Worldwide PACS Market to Grow 10% Annually to $5.8 billion in 2017

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The worldwide market for Picture Archiving and Communication Systems (PACS) is expected to grow by 10% annually to about $5.8 billion by 2017, according to MarketResearch.com.

The global market research firm credits government initiatives to encourage electronic medical records and the digital storage of medical images, based on a report on FierceHealthIT.com..

In addition, PACS are being used more by other specialists such as oncology, endoscopy and cardiology. In 2010, the worldwide PACS market reached $2.8 billion, according to the report.

Private sector initiatives to improve connectivity along with rising healthcare costs and an aging demographic are also key factors in the growing demand for PACS.

For the full report click here.