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Global Market for Heart Failure Software for Surge at an Impressive Rate over 2024
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With rising number of patients and expanding geriatric population, the demand for efficient management systems of heart failure patients is expected to increase. Based on type of model, the global market for heart failure software can be categorized into non knowledge based and knowledge based. Currently, demand for the latter is relative higher. However, the major issues related to both the models is the inconsistency faced in the interoperability of the different platforms or systems deployed in the clinical setups and hospitals. On basis of delivery mode, the market can be segmented into cloud-based systems, web-based and on-premises. Among these, cloud based systems is expected to remain highly lucrative. Meanwhile, hospitals are expected to remain the largest end-users of heart failure software. This is largely due to the fact that deployment of remote patient monitoring systems and electronic health records (EHR) has been considerably high in hospitals.
Among regions, North America is likely to lead the global market for heart failure software over 2024. This mainly attributed to the presence of an advanced healthcare infrastructure in the region. The U.S. currently represents the largest portion of the market share of the region. This is also partly due to increase awareness regarding availability of advanced intensive care and monitoring technology. Europe is the second largest market for heart failure software while Asia-Pacific hold the third position. The market in Asia Pacific is expected to register a robust growth over the next couple of years owing to factors such as increasing disposable income, growing awareness about wearable monitoring health devices and favorable government policies. Moreover, increasing market penetration by virtual healthcare technologies such as e-health, m-health and tele-health is making a positive impact on the region’s market. In the forthcoming years, the region is expected to attract more investments for market players and stakeholders. India and China are expected to be the two most attractive market in the region.
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A majority of market players are focusing on improving the technology as well as make it more cost-effective. In near future, companies are expected to introduce more compact, user-friendly, and comfortable equipment for monitoring and management of heart failure patients. Some of the leading players operating in the global market for heart failure include 4S Information Systems Ltd., CitiusTech Inc., Cerner Corporation, and Axis Clinical Software, Inc.
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