PACS & RIS Market Overview
The PACS & RIS Market size is forecast to reach $4.7 billion by 2026
growing at a CAGR of 6.4%
during the forecast period 2021-2026. Picture
Archiving and Communication System provides economical storage and convenient
access to images and aids in digitally transmitting electronic reports. It also
offers the electronic platform for radiology images interfacing with Radiology
. It provides cost-effective access to images from multiple
source modalities such as computed tomography, and magnetic resonance imaging
among others. Technological advancements and increasing developments in
diagnostic imaging modalities coupled with rising number of diagnostic tests
procedures are the major factors driving the growth of the market. Rapid
digitization in the healthcare sector globally and increasing adoption of
mobile applications in the healthcare sector is also set to further enhance the
overall market demand for the PACS & RIS Market for the period 2021-2026.
report: “PACS & RIS Market
Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the
following segments of the PACS & RIS Market.
By Product: Orthopedic PACS, Cardiology PACS, Oncology PACS, Dental PACS, and RIS.
By Component: Software, Hardware, and Services.
By Deployment: On-Premise, Web-Based and Cloud-Based.
By End User: Hospital, Diagnostic Centers, and Others.
Geography: North America (U.S., Canada, Mexico),
Europe (Germany, United Kingdom (U.K.), France, Italy, Spain, Russia, and Rest
of Europe), Asia Pacific (APAC) (China, Japan India, South Korea, Australia and
New Zealand, and Rest of APAC), South America (Brazil, Argentina, and Rest of
South America), and Rest of the World (RoW) (Middle East and Africa).
- North America dominated the
PACS & RIS Market in 2020 owing to the rising health care demand and substantial
government interventions for research and development. The PACS & RIS Market
scope for different regions will be provided in the final report.
- Increasing adoption of digital
pathology and affordable price of new generation PACS software are likely to aid
the market growth of the PACS & RIS Market.
analysis of the Strength, Weakness, and Opportunities of the prominent players
operating in the market will be provided in the PACS & RIS Market report.
cost of PACS & RIS along with the increasing concerns regarding data safety
in the healthcare sector owing to the cyber-attacks are poised to create
hurdles for the PACS & RIS Market.
PACS & RIS Market Segment Analysis - By Product
held the largest share in the PACS & RIS Market in 2020 and is estimated to
grow at a CAGR 7.2% during the forecast period 2021-2026. The largest share is
attributed to the advancements in imaging technology. PACS radiation therapy
for oncology offers a server class system that provides access from virtually
any location and it is flexible solution to keep increasing volumes of data and
images readily accessible while the patients are under treatment. It provides
deep archive to meet the data storage challenges in radiation in oncology and
it is also scalable so that it can grow with increasing needs and offers
centralized processing to provide all users the power of the professional
server. Oncologists can seamlessly move between image and case review using
both portal images and datasets. The clinical benefit of using web based
cardiology PACS is the ability for the cardiologists and supporting staffs to
conduct their daily duties from one system instead of several disparate system
requiring a separate workstation. Oncology PACS is set to be the highest
growing segment and is estimated to register the highest CAGR over the period
PACS & RIS Market Segment Analysis - By Deployment
PACS held the largest share in the PACS & RIS Market in 2020 and is estimated
to grow at a CAGR 5.8% during the forecast period 2021-2026. The largest share
is attributed to the fact that it represents a ground breaking development and
are hosted off site by the cloud PACS vendor. The storage and features of cloud
based PACS are provided by the cloud PACS servers. The computer network is
greatly broadened in cloud based PACS and so the scope of devices that can act
as display stations is much wider. Local PACS can be replaced with cloud based
PACS as it can cut costs significantly. Using cloud based PACS in radiology
departments prevents storage overload from happening. The unlimited
distribution of underlying application of web based PACS is its main advantage.
Web Based PACS is set to be the highest growing segment and is estimated to
register the highest CAGR over the period 2021-2026.
PACS & RIS Market Segment Analysis - By Geography
dominated the PACS & RIS Market with the major share of 38.6% in 2020. This
is owing to the technological advancements and rising healthcare demand. The
increasing prevalence of diseases and the need for data management along with
the substantial government intervention for research and development is also
increasing the growth of the market in this region. However, Europe
is estimated to grow at a higher CAGR during the forecast period 2021-2026
owing to the widespread application of PACS in hospitals and clinics as it
replaces the hard copies of images into digital storage.
PACS & RIS
Market Revenue Share, By Geography, 2020(%)
PACS & RIS
Increasing Number of Cardiology Procedures
An increasing number of cardiology procedures is increasing the growth
of the PACS & RIS Market. This is attributed to the fact that cardiology
imaging vendors are adopting digital imaging and communication in medicine to develop
commercial PACS designed for cardiology. Cardiology studies are dynamic in
which a large number of images and a vast amount of data are generated which
increases 20% per year. Cardiology is expected to benefit substantially from
the electronic management of images owing to the large records of data it
generates. Thus, increasing the growth of the PACS & RIS Market during the
forecast period 2021-2026.
Developments in Diagnostic Imaging Modalities
Developments in diagnostic imaging modalities coupled with the rising
number of diagnostic test procedures are increasing the growth of the PACS &
RIS Market. Radiology is emerged as a trend toward computerized management in the
health service owing to cost-efficient and rapid communication between radiology
departments and their users. Owing to the improved health care policy and the
guided protocol of medical imaging diagnosis, there has been a rise in the
number of global imaging-based procedures along with the increasing requirement
of consumables for tests. Thus, increasing the growth of the PACS & RIS
Market during the forecast period 2021-2026.
PACS & RIS
High Cost of PACS & RIS
Some of the factors that are set to impede the growth of the PACS & RIS
Market are the high cost of PACS & RIS along with the increasing concerns
regarding the safety in the healthcare sector owing to the cyber-attacks. The
problem in keeping the track of the legislative development along with the
clinical and technological advancements is also set to hinder the growth of the
PACS & RIS Market.
PACS & RIS Market Industry Outlook
Product launches, mergers and acquisitions, joint ventures, and R&D
activities are key strategies adopted by players in the PACS & RIS Market. In
2020, the PACS & RIS Market share is consolidated by the top ten players
present in the market. PACS & RIS Market, top 10 companies are GE Healthcare, Philips Healthcare, FujiFilm
Holdings Corporation, Mckesson Corporation, Siemens Healthineers, Agfa, Merge
Healthcare, and Cerner Corporation among others.
- In April 2020, MedInformatic launched Wait in Car, a mobile-friendly
application that allows patients to wait in the safety of their automobiles for
assigned medical application and it integrates with RIS and electronic health
record to provide the service.
Communication System (PACS) Market - Forecast (2021 - 2026)
Report Code: ITR 0158
PACS Market - Forecast 2019 – 2024
Report Code: HCR 73267
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