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Frost & Sullivan: High Price Sensitivity in East Europe Necessitates Easier Financing Policies in the PACS Market

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Frost & Sullivan: High Price Sensitivity in East Europe Necessitates Easier Financing Policies in the PACS Market PR Newswire LONDON, June 4, 2012 - New Government Regulations Mandating the Maintenance of Archives Bodes Well for the PACS Market LONDON, June 4, 2012 /PRNewswire/ -- The East European picture archiving and communication system (PACS) market lags behind its western counterpart in size and pace. Although it is growing, most of the trends observed in the market are reminiscent of the trends in Western Europe 10 to 15 years ago. New analysis from Frost & Sullivan (http://www.medicalimaging.frost.com), East European PACS Market, finds that the market earned revenues of $18 million in 2010 and estimates this to reach $36.4 million in 2017. So far, governments have allotted only a small percentage of the gross domestic product (GDP) to healthcare. They still adopt the traditional approach, wherein a single modality fulfills the basic scope of imaging and reporting. "However, the market is likely to get a move on with most regional governments mandating healthcare service providers to maintain archives for at least 30 years," says Frost & Sullivan Research Analyst Rohan Panda. "This will give a much needed boost to the market - if not for the high-end segment, definitely for the low-end PACS segment.

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Frost & Sullivan: High Price Sensitivity in East
Europe Necessitates Easier Financing Policies
in the PACS Market
PR Newswire
LONDON, June 4, 2012
- New Government Regulations Mandating the Maintenance of
Archives Bodes Well for the PACS Market
LONDON
,
June 4, 2012
/PRNewswire/ -- The East European picture archiving
and communication system (PACS) market lags behind its western counterpart
in size and pace. Although it is growing, most of the trends observed in the
market are reminiscent of the trends in
Western Europe
10 to 15 years ago.
New analysis from Frost & Sullivan (http://www.medicalimaging.frost.com),
East European PACS Market
, finds that the market earned revenues of
$18
million
in 2010 and estimates this to reach
$36.4 million
in 2017.
So far, governments have allotted only a small percentage of the gross
domestic product (GDP) to healthcare. They still adopt the traditional approach,
wherein a single modality fulfills the basic scope of imaging and reporting.
"However, the market is likely to get a move on with most regional
governments mandating healthcare service providers to maintain archives for
at least 30 years," says Frost & Sullivan Research Analyst Rohan Panda. "This
will give a much needed boost to the market - if not for the high-end segment,
definitely for the low-end PACS segment."
End users are also waking up to the benefits of IT in healthcare and are
demanding more solutions, as the database of images can be used for referrals
across different hospitals and countries.
As
East Europe
is a highly price-sensitive market, the high costs of fully-
integrated PACS solutions are a major adoption barrier. Unfortunately, the
concept of leasing is still nascent in this market. Therefore, participants need to
develop simpler financing and payment policies. Financing services like easy
loan payments and funding by private sectors or major vendors are expected
to improve product uptake.
"Uncomplicated payback systems offer both the vendor and the client a chance
to maintain long-term relationships with each other," notes Panda. "Vendors
can further customise their offerings based on local demand and trends such
as incorporating the local dialect into the user interface and providing flexible
hardware or software options at the time of replacement or upgrade."
If you are interested in more information on this study, please send an e-mail
with your contact details to Janique Morvan, Corporate Communications, at
janique.morvan@frost.com.
East European PACS Market
is part of the
Medical Imaging
Growth
Partnership Services program, which also includes research in the following
markets: East European PACS Market, Medical Imaging Market Outlook for CEE
and
Russia
, European Computer aided detection (CAD) Markets and European
Market for Magnetic Resonance Imaging Modalities. All research services
included in subscriptions provide detailed market opportunities and industry