Business & Finance
Global Cardiovascular Information Systems Market to Reach USD 1.218bn by 2024, Persistence Market Research Forecasts
3 March 2017 - - The global cardiovascular information systems market is valued at close to USD 700m, and will grow at 7.3% CAGR by bringing in around USD 1.218bn till the end of 2024, according to a new report from US-based third-platform research firm Persistence Market Research.

As the global healthcare industry addresses a paradigm shift towards coordinate care services, medical practitioners are compelled to develop databases for structuring case studies in the future.

This necessitates the need for recording essential information on prevalent disorders such as cardiovascular diseases.

A study developed by Persistence Market Research predicts that the demand for cardiovascular information systems will keep surging in the upcoming decade.

There is a growing adoption of Vendor Neutral Archive technology. Almost every other CVIS solution in the market is likely to be fully-compatible with the VNA technology.

Sharing, storing and archiving medical information from more than 20 specialties and generating ideal CVIS solutions makes Vendor Neutral Archive an integral part of cardiovascular information systems.

Consolidation of HIT solutions in the global healthcare industry is incidentally fuelling the adoption of cardiovascular information system solutions.

Hospitals and medical institutes are not shying away from installing advanced CVIS solutions, thanks to favorable legislative acts implemented by governments around the world.

For instance, the Health Information Technology for Economic and Clinical Health (HITECH) Act of 2009 has been instrumenting bn-dollar investments towards development of electronic information systems that use medical records for important clinical purposes.

The report regards hospitals, clinics and cardiac cath labs are largest end-users of cardiovascular information systems in the world.

And, an unwavering growth in infrastructure of such healthcare organizations has been projected to play a major role in driving the sales of CVIS solutions. Correspondingly, robust healthcare infrastructure in the US and Canada has helped in orchestrating North America's dominance in the global CVIS market.

In 2016, nearly 40% of global CVIS revenues were accounted by North America.

The demand for cardiovascular information systems is also expected to rise in Asia Pacific and Europe, while Latin America and Middle East and Africa will register a comparatively sluggish revenue growth through 2024.

The report also reveals that over 50% of global CVIS market revenues will be attributed by services.

Adoption of cardiovascular information services will be fairly higher than the combined sales of hardware and software components.

Demand for integrated software is also expected to surge, while adoption of CVIS maintenance services will gain traction through 2024.

During the forecast period, eight out of ten cardiovascular information systems sold in the world will be cloud-based. Global deployment of cloud-based CVIS solutions will bring in a little over USD 1bn by the end of 2024.

And, the report also estimates that in 2017 and beyond, almost every other CVIS solution adopted across the globe will serve as an application for catheterization, echocardiography, and electrocardiogram.

Although, global revenues emanating from the application of cardiovascular information systems in electrophysiological applications will soar at a high CAGR of 7.7%.
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