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Overview of the South Korean RIS-PACS Market
Frost & Sullivan, Dec 2010, Pages: 57
This market engineering research service has been developed to address the dynamics of South Korea radiology information systems, picture archiving and communications systems (RIS-PACS) market. This research service presents the key findings of South Korea RIS-PACS market. It provides insight and forecast for market size. Moreover, this research service also discusses market trends, market drivers, market restraints and competitive trends.
This research service titled Overview of the South Korean RIS-PACS Market examines the drivers and restraints for growth and technology, demand and geographical trends in the radiology information systems and picture archiving and communications systems (RIS-PACS). In addition, a market forecast and an analysis of the competitive situation is performed.
Market Overview
Active Digitisation Drives Help the RIS-PACS Market Grow at a Steady Compound Annual Growth Rate of 6.8 Per Cent from 2009 to 2016
The $22.4 million RIS-PACS market in South Korea has caught a tailwind with the rising demand for digital storage space in hospitals. The increasing sophistication of medical devices has resulted in an abundance of high-quality digital images, which, in turn, has necessitated advanced information systems to manage this data. To match strides with the competition, South Korean healthcare providers are keen to upgrade and implement the best products and services in the market, giving a boost to the adoption of technology. “RIS-PACS has emerged as hospital IT managers’ storage technology of choice, as it is user friendly and can be customized to the hospital’s niche needs,” says the analyst of this research. “Just like any other IT product, the customers’ important purchasing criterion is excellent after-sales service.”
The country’s move towards electronic health records (EHR) in the last decade has also bolstered the market. This has compelled most hospitals to adopt a full hospital information system (HIS). “It is crucial for the hospitals to have an RIS-PACS that is interoperable with the hospital HIS,” notes the analyst. “Several associations/regulatory bodies such as National Health Information Standard Committee (NHISC) exist to ensure uniformity in the systems.” In South Korea, hospitals prefer local vendors to foreign vendors due to their lower prices and ability to provide better customisation. Even though the foreign vendors have substantial service offerings and in-depth industry knowledge, they lag behind the local vendors. The domestic vendors aim to extend their market advantage and build on their strong reputation by offering a plethora of supplementary products and services.
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