(MENAFN- Ameliorate Digital Consultancy)
The global picture archiving and communication system market is anticipated to grow at a robust CAGR of 6.5% over the forecast period of 2021 to 2031 and reach a total market value of US$ 4.5 Bn, according to an updated study by Persistence Market Research.
PACS is a completely integrated system used by doctors and other medical professionals for the data storage, distribution, and analysis of medical pictures. The name“PACS” stands for“picture archiving and communication system,” and it refers to a system that combines hardware, software, image modalities, and archiving to collect, store, distribute, and finally display medical images.
Four essential parts make up a picture archiving and communication system: imaging modalities like MRI and CT, a secure network for transferring patient data, PACSs for analysing and reviewing images, and long- and short-term archives for retrieving and storing reports and images.
Picture Archiving and Communication System Market
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There is a considerable increase in demand for cloud-based PACS, which are utilised by a variety of healthcare end-users, including hospitals, diagnostic centres, imaging centres, clinics, and many more. Due to an instant decrease in the cost of archiving and storage for clinics, hospitals, or imaging centres, PACS systems are gaining popularity.
This is expected to bolster the global picture archiving and communication system market. Recently, healthcare and hospitals providers are moving towards an e cloud-based system due to low cost and flexibility in technology adoption as compared to traditional PACS. Thus, increasing uses and applications of PACS are anticipated to increase the revenue growth of the global PACS market during the forecast period.
However, declining penetration rate of PACS, its high installation and operating cost, complexity of PACS technology and a lack of harmonization are the restraints hampering the growth of the global picture archiving and communication system market.
The global picture archiving and communication system market is segmented on the basis of deployment, components, business mode, end-use, and region. By deployment, PACS market is segmented into web-based PACS, cloud-based PACS and on premise. Moreover, by components market is categorized into imaging modalities, secured network, and workstation and archives.
On the basis of business mode, picture archiving and communication system market is fragmented into enterprise and departmental. Further picture archiving and communication system market end-users are hospitals, clinic imaging, dental practices, imaging centers, diagnostic centers, research & academic institutes, ambulatory surgical centers, and others.
Key regions covered in the report are North America, Western Europe, Asia-Pacific excluding Japan, Eastern Europe, Middle East & Africa, Latin America and Japan.
The report analyzes the global picture archiving and communication system market in terms of value (US$ Mn) by deployment, components, business mode, end-use, and region; and provides insightful information regarding the value chain, market trends, competitive landscape, market dynamics and market estimations and forecast.
On the basis of region, North America is estimated to be the largest market for picture archiving and communication systems, accounting for more than 31% share of the global market by 2031. The region continues to dominate the market presently and is expected to continue to do so throughout the forecast period.
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On the basis of deployment, cloud-based PACS segments are projected to exhibit a healthy CAGR, respectively, in terms of market value during the forecast period. This is attributed to increasing usage of PACS in wide range of end-user application.
The markets in APEJ, Western Europe, MEA and Latin America are anticipated to contribute majorly to the global PACS market.
Factors such as increasing demand for increasing use of diagnostic imaging, growing healthcare IT adoption, and increasing adoption of cloud-based PACS is set to drive revenue growth of the global picture archiving and communication system market.
Key market participants covered in this report include
GE Healthcare Siemens Healthineers Agfa-Gevaert Group Carestream Health Koninklijke Philips N.V.-(Philips Healthcare) FUJIFILM Medical Systems INFINITT Healthcare Co. Ltd. Merge Healthcare Solutions Inc. (an IBM company) Mckesson Corp Sectra AB Others
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Key Segments Picture Archiving and Communication System Research
Web-Based PACS Cloud-Based PACS On-premise
Imaging Modalities Secured Network Workstations and Archives
Hospitals Clinic Imaging Dental Practices Imaging Centers Diagnostic Centers Research & Academic Institutes Ambulatory Surgical Centers Others
North America Latin America Europe East Asia South Asia & Pacific Middle East and Africa (MEA)
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Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients' business needs.
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