Global Cardiovascular Picture Archiving and Communication Systems Market to Reach $891 Million by 2017, According to New Report by Global Industry Analysts, Inc.

Share Article

GIA announces the release of a comprehensive global report on Cardiovascular Picture Archiving and Communication Systems (CV-PACS) markets. 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 market growth include increasing incidence of cardiovascular diseases, significant advances across various imaging modalities, a drive towards increasing workflow efficiencies, and a gradual move of cardiology PACS towards the widespread integration with other modalities.

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

Follow us on LinkedIn – Cardiovascular diseases continue to be the leading cause of mortality worldwide, despite the declining death rates over the past two decades. An estimated 30 million people worldwide get afflicted from cardiovascular diseases each year. According to the WHO, cardiovascular diseases kills an estimated 17 million people each year the world over although they are preventable and treatable. Cardiology imaging is presently considered as one of the leading causes that help in reducing mortality due to cardiovascular diseases alongside other causes, such as therapies, novel stent technology, and reduction in smoking. Significant advances across various imaging modalities, such as MRI, CT, echocardiography, PET/CT and SPECT in the area of cardiology have created substantial demand for CV-PACS (Picture Archiving and Communication Systems) that can provide individualized solutions befitting evolving needs of patient image management.

The recent global economic downturn produced a substantial negative impact on the global CV-PACS market. Several markets worldwide, especially developed markets such as the US, Japan, and Europe witnessed a decline in market revenues in the year 2009. Churned with the prevalent weaker economic conditions, hospitals and physician practices faced significant shortages in budgets that led to cautious and restricted spending. Since CV-PACS is generally not considered vital for the immediate running of catheterization or echocardiography labs, several facilities have put off their purchases during the tough economic conditions, which affected the overall market revenues during the years 2008 and 2009. However, the market recovered from the year 2010, and continues to register steady growth then on.

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). Europe stands at a distant second in terms of market revenues. Growth is forecast to come mainly from developing regions, including Asia-Pacific. The Rest of world market is forecast to exhibit a compounded annual growth rate of 9.0% during the analysis period. In terms of applications, Echo Lab represents the largest application area for CV-PACS in the US, followed by the Cath Lab. Demand for CV-PACS is also expected to be the fastest amongst these units, compared to the other application areas.

Cardiologists are inching beyond cardiology PACS, and are increasingly embracing richer functionality offered by integrated image as well as information management systems. Cardiologists are presently deriving substantial improvements in the area of diagnosis and reporting functions through several advances in imaging technologies as well as from the integration of image and non-image information. With increasing benefits from these domains, cardiologists in major markets globally are embracing image and information technologies that offer integration benefits to them. Though the demand for C-PACS capabilities is rising in the backdrop of significant technological advancements in medical imaging technologies, such as CT, MR, SPECT, and PET/CT, there is a growing demand for the integration of C-PACS with other non-image information generated in cardiology settings.

Hospitals across the US and Europe are also embarking on the integration of cardiology and radiology PACS. Though cardiology PACS and radiology PACS and their individual markets have been essentially separate, some PACS vendors have successfully ventured into and developed integrated PACS software for cardiology and radiology. This synergy between C-PACS and R-PACS markets is reaping benefits for vendors who offer unified systems. Additionally, the consolidation of image management from various modalities on a single platform can be achieved by multi-modality solutions, which results in creating a single integrated system that uses advanced workstations supporting latest standards in cardiovascular care.

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 leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

Follow us on LinkedIn

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

###

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Public Relations
Visit website