Global Industry Analysts' new report "Picture Archiving and Communication Systems (PACS): A Global Strategic Business Report" provides a review of market trends, growth drivers, challenges, mergers, acquisitions, and other strategic industry activities.
Radiology and cardiology PACS are the major revenue generators in the global PACS market. However, as the radiology PACS market approaches maturity and nears saturation among large-scale healthcare institutions in North American, the focus is moving to nonradiology departments, particularly cardiology. Orthopedics and dental PACS also are expected to gain ground in the near term.
The report provides revenue estimates and projections for all major geographic markets, including the U.S., Canada, Japan, Europe, Asia-Pacific, Latin America, and the rest of world.
According to the report, the U.S. leads the global market because of a higher acceptance of PACS in diagnostic imaging. North America, Europe, and Japan account for the bulk of global market revenues and are driven largely by replacement demand, and maintenance and support services.
Developing economies are forecast to power future growth driven by increasing acceptance of PACS in healthcare and increasing government investments in healthcare IT. Asia-Pacific, spearheaded by China, is forecast to register the fastest compound annual growth rate of 15.8% over the analysis period.
