by Cardiovascular information systems (CVIS) are an enterprise-wide clinical information system designed for cardiovascular units, cardiac catheterization laboratories, electrophysiology labs, and vascular labs. CVIS automates and integrates cardiovascular care by combining procedures, results, clinical and patient data within a single electronic medical record system. It helps manage workflows from registration to billing and supports optimal quality of care through standardized procedures, clinical decision support, and analytical reporting.
The global Cardiovascular Information System Market is estimated to be valued at US$ 9.26 billion 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 Dynamics:
The growing need for improved clinical care and patient safety is expected to drive the growth of the cardiovascular information system market during the forecast period. CVIS provides real-time patient data through electronic medical records that help physicians and clinicians make quick clinical decisions and provide improved clinical care. It also reduces medication errors and improves patient safety through clinical decision support systems and standardized workflows. Furthermore, increasing burden of cardiovascular diseases accompanied by the growing adoption of digital healthcare solutions across hospitals globally will also augment the demand for cardiovascular information systems over the forecast period. As per the World Health Organization, cardiovascular diseases account for over 17 million deaths annually and are the leading cause of death globally in 2019.
Segment Analysis
The cardiovascular information system market is dominated by the cardiovascular data management segment which accounts for over 55% share of the total market. This is because cardiovascular data management helps in collection, storage and analysis of patient data across departments and facilities. It also allows integration of hemodynamic, angiographic, echocardiography and other cardiology procedures data in a single platform for further analysis and diagnosis.
PEST Analysis
Political: Governments across the globe are focusing on development of digitized healthcare infrastructure which is driving investments for adoption of CIS solutions. Favorable regulations around data privacy and security are also boosting market growth.
Economic: Growing incidence of cardiovascular diseases due to changing lifestyles and aging population is increasing healthcare spending. This is prompting hospitals and clinics to adopt CIS for better management of high volumes of patient data and improved treatment outcomes.
Social: Rising awareness about advantages of electronic health records and digitized patient data management is positively impacting the cardiovascular information system market. Growing preference for minimally invasive surgeries using advanced imaging techniques is also propelling the demand for CIS.
Technological: Introduction of artificial intelligence, machine learning and cloud computing capabilities in CIS is enhancing data analysis, clinical decision making and remote patient monitoring. Integration of CIS with other hospital IT systems is further optimizing clinical workflow and operations.
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 billion in 2023 and is expected to exhibit a CAGR of 9.3% over the forecast period 2023 to 2030.
Regional analysis indicates North America dominated more than 35% share in 2024 owing to robust healthcare infrastructure and early adoption of advanced CIS solutions across the region. The fastest growing region for cardiovascular information system market is expected to be Asia Pacific due to increasing healthcare expenditure, rising medical tourism and growing pool of cardiac patients in countries like China and India. Governments are undertaking several initiatives to improve digital infrastructure and adoption of health informatics systems across healthcare facilities in the region.
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, Digisonics, Inc., Honeywell Life Care Solutions. Key players are focused on expanding their product portfolios through acquisitions and partnerships. They are also investing in development of AI integrated solutions to gain competitive edge.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
