PACS, teleradiology market to reach $4.4B by 2010

According to a report from market research firm, Global Industry Analysts (GIA);

“The global market for PACS and teleradiology systems is projected to reach $4.4 billion by 2010, despite the fact that the transition to a digital information environment is fraught with challenges, such as the high cost of purchasing, installing and implementing a PACS and uncertainty over security of patient data.”

While I’m not exactly sure what research methodology and extrapolation tools they use in deriving this figures, I’m sure the teleradiology will be in huge demand in the coming years simply due to an advancement of technology and shortage of radiologist (and even radiographers).

The report indicated that

1. The United States, Europe, and Japan dominates the global PACS and teleradiology systems market, having captured more than 88 percent share of sales in 2006
2. In Japan, the radiology information systems market is estimated at $98 million for 2007
3. Market penetration of PACS technology although gaining momentum, is less robust in Europe as compared to the United States
4. PACS and teleradiology in Europe presents strong potential opportunities as the region, which is driven by the European healthcare community’s dire need to reduce healthcare costs while simultaneously provide quality patient care and services.
5. 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

In my humble opinion, I think the 5 points above hold certain ‘truth’ but almost everyone working on the solution provider end (the vendors) would already know that (I personally don’t really agree with point 2)

The original article can be read here.

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