LONDON, June 4, 2012 /PRNewswire/ -- The East European picture archiving and communication system (PACS) market lags behind its western counterpart in size and pace. Although it is growing, most of the trends observed in the market are reminiscent of the trends in Western Europe 10 to 15 years ago.
New analysis from Frost & Sullivan (http://www.medicalimaging.frost.com), East European PACS Market, finds that the market earned revenues of $18 million in 2010 and estimates this to reach $36.4 million in 2017.
So far, governments have allotted only a small percentage of the gross domestic product (GDP) to healthcare. They still adopt the traditional approach, wherein a single modality fulfills the basic scope of imaging and reporting.
"However, the market is likely to get a move on with most regional governments mandating healthcare service providers to maintain archives for at least 30 years," says Frost & Sullivan Research Analyst Rohan Panda. "This will give a much needed boost to the market - if not for the high-end segment, definitely for the low-end PACS segment."
End users are also waking up to the benefits of IT in healthcare and are demanding more solutions, as the database of images can be used for referrals across different hospitals and countries.
As East Europe is a highly price-sensitive market, the high costs of fully-integrated PACS solutions are a major adoption barrier. Unfortunately, the concept of leasing is still nascent in this market. Therefore, participants need to develop simpler financing and payment policies. Financing services like easy loan payments and funding by private sectors or major vendors are expected to improve product uptake.
"Uncomplicated payback systems offer both the vendor and the client a chance to maintain long-term relationships with each other," notes Panda. "Vendors can further customise their offerings based on local demand and trends such as incorporating the local dialect into the user interface and providing flexible hardware or software options at the time of replacement or upgrade."
If you are interested in more information on this study, please send an e-mail with your contact details to Janique Morvan, Corporate Communications, at [email protected].
East European PACS Market is part of the Medical Imaging Growth Partnership Services program, which also includes research in the following markets: East European PACS Market, Medical Imaging Market Outlook for CEE and Russia, European Computer aided detection (CAD) Markets and European Market for Magnetic Resonance Imaging Modalities. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.
Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.
- The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
- The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.
For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?
East European PACS Market
Corporate Communications – Europe
P: +33 (0)1 42 81 20 37
M: +33 (0)6 79 22 41 42
E: [email protected]
SOURCE Frost & Sullivan