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.
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