Cardiology Information System Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Market is Segmented by Mode of Operation (Web-Based and On-Premises), Component, End-User and Geography

Market Snapshot

cardiovascular-information-system-market_Market Summary
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: >9.2 %

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Market Overview

The Cardiology information system (CIS) market studied was anticipated to grow with a CAGR of nearly 9.2% during the forecast period. The major factors attributing to the growth of the market are an increased volume of hospitalized patients diagnosed with cardiovascular diseases such as coronary heart diseases and stroke. For instance, according to the American Heart Association report published for the year 2019, cardiac diseases like coronary heart disease, hypertension, and stroke were ranked as the highest cause of deaths in the US. Thus, owing to the rise in government initiatives and increased demand for the evaluation and monitoring of cardiovascular functioning over a period to avoid medication errors necessitating the electronic health record system is likely to fuel the market over the forecast period.

Scope of the Report

Cardiology information system (CIS) is a single digitized platform of research material software architecture and clinical data that facilitates develop effective ways of improving efficiency in the cardiovascular study. The CIS enables cardiologists to take an accurate therapeutic decision in less time while maintaining high levels of patient care and reduced costs of treatment. The CIS includes two major systems referred to as Cardiology Picture Archiving and Communication Systems (CPACS) and the Cardiovascular Information Systems (CVIS). CPACS mainly focus on storage and retrieval of cardiology-centric images while CVIS is more data-driven and relevant to the patient informatics coming from integrated hemodynamics system, echo machines, Electrocardiogram (ECG) carts.

Mode of Operation
Web-Based
On-Premises
Components
Hardware
Software
Services
End-user
Hospital
Ambulatory Surgical Centers
Others
Geography
North America
United states
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

The Web-based Operations by Mode of Operation Segment is Expected to Hold the Largest Market Share in the CIS Market

  • The web-based operations segment is expected to account for the largest share of revenue in the overall cardiovascular information system market throughout the forecast period. The significant share in terms of revenue can be attributed to various factors such as high rate of healthcare awareness, enhanced interoperability, remote access to data and images along with the relatively reduced time of treatment, reduced IT burden in the hospitals and cost are likely to drive the CIS market over the forecast period.
  • Based on components, the software segment witnesses the largest market share in the forecast period due to the rising demand along with the consequent rise in the volume of hospitals necessitating the integration of CVIS with CPACS, Electronic Medical Records (EMRs), ECG carts and other cardiology modules. On the other hand, the service segment is anticipated to grow at the fastest rate during the forecast period owing to the necessity to upgrade with the available services to introduce the complex software and train healthcare professionals propelling the global market revenue.
CVD Deaths in The US by Year in Millions

North America Dominates the Market and Expected to do Same in the Forecast Period.

  • North America is expected to dominate the overall cardiology information system market throughout the forecast period. The dominance is due to a rise in the global prevalence of cardiovascular indications like CAD, strokes, atrial fibrillation and higher adoption of technology in the region. For instance, according to the American Heart Association, in 2018, nearly 92.1 million individuals in the U.S. suffered from cardiovascular diseases resultant higher demand for better treatment technologies driving the market in the United States. Also, a steep rise in expenditure and an increased pressure to achieve better health outcomes at lower costs and standardize practices, improve consistency in diagnosis and outcomes in established healthcare providers necessitate a single integrated solution fueling the market throughout the forecast period.
  • Asia Pacific region is set to grow at the fastest rate during the forecast period, driven by enhanced awareness about the application of in countries such as China, India, and Japan. China plays a pivotal role due to its high population, technological advancements and high extent of government support to the healthcare sector fueling the market.
Cardiology Information System Market - GEO

Competitive Landscape

The cardiology information system market is moderately competitive and consists of several major players. Some of the companies are expanding their market position and while others are adopting various strategies such as acquisitions, mergers, introducing new products and upgrading the technologies to maintain their market position. For Instance, In February 2019 Philips launched IntelliSpace Cardiovascular 4.1, its next-generation cardiovascular image and information management system which provides a holistic view to facilitating better-informed decision-making while delivering on the quadruple improved patient and staff experience, better health outcomes and lower costs of care expanding its market globally. Few of the major players currently dominating the industry in terms of revenue are CREALIFE Medical Technology, Koninklijke Philips N V, Esaote SpA, Infinitt Healthcare Co Ltd, and  Central Data Networks PTY Ltd.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Rise in Global Prevalence of Cardiac Diseases and Increased Stroke Related Deaths

      2. 4.2.2 Growing R&D Activities to Develop Novel Technologies in Cardiac Stroke Management

    3. 4.3 Market Restraints

      1. 4.3.1 The High Cost of Systems and Stringent Regulatory Framework

      2. 4.3.2 The Reluctance of Healthcare Providers to Implement CIS due to Lack of Standard Protocol

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Mode of Operation

      1. 5.1.1 Web-Based

      2. 5.1.2 On-Premises

    2. 5.2 Components

      1. 5.2.1 Hardware

      2. 5.2.2 Software

      3. 5.2.3 Services

    3. 5.3 End-user

      1. 5.3.1 Hospital

      2. 5.3.2 Ambulatory Surgical Centers

      3. 5.3.3 Others

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United states

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Mexico

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 France

        4. 5.4.2.4 Italy

        5. 5.4.2.5 Spain

        6. 5.4.2.6 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 Australia

        5. 5.4.3.5 South Korea

        6. 5.4.3.6 Rest of Asia-Pacific

      4. 5.4.4 Middle-East and Africa

        1. 5.4.4.1 GCC

        2. 5.4.4.2 South Africa

        3. 5.4.4.3 Rest of Middle-East and Africa

      5. 5.4.5 South America

        1. 5.4.5.1 Brazil

        2. 5.4.5.2 Argentina

        3. 5.4.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Central Data Networks PTY Ltd

      2. 6.1.2 CREALIFE Medical Technology

      3. 6.1.3 Digisonics Inc

      4. 6.1.4 Esaote SpA

      5. 6.1.5 Fujifilm Holdings Corporation

      6. 6.1.6 General Electric Company

      7. 6.1.7 Infinitt Healthcare Co Ltd

      8. 6.1.8 Koninklijke Philips N V

      9. 6.1.9 McKesson Corporation

      10. 6.1.10 Siemens AG

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies, and Recent Developments

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Frequently Asked Questions

The Cardiology Information System Market market is studied from 2018 - 2026.

The Cardiology Information System Market is growing at a CAGR of >9.2% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Koninklijke Philips N V, Esaote SpA, INFINITT Healthcare Co Ltd, Central Data Networks PTY Ltd, CREALIFE Medical Technology are the major companies operating in Cardiology Information System Market.

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