Cardiology Information System (CIS) Market Forecasts to 2028 – Global Analysis By Systems (Integrated Systems, Cardiology Information System, Cardiology PACS and Standalone Systems), Component (Software, Hardware and Services), Mode of Operation (Web-Base

Cardiology Information System (CIS) Market Forecasts to 2028 – Global Analysis By Systems (Integrated Systems, Cardiology Information System, Cardiology PACS and Standalone Systems), Component (Software, Hardware and Services), Mode of Operation (Web-Based and On-Premise), End User and Geography

According to Stratistics MRC, the Global Cardiology Information System (CIS) Market is accounted for $1049.37 million in 2022 and is expected to reach $1828.81 million by 2028 growing at a CAGR of 9.7% during the forecast period. A cardiology information system (CIS) is a software-based gathering of clinical data. This data is acquired digitally by the software. It assists end users in making various decisions as well as advancing knowledge and exchanging information in the field of cardiology. The need for cardiovascular information systems has expanded in recent years due to their dependability, the information they provide, and the graphics captured in the reports. The information is arranged in such a way that patient reports are sent on time and accurately.

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.

Market Dynamics:

Driver:

Rise in the number of hospitalized patients

The increase in the number of hospitalised patients diagnosed with heart illnesses such as stroke and coronary heart disease will boost the expansion of the cardiology information system (CIS) business in the future years. Furthermore, a significant increase in government initiatives and an increasing requirement for diagnosing heart function to prevent prescription errors are expected to drive the demand for electronic health record systems. This, in turn, will drive the expansion of the cardiology information system (CIS) market over the forecast period.

Restraint:

Expensive to install and maintain

The high cost and maintenance associated with Cardiology information systems is a major market restricting factor. The need for cardiovascular information systems has expanded in recent years due to their dependability, the information they provide, and the graphics captured in the reports. However, as demand grows, the installation costs of the systems rise. Following installation, another component that requires frequent oversight of the systems is maintenance; also, an need for high technological requirements with knowledge about the systems are the reasons the global cardiovascular information system market growth is hampered.

Opportunity:

Government initiatives

Government initiatives to promote the use of electronic health record (EHR) systems that facilitate data analysis in healthcare settings are supporting market expansion. For example, in May 2017, the government entity National Health Portal (NHP) India launched an EHR system that was implemented by healthcare providers and hospitals. Furthermore, an expert group was formed to develop EHR Standards and oversee their implementation across the country.

Threat:

Strict regulatory obedience

Strict regulatory framework, integration and interoperability will challenge the cardiology information system (CIS) market. However, the dearth of standard protocols will act as restrain and further impede the growth rate of market. Though rapid urbanisation, changing lifestyle and rise in the level of disposable incomes in developing and developed countries will influence the growth rate of cardiology information system (CIS) market. Along with this, companies also have to deal with strict regulatory obedience, which is affecting the growth negatively.

Covid-19 Impact

COVID-19 increases the need for medical supplies such as masks, gloves, and protective eyewear significantly. As the number of COVID-19 cases grows worldwide, so does the demand for medical supplies from both healthcare professionals and the general public for preventative measures. Manufacturers of these items can profit from expanding medical supply demand by providing a stable supply of personal protective equipment in the cardiac information system (CIS) business.

The software segment is expected to be the largest during the forecast period

The software segment is estimated to have a lucrative growth, 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. A cardiology information system (CIS) is a software-based collection of clinical data. This data is entered into the software in a digital format. Software provides wide range of access to medical history of patients including data, and the workload shift for the IT team of hospitals and other end users

The web-based segment is expected to have the highest CAGR during the forecast period

The web-based segment is estimated to have a lucrative growth, due to various reasons such as greater healthcare awareness, enhanced interoperability, remote access to data and pictures, as well as substantially shorter treatment times, reduced IT burden in hospitals, and cost. Moreover, the rise in the number of research and development activities associated with cardiology information system (CIS) and increasing use of web-based technology will provide beneficial opportunities for the cardiology information system (CIS) market growth.

Region with highest share:

North America is projected to hold the largest market share during the forecast period owing to the increase in healthcare expenditure, high prevalence of cardiovascular diseases such as CAD, strokes, atrial fibrillation and rise in the adoption rate of advanced technology in this region. Furthermore, a steep increase in expenditure and growing pressure to deliver better health outcomes at lower costs and standardise processes, enhance consistency in diagnosis and outcomes in established healthcare providers demand a single integrated solution fuelling the market throughout the projection period.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period, owing to the increasing awareness about number of applications in this region. China plays a vital role in propelling the market’s growth rate owing to increasing number of population, technological advanced and growing government support for healthcare sector. In addition, the growth is further attributed to increase in population and rise in spending of healthcare facilities. Also, the increase in the setups of research and development centers, along with the rise in the number of partnerships and collaborations, is driving the growth of this region.

Key players in the market

Some of the key players profiled in the Cardiology Information System (CIS) Market include CREALIFE Medical Technology, INFINITT Healthcare Co Ltd, Central Data Networks PTY Ltd, Esaote SpA, Koninklijke Philips N V, Lumedx, Fujifilm Medical Systems, GE Healthcare, IBM, McKesson Corporation, Siemens Healthcare GmbH, Digisonics, Inc., Intelerad Medical Systems Incorporated and Cerner Corporation

Key Developments:

In September 2019, LUMEDX has announced a new comprehensive cardiovascular information system at Major Academic Medical Centre. This project was started in 2014 and was completed in three phases under the name of Duke-LUMEDX.

In September 2019, Fujifilm has expanded the information system provider business by signing an acquisition with Yokogawa Medical Solutions.

Systems Covered:
• Integrated Systems
• Cardiology Information System
• Cardiology PACS
• Standalone Systems

Components Covered:
• Software
• Hardware
• Services

Mode of Operations Covered:
• Web-Based
• On-Premise

End Users Covered:
• L3a Hospitals
• L3B Hospitals
• L2 Hospitals

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements