CVIS market may hit $233M by 2018

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The global cardiovascular information system (CVIS) market is on a growth trajectory, a market research company reported in April.

The research and consulting firm MarketsandMarkets placed the CVIS market at $160 million in 2013 with a projected value of $233 million by 2018. It listed needs such as quality improvement, data sharing, cost reductions and streamlined workflow as the driver for hospitals to invest in CVIS products.

The report singled out echocardiography laboratory CVIS as the fastest growing market segment. It also highlighted the trend to switch to cloud computing playing a role in future purchases. “Owing to the cost-effectiveness and ability to meet the disaster recovery requirements of healthcare providers, several players are investing in cloud-based CVIS solutions. Cloud-based CVIS solutions are expected to grow at the highest CAGR [compound annual growth rate] during the forecast period.”

Hospitals with 200 or fewer beds are expected to hold a high share of the market through 2018. The aging patient population in developed countries and incentives to integrate healthcare systems likely will boost demand, but high costs, interoperability challenges and physician resistance to change may create headwinds, according to the analysis.