News | February 17, 2009

Global PACS Market to Reach $4.8B by 2015 Says GIA Report

February 18, 2009 – The global market for picture archiving and communication systems (PACS) is expected to witness steady growth and$4.8 Billion by 2015, driven by increasd adoption across imaging centers and hospitals, advances in communication and enterprise technologies, and integrated with other imaging modalities, said a report by Global Industry Analysts Inc. (GIA).
According to the report, Picture Archiving and Communication System (PACS): A Global Strategic Business Report, as the technology evolves from being a radiology-centric technology to a core data management technology for healthcare departments, pharmaceutical companies and academic institutions, the PACS market is expected to offer significant opportunities for vendors.
Also, PACS in Europe, where the market is less robust compared to the U.S., there is significant potential for PACS growth due to the European healthcare community’s need to reduce healthcare costs while simultaneously providing quality patient care and services, GIA's report said. In Asia-Pacific, growth in demand for PACS is likely to be driven by the cost efficient initiatives being implemented by the hospitals in the region. Software licenses represent the largest segment, while services is the fastest growing segment.
Increasing imaging data volumes will fuel demand for advanced reporting and management capabilities, technological advancements, and extending benefits beyond the radiology department to other modalities, represent the key factors driving market growth.

For more information: www.strategyr.com/Picture_Archiving_and_Communication_Systems_PACS_Marke....

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