The Global Market for Cardiology IT Workflow Solutions is Projected to Exceed US$1.2 Billion by 2022
Growing Number of Cardiology Procedures
and the Need to Increase Review Efficiency Drive the Cardiology IT Workflow
Solutions Market, According to New Report by Global Industry Analysts, Inc.
GIA
launches a comprehensive analysis of industry segments, trends, growth drivers,
market share, market size and demand forecasts on the global Cardiology IT
Workflow Solutions market. The global market for Cardiology IT Workflow Solutions
is projected to exceed US$1.2 billion by 2022, driven by growing prevalence of cardiovascular diseases, increasing
number of cardiovascular procedures, and the ensuing need to increase review
efficiency.
Cardiology
IT workflow solutions are computer based software and hardware solutions that
are employed for improving workflow and enhancing efficiency within cardiology
departments. These solutions are used in Echocardiography Labs, Cardiac
Catheterization Labs, ECG Data Management, and Vascular Labs and offer
expandability and scalability; affordability; and secure remote access to the
system. Myriad benefits of cardiovascular information systems (CVIS) that are
driving its widespread adoption include considerable decline in paper
shuffling, copying as well as manual chart size; speedy and seamless integration
of all business functions that include billing, appointments, and scheduling;
capability of linking with affiliated hospitals and clinical systems; automatic
transmission of all billing-related data to all payers; and integration of
regulatory chores such as CPT coding and HIPAA compliance. Additionally,
Cardiology IT workflow solutions focus on clinical as well as operational
excellence while reducing chances of medical errors. Adoption of these modern
workflow solutions have been helping cardiologists increase their efficiency
and at the same time, helping hospitals increase their profitability on account
of increased footfalls thereby driving strong market growth.
Future
growth in the market will be driven by the wide prevalence of heart diseases
across the world leading to growing demand for interventional cardiology
surgeries, which brings into focus cardiology IT workflow solutions for better
management of generated data. Another growth driving factor include the growing
prominence of integrated healthcare delivery model where healthcare providers
are constantly searching for solutions that can have data and images at single
point for seamless use in procedures. Technology advancements in software that
allow cardiologists to generate different data from different sub-specialties
and generate own analysis as needed and also refer back to raw data for any
clarification are also poised to benefit market prospects. Other important
growth drivers include adoption of cloud based cardiology software solutions;
growing digitization of healthcare facilities, and deep foray of Electronic
Medical Record (EMR) vendors into the cardiology informatics sphere offering
customized cardiology IT solutions. Despite the healthy outlook, relatively
slow adoption of IT workflow in the cardiology space, higher initial
investments, and interoperability and integration issues continue to hamper
growth prospects.
As
stated by the new market research report on Cardiology IT Workflow Solutions, the United States represents the largest market
worldwide. The presence of advanced healthcare technology framework, focus on
reducing healthcare costs, as well as the high prevalence of Hospital
Information Systems and Electronic Medical Records position the United States
as the world’s largest market for cardiology IT workflow solutions.
Asia-Pacific is poised to grow at the fastest CAGR of 13.3% over the analysis
period driven by sophisticated healthcare infrastructure in China and India;
booming medical tourism, and growing incidence and prevalence of CVD in the
region.
Major
players profiled in the report include Agfa HealthCare NV, Biomedix, Carestream
Health, Circle Cardiovascular Imaging Inc., Digisonics Inc., Esaote SpA,
FUJIFILM Holdings Corporation, GE Healthcare, INFINITT Healthcare Co. Ltd.,
Koninklijke Philips N.V., LUMEDX Corporation, McKesson Corporation, Medis
Medical Imaging Systems BV, Merge Healthcare Incorporated, Mortara Instrument,
Novarad Corporation, RADinfo SYSTEMS Inc., ScImage Inc., Siemens Healthineers
and TOMTEC IMAGING SYSTEMS GMBH, among others.
The
research report titled "Cardiology IT Workflow Solutions: A Global Strategic
Business Report" announced by
Global Industry Analysts Inc., provides a
comprehensive review of market trends, issues, drivers, mergers,
acquisitions and other strategic industry activities of global companies. The
report provides market estimates and projections for all major geographic
markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain,
Russia, and Rest of Europe), Asia-Pacific, and Rest of World.
Global Industry Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA,
All Rights Reserved.
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