Global PACS, RIS & CVIS Markets to Exceed $4.5 Billion by 2016
InMedica, a division of IMS Research, forecasts the world market for PACS, RIS, and CVIS to grow by more than $1 billion over the next 5 years, according to a new database, The World Market for PACS, RIS and CVIS--2012 Edition. There is rising demand for enterprise-wide integration and for PACS, RIS and CVIS to be incorporated into hospital IT systems. Growing hospital consolidation, demand for advanced reporting analytics and managed service business models are all driving growth in the PACS, RIS and CVIS markets worldwide. In 2010, the installed base for radiology PACS was estimated to be 23 percent of the total available market. InMedica forecasts this to reach 42 percent 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 turning their focus to cardiology IT; for large-scale hospitals, there is strong demand for integration of cardiology within the hospital enterprise to improve workflow efficiency, data access and ultimately, enhance patient care. In developing regions, the focus is to improve healthcare infrastructure and provision, to align with more developed markets. Increased acceptance of PACS and RIS to improve workflow and productivity should drive strong growth in many of these countries, including Brazil and India.