Global Cardiovascular Picture Archiving and Communication Systems (CV-PACS) Market to Reach $891 Million by 2017, According to New Report by Global Industry Analysts, Inc

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GIA announces the release of a comprehensive global report on Cardiovascular Picture Archiving and Communication Systems (CV-PACS) market. The global market for Cardiovascular Picture Archiving and Communication Systems (CV-PACS) is forecast to reach $891 million by the year 2017. Major factors driving growth in the market include growing aging population, rising incidence of cardiovascular diseases, increasing cardiovascular imaging procedural volume, advancement of imaging technologies, and a drive towards increasing workflow efficiencies.

Cardiovascular Picture Archiving and Communication Systems (CV-PACS): A Global Strategic Business Report

A dramatic increase is being witnessed in the incidence of cardiovascular diseases due to aging world population that is susceptible to such diseases, and several other contributory factors including widespread obesity and poor dietary habits. Resultantly, an increasing emphasis on routine screening for individuals of 45 years of age and above is also being witnessed, which is indicative of the recent shift away from acute interventional care towards preventative care. Consequently, cardiac screening is beginning at a much earlier age, with physicians seeking to uncover potential cardiovascular issues before the onset of chronic cardiopulmonary disease. As a result of these trends, the number of diagnostic procedures has increased over the years, creating significant amount of workload on healthcare facilities and providers.

In addition, consistent efforts on the part of healthcare providers to provide superior treatment outcomes continue. An obvious upshot of such an effort is to seek technological solutions that can enable availability and retrieval of disparate patient information, including images and data, at a single source, which could empower caregivers to make informed and superior decision making. PACS (Picture Archiving and Communication Systems) emerged to address this need. Significant advances across various imaging modalities such as MRI (Magnetic Resonance Imaging), CT (Computed Tomography), echocardiography, PET/CT and SPECT in the area of cardiology have created substantial demand for cardiovascular Picture Archiving and Communication Systems, that can offer individualized solutions befitting evolving needs of cardiology image management.

For years, Cardiology PACS has largely been used for managing echocardiography images and data that emerged from cardiac catheterization suite. However, with changing practices over the recent years, there is currently a growing requirement for integrating such data with a range of images produced from an array of new imaging modalities that are surfacing in the cardiac imaging arena. For instance, there is a need for retrieving cardiac cath lab-produced cine loops along with reconstructed images produced by multi-slice cardiac CT angiography. Further, such requirements are only rising with widespread increase in use of cardiac MRI. Besides, there is the ever-increasing need for retrieving non-image data including demographics and scheduling functions of patients along with image data. Resultantly, cardiology PACS is gradually moving towards the realm of widespread integration with other modalities in the healthcare system.

The US represents the largest regional market for CV-PACS, as stated by the new market research report on Cardiovascular Picture Archiving and Communication Systems (CV-PACS). Within the US, Echocardiography Lab represents the largest end-use area for CV-PACS. The US economic stimulus plan that was unveiled in the year 2009 provides financial incentives for physician practices and hospitals for adopting EMRs (Electronic Medical Records). As a result of increasing focus on adoption to EMRs in a bid to capitalize on the government funding, growth in demand for cardiovascular IT workflow solutions, including catheterization lab IT solutions and echocardiography lab IT solutions, is expected to be tempered to an extent in the following years. However, demand for cardiovascular IT solutions would pick up once hospitals and physician practices employ EMRs. This is due to the fact that integration of these solutions with EMRs becomes more important for healthcare establishments. Europe trails behind the US market in terms of revenues, while growth is expected to emanate mainly from regions other than US and Europe. Demand for cardiovascular PACS in the Rest of World market is forecast to increase at a CAGR of more than 9.0% during the analysis period.

Major players profiled in the report include Agfa HealthCare NV, Fujifilm Medical Systems USA Inc., GE Healthcare, Infinitt North America, Lumedx Corporation, RADinfo Systems, Royal Philips Electronics, ScImage Inc., Siemens Healthcare USA Inc., among others.

The research report titled “Cardiovascular Picture Archiving and Communication Systems (CV-PACS): A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the Cardiocascular PACS market, current market trends, key growth drivers, recent product introductions, recent industry activity, and profiles of major/niche global market participants. The report provides annual sales estimates and projections for Cardiovascular PACS (CV-PACS) for the years 2009 through 2017 for the following geographic markets - US, Canada, Japan, Europe, and Rest of World. The report also analyses the US market for CV-PACS by the following end-use segments – Echocardiography Labs, Catheterization Labs, and Other Cardio Labs. Also, a six-year (2003-2008) historic analysis is provided for additional perspective.

For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Cardiovascular_Picture_Archiving_and_Communication_Systems_CV_PACS_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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