Cardiovascular Information System Global Market Report 2024

The cardiovascular information system market size has grown strongly in recent years. It will grow from $1.06 billion in 2023 to $1.16 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. The growth during the historic period can be attributed to the integration of electronic health records (EHR), the necessity for workflow optimization, patient engagement and empowerment initiatives, the burden of cardiovascular disease, and efforts towards interoperability and data exchange.

The cardiovascular information system market size is expected to see strong growth in the next few years. It will grow to $1.66 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The growth in the forecast period can be attributed to value-based care initiatives, advancements in artificial intelligence and machine learning, emphasis on cybersecurity and data privacy, and the implementation of remote cardiac rehabilitation programs. Major trends expected during the forecast period include the adoption of cloud-based solutions, advanced analytics and reporting capabilities, integration of telemedicine services, utilization of artificial intelligence and automation, and strengthened cybersecurity measures.

The increasing prevalence of cardiovascular disease patients is expected to drive the growth of the cardiovascular information system (CVIS) market in the foreseeable future. Cardiovascular disease (CVD) encompasses a group of conditions characterized by narrowed or blocked blood vessels, which can lead to various complications including heart attacks, angina, or strokes. Globally, cardiovascular disease has become a significant health concern, attributed to risk factors such as high blood pressure, elevated cholesterol levels, smoking, obesity, diabetes, and sedentary lifestyles. CVIS efficiently manages patient data, facilitates communication among healthcare professionals, and supports quicker and more informed decision-making in diagnosis and treatment. For instance, as reported by the Centers for Disease Control and Prevention in May 2023, the prevalence of coronary heart disease among adults aged 18 and over was 4.6% in 2020, with a slight increase to 4.9% in 2021. Hence, the rising number of cardiovascular disease patients is fueling the expansion of the cardiovascular information system market.

Key players in the cardiovascular information system market are concentrating on developing next-generation insertable monitors to enhance patient outcomes and streamline clinical workflows. These advanced cardiac insertable monitors represent a significant leap in cardiac care, offering improved diagnostic capabilities, enhanced patient comfort, and more effective management of cardiovascular conditions. For example, in October 2023, Boston Scientific Corporation introduced the LUX-Dx II+ Insertable Cardiac Monitor (ICM) System, a next-generation insertable monitor designed for long-term monitoring of arrhythmias associated with conditions such as atrial fibrillation (AF), cryptogenic stroke, and syncope. It features dual-stage algorithms for precise arrhythmia detection, remote programming capabilities for adjustments without clinic visits, and a downloadable app for convenient remote monitoring, thereby enhancing clinical decision-making and patient care.

In February 2021, Intelerad Medical Systems, a Canadian developer of medical imaging platforms, acquired Lumedx Corporation for an undisclosed sum. Through this acquisition, Intelerad Medical Systems aims to offer its customers more comprehensive and advanced digital health solutions, solidifying its position as a leading provider of medical imaging platforms and services. Lumedx Corporation, based in the US, specializes in healthcare analytics and cardiovascular information systems.

Major companies operating in the cardiovascular information system market are McKesson Corporation, IBM Corporation, Medtronic Plc., Siemens AG, Fujifilm Holding Corporation, Koninklijke Philips N.V., GE HealthCare Technologies Inc., Boston Scientific Corporation, Cerner Corporation, Epic Systems Corporation, Carestream Health Inc., Allscripts Healthcare LLC, NextGen Healthcare LLC, Esaote S.p.A., Intelerad Medical Systems Incorporated, Merge Healthcare, Canon Medical Systems Corporation, CareCloud Corp., LivaNova Plc., Lumedx Corporation, Digisonics Inc., Medigy LLC, INFINITT Healthcare Co Ltd., CREALIFE Medical Technology Inc., Epic Systems Corporation.

North America was the largest region in the cardiovascular information system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cardiovascular information system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the cardiovascular information system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Cardiovascular Information Systems (CVIS) are specialized software solutions employed in hospitals to effectively manage and organize patient data concerning heart health. They streamline the management, storage, and analysis of clinical data associated with the diagnosis, treatment, and monitoring of cardiovascular diseases.

The primary components of Cardiovascular Information Systems include hardware, software, and services. Hardware encompasses the physical elements of CVIS, such as servers, workstations, storage devices, and networking equipment. These systems operate through various modes, including web-based, cloud-based, and on-site setups. They find application in various medical procedures such as catheterization, echocardiography, electrocardiograms, electrophysiology, among others. Additionally, they are utilized by a range of end-users, including hospitals, clinics, cardiac catheter labs, ambulatory surgical centers, and diagnostic centers.

The cardiovascular information systems market research report is one of a series of new reports that provides cardiovascular information systems market statistics, including cardiovascular information systems industry global market size, regional shares, competitors with a cardiovascular information systems market share, detailed cardiovascular information systems market segments, market trends, and opportunities, and any further data you may need to thrive in the cardiovascular information systems industry. This cardiovascular information systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The cardiovascular information systems market consists of revenues earned by entities by providing services such as cardiac imaging management, workflow management, reporting and analytics, remote access, and telemedicine. The market value includes the value of related goods sold by the service provider or included within the service offering. The cardiovascular information systems market also includes sales of products including MRI scanners, fetal and maternal monitors, anesthesia machines, digital IVUS catheters, and oxygen concentrators. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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