World PACS, RIS, and CVIS Markets Calculated to Exceed USD 4.5 billion by 2016

The global market for picture archiving and communication systems (PACS), cardiovascular information systems (CVIS), and radiology information systems (RIS) are forecasted to expand by more than USD 1 billion over the next five years, according to a new database and market report.

With declining budgets, healthcare providers are under increasing pressure to develop effective ways of improving efficiency and reducing costs, while maintaining high levels of patient care, according to market research company, InMedica (Wellingborough, UK), a division of IMS Research (recently acquired by HIS, Inc., Englewood, CO, USA).

Enterprise-wide integration is of mounting significance across healthcare information technology (IT) and there is increasing demand for PACS, RIS and CVIS to be integrated into hospital IT systems. Moreover, demand for sophisticated reporting analytic systems, expanding hospital consolidation, and managed service business models are all stimulating growth in the PACS, RIS, and CVIS markets worldwide.

“With growing demand for collaboration across the care-continuum, healthcare IT systems are increasingly being utilized to achieve enterprise integration and multidisciplinary patient care. The requirement for enhanced workflow efficiency, integration, and data accessibility will continue to drive growth in the global PACS, RIS, and CVIS markets,” commented Rhian Thorburn, an analyst at IMS Research.

In 2010, the installed base for radiology PACS was estimated to be 23% of the total available market; and InMedica forecasts this to reach 42% by 2016. The radiology IT market is reaching maturity in several developed countries, with the large-scale market in North America projected to reach saturation by 2015. Healthcare providers in the more developed regions are changing their focus to cardiology IT; for large-scale hospitals, there is great demand for integration of cardiology within the hospital enterprise to improve workflow effectiveness, data access, and finally, enhance patient care.

“An emerging trend in the cardiology PACS market is the consolidation of multiple modality-specific cardiology systems into one holistic solution. This is driving growth of cardiology PACS revenues and is consistent with demand for hospital-wide PACS integration,” continued Ms. Thorburn.

The focus in developing regions is to improve healthcare infrastructure and provision to catch up to the more developed markets. Furthermore, increased acceptance of PACS and RIS to improve workflow and productivity should stimulate strong growth in many of these countries, including Brazil and India.

IMS Research is a supplier of market research and consultancy to over 2,500 clients worldwide, including most of the world’s largest technology companies.

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