MCP-6881: CARDIOLOGY IT WORKFLOW SOLUTIONS – A GLOBAL STRATEGIC BUSINESS REPORT
March 15, 2017 – 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.
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