May 9, 2007 - A report recently released by independent market analyst Datamonitor (London, UK), predicts the PACS market in Europe and North America will reach a value of $8.6 billion by 2011, compared to an estimated $4.9 billion today, providing increasing opportunities for technology vendors.
The study reported that PACS is proving a success in North America, the United Kingdom and the Scandinavian countries. According to Datamonitor, with PACS technology evolving from acting as merely radiology-centric, it is moving into different healthcare departments and also other industry sectors, including academic institutions and pharmaceutical companies.
The value of cost-savings, time efficiency and a higher degree of patient care, which PACS brings to healthcare and beyond, is driving market growth. With PACS installed, clinicians can have access to large quantities of medical history at their fingertips, enabling fast cross-referencing, saving valuable time in dealing with complicated cases. For radiologists, PACS enables a far faster turn-around with each patient, creating a more efficient system.