Global Interventional Cardiology and Peripheral Vascular Devices Market Outlook 2030

" In 2021, the global market value of cardiovascular information systems is estimated to valued at USD 950 million and is expected to intensify at CAGR of 9% over the period 2022-2030. More and more challenges related to cardiovascular care, including managing large amounts of data, retrieving data, and maintaining patient medical history records, require advanced systems, such as electronic health record (EHR) systems, which will facilitate data analysis. The rapid growth of the global cardiovascular equipment industry is mainly attributed to the increasing number of patients with cardiovascular diseases worldwide and the increasing demand for production data. Management tool for the heart care department.In addition, the launch of technologically advanced products and the rising trend of telemedicine are expected to drive market growth. CVIS enables cardiac surgeons and hospital administrators to work more efficiently than using traditional data management techniques. When combined with other technologies such as Cardiology Image Archiving and Communication System (CPACS), the utility of the system is further maximized. 

 

Due to factors such as high adoption rates and increasing awareness of the availability of these systems, the market is expected to experience rapid growth; however, decisive factors such as high equipment costs and the need for trained professionals to handle the equipment are expected to hinder global growth. In addition, people are reluctant to switch from traditional data storage tools to advanced technology, which increases the degree of constraints on the markets growth.

 

SUBDIVIDED INFORMATION: 

According to the system type, the cardiovascular information system market is subdivided into Cardiovascular Information System (CVIS), Cardiac Image Archiving and Communication System (CPACS). Compared with CPACS, the CVIS system facilitates efficient data analysis and enables clinicians to make accurate treatment decisions in a shorter time. 

 

Therefore, it was found that the adoption rate of CVIS was higher than the adoption rate of CPACS. As a result, the CVIS segment accounted for the largest market share in 2020, and this segment is expected to maintain its dominant position throughout the forecast period. And cloud-based. The network-based market segment accounted for the largest market share in 2020. High awareness rates and relatively cheap costs are some of the main factors that have led to the widespread adoption of network-based operating modes in global cardiovascular information systems. However, it is expected that during the forecast period from 2022-2030, the cloud-based segment will show the fastest growth rate.

 

REGIONAL INFORMATION: 

Geographically, the market is divided into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa (MEA). North America dominated the global market in 2020 due to the region’s well-developed healthcare infrastructure, the increasing prevalence of cardiovascular diseases, and other conditions (affecting the function of the heart muscle or valves).

 

The addition of the electronic health record (EHR) maintenance system has promoted the growth of the North American market. Due to favorable government policies and an increase in the number of cardiovascular care institutions in the region, the region is expected to maintain its dominant position throughout the forecast period. It is estimated that by 2025, the value of this market segment will reach 370.6 million US dollars. Due to the existence of fast-developing economies such as India and China, the medical infrastructure is rapidly improving, and the Asia-Pacific region is expected to show a faster growth rate. In addition, the large population of heart disease patients is expected to drive the demand for cardiac healthcare services in the region, which in turn is expected to lead to an increasing burden of patient data records; therefore, stimulating further growth in the CVIS market in the Asia Pacific region. It is estimated that by 2030, the Asia-Pacific market will reach more than USD 300 million.

 

COMPETITIVE PROSPECTS: 

Major market players are investing heavily in research and development projects to improve existing technologies. The development of the CVIS system in combination with other systems is a priority for most companies. The complex hardware requirements of these new systems remain a huge challenge. Therefore, developing a system compatible with common hardware is the company's top priority. The high costs associated with these products and services make them difficult to adopt in developing countries. 

 

As a result, participants are outsourcing the manufacturing of raw materials from companies in developing economies at a lower cost, thereby reducing the overall cost of manufacturing products. Some of the major companies participating in the global cardiovascular information system market are Philips Healthcare, GE Healthcare, McKesson Corporation, Siemens Healthcare GmbH, Merge Healthcare, Inc., Agfa Healthcare NV, Cerner Corporation, Fujifilm Medical Systems, Inc., Lumedx Corporation, and Digital Acoustic Company. "
 

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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