MOUNTAIN VIEW, Calif., Sept. 12, 2012 /PRNewswire/ -- The historically sustained growth in the radiology informatics market, continued thanks to solid annual growth in radiology picture archiving and communication systems (PACSs), finally reversed to negative territory for three consecutive years, from 2009 to 2011. During this period, revenue growth was pulled down by unfavorable macroeconomic factors including market saturation, lengthening replacement cycles and the focus of healthcare IT enterprises on electronic health record (EHR) related projects. However, the persisting need of medical imaging providers for new advanced system capabilities that reinforce the clinical, IT as well as the value proposition of the imaging enterprise to internal stakeholders and patients is warranting the replacement of legacy systems and the adoption of next generation image and information management platforms.
New analysis from Frost & Sullivan's (http://www.medicalimaging.frost.com) Analysis of the North American Radiology Image and Information Management Systems Market research finds that the market earned revenues of $1.1 billion in 2011 and estimates this to reach $1.4 billion in 2018. The current dynamics in the radiology IT marketplace suggest that market revenues will revert to a steady but very slow growth path as the field embarks slowly but surely on a new wave of system replacements.
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An unfavorable growth landscape continues to prevail in the radiology informatics market space, owing to the slowing of imaging procedure volume growth and declining reimbursement
|SOURCE Frost & Sullivan|
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