Rising Number of Patients Worldwide with Cardiovascular Illnesses Driving Demand for Cardiovascular Information Systems: Fact.MR Report
Rising Number of Patients Worldwide with Cardiovascular Illnesses Driving Demand for Cardiovascular Information Systems: Fact.MR Report
The global Cardiovascular Information System Market, estimated at US$ 1.21 billion for 2024, is projected to expand at a CAGR of 7.4% from 2024 to 2034.Factors such as high acceptance rates and rising awareness of these systems' benefits contribute to market growth.
Cardiovascular treatment is becoming more and more complicated, requiring sophisticated systems like electronic health records (EHRs) to manage massive volumes of data, retrieve data, and keep patient history records, among other things. Growing demand for cardiovascular devices is primarily driven by the rising number of patients with cardiovascular illnesses and disorders worldwide as well as the increased need for efficient data management solutions in cardiac care units.
CVIS is a groundbreaking instrument that improves cardiac patient care efficiency. The technology enables enhanced workflow management, precise diagnostic capabilities, and patient safety by combining enormous volumes of data in real-time. When taken as a whole, these elements help doctors make well-informed treatment choices. Furthermore, the market generates lucrative opportunities for players given the growing remote medical data accessibility and the move toward zero-footprint systems.
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Cardiovascular Information System Market News & Trends:
Leading companies in the cardiovascular information system sector are investing in research and development projects to improve existing technologies. Along with other systems, CVIS development is a top priority for the majority of enterprises. These new systems nonetheless pose a big problem because of their intricate hardware requirements. For this reason, companies give priority to developing systems that work with generally accessible hardware.
IntelliSpace Cardiovascular 4.1, for instance, is a next-generation cardiovascular image and information management system that Philips unveiled in February 2019. This solution provides a thorough viewpoint to facilitate better decision-making while generating better health outcomes, improved staff and patient experiences, and reduced healthcare expenditures. This aids the business in reaching a wider worldwide audience.
Key Takeaways from Cardiovascular Information System Market Study:
The global cardiovascular information system market is estimated at US$ 1.21 billion in 2024. Demand for cardiovascular information systems is projected to rise at a CAGR of 7.4% from 2024 to 2034.
The market is projected to reach US$ 2.49 billion by 2034-end. North America is estimated to account for 41.5% share of the market by 2034. The hardware segment is projected to expand at a CAGR of 7% from 2024 to 2034.
The market in North America is forecasted to expand at a CAGR of 7.7% through 2034. The market in East Asia is projected to expand at a CAGR of 7% from 2024 to 2034.
“Need for cardiovascular information systems has increased as a result of ongoing technological advancements. A significant cause for concern has been the rise in chronic cardiovascular disease prevalence in developing countries in recent years. Due to the widespread prevalence of cardiovascular disease (CVD), there is a substantial volume of data associated with it, making manual handling challenging. By using cardiovascular information systems, healthcare providers may identify patients more precisely and manage patient data more effectively,” says Fact.MR analyst.
Improved Effectiveness and Interoperability of Diagnostic Centers
Rising prevalence of cardiovascular illnesses and the expanding medical industry are major factors propelling the market's expansion. Globally, the number of individuals experiencing cardiac failures, ischemic heart disease (IHD), and arrhythmias is on the rise due to the aging population and sedentary lifestyle choices.
The market is growing at a fast pace due to the adoption of digitalization and advancements in the healthcare information technology (IT) industry. The technology is being used by healthcare organizations to remotely access medical records and photographs, which improves the effectiveness and interoperability of diagnostic centers.
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In February 2023, the Cardiovascular Institute of the South (CIS), an independent cardiovascular practitioner in the United States, teamed up with Lee Equity Partners, a private equity firm based in New York City, to launch Cardiovascular Logistics, a national platform for cardiovascular care.
More Valuable Insightson Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the cardiovascular information system market for 2018 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on component (hardware, software, services), deployment (cloud-based, on-premise), application (catheterization, echocardiography, electrocardiogram, electrophysiology), and end user (hospitals, clinics, cardiac cath labs, ambulatory surgical centers, diagnostic centers), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).
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