ID: MRFR/HCIT/4377-HCR | 100 Pages | Author: Kinjoll Dey | June 2023
Picture Archiving and Communications Systems Market is expected to register a CAGR of 5.80% and was valued at USD 4,885 Million.
Picture Archiving and Communications Systems Market Segmentation
The global Picture Archiving and Communications Systems market is segmented on the basis of type, component, imaging type, delivery mode, and end-user.
On the basis of type, the market is classified as oncology PACS, cardiology PACS, dental PACS, orthopedics PACS, and others.
On the basis of components, the market is classified as hardware, software, and services. The hardware segment is further classified as access devices, peripherals, servers, storage devices, and networking devices. The services segment is further classified as consulting, implementation services, post-sales and maintenance services, and training services.
On the basis of the type of imaging type, the picture archiving and communications systems market is classified as Magnetic Resonance Imaging (MRI), Computed Tomography (CT), nuclear imaging, X-ray, and ultrasound.
On the basis of delivery mode, the picture archiving and communications systems market is classified as cloud-based (SAAS) delivery mode, web-hosted (On-Demand) delivery mode, and on-premise mode.
On the basis of end-user, the market is classified as hospitals and clinics, healthcare centers, imaging centers, diagnostic centers, clinical research institutions, and others.
Picture Archiving and Communications Systems Market Regional Analysis
The Americas dominates the Picture Archiving and Communications Systems market owing to the rising demand for early diagnosis, rising prevalence of chronic diseases, well-developed technology, high healthcare expenditure, and the presence of leading players. Owing to the rising demand for imaging devices, various market players are coming up with advanced technology. For instance, on March 26, 2018, Singular Medical Technologies (SMT), the U.S. based technology company announced two new additions to its PACStation suite of products. The PACStation-GO is a fully functional reading workstation, with two full-size diagnostic monitors and is completely portable.
Radiology imaging solutions have generated a significant return on its healthcare IT investment by implementing Exa’s Voice Recognition in place of traditional transcriptionists, and their productivity has increased by 400%.
Europe holds the second position in the picture archiving and communications systems market. It is expected that the funding towards research and development expenditure and increasing competition among marketers are likely to drive the European market.
Asia Pacific is the fastest growing Picture Archiving and Communications Systems market owing to a huge patient pool, increasing demand for diagnosis, and development in the healthcare IT sector. According to IBEF, the Healthcare Information Technology (IT) market was valued at USD 1 billion in 2016 which is estimated to grow 1.5 times by 2020.
The Middle East and Africa holds the lowest share of the global Picture Archiving and Communications Systems market due to low development, lack of technical knowledge, and poor medical facilities.
Some of the key players in the global Picture Archiving and Communications Systems market are
In 2017, over 92.1 million persons had at least one type of cardiovascular disease, according to the Centers for Disease Control and Prevention (CDC). According to a study published in the BMC Public Health journal in 2017, the prevalence of type 2 diabetes, obesity, and cardiovascular diseases has climbed quickly in recent years.
Singular Medical Technologies (SMT), a technology business based in the United States, announced two new additions to its PACStation suite of devices on March 26, 2018. The PACStation-GO is a portable reading workstation with two full-size diagnostic displays. Radiology imaging solutions have paid off handsomely for the company's healthcare IT investment.Intended Audience
Research Methodology Sources: Annual reports, Press release, White paper, and Company presentations
|Market Size||USD 4,885 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Component, Imaging Type, Delivery Mode And End-User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Advanced Data Systems, Agfa-Gevaert N.V., Allscripts Healthcare Solutions, Inc., ALTA VISTA TELERADIOLOGY, Argus Radiology, Avreo, Inc., Brit Systems, Comarch SA, Cybernet Medical Corporation, FujiFilm Medical Systems, GE Healthcare, Global Diagnostics, INFINITT Healthcare, Konica Minolta Healthcare Americas Inc., McKesson Corporation,Inc., ONRAD, Inc., Pacshealth, LLC, PERFECT IMAGING, LLC, RamSoft, Inc., Radiology Imaging Solutions, Scimage, Inc., Sectra Imtec AB, Sectra Imtec AB, Siemens Healthineers, Singular Medical Technologies, StatRad, LLC, Telediagnostics Services Pvt. Ltd., Telerad Tech Private Limited, Virtual Radiology (vRAD)|
|Key Market Opportunities||
|Key Market Drivers||Increasing incidence of cancer and unmet medical needs are adding to the market growth.|
Picture Archiving and Communication System (PACS) technology is used specifically for image transmission from the site of image acquisition to other locations. The technology is convenient to access multiple modalities such as radiographs, CT scan, MRI, ultrasound, and others.
The Americas is expected to lead the Picture Archiving and Communication System Market.
Increasing incidence of cancer and unmet medical needs are adding to the market growth.
High cost and poor healthcare system may limit market growth.
Different strategies used by market players to create a dominance in the Picture Archiving and Communication System Market include collaborations, mergers, partnerships, and product development.
Picture Archiving and Communication System Market is projected to grow at a 5.80% CAGR between 2022-2030.
Key Questions Answered
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