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Sydney, Australia, 2007/08/31 - New analysis Frost & Sullivan, Australia Cardiology PACS Market, reveals that the market was worth AU$9.2 million (US$7.5 million) in 2006 and estimates this to reach AU$15.8 million (US$12.9 million) in 2010, growing at a CAGR of 14.5 per cent.
Cardiology PACS adoption will gain momentum in Australia in the next few years. Although the factors such as cost of the solution and limited awareness are acting as roadblocks at present, a conscious effort by the solution providers to educate users and the role of information technology in making cardiology workflow more patient-centric and efficient will drive the future growth of this market.
New analysis from global growth consulting company, Frost & Sullivan (medicalimaging.frost.com), Australia Cardiology PACS Market, reveals that the market was worth AU$9.2 million (US$7.5 million) in 2006 and estimates this to reach AU$15.8 million (US$12.9 million) in 2010, growing at a CAGR of 14.5 per cent.
Ageing of population and the increasing incidence of cardiovascular disease will cause a substantial increase in the number of cardiac imaging procedures. There will be a need to improve efficiency and reduce operating costs by providing better imaging techniques, faster and easier post-processing and archiving, extensive accessibility to reviewing, reporting and maximum integration with the hospital enterprise.
"The demand for higher efficiency in the cardiology workflow is driving the need for Cardiology PACS solutions", says Frost & Sullivan consulting analyst, Mr. Sourabh Kankhar. "With the number of cardiac imaging procedures growing each year, cardiologists, cardiac radiographers and technicians will demand access to digitally stored images."
Although the awareness about the benefits of image management solutions is increasing in the radiology departments, awareness is still low among the key users of these solutions in the cardiology department.
Adds Mr. Kankhar, "cardiologists, cardiac radiographers and technicians have a low awareness about the functionality, applications and price of image management and workflow management solutions for the cardiology department."
Therefore, Cardiology PACS providers have to educate cardiologists, cardiac radiographers and technicians that implementation of an image management solution helps the cardiology department to streamline workflow, expedite and improve the delivery of patient care, and use resources more efficiently.
The Australia Cardiology PACS Markets 2006 - 2010 is part of the Healthcare Growth Partnership Service. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants. Interviews with the press are available.
If you are interested in a virtual brochure, which provides the methodology adopted for this research, a brief synopsis along with a complete table of contents, then send an email to Sharmin Jassal, Corporate Communications, at sharmin.jassal[.]frost.com with your full name, company name, title, telephone number, fax number, city, state, country and email address. Upon receipt of the above information, an overview will be sent to you by email.
About Frost & Sullivan
Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics.