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Kenneth Research has evaluated the current market opportunities in Vendor Neutral Archive & PACS Market in the healthcare industry for the forecast period 2022-2031, which also includes the ongoing industry trends and innovations that will help industry players to attain their business targets. Apart from that, the inclusive data on market size, market share and forecast, growth opportunities and challenges for the market players, along with the worldwide analysis on regions- North America, Latin America, Europe, Asia Pacific and Middle East & Africa, has also been provided in the report.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Vendor Neutral Archive & PACS Market Products.
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According to the statistics by the World Bank, current health expenditure around the world increased from 9.391 % of GDP in the year 2011 to 9.896 % of GDP in the year 2017. Moreover, the statistics also stated that Tuvalu, a nation in Oceania region, had the highest expenditure of 17.143 % of GDP in the year 2017, followed by the United States, with 17.061 % of GDP.
By 2022, the Global Vendor Neutral Archive & PACS Market is estimated to reach US$ XX Mn, up from US$ XX Mn in 2016, growing at a CAGR of XX% during the forecast period.Vendor Neutral Archive (VNA) and Picture Archiving and Communication System (PACS) are considered prominent markets in the medical image management industry.VNA is a medical imaging technology in which images are stored in a standard format with a standard interface, such that they can be accessed through various PACS. By bringing about the sought-after changes in the clinical workflow and by enhancing the availability and unification of data, VNAs have the ability to provide optimised patient care.Owing to the popularity of VNA solutions, the Vendor Neutral Archive and PACS market is currently in the growth phase of its product lifecycle.
The major driving forces for the vendor neutral archive market include the need for a centralized storage of standard-compliant imaging data coupled with government initiatives that favor the use of advanced cost-effective imaging information systems. The recovery cost of medical image and technological advancements are additional factors propelling the market growth considerably. Consolidation of patient data by incorporating VNAs with electronic health records is one of the prominent trends observed in this market.
Conversely, issues like the misinterpretation of the VNA concept, prolonged VNA lifecycles that sway the buying decisions of users and data breach incidencesare the potential obstacles to the expansion of the market on a global scale. Furthermore, factors such as complexity of technology and lack of harmonization in the industry may impede the growth of the market to some extent. However, these inhibiting factors are expected to be resolved in the forecast period, surging the global VNA market.
The VNA and PACS market is fragmented on the basis of its delivery mode, business mode, vendors, instrument type, and components.
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Magnetic Resonance Imaging
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North America leads the market with the largest consumer base in the world, followed closely by Europe. The Asia Pacific market, which consists of fast-developing economies such as India, China, and Japan, has remained largely untapped.However, this market is expanding steadily and is expected to witness rapid growth in the forecast period, owing to the increasing adoption of information technology.Developing countries with a large patient base have a higher requirement for the VNA and PACS technologies than the rest of the world.
Acuo Technologies (U.S.) is the market leader, followed by other prominent players of the VNA and PACS market such as Agfa HealthCare (Belgium), Carestream Health (U.S.), BridgeHead Software (U.K.), Dell, Inc. (U.S.), GE Healthcare (U.K.), Fujifilm Corporation (Japan), Merge Health (U.S.), Philips Healthcare (The Netherlands), Siemens Healthcare (Germany), McKesson Corporation (U.S.), and TeraMedica (U.S.).The recent market trends such as mergers and acquisitions show that smaller companies are working with bigger ones for advanced innovations by utilizing their core competencies.The future of this industry looks pretty optimistic, offering huge potential in the health care sector.
Report ContentsRegional AnalysisReport Highlights
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market – Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
US and Canada
Mexico, Brazil, Argentina and Rest of Latin America
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Rest of Eastern Europe
Australia and New Zealand
Rest of Asia Pacific
Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
Estimated Market Sizing in terms of volume and value
Recent trends in Market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage
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About Kenneth Research:
Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defense, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.
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