A slow growth pattern will continue over the next five years in the PACS and RIS/PACS market, according to market research firm Frost & Sullivan.
Frost & Sullivan's analysis of the North American radiology image and information management systems market finds that the market earned revenues of $1.1 billion in 2011. The company estimates this revenue will reach $1.4 billion in 2018.
Historically, this market has sustained annual growth, but that trend reversed from 2009 to 2011, affected by factors such as market saturation, lengthening replacement cycles, and the focus of healthcare IT enterprises on projects related to electronic health records, Frost & Sullivan said.
