The market for picture archiving and
communications systems (PACS) has been growing pervasively, garnering colossal
prominence. The rapidly increasing prevalence of many chronic diseases such as
cardiovascular and neurological diseases that are augmenting the demand for
diagnostic and imaging services are contributing to the growth of the market.
Moreover, increasing investments from public-private organizations and the
rising number of diagnostic imaging centers are escalating the market on the
global platform.
Acknowledging the exponential traction that the
market is witnessing currently, Market Research Future (MRFR) in its recently
published study report asserts that the global picture archiving and
communications systems market would create a substantial revenue pocket by
2023, registering approximately 5.80% CAGR throughout the forecast period.
The rising demand for the diagnostic process
along with the increasing R&D activities in life sciences are boosting the
growth of the market. Additional factors such as the spreading awareness
towards picture archiving and communications systems and the vast uptake of
PACS in the academic medical centers, by the surgeons and biomedical
researchers, propel the market growth.
Conversely, factors such as the high investment
required for the initial set up of these systems alongside the lack of
healthcare insurance and awareness in poor healthcare system are impeding the
growth of the Picture Archiving and Communication Systems market, especially in
underdeveloped and developing regions. On the other hand, the stringent
regulatory approval procedures are obstructing the growth of the PACS market
majorly in the developed regions.
Nevertheless, technological advancements in the
medical imaging devices, improving regulatory framework, and unmet medical
needs would support the global PACS market, creating significant growth
opportunities for the players operating in the market.
Global Picture Archiving and Communications
Systems Market – Segmentation
For ease of understanding, the analysis has been
segmented into six key dynamics:
By Type
: Oncology
PACS, Cardiology PACS, Dental PACS, and Orthopedics PACS among
others.
By Component
: Hardware,
Software, and Services.
By Imaging Type
: Magnetic
Resonance Imaging (MRI), Computed Tomography (CT), Nuclear Imaging, X-ray, and
Ultrasound among others.
By Delivery Mode : On-cloud, On-web, and premise
Mode.
By End-user
: Hospitals
& Clinics, Healthcare Centers, Imaging Centers, Diagnostic Centers, and
Clinical Research Institutions among others.
By Region
: North America, Asia Pacific, Europe, and the Rest-of-the-World.
Global Picture Archiving and
Communications Systems Market – Geographical Analysis
The North American region, heading with the
increasing prevalence of cardiovascular, neurological, and ophthalmic
disorders, accounts for the dominating market for picture archiving and
communications systems market, globally. Factors like the rising demand for
early diagnosis and high healthcare expenditure substantiate the growth of the
market. Additionally, the presence of a number of key players and
well-developed technology, and rising demand for imaging devices foster the
growth of the regional market.
Furthermore, increasing government initiatives
and funding programs for research in the diagnosis devices along with the
rising demand for accurate diagnosis, and the well-spread awareness about the
benefits of PAC systems are some of the significant driving forces behind the
growth of the regional market.
The European picture archiving and
communications systems market stands at the second position, globally. Factors
such as the well-spread awareness about the benefits of PAC systems,
availability of advanced treatment facilities alongside the increasing
healthcare expenditure, are impacting the growth of the market, positively.
Furthermore, considerable technological
advancements, increasing biomedical research initiatives, and the adoption of
picture archiving and communications systems by imaging centers, diagnostic
centers, and clinical research institutions fostering the growth of the market
in the region.
The Asia Pacific picture archiving and
communications systems market is rapidly emerging as a profitable market,
globally. Factors such as the increasing uptake of this imaging technology for
medical training and surgeries, increase in R&D activities, and new
products launches are attributing to the market growth in the region.
Furthermore, ever-increasing population, rapidly emerging countries such as
Japan, China, and India, alongside the large manufacturing base and increase in
demand for advanced diagnostic systems are propelling the growth of the market.
Picture Archiving and Communications Systems Market
– Competitive Analysis
Highly competitive, the picture archiving and
communications systems market appears to be fragmented with the presence of
several matured & small key players. These players form a competitive
landscape incorporating strategic initiatives such as partnership, acquisition,
expansion, product & technology launch, and collaboration.
Major Players:
The Picture Archiving and Communications
Systems Market players leading the global PACS
market include Agfa-Gevaert N.V., Advanced Data Systems, Allscripts Healthcare
Solutions, Inc., Argus Radiology, Alta Vista Teleradiology, Avreo, Inc.,
Comarch SA, Brit Systems, Cybernet Medical Corporation, GE Healthcare, FujiFilm
Medical Systems, Global Diagnostics, Konica Minolta Healthcare Americas Inc.,
INFINITT Healthcare, McKesson Corporation, Inc., Pacshealth, LLC, ONRAD, Inc.,
Perfect Imaging, LLC, Radiology Imaging Solutions, RamSoft, Inc., Scimage,
Inc., Sectra Imtec AB, Sectra Imtec AB, Siemens Healthineers, StatRad, LLC,
Singular Medical Technologies, Telediagnostics Services Pvt. Ltd., Virtual
Radiology (vRAD), and Telerad Tech Private Limited among others.
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