Global Specialty Picture Archiving and Communication System (PACS) Market – Industry Trends and Forecast to 2030

Global Specialty Picture Archiving and Communication System (PACS) Market, By Type (Radiology PACS, Cardiology PACS, Pathology PACS, Opthalmology PACS, Orthopedics PACS, Women’s Health PACS, Dermatology PACS, Neurology PACS, Endoscopy PACS, Oncology PACS, Other Specialty PACS), Component (Software, Services, Hardware), Deployment Model (On-Premise Specialty PACS, Web/Cloud-Based Specialty PACS), End User (Hospitals, Ambulatory Surgery Centers and Clinics, Diagnostic Imaging Centers, Other End Users) – Industry Trends and Forecast to 2030.  

Specialty Picture Archiving and Communication System (PACS) Market Analysis and Size

The growing acceptance of healthcare IT and the rising use of diagnostic imaging are the two main factors driving the global picture archiving and communication systems (PACS) market. In a sizable integrated health system, the usage of diagnostic medical imaging is growing more quickly. PACS demand has increased due to rising patient and physician demand, widespread technology availability and favorable reimbursement circumstances. Growing public knowledge of diagnostic imaging is causing a peer-driven increase in the amount of imaging data used for picture archiving, which is driving up demand for PACS.

Data Bridge Market Research analyses that the specialty picture archiving and communication system (PACS) (PACS) market which is USD 3177.26 million in 2022, is expected to reach USD 5418.44 million by 2030, at a CAGR of 6.9% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Specialty Picture Archiving and Communication System (PACS) Market Scope and Segmentation  

Market Definition

PACS (picture archiving and communication system) is a medical imaging technology largely utilized in healthcare organizations to safely store and digitally transfer electronic images and reports pertinent to clinical care. By using PACS, confidential documents, films and reports can be sent without manually filing, storing, retrieving or sending them. Additionally, using PACS software, workstations and mobile devices, medical records and images may be safely stored on remote servers and safely accessible practically from anywhere in the globe.

Specialty Picture Archiving and Communication System (PACS) Market Dynamics

Drivers

• Increasing geriatric population

The world's elderly population is constantly growing. The musculoskeletal system ages, changing the bones and soft tissues, which causes a number of complications. Age-related changes in the bone, such as osteoporosis and osteomalacia, increase the risk of fractures. One of the musculoskeletal conditions that commonly affect the elderly is osteoarthritis. As a result of the widespread prevalence of chronic diseases, surgeries among the elderly are also common.

• Rising partnerships between IT infrastructures

The increasing usage of visualization, the partnerships between IT infrastructures and imaging modalities and the adoption of PACS by a variety of medical specialties are key drivers of market expansion in the study. For instance, in December 2021, GenWorks Wellbeing, a provider of healthcare solutions sponsored by Wipro GE Healthcare, collaborated with AI radiology reporting company Synapsica to bring its PACS to cities all over India. For the majority of common modalities, its Radiolens radiology workflow resolution routinely recognises risky high-quality scans and generates early studies. These distribution partnerships are also accelerating the market's expansion.

Opportunities

• Growing clinical practices

According to a research paper published by NCBI in July 2021, enormous amounts of imaging data are continuously generated in routine clinical practise, leading to constantly growing archives. New proactive efforts are being made all over the world to create sizable medical imaging repositories. In addition, a different study published in JAMA in October 2021 said that the sharp decline in the price of data storage has been a significant catalyst for the development and advancement of PACS in medical imaging. It is projected that the market under study will increase faster because of this additional benefit.

Restraints/Challenges

• Inefficiency of PACS systems

PACS imaging systems have many advantages, but they can also be confusing for radiology professionals and outpatient imaging facilities to choose. Each centre handles a different set of circumstances, necessitating a different specialized approach. Since imaging centre directors don't have the same criteria as hospital administrators, the PACS system is occasionally ineffective for such imaging centres. PACS systems are primarily designed to meet the demands of radiology facilities at healthcare facilities.

This specialty picture archiving and communication system (PACS) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the specialty picture archiving and communication system (PACS) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on the Specialty Picture Archiving and Communication System (PACS) Market

The COVID-19 pandemic epidemic has had an effect on almost all global industries. The specialty picture archiving and communication system (PACS) market has been severely impacted by the pandemic, which has led to a drop in demand for PACS equipment. The supply chain was further disrupted by problems with the import and export of raw materials and finished goods, decreased output as a result of the total lockdown and other limitations put in place by the government. The pandemic's increased number of sick healthcare professionals has also resulted in lower production. The market's demand for specialty picture archiving and communication system (PACS) has decreased as a result of the fall in hospital visits brought on by the potential for coronavirus spread.

Recent Developments

• In 2022, The Emory Healthcare facilities installed Fujifilm's Synapse Cardiology PACS version 7 to store, process and analyze heart and vascular imaging. In Georgia, the academic health system with the largest depth is Emory Healthcare.
• In 2022, InteleradMedical Systems introduced its new Enterprise Imaging and Informatics Suite at the 2022 HIMSS Global Health Conference & Exhibition. A seamless, vendor-neutral information centre that integrates crucial patient data throughout the entire healthcare ecosystem is created by this suite, which is designed to enable hospitals and health systems to break down data silos.

Global Specialty Picture Archiving and Communication System (PACS) Market Scope

The specialty picture archiving and communication system (PACS) market is segmented on the basis of type, component, deployment model and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Radiology PACS
• Cardiology PACS
• Pathology PACS
• Opthalmology PACS
• Orthopedics PACS
• Women’s Health PACS
• Dermatology PACS
• Neurology PACS
• Endoscopy PACS
• Oncology PACS
• Other Specialty PACS

 Component

• Software
• Services
• Hardware

 Deployment Model

• On-Premise Specialty PACS
• Web/Cloud-Based Specialty PACS

 End User

• Hospitals
• Ambulatory Surgery Centers and Clinics
• Diagnostic Imaging Centers
• Other End Users

Specialty Picture Archiving and Communication System (PACS) Market Regional Analysis/Insights

The specialty picture archiving and communication system (PACS) market is analyzed and market size insights and trends are provided by country, type, component, deployment model and end user as referenced above.

The countries covered in the specialty picture archiving and communication system (PACS) market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the specialty picture archiving and communication system (PACS) market due to the rise in chronic diseases and the use of imaging modalities, as well as the rising geriatric population.

Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2023 to 2030 due to the adoption of improved technologies, and increasing quantities of medical imaging.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Healthcare Infrastructure Growth Installed base and New Technology Penetration

The specialty picture archiving and communication system (PACS) market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for specialty picture archiving and communication system (PACS) market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the specialty picture archiving and communication system (PACS) market. The data is available for historic period 2011-2021.

Competitive Landscape and Specialty Picture Archiving and Communication System (PACS) Market Share Analysis

The specialty picture archiving and communication system (PACS) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to specialty picture archiving and communication system (PACS) market.

Some of the major players operating in the specialty picture archiving and communication system (PACS) market are:

• IBM Corporation (U.S.)
• MCKESSON CORPORATION (U.S.)
• Agfa-Gevaert Group (Belgium)
• Carestream Health (Canada)
• Koninklijke Philips N.V. (Netherlands)
• Sectra AB (Sweden)
• Siemens Healthcare GmbH (Germany)
• Novarad (U.S.)
• INFINITT North America Inc. (U.S.)
• Topcon (Japan)
• Sonomed Escalon (U.S.)
• Canon USA Inc. (U.S.)
• Visbion (U.K.)
• EyePACS LLC (U.S.)