Wednesday, August 8, 2018
Global Cardiovascular Information Systems Market is anticipated to flourish at a CAGR of 8.2%
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The latest market report published by Credence
Research, Inc. “Cardiovascular
Information Systems Market -
Growth, Future Prospects, Competitive Analysis, 2018 -
2026,” the global cardiovascular information systems market was
valued at US$ 696.7 Mn in 2017 expanding at a CAGR of 8.2% from 2018 to 2026.
Market Insights
Medical practitioners continue to reap the
benefits of developing healthcare IT which includes electronic medical records
(EMR), picture archiving and communication systems (PACS), cardiovascular
information systems (CVIS) and radiology information systems (RIS) among
others. CVIS are computerized databases that utilized to track, manipulate,
distribute and access patient data and reports. The healthcare industry in the
developed countries are striving to make healthcare solutions paper-free due to
growing integrated medical infrastructure and chronic diseases worldwide.
Browse the full report Cardiovascular
Information Systems Market - Growth, Future Prospects, Competitive Analysis,
2018 – 2026 report at https://www.credenceresearch.com/report/cardiovascular-information-systems-market
According to Medscape survey carried out in
U.S. in 2014, 29% of self-employed cardiologists and 34% of employed
cardiologists spend around 10 hours per week on administrative and paper work.
The healthcare information systems prevents silos of data by allowing the
hospitals and clinics to increase efficiency, standardization of patient care
and review outcomes effectively. The CVIS also provided report structure generation,
influencing physicians to add key elements for better outcomes.
In terms of application, the cardiac and
peripheral catheterization held the largest share in the global cardiovascular
information systems market owing to growing number of coronary angioplasty
procedures carried out worldwide. Moreover, growing procedures of cardiac CT,
ECG and MRA would further increase the demand for CVIS during the forecast
period. Growing cardiovascular diseases globally is the key driver for the
growing demand for cardiovascular information systems market. Cardiovascular
diseases accounts for more than 0.8 million deaths in the U.S. i.e. 1 in 3
deaths in the United States. Moreover, 17.7 million people succumb to CVDs
worldwide. Thus growing prevalence of CVDs at an alarming rate is the major
driving factor of cardiovascular information systems market. In terms of
components, the CVIS software held the largest share due to growing need for
integrated EMR/EHR with CVIS. Growing number of companies offering services and
solution would further drive the market during the forecast period.
North America held the largest market in
cardiovascular information systems market in terms of geography. Major factors
assisting the growth of this region include organized healthcare
infrastructure, higher adoption of CVIS solutions in hospitals and supportive
government guidelines for implementation of healthcare IT systems. For
instance, Healthcare Insurance Portability and Accountability (HITECH) and
American Recovery and Reinvestment Act (ARRA) in U.S. has resulted in higher
adoption of EHRs and EMRs in the country. Moreover, growing prevalence of
cardiovascular diseases in the U.S. would further drive the market. According
to American Heart Association (ASA), more than 92.1 million adults are
suffering from some kind of cardiovascular disease accounting for more than US$
329.7 Bn direct and indirect costs and loss of productivity. Asia Pacific is
projected to exhibit fastest growth rate during the forecast period owing to
growing medical tourism in the region and supportive healthcare IT policies in
China, Japan and Australia. Larger patient pool in the region also assists the
market growth. The prominent players actively engaged in the cardiovascular
information systems market include GE Healthcare, Mckesson Corporation, Siemens
Healthcare, Philips Healthcare, AGFA Healthcare, Merge Healthcare, Fujifilm
Medical Systems, Cerner Corporation, Lumedx, and Digisonics. Partnerships and
collaboration among the companies have helped in the development of innovative
and advanced CVIS solutions. For instance, Ebit partnered Siemens Healthcare to
offer company’s Suitestensa CVIS solution with Siemens’ cardiology systems in
Germany.
Key Market Movements:
- Rising prevalence of
cardiovascular diseases worldwide
- Higher adoption of cardiovascular
information systems in North America and Europe contribute towards the
growth of the market
- Partnerships and collaboration
between technology giants to increase research and development of
healthcare IT solutions
- Growing medical tourism in Asia
Pacific and growing healthcare infrastructure in countries such as China,
Japan, South Korea, Australia and India to boost the market in Asia
Pacific
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Browse the full report Cardiovascular
Information Systems Market - Growth, Future Prospects, Competitive
Analysis, 2018 – 2026 report at https://www.credenceresearch.com/report/cardiovascular-information-systems-market
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