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A picture archiving and communication system (PACS) is an imaging technology providing economical and convenient storage as well as access to images. The global picture archiving and communications systems market is expected to gain an upward trajectory owing to explosive adoption of information technology in the healthcare sector.
According to Market Research Future (MRFR), the global picture archiving and communications systems market is expected to register a CAGR of over 4.43% over the assessment period (2016-2023). The attractive advantages of the picture archiving and communications systems such as elimination of manual documentation, error free archiving, digital transmission of data and the greater efficiency and ease associated with the process is driving a large demand.
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The influx of information technology and the ubiquitous availability and adoption of smart devices, emerging web technology, and others is resulting in timely and efficient access to data. Elimination of physical barriers owing to centralization of data is also contributing towards the market growth.
The development of universal image storage and transfer standard for PACS coupled with flexibility to incorporate other standard formats such as PDF is resulting in faster adoption of PACS. The expanding adoption of imaging technologies such as computed tomography (CT) and magnetic resonance imaging (MRI) in the hospitals are other drivers of the market.
Additional factors that are fostering the market demand include the dramatically rising end-users such as hospitals and the increasing incidence of diseases.
Picture Archiving and Communications Systems Market – Segments
The report is segmented into six dynamics to widen the scope of understanding,
By Type: Oncology PACS, Cardiology PACS, Dental PACS, Orthopaedics PACS, among others.
By Components: Hardware (Access Devices, Peripherals, Servers, Storage Devices, and Networking Devices), Software, Services (Consulting, Implementation Services, Post-Sales and Maintenance Services, and Training Services), among others.
By Imaging Type: Magnetic Resonance Imaging (MRI), Computed Tomography (CT), Nuclear Imaging, X-Ray, Ultrasound, among others.
By Delivery Mode: Cloud-Based (Saas) Delivery Mode, Web-Hosted (On-Demand) Delivery Mode, And On-Premise Mode, among others.
By End-use: Hospitals And Clinics, Healthcare Centers, Imaging Centers, Diagnostic Centers, Clinical Research Institutions, among others.
By Regions: North America, Europe, Asia Pacific, and the Rest-of-the-World.
Global Picture Archiving and Communications Systems Market – Regional Analysis
North America dominates the global picture archiving and communications systems market owing to rapid adoption of technology, presence of large hospitals and the consolidation of healthcare sectors resulting in increase in purchasing power.
The entry of technology companies in the medical devices sector is also boosting the market growth. Moreover, the established healthcare sectors and high healthcare expenditures is driving a substantial demand for the growth of the market.
Europe accounts for another large share of the picture archiving and communications systems market owing to large healthcare expenditure and the proliferating information technology and pharmaceutical industry in the region. The presence of large players in the region is providing a boost to the market growth.
The Asia Pacific picture archiving and communications systems market is expected to be in a flux and represents a bimodal nature. Japan, Australia and South Korea are leading the Asia Pacific market. However, China and India are expected to drive a momentous growth owing to their economic development.
Picture Archiving and Communications Systems Market – Competitive Landscape
The picture archiving and communications systems market is dominated by handful of large firms resulting in a pricing premium on the products. The industry is intensive in terms of intellectual property and technology which makes market entry a challenge for small players.
Manufacturers rely on collaboration and partnerships with other players to innovate new products and to cut down the development costs and time.Manufacturers of picture archiving and communications systems use a variety of distributions channels and are increasingly engaging the social media to generate inbound leads.
Major Players:
Players leading the global picture archiving and communications systemsmarket include Siemens Healthineers, Advanced Data Systems, Allscripts Healthcare Solutions, Inc., Telediagnostics Services Pvt. Ltd.,Konica Minolta Healthcare Americas Inc., Alta Vista Teleradiology, Avreo, Inc., Radiology Imaging Solutions, Scimage, Inc., Brit Systems, Comarch SA, Cybernet Medical Corporation, Virtual Radiology (vRAD),GE Healthcare, INFINITT Healthcare, McKesson Corporation,Inc., ONRAD, Inc., Pacshealth, LLC, FujiFilm Medical Systems, Perfect Imaging, LLC, RamSoft, Inc., Global Diagnostics, Sectra Imtec AB, Sectra Imtec AB, Singular Medical Technologies, StatRad, LLC, Agfa-Gevaert N.V., Argus Radiology, Telerad Tech Private Limited, among others.
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Industry/ Innovation/ Related News:
Sep 11 2018 —-Mercy Technology Services, launched its latest picture archiving communication system (PACS) imaging solution, as a Software as a Service system. The system has an automated workflow orchestrator which auto-coordinates the physicians worklist through speech recognition and reporting technology adopted from Nuance. Mercy has already adopted the system in its care facilities. The system claims to increase report turnaround time by up to 50 percent. The PACS system is an addition to Mercy Technology Servicescloud solution, launched earlier in partnership with VMware.