Top 3 Significant Trends Underscoring Growth Opportunities for CVIS Market Globally

According to the CDC foundation data in 2015, nearly 800,000 Americans die due to various heart diseases and strokes. In addition, Philips launched intellispace CVIS recently, which finds application of icon-based timeline view of a patient’s medical records, instead of listing reports and exam files in traditional text. Moreover, after acquiring four hospitals, PinnacleHealth has merge with the Pittsburgh. Such factors will contribute towards growth of the global cardiovascular information system (CVIS) market over the coming years.

The global cardiovascular information system is projected to witness a growth of 7.3% CAGR over the forecast period, 2016-2024. Catheterization among other applications will remain dominance in the span of next seven years in terms of revenue. Clinics, cardiac cath labs and hospitals will remain major end users of cardiovascular information system over the coming years.

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Significant trends propelling growth of the global cardiovascular information system market include,

  1. Mergers and Acquisitions:

Companies operating in the global cardiovascular information system are mainly entering into partnerships, mergers and acquisitions. Recently, Abbott acquired St. Jude for US$ 25 Bn. It is one of the largest mergers of medical device companies since Medtronic’s acquisition of Covidien. Moreover, after acquiring four hospitals, PinnacleHealth has recently merged with University of Pittsburg Medical Center.

In addition, Philips has recently launched intellispace CVIS that finds application of icon-based timeline view of a patient’s medical records, instead of listing reports and exam files in traditional texts. Furthermore, surge in imposition of government regulations, along with various initiatives taken by the government to promote adoption of electrical medical records. Such factors will rev up demand for the cardiovascular information system over the coming years in the global market.

  1. Growing adoption of Enhanced Technology:

With the increasing need for archiving, sharing and storing medical data from over 20 specialties, and generating ideal CVIS solutions make Vendor Neutral Archive an essential part of cardiovascular information system. Moreover, the CVIS solution in the market is likely to be compatible with the VNA technology, which is likely to contribute towards growth of the global market in the span of next seven years. Furthermore, increasing consolidation in the health information technology will significantly fuel adoption of the solutions related to the cardiovascular information system in the span of next seven years.

Favorable government reforms have propelled various companies to install enhanced CVIS solutions over the years. In addition, the Health Information Technology for Economic & Clinical Health (HITECH) Act has recently been instrumenting investments worth billion dollars for developing electronic information system that enables in storing medical records for important clinical purposes. Such factors will significantly impact growth of the global cardiovascular information system market positively in the span of next seven years.

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  1. Regional Analysis:

Among other regions, North America will remain dominance in the span of next seven years due to robust healthcare infrastructure in the U.S. and Canada. Moreover, North America accounted for nearly 40% of the global revenues in the cardiovascular information system market in 2016. Whereas, cardiovascular information system market in Europe and Asia Pacific will witness an upsurge in demand in the span of next seven years. However, MEA and Latin America will witness a sluggish growth in term of revenue over the coming years.

Overall, with the increasing acquisitions and mergers among various companies, the cardiovascular information system market is likely to witness significant growth in the span of next seven years. Moreover, in pace with developing technology, cardiovascular information system solutions is likely to witness an upsurge in adoption over the coming years.

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