Cardiology Information System Market - Forecast(2024 - 2030)

Cardiology Information System Market Overview:

The Cardiology Information System Market size is estimated to reach $3.7 Billion by 2030, growing at a CAGR of 7.8% during the forecast period 2024-2030. The purpose of the Cardiology Information System is to collect, manage, and evaluate clinical data associated with the identification, treatment, and management of cardiovascular diseases. Cardiologists, cardiac surgeons, and other medical professionals who treat patients with diseases associated with the heart will find it to be customized to their needs. Cardiology Information System Market is witnessing robust growth due to the increasing prevalence of cardiovascular diseases and the need for efficient management of cardiology-related data. Additionally, increasing adoption of cardiovascular devices, adoption of digital health technologies with the focus on interoperability in healthcare systems and increasing prevalence of obesity cases are driving the market growth of cardiology information systems.

By providing predictive analytics, risk stratification and decision support, the integration of artificial intelligence (AI) and advanced analytics is revolutionizing the Cardiology Information System (CIS) market. Large volumes of cardiovascular data can be analyzed by AI algorithms, which are able to utilize to spot trends, forecast results, and help doctors make well-informed decisions. AI-powered CIS solutions are improving clinical decision-making and patient outcomes while reducing the workload on healthcare providers. These solutions range from anticipating cardiovascular events to optimizing treatment options. For instance, In June 2024, Philips announced its next-generation AI-enabled cardiovascular ultrasound platform aimed at accelerating cardiac ultrasound analysis. Integrated into Philips' EPIQ CVx and Affiniti CVx ultrasound systems, the platform utilizes FDA 510(k) cleared AI applications to automate measurements and enhance workflow efficiency. This advancement is designed to reduce the workload in echocardiography labs and improve productivity in cardiovascular imaging and diagnosis. These factors positively influence the Cardiology Information Systems industry outlook during the forecast period.

Market Snapshot:

Cardiology Information System Market - Report Coverage:

The “Cardiology Information System Market Report - Forecast (2024-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Cardiology Information System Market.

COVID-19 / Ukraine Crisis - Impact Analysis:

• The COVID-19 epidemic has accelerated the integration of virtual care and telemedicine into various healthcare fields. Telemedicine features are integrated into Cardiology Information System platforms, allowing for remote diagnostics, virtual consultations, and cardiac patient telemonitoring. These virtual care capabilities reduce the risk of contracting infectious infections, increase patient convenience, and improve access to cardiology therapies in rural or isolated locations.
• The Ukraine crisis has disrupted supply chains for electronic components used in Cardiology Information System devices, leading to potential shortages and delays in production. According to information from emergency medical services and disaster medicine in the region close to the war zone, prolonged stress during the first 6 months of the war led to a 30% to 40% increase in emergency cardiovascular conditions compared with the same period in 2021. At the same time, many patients refused hospitalization, perhaps in anticipation of the further development of military events.  

Key Takeaways:

North America is Leading the Market:

North America region held a major market share in 2023. The United States and Canada’s well-established healthcare systems with a strong focus on technology adoption and innovation is driving the growth of cardiology information system market in this region. Additionally, the rise in cardiovascular diseases and spending on digital health solutions are also propelling the growth of cardiology information system market. For instance, according to the Peterson Health Technology Institute (PHTI)’s 2024 State of Digital Health Purchasing Survey, spending on digital health has increased rapidly over the past two years in US and the survey indicates that purchasers plan to continue to grow their spending on digital health offerings in the year ahead. According to the survey, 97% of employers, 86% of health systems, and 84% of health plans intend to maintain or increase spending on digital health solutions over the next year. Survey also shows that 47% of purchasers’ plan to prioritize digital health solutions for cardiovascular disease. This growing spending on health care and digital health solutions are driving the market growth in this region.

Software is the Largest Segment

The software segment held the largest market share in 2023. Software components are essential for integrating Cardiology Information System solutions with EHRs, medical imaging systems and other healthcare IT infrastructure enabling seamless data sharing and workflow optimization. For instance, in October 2023, the World Health Organization (WHO) released a new publication listing key regulatory considerations on artificial intelligence (AI) for health. The publication emphasizes the importance of establishing AI systems’ safety and effectiveness, rapidly making appropriate systems available to those who need them, and fostering dialogue among stakeholders, including developers, regulators, manufacturers, health workers, and patients. WHO recognizes the potential of AI in enhancing health outcomes by strengthening clinical trials; improving medical diagnosis, treatment, self-care and person-centred care; and supplementing health care professionals’ knowledge, skills and competencies. Such initiatives are propelling the growth of software segment in the global cardiology information system market. Globally, around 60 million people have AFib, and the figure is forecast to rise in the coming years as populations age. In August 2023, GE HealthCare introduced software that automatically aggregates data on atrial fibrillation (AFib) patients from different sources to save physicians’ time. The software, called CardioVisio, is a response to the time physicians spend searching through multiple systems, charts and screens to understand the cardiac history of AFib patients.

Catheterization labs are leading the Market

Catheterization labs held a major market share of 7.8% in 2023. Complex treatments like valve interventions, ablation therapy for arrhythmias, and percutaneous coronary intervention (PCI) with stenting are being carried out in catheterization labs. These procedures require advanced IT systems to manage large volumes of data and support real-time decision-making. For instance, according to American Heart Association, Prevalences of coronary disease (7.8% to 9.2%), heart failure (2.7% to 3.8%), stroke (3.9% to 6.4%), atrial fibrillation (1.7% to 2.4%), and total cardiovascular disease (11.3% to 15.0%) will rise. Clinical cardiovascular disease (CVD) will affect 45 million adults, and cardiovascular disease including hypertension will affect more than 184 million adults by 2050 (>61%). Such increase in cardiovascular diseases and complexity of procedures are driving the growth of catheterization labs segment globally in cardiology information system market. 

Increasing prevalence of obesity cases Boosts the Market

The increase in obesity cases globally is driving the growth of Cardiology Information System market. Obesity has an important role in atherosclerosis and coronary artery disease. Obesity leads to structural and functional changes of the heart, which causes heart failure. Obesity often requires long-term management, which can be facilitated by remote patient monitoring (RPM) capabilities integrated into cardiology information system. Cardiology information systems can collect and analyze data regarding obesity management and cardiovascular care. For instance, according to World Obesity Atlas 2024, the estimates for global levels of high Body Mass Index (BMI) suggest that nearly 3.3 billion adults may be affected by 2035, compared with 2.2 billion in 2020. This reflects an increase from 42% of adults in 2020 to over 54% by 2035. As obesity is a primary cause of cardiovascular diseases, it increases the risk of various heart conditions. Such factors are propelling the growth of Cardiology Information Systems market globally.

Initial Cost and Implementation Challenges to Hamper the Market

The acceptance and widespread implementation of Cardiology Information Systems (CIS) may be significantly influenced by early investment and implementation expenses. Due to their limited funds, small healthcare organizations find it difficult to invest in hardware, software, and integration. Additionally, CIS setup is time-consuming and resource-intensive due to its complexity, which interferes with productivity, necessitates training, and entails data movement. However, to overcome this problem several governments are implementing several initiatives to reduce the cost of digital health technologies. For instance, Government of India has recognised the potential of Digital Health for strengthening of healthcare delivery system across the country. Toward this, various schemes have initiated for implementation of digital health initiative. Government of India implemented e-Sanjeevani telemedicine platform to provide free of cost teleconsultation services to citizens for COVID as well as non-COVID ailments. It is operational in 36 States/UTs & provides doctors/specialist medical services to citizens through online consultation mode from the comfort of their homes besides consultations through hub & spoke model in Health & Wellness Centres (HWCs).

Key Market Players:

Product/Service launches, approvals, patents and events, acquisitions, partnerships, and collaborations are key strategies adopted by players in the Cardiology Information System Market. The top 10 companies in this industry are listed below:

1. 1. GE Healthcare
   2. Philips Healthcare
   3. Siemens Healthineers AG
   4. AGFA-Gevaert
   5. Fujifilm Medical Systems
   6. McKesson Corporation
   7. Infinitt Healthcare Co Ltd
   8. Intelerad Medical Systems
   9. Oracle Cerner
   10. Esaote SPA

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