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. Then, both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.[54 Pages Report] 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.
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.
- Rising Incidence and Prevalence of Cardiovascular Disease in China
- Increasing Number of Hospitals in China
- Favorable Government Initiatives
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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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.
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?
Based on end user, the market is segmented into L3A hospitals and L3B & L2 Hospitals. The L3A hospitals segment accounted for the largest share of the market in 2018. The increasing number of L3A hospitals in China and growing disease prevalence are responsible for the large share of this market segment.
Some key players mentioned in the research report are:
Key players in the China cardiology information system market are Philips Healthcare (Netherlands), CREALIFE Medical Technology (China), Central Data Network (Australia), Infinitt Healthcare (South Korea) and Esaote (Italy).
In 2018, CREALIFE Medical Technology held the leading position in the market. The company has good relations with government bodies, distributors, and hospitals in the market, which is its key strength. Philips Healthcare held the second position in the market in 2018.
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