The study involved four major activities in estimating the current market size of the China cardiology information system market. Exhaustive secondary research was conducted to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research.
What the Market Looks Like?
The China cardiology information system market is projected to reach $54 million by 2024 from $35 million in 2019, at a CAGR of 8.9% during the forecast period. L3A hospitals accounted for the largest share of the China cardiology information system market in 2018. Growth in this market is mainly driven by the increasing incidence and prevalence of cardiovascular disease, government initiatives in China, and the increasing number of hospitals.
The market comprises several stakeholders, such as cardiology information system manufacturers, vendors, and distributors. The demand side of this market is characterized by the significant use of cardiology information systems. Advancements in technology characterize the supply side. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.
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The integrated systems segment is expected to grow at the highest CAGR during the forecast period
Based on system, the market is segmented into integrated and standalone systems. The integrated systems segment is projected to witness the highest growth during the forecast period. The increasing adoption of integrated systems by healthcare providers is the major factor supporting the growth of this segment.
The software segment accounted for the largest share of the China cardiology information system market in 2018
By component, the market is segmented into software, services, and hardware. The software segment accounted for the largest market share in 2018. The large share of this segment can be attributed to the growing need to integrate CVIS with C-PACS, EMRs, and other cardiology modules.
Based on system, the market is segmented into integrated and standalone systems. The integrated systems segment is projected to witness the highest growth during the forecast period. The increasing adoption of integrated systems by healthcare providers is the major factor supporting the growth of this segment.
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Key Questions Addressed in the Report:
- What are the growth opportunities offered by the market in the next five years?
- How will advancements in products offered by various companies affect the market scenario in the mid- to long-term?
- What are the trends and advancements in the China cardiology information system market?
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