Cardiology is the second-largest generator of patient image data and reports, which need to be stored/archived, analyzed, and managed. This, coupled with hospitals’ need to provide timely, high-quality care to patients, given the urgency of cardiology cases, necessitates a holistic view of cardiac patient data and a well-connected, enterprise-wide hospital informatics infrastructure, propelling the growth of efficient enterprise imaging informatics solutions in the cardiology specialty.
Hospitals face various challenges, such as radiologist/cardiologist burnout, rising costs, huge data silos, decentralized work environments, and the substantial time cardiologists spend on manual reporting. These factors create demand for robust cardiology image and data management, such as cardiology workflow solutions and structured reporting covering the unique needs of cardiology imaging.
Increased disease detection and diagnosis requirements also advance technology innovations across all modalities of cardiology imaging procedures, such as hybrid imaging and fusion imaging. These procedures create highly advanced images in large volumes and require appropriate cardiology diagnosis/interpretation solutions to decode/read and interpret images quickly.
As cardiology datasets increase, on-premises storage solutions will no longer be enough to manage the growing volume of cardiology data. This will drive the adoption of cloud-based cardiology image storage solutions, which are scalable and easily accessible from anywhere. Cardiology picture archive communication systems (PACS) are shifting toward cardiovascular information systems (CVIS) to meet the demand for a comprehensive, 360-degree view of patient health data from multiple disparate systems. CVIS enables a holistic view of a patient’s health parameters and reduces the turnaround time for physicians to examine each patient.
Through this report, Frost & Sullivan seeks to provide stakeholders with insights into the market and enable them to capture the opportunities available over the forecast period.
Revenue forecast
The revenue estimate for the base year 2023 is $1.2 million, with a CAGR of 9.7% for the study period 2023–2028
The Impact of the Top 3 Strategic Imperatives on the Global Cardiology Medical Imaging Informatics Industry
Industry Convergence
Why:
Cardiology data is a combination of semi or unstructured data scattered across institutions in a poorly indexed manner and not well-curated or semantically annotated. There is a need to standardize, synchronize, store, and archive data securely for detailed analysis and workflow assimilations for multimodality review in clinics, hospitals, and universities.
Frost Perspective:
In the next 2–3 years, cross-disciplinary care (multimodality) with pathology, electrophysiology, and cardio-genomics will provide comprehensive cardiology patient care.
All software, technology, and imaging companies will collaborate and co-create holistic, customized solutions and powerful EI systems designed to break down the data silos of hospitals and other providers.
Disruptive Technology
Why:
C-PACS, CVIS, VNA, and EMRs are gaining traction in high-growth economies and good penetration in developed countries.
Existing IT solutions are undergoing upgrades with consolidated solutions for image management across organizations, regions, and developed countries.
Frost Perspective:
In 1–2 years, imaging, technology, and AI firms will redefine the detection and precision medicine of cardiovascular diseases (CVD) by innovating algorithms that integrate with any EMR system, comply with GDPR, ISO, and/or local regulatory bodies, and is device-neutral to detect and treat cardiac care. The goal is to co-create and customize cardiology medical imaging products and architect tools that meet healthcare providers' needs.
Customer Value Chain Compression
Why:
The World Health Organization (WHO) indicates that CVD is the leading cause of death globally at approximately 18 million per year.
According to the Lancet, women, accounting for 35% of global deaths by CVD, are understudied, underdiagnosed, and undertreated.
There is a huge demand for early detection of heart risk to prevent CVDs.
Frost Perspective:
Demand for the prevention of CVDs has driven technological advancements for the early detection of heart risks.
There is a huge focus on cardiac care in ambulatory settings and at-home solutions.
Growth and advancements in remote cardiac patient monitoring will further drive access to healthcare for cardiac patients.
Scope of Analysis
- The research service provides an overview of the global cardiology medical imaging informatics market and revenue forecast from 2023–2028.
- Cardiology informatics is an interdisciplinary field that uses data, information, and knowledge from cardiology health systems with information and communication systems for patient care with operational and financial efficiency for the enterprise.
- The geographical scope of this study covers 4 main regions: North America (NA), Europe, Asia-Pacific (APAC), and the rest of the world (Latin America, Africa, and the Middle East).
- The study provides a forecast by geographies at the regional level of enterprise imaging informatics for cardiology, a consolidated imaging ecosystem broadly classified as hardware, software, and services. However, the report only considers software solutions and software-as-a-service.
- The report categorizes software systems into 4 sub-segments for the forecast: 1) **Title:** The Growth Pipeline™ Company; 2) Cardiology Image Analysis and Visualization; 3) Cardiology Workflow Solutions; and 4) Cardiology Enterprise Imaging.
| Scope | |
|---|---|
| Geographic Coverage | Global |
| Study Period | 2023–2028 |
| Base Year | 2023 |
| Forecast Period | 2024–2028 |
| Monetary Unit | US Dollars |
Segmentation by Geography
Cardiology Imaging Informatics
North America
United States of America and Canada
Europe
United Kingdom, Germany, Italy, France, Spain, Benelux (Belgium, the Netherlands, Luxembourg), Scandinavia (Denmark, Norway, Sweden, Finland), and the rest of Europe
Asia-Pacific
China, Philippines, Indonesia, India, Malaysia, Singapore, Japan, Vietnam, South Korea, Taiwan, Australia, and Thailand
Rest of the World
Countries beyond those in the 3 regions, such as Latin America, Africa, and the Middle East
Why is it Increasingly Difficult to Grow?
The Strategic Imperative 8™
The Impact of the Top 3 Strategic Imperatives on the Global Cardiology Medical Imaging Informatics Industry
Growth Opportunities Fuel the Growth Pipeline Engine™
Scope of Analysis
Cardiology Medical Imaging Informatics Market Segmentation
Cardiology Medical Imaging Informatics Market Segmentation (continued)
Segmentation by Geography
Demands in Cardiology Imaging Informatics
Factors Addressing Demand
Shift in Cardiology Procedures from Hospital Inpatient to Outpatient; CCTA is the Largest
Rise of Low-cost Cardiology Health Settings
Reimbursement and Regulatory Trends in Cardiology Imaging
Cloud Deployment in Cardiology Imaging Informatics
On-Premises vs Cloud PACS for Deployment in Cardiology Practices
Growth Drivers
Growth Drivers (continued)
Growth Restraints
Growth Restraints (continued)
Forecast Methodology and Assumptions
Growth Metrics
Revenue Forecast
Revenue Forecast by Module
Revenue Forecast Analysis
Revenue Forecast by Region
Revenue Forecast Analysis
Revenue Forecast Analysis (continued)
Growth Metrics
Revenue Forecast
Cardiology PACS Integrating into Robust and Multifaceted CVIS
Revenue Forecast Analysis
Growth Metrics
Revenue Forecast
Shift Toward Fully-automated Processing and High-level Digital Interpretation of Cardiac Images
Revenue Forecast Analysis
Growth Metrics
Revenue Forecast
Growing Demand for Structured Reporting
Revenue Forecast Analysis
Growth Metrics
Revenue Forecast
Factors Driving Enterprise Imaging Adoption in Cardiology
Revenue Forecast Analysis
Market Positioning of Key Vendors
Profiles of Cardiology Imaging OEMs
Profiles of Cardiology Imaging OEMs (continued)
Profiles of Pureplay Cardiology Imaging Informatics Vendors
Profiles of Pureplay Cardiology Imaging Informatics Vendors (continued)
Profiles of AI-based Companies Focused on Cardiology Imaging
Partnerships Advancing AI in Cardiac Imaging
M&As in Cardiology Imaging
Growth Opportunity 1: Multimodality Cardiac Imaging for Diagnostic Accuracy
Growth Opportunity 1: Multimodality Cardiac Imaging for Diagnostic Accuracy (continued)
Growth Opportunity 2: Enterprise Imaging Platform Harmonizes with Cardiology PACS
Growth Opportunity 2: Enterprise Imaging Platform Harmonizes with Cardiology PACS (continued)
Growth Opportunity 3: Automation and Generative AI in Cardiology Workflow Optimization
Growth Opportunity 3: Automation and Generative AI in Cardiology Workflow Optimization (continued)
Growth Opportunity 4: AI-based Cardiology Image Reconstruction and Interpretation
Growth Opportunity 4: AI-based Cardiology Image Reconstruction and Interpretation (continued)
Growth Opportunity 5: Cloud-powered Telecardiology to Improve Access to Healthcare
Growth Opportunity 5: Cloud-powered Telecardiology to Improve Access to Healthcare (continued)
List of Exhibits
Legal Disclaimer
Speak directly with our analytics experts for tailored recommendations.
Purchase includes:
- Report download
- Growth Dialog™ with our experts
Growth Dialog™
A tailored session with you where we identify the:- Strategic Imperatives
- Growth Opportunities
- Best Practices
- Companies to Action
Impacting your company's future growth potential.
Research Highlights
Frost & Sullivan provides an overview of the global cardiology medical imaging informatics market, with a 5-year revenue forecast from 2024?2028. Cardiology informatics is an interdisciplinary field that uses data, information, and knowledge from cardiology health systems with information and communication systems for patient care with operational and financial efficiency for the enterprise. The geographical scope of this study covers 4 main regions: North America, Europe, Asia-Pacific, and the rest of the world (Latin America, Africa, and the Middle East). We categorize the study forecast into 4 segments:
- Cardiology PACS includes cardiology image storage, archive, sharing, and viewing
- Image Analysis and Visualization includes image analysis, processing, visualization, diagnosis, and interpretation solutions
- Cardiology Workflows include cardiology image workflow orchestration, speech recognition and diagnosis reporting, cardiology clinical decision support solutions, business analytics solutions, patient data management, and care coordination solutions
- Cardiology Enterprise Imaging Solutions
Other vital information:
- Growth environment and market trends
- Drivers and restraints
- Revenue forecast and analysis by modules and regions
- Competitive environment, including prominent participants’ profiles, products, and revenues
| Deliverable Type | Market Research |
|---|---|
| Author | Mohammad Hamzahanfi |
| Industries | Healthcare |
| No Index | No |
| Is Prebook | No |
| Keyword 1 | Cardiology Imaging Industry Trends |
| Keyword 2 | Medical Imaging Market Forecast |
| Keyword 3 | Cardiology Diagnostic Trends |
| Podcast | No |
| WIP Number | PED1-01-00-00-00 |
Global Cardiology Medical Imaging Informatics Market Growth Opportunities
Demand for Integrated Cardiology Patient Data and Automated Workflow Solutions Boost Clinical Outcomes and Productivity
22-Jan-2024
North America
Market Research
