The global cardiovascular information system market is witnessing significant growth due to increasing prevalence of cardiovascular diseases, growing government initiates towards electronic health record system implementation and growing rate of medication errors. The remote access to data and images, and reduced IT burden in the diagnostic center and hospitals are supporting the demand of CVIS. Moreover, better interoperability and increasing healthcare cost are further expected to boost the market. Based on mode of operation, web-based segment leads the global market in terms of size, owing to high rate of awareness, improved interoperability, reduced IT burden in hospitals and relatively less cost. Based on component, the market for service segment is expected to grow at the fastest rate during the forecast period, due to upgradation of services for the complex software introduction and requirement for extensive training.
The increasing demand for cloud based solutions is expected to create opportunities for the players in the market. The unexplored market in developing economies is also creating abundant opportunities for the cardiovascular information system market to grow at a significant rate in the coming years. However, high cost of cardiovascular information, lack of standard healthcare protocol towards implementation of CVIS solution in developing countries and reluctance of healthcare provides to implement cardiovascular information system are the key factors hampering the growth of the global market.
Cardiovascular disease is the disease of heart and blood vessels, which includes conditions such as hypertension, coronary heart disease, heart failure, cerebrovascular disease and rheumatic heart disease. It is the leading cause of premature death around the world. According to the WHO, globally about 17.5 million people died due to cardiovascular diseases in 2012, while the number is expected to reach 23.3 million by 2030.
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The key players operating in the global cardiovascular information system market are Philips Healthcare, McKesson Corporation, Philips Healthcare, General Electric Company, Siemens AG, AGFA Healthcare and Cerner Corporation.