Picture Archiving and Communication Systems Market to 2020 · Picture Archiving and Communication...

Picture Archiving and Communication Systems Market to 2020 Digitization of Healthcare Systems and Evolution of PACS as a Decision Support Tool Drive Growth

GBI Research Report Guidance

© GBI Research. This is a licensed product and is not to be photocopied GBIME0100MR / Published OCT 2014

GBI Research Report Guidance

Chapter three provides definitions of PACS included in the scope of the report.

Chapter four provides information on the market size for the 2006–2013 historic period and the 2013–2020 forecast period. The chapter also provides information on key company shares in the global PACS market. The chapter discusses the key trends and market dynamics that are expected to impact future growth.

Chapter five gives information on market size for the historic and forecast period for the US, Japan, Germany, UK, France, Brazil, Italy, China, Canada, Australia, Spain and India, with cross-country analysis.

Chapter six comprises profiles of the leading companies in the PACS market, outlining their products, features and benefits.

Chapter seven focuses on the pipeline products for each segment. The key pipeline products are listed and discussed in detail alongside product approval and expected launch dates.

Chapter eight discusses the deals that took place in the PACS market between 2009 and 2014.


Executive Summary

Executive Summary

Global Picture Archiving and Communication Systems Market to See Significant Growth during the Forecast Period

The following figure shows the projected revenue growth of the global Picturing Archiving and Communications System (PACS) market over the 2013–2020 historic period.

Picture Archiving and Communication Systems Market, Global, Revenue ($m), 2013–2020

XX

Base year market size (2013)

$XXbn $XXbn

Historic CAGR

XX%

Forecast CAGR

XX%

Market scenario

Market share held by top five companies

XX%

Extent of technical change

XX

Projected market size by 2020

Source: GBI Research, Proprietary Database [Accessed June 2, 2014]

CAGR: Compound Annual Growth Rate

The global PACS market was valued at $XX billion in 2013 and is forecast to exceed $XX billion by 2020, growing at a Compound Annual Growth Rate (CAGR) of XX%. Government initiatives will continue to encourage the digitization of healthcare systems and promote technical advances in imaging informatics. Moreover, the awareness of the importance of digitizing image storage, retrieval and sharing has led to expansion of the use of PACS to other medical specialties such as oncology and endoscopy. This expansion will further result in increased usage of PACS in cardiology imaging, which will in turn drive revenue growth during the forecast period.

An increasing need for upgrades to conventional PACS systems to new, feature-rich PACS that enable interoperability and flexibility in image viewing will drive future growth in the developed world. Developed economies such as the US and Europe will primarily be replacement markets for PACS systems as penetration is already high. However, companies are shifting their focus to developing economies, where penetration is low. A lack of reimbursement and affordability, however, means that countries such as India and China will require low-cost PACS units. There is therefore an urgent need for companies to develop affordable PACS systems that do not compromise on features such as integration with Electronic Medical Records (EMR) and Radiology Information Systems (RIS). This will allow them to sustain revenue growth during the forecast period, as intense competition will continue to drive down the prices of PACS systems.

Government Efforts towards Healthcare IT Implementation and Technical Advances will Continue to Drive Future Growth

Technical advances in PACS in combination with initiatives from both the public and private sector have contributed to the increasing adoption of PACS by healthcare providers. Rising healthcare cost burdens and demographic changes have forced governments worldwide to improve healthcare delivery services while also reducing costs. This has placed increasing pressure on governments to address financial constraints and improve efficiency and affordability in healthcare. The global population is forecast to reach XX billion by 2050 and the population aged 65 years and above is expected to double by 2050 (United Nations News Centre, 2013). Aging populations will result in an increase in the prevalence of chronic diseases worldwide, which will be accompanied by growing image volumes for diagnosis. These trends have forced governments to initiate efforts in increasing the adoption of PACS to improve hospital productivity and clinical outcomes.

The global PACS market was valued at $XX billion in 2013 and is forecast to exceed $XX billion by 2020, growing at a Compound Annual Growth Rate (CAGR) of XX%.


Page 6

Table of Contents

1 Table of Contents

1 Table of Contents ................................................................................................................................. 6 1.1 List of Tables ............................................................................................................................. 8 1.2 List of Figures............................................................................................................................ 9

2 Introduction........................................................................................................................................10 3 Global Picture Archiving and Communication Systems Market: Definitions ...........................................11

3.1 Picture Archiving and Communication Systems .........................................................................11 3.2 Cardiology Picture Archiving and Communication Systems ........................................................11 3.3 Radiology Picture Archiving and Communication Systems .........................................................11

4 Picture Archiving and Communication Systems: Global Market Characterization ..................................12 4.1 Global Picture Archiving and Communication Systems Market, Revenue, 2006–2020 ................12 4.2 Picture Archiving and Communication Systems Market, Global, Key Company Shares, 2013 ......13 4.3 Picture Archiving and Communication Systems Market, Key Trends ..........................................15

4.3.1 Vendor-Neutral Archives to Drive Adoption .......................................................................15 4.3.2 PACS Integration with Mobile Operating Systems to Drive Future Growth ..........................16 4.3.3 Automated Software Rendering Solutions and Improved Reporting Platforms to Drive Future

Growth ............................................................................................................................17 4.4 Market Dynamics .....................................................................................................................17

4.4.1 Market Drivers .................................................................................................................17 4.4.2 Market Restraints ............................................................................................................20

5 Global Picture Archiving and Communication Systems Market: Country Analysis and Forecasts ............22 5.1 Picture Archiving and Communication Systems Market: Cross-country Analysis.........................22 5.2 Historic and Forecast Revenue and Volume, by Country............................................................24

5.2.1 Picture Archiving and Communication Systems Market, US, Revenue and Volume, 2006–2020 ................................................................................................................................24

5.2.2 Picture Archiving and Communication Systems Market, Japan, Revenue and Volume, 2006–2020 ................................................................................................................................27

5.2.3 Picture Archiving and Communication Systems Market, Germany, Revenue and Volume, 2006–2020.......................................................................................................................29

5.2.4 Picture Archiving and Communication Systems Market, France, Revenue, 2006–2013 ........31 5.2.5 Picture Archiving and Communication Systems Market, UK, Revenue and Volume, 2006–

2020 ................................................................................................................................33 5.2.6 Picture Archiving and Communication Systems Market, Spain, Revenue, Volume, 2006–2020

........................................................................................................................................35 5.2.7 Picture Archiving and Communication Systems Market, Italy, Revenue, Volume, 2006–2020

........................................................................................................................................37 5.2.8 Picture Archiving and Communication Systems Market, Canada, Revenue, Volume, 2006–

2020 ................................................................................................................................39 5.2.9 Picture Archiving and Communication Systems Market, China, Revenue, Volume, 2006–2020

........................................................................................................................................41 5.2.10 Picture Archiving and Communication Systems Market, Australia, Revenue, Volume, 2006–

2020 ................................................................................................................................43 5.2.11 Picture Archiving and Communication Systems Market, India, Revenue, 2006–2013 ..........45 5.2.12 Picture Archiving and Communication Systems Market, Brazil, Revenue, 2006–2020..........47

6 Global Picture Archiving and Communication Systems Market: Competitive Landscape ........................49 6.1 Comparison of Leading Picture Archiving and Communication Systems, 2014............................49 6.2 Comparison of Leading Picture Archiving and Communication Systems, 2014............................50 6.3 Company Profiles .....................................................................................................................51

6.3.1 GE Healthcare ..................................................................................................................51 6.3.2 Fujifilm Holdings Corporation ...........................................................................................52 6.3.3 Philips Healthcare ............................................................................................................53 6.3.4 Agfa-Gevaert ...................................................................................................................53


Page 7

Table of Contents

6.3.5 McKesson Corporation .....................................................................................................54 6.3.6 Carestream Health ...........................................................................................................54 6.3.7 Siemens Healthcare ..........................................................................................................55 6.3.8 Sectra AB .........................................................................................................................56 6.3.9 Cerner Corporation...........................................................................................................57 6.3.10 Merge Healthcare ............................................................................................................58

7 Global Picture Archiving and Communication Systems Market: Product Pipeline Analysis .....................59 7.1 Picture Archiving and Communication Systems Market: List of Pipeline Products ......................59 7.2 Picture Archiving and Communication Systems Market: Profiles of Key Pipeline Products ..........59

7.2.1 Impax CV Web+................................................................................................................59 7.2.2 Impax REM ......................................................................................................................59 7.2.3 SmartPAC ........................................................................................................................60 7.2.4 Synapse Cardiovascular 6.0 ..............................................................................................60

8 Global Picture Archiving and Communication Systems Market: Consolidation Landscape......................61 8.1 Key Deals (2009–2014) .............................................................................................................61

8.1.1 Toshiba Medical Systems’ Acquisition of 70% Stake in TI Medical Systems from Infinitt, 2013 ........................................................................................................................................61

8.1.2 Force 3’s Acquisition of secureRAD, 2012 ..........................................................................61 8.1.3 7 Medical Systems’ Acquisition of Manager Consultoria, Health Informatics Company, 2012

........................................................................................................................................61 8.1.4 Mindray Medical’s Acquisition of Controlling Stake in Zhejiang Greenlander, 2011 .............61 8.1.5 Dell’s Acquisition of InSite One, Medical Data Archiving Company, 2010 ............................62 8.1.6 RadNet’s Acquisition of eRAD, 2010 ..................................................................................62 8.1.7 Orion Healthcare Ventures’ Acquisition of Aspyra, 2010 ....................................................62 8.1.8 Royal Philips Electronics’ Acquisition of Tecso Informatica, 2010........................................62 8.1.9 Merge Healthcare’s Acquisition of AMICAS, 2010 ..............................................................62 8.1.10 Paxeramed’s Acquisition of Millenmed, 2009 ....................................................................63

9 Appendix ............................................................................................................................................64 9.1 Abbreviations ..........................................................................................................................64 9.2 Bibliography ............................................................................................................................65 9.3 Research Methodology ............................................................................................................66

9.3.1 Secondary Research .........................................................................................................66 9.3.2 Primary Research .............................................................................................................66 9.3.3 Models ............................................................................................................................67 9.3.4 Forecasts .........................................................................................................................67 9.3.5 Expert Panel .....................................................................................................................67

9.4 Contact Us ...............................................................................................................................68 9.5 Disclaimer................................................................................................................................68


Page 8

Table of Contents

1.1 List of Tables

Table 1: Picture Archiving and Communication Systems Market, Global, Revenue ($bn), 2006–2020 .....12 Table 2: Picture Archiving and Communication Systems Market, Global, Key Company Shares by Region

(%), 2013 ................................................................................................................................14 Table 3: Picture Archiving and Communication Systems Market, Global, Vendor-Neutral Archive

Products, 2014 ........................................................................................................................15 Table 4: Picture Archiving and Communication Systems, Key Mobile Applications for PACS, 2014 ..........16 Table 5: Diagnostic Imaging Market, Global, Revenue ($bn), 2013–2020 ...............................................19 Table 6: Picture Archiving and Communication Systems Market, Global, Cross-country Analysis, 2006–

2020 .......................................................................................................................................23 Table 7: Picture Archiving and Communication Systems Market, US, Revenue ($bn) and Volume, 2006–

2020 .......................................................................................................................................25 Table 8: Picture Archiving and Communication Systems Market, Japan, Revenue ($m) and Volume, 2006–

2020 .......................................................................................................................................27 Table 9: Picture Archiving and Communication Systems Market, Germany, Revenue ($m) and Volume,

2006–2020 .............................................................................................................................29 Table 10: Picture Archiving and Communication Systems Market, France Revenue ($m) and Volume,

2006–2020 .............................................................................................................................31 Table 11: Picture Archiving and Communication Systems Market, UK, Revenue ($m) and Volume, 2006–

2020 .......................................................................................................................................33 Table 12: Picture Archiving and Communication Systems Market, Spain, Revenue ($m) and Volume, 2006–

2020 .......................................................................................................................................35 Table 13: Picture Archiving and Communication Systems Market, Italy, Revenue ($m) and Volume, 2006–

2020 .......................................................................................................................................37 Table 14: Picture Archiving and Communication Systems Market, Canada, Revenue ($m) and Volume,

2006–2020 .............................................................................................................................39 Table 15: Picture Archiving and Communication Systems Market, China, Revenue ($m) and Volume, 2006–

2020 .......................................................................................................................................41 Table 16: Picture Archiving and Communication Systems Market, Australia, Revenue ($m) and Volume,

2006–2020 .............................................................................................................................43 Table 17: Picture Archiving and Communication Systems Market, India, Revenue ($m) and Volume, 2006–

2020 .......................................................................................................................................45 Table 18: Picture Archiving and Communication Systems Market, Brazil, Revenue ($m) and Volume, 2006–

2020 .......................................................................................................................................47 Table 19: GE Healthcare, Key Marketed Products, 2014 ..........................................................................51 Table 20: Fujifilm Holdings Corporation, Key Marketed Products, 2014 ...................................................52 Table 21: Philips Healthcare, Key Marketed Products, 2014 ....................................................................53 Table 22: Agfa-Gevaert, Key Marketed Products, 2014............................................................................54 Table 23: McKesson Corporation, Key Marketed Products, 2014 .............................................................54 Table 24: Carestream Health, Key Marketed Products, 2014 ...................................................................55 Table 25: Siemens Healthcare, Key Marketed Products, 2013..................................................................56 Table 26: Sectra AB, Key Marketed Products, 2014 .................................................................................57 Table 27: Cerner Corporation, Key Marketed Products, 2014 ..................................................................57 Table 28: Merge Healthcare, Key Marketed Products, 2014 ....................................................................58 Table 29: Picture Archiving and Communication Systems Market, Global, List of Pipeline Products, 2014 59 Table 30: Impax CV Web+, Product Status, 2014 .....................................................................................59 Table 31: Impax REM, Product Status, 2014 ............................................................................................60 Table 32: SmartPAC, Product Status, 2014 ..............................................................................................60 Table 33: Synapse Cardiovascular 6.0, Product Status, 2014 ....................................................................60


Page 9

Table of Contents

1.2 List of Figures

Figure 1: Picture Archiving and Communication Systems Market, Device Overview.................................11 Figure 2: Picture Archiving and Communication Systems Market, Global, Revenue ($bn), 2006–2020 .....12 Figure 3: Picture Archiving and Communication Systems Market, Global, Key Company Shares by Region

(%), 2013 ................................................................................................................................13 Figure 4: Picture Archiving and Communication Systems Market, Market Trends ....................................15 Figure 5: Picture Archiving and Communication Systems Market, Market Dynamics ...............................17 Figure 6: Diagnostic Imaging Market, Global, Revenue ($bn), 2013–2020 ...............................................19 Figure 7: Picture Archiving and Communication Systems Market, Global, Cross-country Analysis, CAGR

(%), 2006–2020 .......................................................................................................................22 Figure 8: Picture Archiving and Communication Systems Market, US, Revenue ($bn) and Volume, 2006–

2020 .......................................................................................................................................24 Figure 9: Picture Archiving and Communication Systems Market, US, Key Company Shares (%), 2013 .....26 Figure 10: Picture Archiving and Communication Systems Market, Japan, Revenue ($m) and Volume, 2006–

2020 .......................................................................................................................................27 Figure 11: Picture Archiving and Communication Systems Market, Japan, Key Company Shares (%), 2013.28 Figure 12: Picture Archiving and Communication Systems Market, Germany, Revenue ($m) and Volume,

2006–2020 .............................................................................................................................29 Figure 13: Picture Archiving and Communication Systems Market, Germany, Key Company Shares (%),

2013 .......................................................................................................................................30 Figure 14: Picture Archiving and Communication Systems Market, France, Revenue ($m) and Volume,

2006–2020 .............................................................................................................................31 Figure 15: Picture Archiving and Communication Systems Market, France, Key Company Shares (%), 2013

...............................................................................................................................................32 Figure 16: Picture Archiving and Communication Systems Market, UK, Revenue ($m) and Volume, 2006–

2020 .......................................................................................................................................33 Figure 17: Picture Archiving and Communication Systems Market, UK, Key Company Shares (%), 2013 .....34 Figure 18: Picture Archiving and Communication Systems Market, Spain, Revenue ($m) and Volume, 2006–

2020 .......................................................................................................................................35 Figure 19: Picture Archiving and Communication Systems Market, Spain, Key Company Shares (%), 2013 .36 Figure 20: Picture Archiving and Communication Systems Market, Italy, Revenue ($m) and Volume, 2006–

2020 .......................................................................................................................................37 Figure 21: Picture Archiving and Communication Systems Market, Italy, Key Company Shares (%), 2013 ...38 Figure 22: Picture Archiving and Communication Systems Market, Canada, Revenue ($m) and Volume,

2006–2020 .............................................................................................................................39 Figure 23: Picture Archiving and Communication Systems Market, Canada, Key Company Shares (%), 2013

...............................................................................................................................................40 Figure 24: Picture Archiving and Communication Systems Market, China, Revenue ($m) and Volume, 2006–

2020 .......................................................................................................................................41 Figure 25: Picture Archiving and Communication Systems Market, China, Key Company Shares (%), 2013 .42 Figure 26: Picture Archiving and Communication Systems Market, Australia, Revenue ($m) and Volume,

2006–2020 .............................................................................................................................43 Figure 27: Picture Archiving and Communication Systems Market, Australia, Key Company Shares (%), 2013

...............................................................................................................................................44 Figure 28: Picture Archiving and Communication Systems Market, India, Revenue ($m) and Volume, 2006–

2020 .......................................................................................................................................45 Figure 29: Picture Archiving and Communication Systems Market, India, Key Company Shares (%), 2013 ..46 Figure 30: Picture Archiving and Communication Systems Market, Brazil, Revenue ($m) and Volume, 2006–

2020 .......................................................................................................................................47 Figure 31: Picture Archiving and Communication Systems Market, Brazil, Key Company Shares (%), 2013 .48 Figure 32: Picture Archiving and Communication Systems Market, Comparison of Leading Picture Archiving

and Communication Systems, 2014 .........................................................................................49 Figure 33: Picture Archiving and Communication Systems Market, Comparison of Leading Picture Archiving

and Communication Systems, 2014 .........................................................................................50


Page 10

Introduction

2 Introduction

Picturing Archiving and Communications Systems (PACS) are increasingly being sought by both public and private healthcare organizations to improve their workflow efficiencies, and governments are providing incentives to hospitals and physicians to adopt healthcare IT for their practices. Both of these factors are expected to drive the future PACS market.

A key advantages of PACS is that they eliminate the cost of the film rolls, large rooms and administrative employees required for the administration of film-based archives; reduce the number of associated errors; and remove the need for repeated imaging procedures due to loss of films. They also increase the productivity of medical imaging departments by accelerating their image workflow. In film-based hospitals, the images have to be distributed to various stations after the acquisition process, but in contrast, PACS make it possible to access the studies immediately after acquisition, reducing the turnaround time for reports. Integration with a Radiology Information System (RIS) can improve workflow efficiencies across an entire radiology department.

PACS can also reduce waiting times for patients, which improves higher customer satisfaction. Additionally, features such as web access enable remote access to patient images, and integrated diagnosis tools such as Computer Aided Detection (CAD) provide radiologists with advanced tools for accurate diagnosis.


Page 12

Picture Archiving and Communication Systems: Global Market Characterization

4 Picture Archiving and Communication Systems: Global Market Characterization

4.1 Global Picture Archiving and Communication Systems Market, Revenue, 2006–2020

The following figure shows the revenues generated by the global PACS market over the 2006–2020 period.

Figure 2: Picture Archiving and Communication Systems Market, Global, Revenue ($bn), 2006–2020

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Rev

enue

($b

n)

Radiology PACS Cardiology PACS


The following table shows the revenues generated by the global PACS market for the 2006–2020 period.

Table 1: Picture Archiving and Communication Systems Market, Global, Revenue ($bn), 2006–2020

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Historic

CAGR (%)

Forecast CAGR

(%)

Radiology PACS

Cardiology PACS

Total

Source: GBI Research Proprietary Database [Accessed June 2, 2014]



Page 29

Global Picture Archiving and Communication Systems Market: Country Analysis and Forecasts

5.2.3 Picture Archiving and Communication Systems Market, Germany, Revenue and Volume, 2006–2020

The following figure shows the revenues generated by the PACS market in Germany over the 2006–2013 period.

Figure 12: Picture Archiving and Communication Systems Market, Germany, Revenue ($m) and Volume, 2006–2020

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Num

ber o

f PA

CS

Rev

enue

($m

)

Revenue Volume

RadiologyPACS

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Num

ber o

f PA

CS

Rev

enue

($m

)

Revenue Volume

Cardiology PACS


The following table shows the revenues generated by the PACS market in Germany over the 2006–2020 period.

Table 9: Picture Archiving and Communication Systems Market, Germany, Revenue ($m) and Volume, 2006–2020

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Historic

CAGR (%)

Forecast CAGR

(%)

Radiology PACS (revenue)

Radiology PACS (volume)

Cardiology PACS (revenue)

Cardiology PACS (volume)

Source: GBI Research Proprietary Database [Accessed June 2, 2014]


Page 64

Appendix

9 Appendix

9.1 Abbreviations

AD: Active Directory

ATNA: Audit Trail and Node Authentication

CAD: Computer Aided Detection


CAS: Common Accounting System

CBCT: Cone Beam Computed Tomography

CIS: Cardiology Information Systems

CIS: Commonwealth of Independent States

CT: Computed Tomography

CVIS: Cardiovascular Information System

D: Dimension

DAS: Direct Attached Storage

DICOM: Digital Imaging and Communications in Medicine

DR: Digital Radiograph

DRG: Diagnosis Related Groups

EDI: Electronic Data Interchange

EMEA: Europe, the Middle East and Africa

EMR: Electronic Medical Records

FDA: Food and Drug Administration

FPD: Flat Panel Display

FY: Fiscal Year

GI: Gastrointestinal

HCIT: Healthcare Information Technology

HER: Electronic Health Records

HIE: Health Information Exchange

HIMSS: Healthcare Information and Management Systems Society

HITECH: Health Information Technology for Economic and Clinical Health Act

HL7: Health Level Seven International

HTTPS: Hypertext Transfer Protocol Secure

IHE: Integrated Healthcare Enterprise

ISA: Image Sharing & Archiving

IT: Information Technology

JV: Joint Venture

LIS: Laboratory Information Systems

MIM: Mobile Information Management

MPS: Managed Print Services


Page 65

Appendix

MRI: Magnetic Resonance Imaging

NAFTA: North American Free Trade Area

NAS: Network Attached Storage

NHS: National Health Service

OB/GYN: Obstetrics/Gynecology

OEM: Original Equipment Manufacturer

PACS: Picture Archiving and Communication Systems

PET: Positron Emission Tomography

PHI: Private Health Information

PM: Practice Management

R&D: Research and Development

REM: Radiation Exposure Monitoring

RIS: Radiology Information Systems

SaaS: Software as a Service

SAN: Storage Area Network

SATA: Serial ATA

SSL: Secure Sockets Layer

SVGA: Super VGA

TMSC: Toshiba Medical Systems Corporation

VNA: Vendor Neutral Archive

VPN: Virtual Private Network

9.2 Bibliography

Agfa-Gevaert (2014). Impax Agility. Agfa-Gevaert. Available from: http://www.agfahealthcare.com/global/en/main/news_events/news/archive/he20140213_agilityww.jsp [Accessed July 15, 2014]

Carestream Health (2014). Carestream Health Vue. Carestream Health. Available from: http://www.Carestream Health.in/vue-healthIT.html [Accessed July 15, 2014]

Cerner Corporation (2014). ProVision PACS. Cerner Corporation. Available from: http://www.cerner.com/Solutions/Hospital_and_Health_Systems/Clinical_Imaging/ProVision_PACS/?LangType=4105 [Accessed July 15, 2014]

Fujifilm Corporation (2014). SYNAPSE (PACS). Fujifilm Corporation. Available from: http://www.fujifilm.com/products/medical/synapse/ [Accessed July 15, 2014]

gbtimes (2014). China to further reform healthcare system after 3 trillion yuan investment, gbtimes. Available from: http://gbtimes.com/china/china-further-reform-healthcare-system-after-3-trillion-yuan-investment [Accessed July 15, 2014]

GE Healthcare (2014). Centricity PACS. GE Healthcare. Available from: http://www3.gehealthcare.in/en/products/categories/healthcare_it/medical_imaging_informatics_-_ris-pacs-cvis/centricity_pacs [Accessed July 15, 2014]

ITN Online (2014). Comparison Charts, ITN Online. Available from: http://www.itnonline.com/comparison-charts?t=PACS [Accessed July 15, 2014]


Page 66

Appendix

McKesson Corporation (2014). McKesson Radiology, McKesson Corporation. Available from: http://www.mckesson.com/providers/health-systems/department-solutions/radiology/mckesson-radiology/ [Accessed July 15, 2014]

Merge Healthcare (2014). Merge PACS. Merge Healthcare. Available from: http://www.merge.com/Solutions/Radiology/Merge-PACS.aspx [Accessed July 15, 2014]

Philips Healthcare (2014). IntelliSpace PACS. Philips Healthcare. Available from: http://www.healthcare.philips.com/main/products/healthcare_informatics/products/enterprise_imaging_informatics/isite_pacs/ [Accessed July 15, 2014]

Sectra (2014). Sectra PACS. Sectra. Available from: https://www.sectra.com/medical/diagnostic_imaging/solutions/ris-pacs/ [Accessed July 15, 2014].

Siemens Healthcare (2014). syngo.plaza - the agile PACS and reading software. Siemens Healthcare. Available from: http://www.healthcare.siemens.com/medical-imaging-it/imaging-it-radiology-image-management-pacs [Accessed July 15, 2014]

United Nations News Centre (2013). World population projected to reach 9.6 billion by 2050 – UN report. United Nations News Centre. Available from: http://www.un.org/apps/news/story.asp?NewsID=45165#.Up3cLeLcGRR . [Accessed July 15, 2014]

9.3 Research Methodology

GBI Research’s dedicated research and analysis teams consist of experienced professionals with advanced statistical expertise and marketing, market research and consulting backgrounds in the medical devices industry.

GBI Research adheres to the codes of practice of the Market Research Society (www.mrs.org.uk) and Strategic and Competitive Intelligence Professionals (www.scip.org).

All GBI Research databases are continuously updated and revised. The following research methodology is followed for all databases and reports.

9.3.1 Secondary Research

The research process begins with extensive secondary research using internal and external sources to gather qualitative and quantitative information relating to each market.

The secondary research sources that are typically referred to include, but are not limited to:

Company websites, annual reports, financial reports, broker reports, investor presentations and US Securities and Exchanges Commission (SEC) filings

Industry trade journals, scientific journals and other technical literature

Internal and external proprietary databases

Relevant patent and regulatory databases

National government documents, statistical databases and market reports

Procedure registries

News articles, press releases and web-casts specific to the companies operating in the market

9.3.2 Primary Research

GBI Research conducts hundreds of primary interviews a year with industry participants and commentators in order to validate its data and analysis. A typical research interview fulfills the following functions:

Provides first-hand information on market size, market trends, growth trends, competitive landscape and future outlook

Helps to validate and strengthen secondary research findings

Further develops the analysis team’s expertise and market understanding


Page 67

Appendix

Primary research involves email correspondence, telephone interviews and face-to-face interviews for each market, category, segment and sub-segment across a range of geographies.

The participants who typically take part in the process include, but are not limited to:

Industry participants: CEOs, VPs, marketing/product managers, market intelligence managers and national sales managers

Distributors, paramedics and representatives from hospital stores, laboratories and pharmacies

Outside experts: investment bankers, valuation experts, research analysts specializing in specific medical equipment markets

Key opinion leaders: physicians and surgeons that specialize in the therapeutic areas in which specific medical equipment is used

9.3.3 Models

Where no hard data are available, GBI Research uses modeling and estimates in order to produce comprehensive data sets, for which the following rigorous methodology is adopted:

Available hard data is cross-referenced with the following data types to produce estimates:

Demographic data: population, split by segment

Macroeconomic indicators: Gross Domestic Product (GDP) and inflation rate

Healthcare indicators: health expenditure, physician base, healthcare infrastructure and facilities

Selected epidemiological and procedure statistics

Data is then cross-checked by the expert panel. All data and assumptions relating to modeling are stored and are available to clients on request.

9.3.4 Forecasts

GBI Research uses proprietary forecast models, which utilize the following factors:

Historic growth rates

Macro indicators such as population trends and healthcare spending

Forecast epidemiological data

Qualitative trend information and assumptions

Data is then cross-checked by the expert panel.

9.3.5 Expert Panel

GBI Research uses a panel of experts to cross-verify its databases and forecasts.

GBI Research’s expert panel includes marketing managers, product specialists, international sales managers from medical device companies, academics from research universities, key opinion leaders from hospitals, consultants from venture capital funds and distributors/suppliers of medical equipment and supplies.

Historic data and forecasts are relayed to GBI Research’s expert panel for feedback and adjusted accordingly.


Page 68

Appendix

9.5 Disclaimer

All Rights Reserved.

No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior permission of the publisher, GBI Research.

Picture Archiving and Communication Systems Market to 2020 · Picture Archiving and Communication...

Documents

Transcript of Picture Archiving and Communication Systems Market to 2020 · Picture Archiving and Communication...