North America Heart Failure Software Market, By Type (Knowledge Based, Non-Knowledge Based), Delivery Mode (Web-Based, On-Premises, Cloud-Based Systems), Platform (Standalone, Integrated), Supportive Devices (Tablets, Desktops, Others), Features (Heart Monitoring Activity, Tracking Periodic Tests, Review Progress, Diary Management Tool, Diagnosis and Therapy Monitoring, Others), End User ( Hospitals, Specialty Clinics, Ambulatory Surgical Centers, Others), Distribution Channel (Direct Tenders, Third Party Distribution), Country (U.S., Canada, Mexico) Industry Trends and Forecast to 2028.
Market Analysis and Insights: North America Heart Failure Software Market
The North America heart failure software market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 5.6% in the forecast period of 2021 to 2028 and is expected to reach USD 2,310.82 million by 2028. Increasing incidences of heart-related diseases across the North America region act as a driver for the heart failure software market growth.
Heart failure occurs when your heart is unable to pump enough blood to meet your body's needs. This can happen if your heart can't get enough blood to fill up. It can also happen if your heart isn't strong enough to pump blood properly. Heart failure does not imply that your heart has stopped beating. Heart failure, on the other hand, is a serious condition that necessitates medical attention. Ventricular Assist Devices (VADs) are revolutionizing the treatment of advanced heart failure patients by offering yet another possible solution to a growing problem. Mechanical Circulatory Support (MCS) includes VAD therapy (MCS). VADs are mechanical devices that help a weakened heart pump blood throughout the body by transferring blood from the left ventricle to the ascending aorta.
Heart failure is defined by the North American Society of Cardiology (ESC) as a clinical syndrome characterized by symptoms such as shortness of breath, persistent coughing or wheezing, ankle swelling, and fatigue, that may be accompanied by the following signs: jugular venous pressure, pulmonary crackles, increased heart rate, and peripheral oedema. However, these signs may not be present in the early stages and patients treated with diuretics. When apparent, they are due to a structural and/ or functional cardiac abnormality, leading to systolic and/or diastolic ventricular dysfunction, resulting in reduced cardiac output and/or elevated intra-cardiac pressures at rest or during stress.
The technological advancements in software and increased accessibility to personal healthcare systems is the major driving factor in the market. The interoperability of different systems or platforms existing in hospital and clinical can prove to be a challenge however, increasing demand for access to patient health records (PHR/ PHI) proves to be an opportunity. The insensitivity and unawareness among the population can be a restraint for the adoption of heart failure software and the challenges.
The heart failure software market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the heart failure software market scenario contact Data Bridge Market Research for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Heart Failure Software Market Scope and Market Size
The heart failure software market is segmented on the basis of the type, delivery mode, platform, supportive devices, features, end user and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, North America heart failure software market is segmented into knowledge-based, and non-knowledge-based. In 2021, a knowledge-based segment is expected to dominate the market as it is widely deployed in North America due to continuous research and innovation in the field of medical sciences has overall enhanced the growth for the heart failure software.
- On the basis of delivery mode, North America heart failure software market is segmented into on-premises, cloud-based systems, and web-based. In 2021, the on premise segment is expected to dominate the market due to the common usage of on-premises software.
- On the basis of platform, North America heart failure software market is segmented into standalone and integrated. In 2021, the standalone segment is expected to dominate the market as there is a wide deployment of monitor and desktop in the hospital or clinics that drives the overall innovation for the heart failure software market.
- On the basis of supportive devices, the North America heart failure software market is segmented into desktops, tablets, and others. In 2021, the desktop segment is expected to dominate the market as desktop devices as multiple messages or images can live comfortably in such a wide space.
- On the basis of features, the North America heart failure software market is segmented into heart monitoring activity, tracking periodic tests, review progress, diagnosis and therapy monitoring, diary management tool, and others. In 2021, the heart monitoring activity segment is expected to dominate the market owing to growing cardiac cases and adoption of smart wearables by the patient to monitor their heart beat monitoring is driving the overall growth for the segment.
- On the basis of end user, North America heart failure software market is segmented into hospitals, specialty clinics, ambulatory surgical centers, and others.
- In 2021, the hospital is expected to dominate the market owing to the increasing adoption of electronic health records (EHR).
- On the basis of distribution channel, North America heart failure software market is segmented into direct tenders and third party distribution. In 2021, the direct tenders segment is expected to dominate the market as the knowledge base dominated the market due to SaaS, AI and machine learning.
Heart Failure Software Market Country Level Analysis
The heart failure software market is analyzed and market size information is provided by the country, type, delivery mode, platform, supportive devices, features, end user and distribution channel as referenced above.
The countries covered in the North America heart failure software market report are the U.S., Canada and Mexico.
The U.S. dominates the North America region due to its wide deployment and investment in the healthcare sector.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Increasing Usage Of Wearable Devices For Monitoring The Heart Rate Is Boosting the Market Growth of Heart Failure Software market.
The heart failure software market also provides you with detailed market analysis for every country's growth in particular market. Additionally, it provides the detail information regarding the market players’ strategy and their geographical presence. The data is available for historic period 2010 to 2019.
Competitive Landscape and Heart Failure Software Market Share Analysis
Heart failure software market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width, and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to heart failure software market.
The major companies which are dealing in the heart failure software are Medtronic, Abbott, Cerner Corporation., 4S Information Systems Ltd., Axis Clinical Software, Inc. and CV Medical Software among other domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many contracts and agreements are also initiated by the companies’ worldwide, which are also accelerating the heart failure software market.
- In June 2021, Medtronic announced a clinical trial for the STROKE AF trial determining the Reveal LINQ Insertable Cardiac Monitor (ICM) superiority to detect abnormal heartbeats, otherwise known as atrial fibrillation (AF). Medtronic offers the most comprehensive range of innovative medical technology for the interventional and surgical treatment of cardiovascular disease and cardiac arrhythmias, developed in collaboration with the world's leading clinicians, researchers, and scientists. The company strives to provide high-quality products and services that provide clinical and economic value to healthcare consumers and providers.
- In December 2020, Abbott founded that more than 55% of cardiologists have heart failure at an increasing rate with pre-existing conditions such as obesity, high blood pressure, and diabetes. In addition, the company is sharing best practices with hospitals and clinics as they work to develop remote monitoring programs for patients with comorbidities like heart failure. The company had further provided solutions for the remote monitoring in COVID-19 that excel the revenue for the company.