Picture Archiving And Communication System Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Germany, Japan, China, UK - Size and Forecast 2024-2028

Picture Archiving And Communication System Market Size 2024-2028 

The picture archiving and communication system market size is forecast to increase by USD 1.25 billion, at a CAGR of 5.5% between 2023 and 2028.

• The market has gained significant traction in the healthcare sector due to the digitalization of medical records and the need for secure, efficient communication between departments. The market is driven by various factors, including government initiatives encouraging IT adoption in healthcare and the emergence of cloud-based PACS. Medical staff can easily access patient diagnoses from physical film archives, enabling faster and more accurate diagnoses. The demand for integrated teleradiology networks is driving the market penetration of mid-end PACS. The transformation in healthcare IT is further fueling their adoption. Advanced imaging technologies, such as ultrasound and digital radiography, generate vast amounts of data, making PACS an essential tool for managing and sharing this information.

What will be the Size of the Market During the Forecast Period?

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• The market is witnessing significant growth due to the increasing adoption of digital images in medical technology. This shift from manual files and physical storage systems to electronic archives is revolutionizing the healthcare industry by enabling secure storage, digital transmission, and remote access to patient images. Digital images play a crucial role in optimum care delivery, allowing physicians to access and analyze ultrasound images, intervention reports, and other diagnostic data from various hardware imaging machines. These digital images are essential for monitoring disease progression and making informed decisions, ultimately improving patient outcomes.
• In addition, secure storage is a fundamental aspect of PACS, ensuring the confidentiality and integrity of patient images. Servers and workstations are used to store these images, often with off-site storage as a backup solution. A secure network is essential for transmitting these images between healthcare providers, ensuring HIPAA compliance and maintaining patient privacy. Physicians can access these images from various devices, including computers, workstations, and mobile devices, enabling them to make informed decisions anytime, anywhere. This remote access improves workflow efficiency and allows for timely interventions, ultimately leading to better patient care. Cloud-based PACS solutions have gained popularity due to their ability to provide on-demand access to patient images through an internet connection.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• Product
  • Mid-end PACS
  • Enterprise PACS
  • Mini PACS
• Application
  • Radiology PACS
  • Cardiology PACS
  • Pathology PACS
• Geography
  • North America
    • US
  • Europe
    • Germany
    • UK
  • Asia
    • China
    • Japan
  • Rest of World (ROW)

By Product Insights

• The mid-end PACS segment is estimated to witness significant growth during the forecast period.

The mid-level Picture Archiving and Communication System (PACS) segment is experiencing significant growth in the global market. Mid-end PACS cater to the needs of small hospitals and medical centers, enabling them to connect with multi-modality medical imaging systems. The affordability of mid-level PACS contributes to their increasing popularity. Cloud-based applications play a crucial role in collating medical imaging data, making them an attractive option for healthcare providers.

However, challenges remain, such as the integration of multi-modality imaging systems using cloud applications and the migration of data. The large amount of data migration poses risks to hardware and requires careful handling to prevent potential issues. Despite these challenges, the future of PACS remains promising as digital transmission and secure storage continue to revolutionize medical technology.

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The mid-end PACS segment was valued at USD 2.61 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

• North America is estimated to contribute 53% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market in the Americas is witnessing significant growth, with the US being the major contributor in 2023. The shift towards digitalization in healthcare infrastructure and regulatory compliance are the primary factors fueling the market expansion. Cloud-based PACS solutions are gaining popularity due to their numerous benefits, such as easy access to medical images through an internet connection, cost savings, and remote retrieval. Imaging modalities, like C-ARM and other diagnostic devices, are integrated with cloud applications, enabling seamless storage, management, and sharing of medical images. Furthermore, cloud-based PACS facilitates the use of mobile applications, allowing healthcare professionals to access images on-the-go, reducing the need for physical storage space and related costs. The affordability of these solutions is a significant factor driving the rapid adoption of PACS in the region.

Market Dynamics

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

What are the key market drivers leading to the rise in the adoption of the Picture Archiving And Communication System Market?

Government initiatives encouraging IT adoption in healthcare is the key driver of the market.

• The medical imaging landscape has experienced significant evolution, with film-based systems giving way to digital imaging technologies. Digital Radiography (DR) systems have emerged as a preferred choice due to their superior image quality and quicker diagnosis capabilities. The global healthcare sector's shift towards Electronic Health Records (EHR) systems has further boosted the demand for digital imaging solutions.
• Countries like Germany, France, and the US, with strong healthcare infrastructure and favorable reimbursement policies, are leading the adoption of these advanced medical imaging technologies. Moreover, the increasing penetration of smartphones and their widespread use for healthcare applications is positively influencing the healthcare IT sector. Approximately 70% of the global population utilizes iOS and Android applications for healthcare consultations.

What are the market trends shaping the Picture Archiving And Communication System Market?

The emergence of cloud-based PACS is the upcoming trend in the market.

• Cloud-based PACS systems are revolutionizing the healthcare industry by connecting various imaging modalities and patient databases under a unified network. These systems enable efficient image sharing and communication among healthcare professionals, thereby enhancing patient care. By utilizing cloud-based storage, the need for manual film storage and archival is eliminated, leading to cost savings.
• Furthermore, the integration of PACS with digital imaging devices, such as CT scanners and mammograms, has increased the usage of tablets among healthcare practitioners for image analysis. The global PACS market is poised to grow significantly due to the benefits offered by cloud-based PACS, including increased accessibility, cost savings, and improved collaboration among healthcare providers. Endoscopy images can also be seamlessly integrated into these systems, expanding their utility in various healthcare facilities.

What challenges does the Picture Archiving And Communication System Market face during its growth?

High equipment cost is a key challenge affecting the market growth.

• The transition of medical imaging modalities towards cloud-based application systems, such as Picture Archiving and Communication Systems (PACS), is gaining momentum. However, the high initial investment and renovation costs associated with PACS installation pose significant challenges for small medical facilities with limited budgets. In developing markets, the lack of adequate hospital infrastructure further escalates these costs. To cater to the needs of budget-conscious healthcare providers, companies are introducing cost-effective PACS solutions, such as mini-PACS, into the market. Despite the high upfront costs, PACS represents a long-term investment in the healthcare sector.
• In addition, regular servicing is essential for optimal performance, which incurs additional expenses. These factors contribute to the financial challenges faced by healthcare facilities in the adoption of PACS, particularly in developing markets. Medical staff in various departments rely on PACS for securely accessing, communicating, and managing patient diagnoses from different imaging modalities, such as ultrasound and digital radiography. The benefits of PACS, including improved efficiency and enhanced patient care, make it an indispensable tool in modern healthcare. Addressing the financial constraints through cost-effective solutions and long-term investment strategies will facilitate the wider adoption of PACS in the global healthcare sector.

Exclusive Customer Landscape

The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

 Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• 314e Corp.
• Agfa Gevaert NV
• Apollo Enterprise Imaging Corp.
• Ashva Technologies Pvt. Ltd.
• Carestream Health Inc.
• Oracle Corp.
• Dell Technologies Inc.
• Esaote Spa
• FUJIFILM Corp.
• General Electric Co.
• Intelerad Medical Systems Inc.
• International Business Machines Corp.
• Koninklijke Philips N.V.
• Laitek Inc.
• Lexmark International Inc.
• McKesson Corp.
• NovaRad Enterprise Healthcare Solutions
• PaxeraHealth
• Sectra AB
• Siemens AG

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Research Analyst Overview

The market in medical technology is witnessing significant growth due to the digital transformation in healthcare. With the increasing use of digital images in medical diagnosis and treatment, there is a growing demand for secure storage and transmission solutions. Traditional manual files and physical storage systems are being replaced by electronic archives, enabling optimum care and improved workflow. Digital transmission of patient images and associated data between departments and healthcare facilities is facilitated through secure networks. Hardware imaging machines such as ultrasound, digital radiography, computed tomography (CT), mammogram, and endoscopy generate vast amounts of data. Furthermore, securely storing and retrieving these images and reports from servers, computers, workstations, and mobile devices is essential for efficient patient care.

Moreover, cloud-based PACS and remote access solutions offer improved workflow, enabling physicians to access patient images and intervention reports from anywhere, at any time, via an internet connection. HIPAA compliance ensures secure communication and storage of sensitive patient data. Image processing and remote retrieval of various image types, including ultrasound, CT, mammogram, and MRI, are critical functions of PACS. Hybrid systems, combining the benefits of hardware and software, offer advanced features and flexibility. The integration of PACS with C-arm systems, imaging modalities, and other healthcare technologies enhances the overall efficiency of healthcare facilities. The removal of bottlenecks and delays in manual processes leads to better patient diagnoses and outcomes.

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What are the Key Data Covered in this Market Research and Growth Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market  and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming market growth and trends and changes in consumer behaviour
• Growth of the market across North America, Europe, Asia, and Rest of World (ROW)
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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