A Look into Cardiovascular Information System (CVIS) Industry……Deep Analysis…..


The global cardiovascular information system (CVIS) market is expected to reach USD 1.2 billion by 2024, according to a new report by Grand View Research Inc. The global cardiovascular devices industry is growing swiftly owing to the increasing prevalence of heart diseases and other cardiovascular problems.
In accordance with the growing patient population there is an exponential surge in the patient history documents and patient data records. The resultant,rising burden of patient data is pushing forward the demand for effective management tools; thus, offering increased accessibility of patient information to surgeons and the healthcare staff and hence enhancing the operational efficiency of the practices. In addition, factors, such as technological advancements and the gradually growing awareness regarding the availability of these improved systems are expected to fuel the growth of the cardiovascular devices market.
However, factors,such as high system costs and the lack of skilled operators are impeding the overall growth. In addition, the presence of alternative data management tools is challenging the adoption of the information systems specific to cardiovascular data management. Some of the key players in the market are implementing strategies to expand market share. For instance, companies, such as Philips Healthcare and GE Healthcare offer CVIS systems along with their cardiac imaging products. 
The global cardiovascular information system (CVIS) market was valued at USD 616.7 million in 2015. The increasing number of challenges associated with cardiovascular care including the management of large amount of data, data retrieval, and the maintenance of patient history records is creating the need for advanced systems, such as Electronic Health Record (EHR) systems, which would facilitate data analysis.
The swift growth of the global cardiovascular devices industry is mainly attributed to the escalating global count of patients suffering from cardiovascular diseases and disorders coupled with the rising demand for productive data management tools in the cardiac care departments.
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Further key findings from the study suggest:
·         The CVIS segment captured the largest market share of the global market in 2015. Integration of these systems with imaging devices is responsible for the highest adoption rate of this segment.
·         Owing to the high cost of these systems, the CVIS segment is expected to maintain its dominance during the forecast period
·         The cloud-based segment is anticipated to exhibit the fastest growth rate during the forecast period. The associated advantages, such as the affordable cost, remote accessibility of data, and the user friendly interface, are expected to fuel the adoption of the cloud-based mode of operation.
·         North America capturedthe largest market share of around 36% in 2015. The dominance of the segment is expected to continue with a CAGR of 5.8% from 2016 to 2024.
·         The factors contributing to the growth of the North America market include the increasing prevalence of heart diseases and the technological advancements in the region. Moreover, factors, such as the availability of highly advanced healthcare facilities and the higher adoption rate of the data management tools are augmenting the market growth in North America.
·         Asia Pacific is anticipated to grow at the fastest rate during the forecast period. Countries, such as India and China are expected to be the fastest growing markets in the region owing to the large pool of cardiovascular patients and the rising healthcare expenditure.
·         The booming medical tourism in Asia Pacific due to the availability of advanced healthcare facilities and services at a lower cost in comparison to the other developed countries serves as the pivotal factor in attracting cardiac patients worldwide to this region.
·         Some major players in this market include Philips Healthcare, GE Healthcare, McKesson Corporation, Siemens Healthcare GmbH, Merge Healthcare, Inc., Agfa Healthcare N.V., Cerner Corporation, Fujifilm Medical Systems, Inc., Lumedx Corporation, and Digisonics, Inc.
Additionally, the introduction of technically advanced products and the rising trend of telemedicine are expected to boost the market growth. CVIS enables cardiac surgeons as well as hospital administrators to work more efficiently than with traditional data management techniques.
The utility of the system is further maximized when used in combination with the other technologies, such as Cardiology Picture Archiving and Communication System (CPACS). The market is projected to experience a rapid growth owing to factors, such as high adoption rates and the growing awareness of the availability of these systems.
However, determinants, such as high device cost and the need for skilled professionals to handle devices is expected to hinder the global growth. Moreover, the reluctance to shift from traditional data storage tools to advanced techniques is augmenting the degree of restraints for the growth of this market.
Based on the system types, cardiovascular information system market is segmented into Cardiovascular Information System (CVIS), Cardiology Picture Archiving and Communication System (CPACS). The CVIS systems facilitate effective data analysis and they enable physicians to take accurate therapeutic decisions in less time as compared to the CPACS. Thus, the adoption of CVIS was observed to be higher than CPACS. As a result, CVIS segment accounted for the largest market share in 2015 and this segment is expected to maintain its dominance throughout the forecast period.
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The CVIS market has been further categorized based on the mode of operations into web-based, on-site, and cloud-based. The web-based segment accounted for the largest market share in 2015. The high rate of awareness and the relatively cheaper cost are some of the prime factors resulting in the wide adoption of the web-based mode of operation for cardiovascular information systems, globally. However, the cloud-based segment is anticipated to show the fastest growth rate during the forecast period from 2016 to 2022.
Grand View Research has segmented the cardiovascular information system (CVIS) market on the basis of system type, mode of operation.
Cardiovascular information system market, by system, 2013 - 2024 (USD Million)
·         CVIS
·         CPACS 
Cardiovascular information system market, by mode of operation, 2013 - 2024 (USD Million)
·         Web-based
·         On-site
·         Cloud-based 
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.


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