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Increasing Prevalence of Cardiovascular Diseases to Augment the Cardiovascular Information System Market Growth
Cardiovascular Information System Market
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Cardiovascular information system is used to store, archive, and share healthcare information. It is a unique software solution that helps improve the clinical and financial performance of cardiology department. When it comes to cardiac care, immediate access to complete patient information is key to improving both patient care and workflow. Moreover, cardiovascular information systems help improve workflow in hospitals and thus improve quality patient care.
Market Dynamics:
Increasing incidence and prevalence of cardiovascular diseases (CVDs), especially in the North America, is expected to propel the growth of the cardiovascular information system market. For instance, according to the Centers for Disease Control and Prevention (CDC), one person dies every 36 seconds in the United States from cardiovascular disease. Heart disease is the leading cause of death for men, women, and people of most racial and ethnic groups in the United States.
Moreover, increasing focus on operational excellence and the increasing implementation of cardiovascular information system (enables healthcare providers to reduce healthcare costs) is expected to augment the growth of the cardiovascular information system market. Furthermore, shift from electronic medical records (EMR) to cardiovascular information system (CVIS) is one of the key trend in the cardiovascular information system market.
Increasing technological advancements such as adoption of vendor neutral archive technology is also expected to fuel the growth of the cardiovascular information system market. However, the high cost of cardiovascular information system and reluctance of healthcare providers to implement cardiovascular information system is expected to restrain the growth of the cardiovascular information system market.
Major players in the market are involved in different growth strategies, such as partnership and collaboration, to strengthen their market presence. For instance, in February 2021, NTT Research, Inc. collaborated with Japan’s National Cerebral and Cardiovascular Center (NCVC) to develop cardiovascular disease-related computational models, implement them on a bio digital twin platform and develop applications for use by physicians and patients.
Competitive Analysis:
Major players operating in the cardiovascular information system market are Agfa Healthcare, Digisonics Inc., Lumedx, Fujifilm Holdings Corporation, IBM (Merge Healthcare), Siemens Healthineers, Koninklijke Philips N.V., GE Healthcare, and McKesson Corporation.
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