The global cardiology PACS market will grow to reach $891 million in value by 2017, according to a report from market research firm Global Industry Analysts.
Growth will be driven by the increase in cardiac screening procedures and efforts by healthcare providers to achieve superior treatment outcomes. Imaging modality advances also contribute to increased demand for cardiology PACS, Global Industry Analysts said.
In other trends, cardiology PACS is also gradually moving toward widespread integration with other modalities in the healthcare system, the firm said.
The U.S. represents the largest regional cardiology PACS market, led by the echocardiography lab segment. However, demand for cardiovascular IT offerings is expected to be tempered in the following years, due to an increasing focus on electronic medical records (EMRs) to capitalize on government stimulus funding, according to the company. Demand should pick up again once hospitals and physician practices employ EMRs.
Europe trails the U.S. sector in cardiology PACS revenues, and overall market growth is expected to emanate mainly from regions other than U.S. and Europe; the "rest of world" market is forecasted to increase at a compound annual growth rate (CAGR) of more than 9% during the analysis period, Global Industry Analysts said.
