Cardiovascular Information System Market to Witness Vigorous Expansion by 2024 | Key Players: Philips Healthcare, GE Healthcare, Siemens, McKesson & Cerner | Million Insights

Cardiovascular Information System Market to Witness Vigorous Expansion by 2024 | Key Players: Philips Healthcare, GE Healthcare, Siemens, McKesson & Cerner | Million Insights

PR Newswire

FELTON, California, April 28, 2020

FELTON, California, April 28, 2020 /PRNewswire/ -- The global cardiovascular information system (CVIS) market was valued at USD 616.7 million in 2015 and is anticipated to reach USD 1.2 billion by 2024. Global Cardiovascular information system (CVIS) market is expected to grow in coming years owing to the increasing incidence rate of cardiovascular disorders thereby pushing the need for streamlining the cardiac care workflow systems. Factor such as growing need to integrate CVIS with CPACS and EMR and other cardiology modules is anticipated to fuel the product segment. A cardiovascular information system is a data-driven system in which research material and clinical information software along with scientific advancement data are stored. It is a patient driven informatics obtained from ECG and EKG, Haemodynamic system and echo machines coupled with inventory, business analytics, and billing mechanisms. With reducing reimbursements, healthcare providers are striving to have a cost curbing solutions such as CVIS. However, the greater emphasis on EHR implementation and initial high cost of CVIS implementation are expected to be growth impeding factor during the forecast period.

The increasing need for ease to access data in numerous healthcare institutes for the fast and effective treatment of the patients in expected to stimulate the product demand over the next seven years. The amalgamation of reports, images, measurements and waveforms into the patient's record assists to create an information management and enterprise medical imaging solution in a proficient manner. An integrated cardiac EMR in one database offers a single point of access to the historical and current cardiac information and images, including ECG and haemodynamic data. Customizable reporting tools for the electrophysiology labs and cath, vascular and echo departments, ECG department and nuclear cardiology department make it possible for users to quickly document and analyze care practices. Workplace quality web access to report completion and procedures enables users to carry out a variety of clinical care tasks from isolated locations.

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Cardiovascular information system aims to approve an advanced level of evidence-based proficient standards in cardiac recovery. The system is an integrated haemodynamic system which is data-driven patient informatics it is capable of storing all the information related to cardiovascular disease patient. For efficient recording and reporting patient information all the information is stored in CVIS. In addition, the business operations including business analytics and making bill which are conventionally managed by the separate computer system and can also be managed and stored by undertaking the system. Further, the product is also capable of providing dynamic reporting such as measurements, images, and informatics that are structured in a template design for reliable delivery and effectiveness of patient reports. With the implementation of CVIS cardiologists have observed a noteworthy reduction in report delivery time.

CVIS market is studied with respect to three different segments such as application, delivery mode, and component. CVIS industry by application is further segmented into echocardiography lab solutions, catheterization lab solutions, vascular lab solutions and ECG data management solutions. A component segment of CVIS market is studied with respect to hardware, services, and software. CVIS market by delivery mode is further classified into a web hosted, cloud-based and on premise market. CVIS acts as a single platform, single storage solution having single point entry to physicians, cardiologist administrators regardless of users location. Clinical benefits include accessibility of patient's clinical history to the cardiologist prior to the procedures thereby nullifying the need of doctor leaving critical ill patient's bedside. Business benefits of CVIS allow administrators to manage statistical reporting, inventory, billing and overall workflow in a live environment.

Higher occurrence rate of cardiovascular diseases coupled with technological advancements are helping North American market to be most mature during the forecast period. The European market is expected to follow North American market. Asia pacific CVIS market is expected to experience a lucrative growth on account of rapidly improvising healthcare infrastructure, untapped opportunity and increasing penetration. The major participants operating in the cardiovascular information system market include Philips Healthcare, GE Healthcare, Siemens, McKesson Corporation, Cerner Corporation, Fujifilm Medical Systems, Digisonics, Agfa Healthcare and Merge Healthcare.

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