Mode of Operation is sub-segmented into:
- Web-Based CVIS
- Onsite CVIS
- Cloud-Based CVIS
Application is sub-segmented into:
- Catheterization Lab CVIS Solutions
- Echocardiography Lab CVIS Solutions
- Electrophysiology Lab CVIS Solutions
- Nuclear Cardiology CVIS Solutions
- Cardiothoracic Centre CVIS Solutions
- Ecg/Holter Monitoring CVIS Solutions
- Pacemaker/lCD Lab CVIS Solutions
- Heart failure Centre CVIS Solutions
- Outpatient clinic CVIS Solutions
- Other Applications Solutions
The revenue for the above application and end-user segments are specific to the global cardiovascular information system market. However, the total revenue of these application and end-user in general has been excluded from the scope of the report. Also, the total market revenue has been calculated by summing up component segment.
Geographically, the global CVIS market is segmented into:
- North America (U.S. & Canada)
- Asia-Pacific (China, India, Japan, RoAPAC)
- Europe (UK, France, Germany, RoE)
- Rest of the World
The report provides an extensive segmentation of the global cardiovascular information system market which includes segmentation by cardiology specialty applications, system type, component, mode of operations, and end user. The various Cardiology speciality applications include catheterization lab CVIS solution, echocardiography lab CVIS Solution, electrophysiology lab CVIS solution, nuclear cardiology CVIS solution, cardiothoracic center CVIS Solution, ECG studies/Holter monitoring CVIS solution, Pacemaker/ICD lab CVIS solution, heart failure centers CVIS solution, outpatient clinics CVIS solution, and other applications.
On the basis of end user, the market is segmented into hospitals and diagnostic centres. v. The significant increase in investment in hospitals by both public and private sectors, the purchasing power of hospitals is higher than that of diagnostic centers. The segment is also expected to grow at highest CAGR during the forecast period.
By system, the global cardiovascular information system market is segmented as CVIS and CPACS. Currently, the market is dominated by CVIS and the segment is expected to grow at the highest CAGR. CVIS has made immense contribution in improving the workflow and process. CVIS are comparatively more data driven than CPACS. Moreover, they have the ability to provide dynamic reporting (images, informatics, measurements, etc.) that are structured in a template-type format for efficiency and consistent delivery of patient reports. On the other hand, CPACS mainly focuses on storing and retrieving cardiology – centric images.
On the basis of component, the market is segmented into software, services, and hardware. Software segment contributes to highest share of the total market share. The growing adoption of cloud based services by the hospitals and development of government regulations for data protection and data security is expected to drive the growth of service segment during the forecasted period of 2016-2023. Also increasing focus of hospitals on the development of IT infrastructure is expected to give rise to the hardware segment. However, the report projects the service component to grow at the highest CAGR during 2016-2023
The global cardiovascular information systems market is dominated by North America with approx. 38% market share, followed by Europe. During the forecast period, Asia Pacific is expected to grow at the highest CAGR. China, India, Japan, and Australia are expected to lead the APAC market by 2023. However, North America will continue to lead the global CVIS market in the forecast period.
The major market players of the global CVIS market are:
- PHILIPS HEALTHCARE
- MERGE HEALTHCARE
- SIEMENS HEALTHCARE
- FUJIFILM MEDICAL SYSTEMS
- MCKESSON CORPORATION
- CERNER CORPORATION
Major players in the cardiovascular information systems market include Philips Healthcare, McKesson Corporation, GE Healthcare, Siemens Healthcare, Merge Healthcare, Lumedx, Agfa Healthcare, Fujifilm Medical Systems, Digisonics, and Cerner Corporation. In the current market scenario, most of the CVIS vendors are focusing to build a single point of access with an integrated or single platform with multiple software modules. They are working towards consolidation of their cath lab reporting, electrocardiogram (ECG) management, hemodynamics, echo PACS (picture archiving and communication systems), nuclear medicine, advanced visualization imaging, and other specialty modalities into a single CVIS. The key players are focusing on new product developments, partnerships, expansions, collaborations and R & D investments.
For instance, Philips acquired Spectranetics Corporation, the leader in vascular intervention on 28th of June, 2017. By this acquisition Philips accelerated the expansion of image-guided therapy devices for the treatment of cardiac and other vascular disease. Also, Philips acquired Tom Tec imaging systems on 18thjuly 2017. Ton tec imaging system company is a provider of intelligent image analysis software for diagnosticultra sound.
Why to buy the report:
This report will:
- Provide you the business strategies adopted by market player such as in Philips acquired Spectranetics Corporation on 28Th of June 2017.
- Provide in detail the different segments such as application and end-users which affect the global cardiovascular information system market.
- Provide you the patent analysis of the global cardiovascular information system market.
- Identify and understand the strengths, opportunities, challenges and threats of the global cardiovascular information system market.
- Provide revenues of major players of the market such as Philips healthcare, Merge healthcare.
- Provide you various regulatory policies which affect the global cardiovascular information system market.
How we are different from others:
At Occams we provide an extensive portfolio which is comprehensive market analysis along with the market size, market share, and market segmentations. Our report on global Cardiovascular information system Solutions market offers the longest chain of market segmentation covering major market segmentation based on products and end users. The report tracks the major market trends in the global cardiovascular information system market such as growth and innovations in products & equipment’s and rising demand for technically progression & diagnosis of diseases and so on. For each market segments covered in global cardiovascular information system report, we provide opportunity matrix, and DROC analysis, that enable the clear growth assessment across each market segment. The report discusses competitive landscape of the cardiovascular information system industry, with giving extensive strategy analysis of more than 15 companies. Moreover, the report discusses various models such as 360 degree analysis, See Saw analysis, and Porter five force model and so on. For the high level analysis in the report we provide a comparative analysis of historic and current year data.
Key findings of global cardiovascular information system market are as follows:
- North America generated the largest revenue share in 2016.
- Merger & Acquisition is the key strategy adopted by the various market players of global cardiovascular information system market.
