European PACS Market To Attain $512M by 2015
TORONTO, Nov. 11, 2010 /PRNewswire/ — According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, although the European PACS, RIS, and CVIS market is largely a replacement market, there are key opportunities for vendors over the next five years in the United Kingdom and France.
In the UK, the expected renewal of the National Health Services (NHS) Radiology IT Project in 2013 presents a large opportunity for radiology PACS and RIS vendors. All NHS hospitals will have the opportunity to replace their aging radiology PACS/RIS systems, with the option of remaining with the same vendor or changing their systems completely with new vendors. Companies are anticipating that the vast majority of these hospitals will replace their systems between 2013 and 2015.
In France, very low penetration of PACS systems in public hospitals has led to cooperation among healthcare departments to formulate a proposal to upgrade systems in public hospitals. A pilot project with GE as the PACS vendor will test the PACS software-as-a-service model in the Paris region. If the proposal is approved, it represents a major opportunity for PACS/RIS vendors to increase their revenues.
“This market is mature, and the bulk of the sales are for replacements,” says Basim Mansour, Analyst at MRG. “Consequently, growth rates in most European countries will hover around 5% over the next five years. UK and France, however, offer PACS vendors attractive revenue growth opportunities. Unlike other western European markets, in France, the penetration of PACS is quite low; with renewed government emphasis on PACS, this market is set to take off. Additionally, contract renewals in the UK as part of the NHS radiology IT project will also boost this market from 2013.”
MRG’s European Markets for PACS, RIS, and CVIS 2011 report provides critical insight into trends that will fuel and limit market growth for the radiology and cardiology PACS, RIS, and CVIS markets in France, Germany, Italy, Spain, the UK, Benelux, and Scandinavia. The report includes a breakdown of units sold, average selling prices, market values, and market shares for radiology and cardiology PACS, RIS, and CVIS through 2015.
About Millennium Research Group
Millennium Research Group (www.MRG.net), a Decision Resources, Inc. company (www.DecisionResourcesInc.com), is the global authority on medical technology market intelligence and the leading provider of strategic information to the healthcare sector. The company provides specialized industry expertise through multiclient market research, ongoing Marketrack(TM) projects, customer behavior tracking, facility-level procedure forecasting, and customized solutions.
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SOURCE Millennium Research Group