Zion Market Research has published a new report titled “Heart Failure Software Market by Software Type (Knowledge-Based and Non-Knowledge Based) and by Delivery Mode (On-Premises, Web-Based and Cloud-Based Systems) for Hospitals and Others - Global Industry Perspective, Comprehensive Analysis and Forecast 2016 – 2022”. According to the report, the global heart failure software market accounted for approximately USD 2.23 billion in 2016 and is expected to reach around USD 3.18 billion by 2022, growing at a CAGR of around 6.1% between 2017 and 2022.
Heart failure, frequently referred to as congestive heart failure occurs when the heart is unable to pump sufficient quantity of blood to maintain blood flow in order to meet the body's demand. Signs and symptoms associated with heart failure include shortness of breath, excessive tiredness, and leg swelling. The shortness of breath is usually worse with exercise while lying down and may wake the person at night. Heart failure software is a chronic disease monitoring software which supports patients suffering from congestive heart failure (“CHF”). This software facilitates the patients by lessening the number and length of hospital stays, alleviate patients while improving their quality of life, reduce the risk of further complications and thus by preventing deterioration in the patient’s health condition.
Globally, heart failure software market has been accelerated by rising population associated with diabetes mellitus. Moreover, low diagnosis rate is the key factors for fueling the growth of heart failure software market. Furthermore, technological advancements and increased accessibility to personal healthcare systems are some of the factors which promote the growth of heart failure software market. Moreover, rising health consciousness, increasing demand for health monitoring devices and shifting consumer’s preference towards a healthy lifestyle promotes heart failure software market. However, the low literacy rate among the population regarding the use of software, no awareness among the population coupled with high cost of software are such limitation which directly affects the growth of heart failure software market. Nonetheless, ongoing research and development in the healthcare IT sector are expected to open growth avenues for the heart failure software market over the years.
Based on software type, the global market for heart failure software is classified into two types: knowledge based and non-knowledge based. Knowledge-based software accounted for the largest market share in terms of revenue in 2016. This is due to increase awareness, self-analysis and ease in handling of this software.
Based on delivery mode, the global heart failure software market is classified into three types: on-premises, web-based and cloud-based systems. Cloud-based systems mode dominated the heart failure software market in 2016. Cloud-based systems accounted for the largest market share in terms of revenue because it offers applications, services or resources that are made available to users on demand via the internet from a cloud computing provider’s servers. Companies typically utilize cloud-based computing as a way to increase capacity, enhance functionality or add additional services on demand.
Based on end-users, the global market of heart failure software market is classified into two types: hospitals and others. Hospital segment is expected to account for the major share in heart failure software market due to increasing adoption of electronic health records and remote patient monitoring system. Rising awareness about personal health amongst the population is expected to drive the growth of the consumer segment over the near future.
Based on geographies, the global market of heart failure software market is segmented into five regions: North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa. These segments are further sub-segmented into the U.S., U.K., Germany, France, China, Japan, India, and Brazil. North America held the largest share in the global heart failure software market followed by Europe. This growth of North America was attributed due to high literacy rate and more awareness among the people to control the blood glucose level. In addition, this region was also associated with advanced research related to blood monitoring software. The heart failure software market is expected to witness the highest growth in Asia-Pacific region, especially in India. At present, India is one of the biggest hubs for designing of software across the world.
The report covers detailed competitive outlook including the market share and company profiles of the key participants operating in the global heart failure software market include Cerner Corporation, 4S Information Systems Ltd., Axis Clinical Software, Inc., CitiusTech Inc., etc.
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