Global Departmental PACS Market By Application (Computed Tomography, Ultrasound, MRI, C-Arms, Digital Radiography, Nuclear Imaging, and Computed Radiography), Deployments (Web-Based, On-Premise, and Cloud Based), Components (Services, Software, and Hardware), End-User(Hospitals, Clinic Imaging, Dental Practices, Imaging Centers, Diagnostic Centers, Research & Academic Institutes, Ambulatory Surgical Centers, Others), Geography (North America, Europe, Asia-Pacific, Europe, South America and Middle East and Africa) – Industry Trends & Forecast to 2026
Market Analysis: Global Departmental PACS Market
Global Departmental PACS Market is expected to rise from its initial estimated value of USD 4.3billion in 2018 to an estimated value of USD 8.08 billion by 2026, registering a CAGR of 8.2% in the forecast period of 2019-2026. This rise in market value can be attributed to the Increasing government projects encouraging the use of higher data storage technology.
Market Definition: Global Departmental PACS Market
Picture Archiving and Communication System (PACS) helps in storing, presenting, retrieving, distributing and managing the medical images as well as in managing all the business functions of the department from patient analysis and management to inventory control.
According to the Cloud Infrastructure Group there are over 800 million medical imaging procedures performed worldwide every year. These include over 325 radiology procedures, 60 million CT scans and nearly 30 million MRI’s performed in the US alone. This significant number is expected to act as a driver to the market growth.
- The urgent requirement for efficient archival technology and data storage act as a drivers to growing PACS Market.
- Increasing demand for standard-based medical image archiving and non-dicom content management fuels VNA deployments
- Increase in data breach incidents and privacy of patient data is compromised.
- The longer product lifecycle of VNA hinder the growth of Vendor Neutral Archive (VNA) and Picture Archiving and Communication System (PACS) market.
Segmentation: Global Departmental PACS Market
- By Application
- Computed Tomography
- Digital Radiography
- Nuclear Imaging
- Computed Radiography Ultrasound Devices
- By Deployments
- Cloud Based Infant Warmers
- By Components
- By End-User
- Clinic Imaging
- Dental Practices
- Imaging Centers
- Diagnostic Centers
- Research & Academic Institutes
- Ambulatory Surgical CentersOthers
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
- North America
Key Developments in the Market:
- In November 2018, European Investment Bank (EIB) invested $33.8 million to support investment by Nuritas, a Dublin based biotech company, to further increase and speed up the development of artificial intelligence and DNA analysis to improve global healthcare.
- In August 2018, EnvoyAI, AI platform provider, has entered into a distribution deal with Mach7 Technologies, a leading enterprise imaging solution provider. The deal helps Mach7 customer access to various AI applications via the EnvoyAI platform.
Global departmental PACS market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of departmental PACS market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in the departmental PACS market are Acuo Technologies (U.S.), Agfa-Gevaert Group (Belgium), BridgeHead Software Ltd. (U.K.), Carestream Health (U.S.), Dell, Inc. (U.S.), GENERAL ELECTRIC COMPANY (U.K.), Fujifilm Corporation (Japan), Merge Health (U.S.), McKesson Corporation (U.S.), Philips Healthcare (Europe), Hyland Software, Inc. (us), Siemens Healthcare Private Limited (Germany), Mach7 Technologies Ltd. (USA), Novarad(UK), Sectra AB (Europe), INFINITT North America Inc. (South Korea), Koninklijke Philips N.V. (Europe), EnvoyAI (USA) are few among many others
Research Methodology: Global Departmental PACS Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
Reasons to Purchase this Report
- Current and future of global departmental PACS market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)