Cardiology Information System Market Size, Share & Trends Analysis Report By System, By Mode of operation, By Region, And Segment Forecasts, 2020 To 2027

The global cardiology information system market is anticipated to witness growth over the forecast period. Increasing the prevalence of cardiovascular diseases coupled with the growing demand for productive data management tools in the cardiology departments are key drivers for this market. Moreover, rising pressure to curb growing medical error rates, rapid adoption of integrated systems by healthcare providers are further driving the market growth. 

Government initiatives towards the adoption of electronic health record (EHR) systems facilitating data analysis in healthcare setups are further fueling the market growth. For instance, the government organization, National Health Portal (NHP) India in May 2017, introduced an EHR system, which was introduced by the healthcare providers and hospitals. Moreover, an expert committee was also established to create EHR Standards and its implementation in the country. 

Based on the system, the market is segmented into a standalone, integrated system, cardiology information system (CIS), and cardiology PACS. Increasing adoption of an integrated healthcare system by the healthcare providers, along with the growing need to integrate CIS with Cardiology Picture Archiving and Communication Systems (CPACS) and EMR along with other cardiology modules are fueling the market growth of CIS market. In addition, the cost-effectiveness and potential for workflow efficiency of these systems have also contributed to its increased adoption. On the basis of mode of operation, the market is divided into web-based, on-site and cloud-based. Increasing the adoption of zero footprint systems in CIS market is further boosting the market growth. 

North America held the dominant regional share of the cardiology information system market. The market growth in this region can be attributed to the presence of well-established healthcare infrastructure, the prevalence of cardiovascular diseases. According to the Center for Disease Control (CDC) in 2019, 1 person in every 37 seconds die in the U.S. from cardiovascular disease and around 647,000 Americans die from heart disease every year. Therefore, the rising incidence rate of cardiovascular disorders is thereby advancing the need for streamlining the cardiac care workflow system in this region. Furthermore, Asia Pacific is likely to experience rapid growth over the forecast period, owing to the increased cardiac patient population which demands for cardiac healthcare services, which in turn is expected to result in the escalating burden of data records of patients; hence, spurring additional growth of the cardiology information system market in the Asia Pacific region. 

Major market players include Philips Healthcare, Cerner Corporation, Central Data Network, Agfa Healthcare, Merge Healthcare, GE, McKesson Corporation, Siemens Healthcare Private Limited, and Fujifilm Medical Systems. These players are involved in new product launch, strategic collaborations, and regional expansion. In February 2019, Philips Healthcare introduced its IntelliSpace Cardiovascular 4.1, its next-generation cardiovascular image and information management system. It enables the seamless and secure sharing of patient data across systems and hospitals in near real-time.