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Analysis of the Western and Eastern European Image and Information Management Systems Market

  • September 2013
  • 146 pages
  • Frost & Sullivan
Report ID: 1889367

Summary

Table of Contents

Assessing the Trends and Dynamics of the RIS/PACS Market

The research service is to provide an in-depth analysis of the European Image and Information Management Systems markets. It analyses the revenue potential, market dynamics and trends across Eastern Europe and Western Europe. The European Image and Information Management Systems.

Key Findings

• When analogue systems were replaced by digital systems, the need to store patient information encouraged the use of IT solutions in the form of radiology information systems (RIS).
• Radiology images needed to be archived, and with the emergence of picture archiving and communication systems (PACS), healthcare providers saw it as a move towards less-expensive health services as it reduced the cost of analogue film printing.
• Western Europe began adopting PACS in the last decade, and the technology has penetrated the region considerably. Most countries of this region are soon approaching saturation.
• Although the Western European market is mature, many hospitals are yet to own their first PACS solution. Other hospitals are gradually adopting the latest models that promise high return on their investment.
• In contrast, the Eastern European market is still nascent, and the demand for advanced technology will create a plethora of opportunities for PACS vendors.
• The adverse financial and political scenario had hindered PACS adoption in Eastern Europe. However, the situation has been improving gradually.
• Eastern Europe is following the Western European model in terms of PACS adoption, since the market dynamics of the former now resembles what the Western Europe had a decade earlier.
• The PACS providers are utilising their experience in Western Europe, to deliver more efficient services in the Eastern Europe. Healthcare units are installing the latest versions instead of opting for step-by-step upgrade.
• In the mature Western European market, the major revenue of PACS is contributed by after-sales services and value-added upgrades. Vendors are introducing innovative packages and service deals that promise a win-win situation.
• Enterprise-wide solutions is an evolving trend that allows multidisciplinary image archiving and sharing. Neutral delivery models based on Web and cloud are entering the market to facilitate enterprise-wide sharing.
• Eastern Europe has been slow in adopting the PACS technology. However, governmental initiatives, entry of private sector and the development of medical tourism have improved financial accessibility, thereby increasing the demand for IT solutions.
• As purchasing PACS is an expensive proposition, hospitals in cost-sensitive Eastern European market use service models, such as pay-per-use, licensed models and on-lease models, to benefit from PACS services.
• Eastern Europe is a nascent market. However, with greater awareness, improving financial conditions and the urge to meet Eurozone standards at the earliest, the market is expected to witness considerable growth.
• Despite the slow growth due to the Euro zone crisis, the PACS market is expected to recover and growth steadily over the forecast period (2012–2019), at a CAGR of X% in Western Europe.
• Debt crisis coupled with weak finances and budgetary restrictions in Eastern Europe resulted in low growth rate in the base year. However, the market is expected to recuperate and grow steadily over the forecast period, at a CAGR of X%.

CEO’s Perspective

1. The saturation of the Western European PACS market has shifted revenue downstream. After-sales services would be the major revenue contributor.
2. Western European market is mature. However, many customers are getting their second installations, and a few small establishments are implementing their first.
3. With the evolution of the enterprise-wide trend, service models based on cloud can help leverage existing systems for enterprise-wide purpose.
4. High price sensitivity in Eastern Europe is placing local participants on the same competitive scale as the major ones.
5. Financial constraints in Eastern Europe have created a demand for licensed solutions that cost lesser and yet serve the same purpose.

Executive Summary—3 Big Predictions

1. Downstream revenue generation and enterprise-wide data sharing will enable IT giants to compete on the same scale with healthcare companies.
2. The emergence of local vendors offering low-priced solutions will put pressure on major vendors of Eastern Europe to reduce PACS prices.
3. The falling pricing trend of PACS solutions will compel vendors to provide value-added packages in order to maintain their contract.

Market Overview—Scope

Scope of the Study–Western Europe
Countries included:
• The United Kingdom
• Germany
• France
• Italy
• Spain
• Benelux
• Scandinavia

Scope of the Study–Eastern Europe
Countries included:
• Bulgaria
• The Czech Republic
• Hungary
• Poland
• Romania

Market Overview—Definitions

PACS: Refers to a combination of software, hardware and services used to manage digital radiology images, related information, and workflow processes throughout the image lifecycle, including image acquisition, analysis, interpretation, distribution, archiving and retrieval.
RIS: Refers to an information system consisting of several modules used to manage data related to patients and radiology operations, such as scheduling and clinical and financial reporting.
Integrated RIS-PACS System: Refers to a single vendor solution combining the management of radiology image data and the related information.
Enterprise PACS can refer to one of two concepts depending on context:
oA common multi-departmental IT platform integrating radiology PACS with other departmental PACS, such as cardiology.
oA common IT platform spanning multiple affiliated and geographically distributed radiology imaging facilities.
• A radiology PACS unit contract is defined as an annual software license for a vendor’s system—possibly combined with the required hardware—with related professional services and with an associated maintenance and support (M&S) contract.
• The pricing of a radiology PACS unit contract is defined as the first year’s expenditure for a new system, which may or may not include a one-year maintenance and support contract.
• In the case of a pay-per-procedure payment model, the unit contract pricing used in this study is the one-year equivalent pricing under a capital model, calculated over five years.
• Radiology PACS revenue is defined as revenue captured directly by PACS vendors; however, this excludes revenue from imaging modality purchases.
• Generally, hardware is part of the contract; however, some customers may opt for a third-party contract for some hardware, such as medical displays.
• The study forecasts all the revenue in U.S. dollars ($), although many companies in Europe sell in euros. The study considers the conversion rate from March 2013, which places the euro rate as an equivalent of $Xfunny(across the forecast period).

Key Questions This Study Will Answer

Is the mature Western European market expected to grow? How long will it continue to grow and at what rate?
What is the scope for growth in the imaging informatics market, and what are the future opportunities that could be capitalised on?
How is the PACS business changing in Western Europe? While the market is proceeding towards saturation, will the service component increase in future? How is the PACS business developing in the Eastern European market?
How has the recent Eurozone debt crisis affected the PACS market? When will the impact of the slowdown cease to affect the market? How will the market grow post the recovery?
How does the political and financial scenario in Eastern Europe affect the competition among market participants? To what extent will this impact market growth?

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