Transparency Market Research

Heart Failure Software Market to Reflect Impressive Growth Rate by 2024

 

Albany, NY -- (SBWIRE) -- 08/28/2018 -- The global Heart Failure Software Market is growing significantly due to changing healthcare system. Rising demand for monitored care for individual health has in turn increased demand for heart failure software. Technological advancements and increased accessibility to personal healthcare systems are some factors projected to drive growth of the heart failure software market.

Rising need for continuous health assessment and dynamic advancements in technology have introduced various applications of clinical decision support system such as heart failure software system. Heart failure software enables management of cardiac patients safely and efficiently. It offers support to patients in cardiac activity monitoring and analyzing risk zone of patients with cardiac diseases. Documenting, assessment, activity monitoring, referrals, communicating between physicians for treatment, follow up, etc. are activities carried out through heart failure software. Thus, it is deployed by hospitals, cardiac clinics and other clinical facilities for continuous assessment and monitoring of patients. With patient numbers increasing due to the combined effects of improved survival after heart attack and an ageing population, the management of heart failure patients will continue to have a significant impact on healthcare resources. Thus, driving growth of the heart failure software market. Continuous monitoring of cardiac condition helps improve treatment compliance, improves control on symptoms, decrease patients clinical visits, improves patient outcome, enables detailed investigation for the cardiac symptoms, etc.

Rising health awareness, increasing demand for continuous health monitoring, and shifting consumer preference towards a healthy lifestyle has led the heart failure software market to upsurge substantially. Technological advancements have led to the emergence of various health monitoring devices such as remote patient monitoring, activity tracker and wearable medical devices that in turn are expected to drive growth of the heart failure software market. Moreover, rising need for continuous monitoring of health in lifestyle diseases such as cardiac arrest, hypertension, etc. has led to increase in demand for heart failure software.

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Increasing demand for access to patient health records (PHR/ PHI) is the important factor leading to Heart Failure Software market growth. Awareness is the important factor for increasing the adoption rate for Heart Failure Software. Thus, government and various international organization across the globe are being involved in various initiatives undertaken to increase the awareness about the monitoring devices. Various government and non – government organization continuously operates in development of advanced healthcare solutions by offering funds, leveraging technology and skills. For an instance, according to study published by Wolters Kluwers in 2016, the use of clinical decision support system for heart failure patients has shown improved health outcomes in patients and decrease in readmissions.

In terms of type of model, heart failure software market is categorized into knowledge based and non – knowledge based. Knowledge based heart failure software was observed with relatively significant demand than the other. However, the challenges reported in the type of models is the interoperability of different systems or platforms existing in hospital and clinical setup. Moreover, increasing advancement in personal medical devices is anticipated to exert positive impact on overall heart failure software market.

In terms of delivery mode, heart failure software market is segmented into web-based, on-premises and cloud-based systems. Cloud based systems is the fastest growing segment in the market.

In terms of end users, hospital segment is expected to account for major share in heart failure software market, due to increasing adoption of electronic health records (EHR) and remote patient monitoring system. Rising awareness about personal health amongst the population is expected to drive growth of the consumer segment over the near future.

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