Transparency Market Research (TMR) has published a new report
titled, PACS and RIS Market -
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast,
2019–2027’. According to the report, the global PACS and RIS market was valued
at US$ 2,633.4 Mn
in 2018 and is projected to expand at a CAGR of above 5.3%
from 2019 to 2027.
Overview
·
A picture archiving and communication
system (PACS) is a medical imaging technology which provides economical storage
of, and convenient access to, images from multiple modalities.
·
RIS (radiology information system) is
a computerized database used by radiology departments to store, manipulate, and
distribute patient radiological data and imagery.
·
PACS and RIS are being utilized more
than conventional systems for medical imaging. PACS and RIS are the right
choices for a sustainable future. Adoption of PACS and RIS is increasing in a
number of health care facilities and high-value products, such as cardiology
PACS, orthopedic PACS, and oncology PACS.
·
North America dominated the global
PACS and RIS market in 2018 and the trend is anticipated to continue during the
forecast period. Rising health care demand and substantial government
interventions for research and development are the major factors supporting
market growth of the market.
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Increase in number of cardiology
procedures Globally To Drive PACS and RIS Market
·
Cardiology imaging vendors have
adopted digital imaging and communications in medicine (DICOM) standard to
develop commercial PACS specifically designed for cardiology. Since cardiology
studies are dynamic, large number of images and a vast amount of data are
generated per study. Also, the number of cardiology studies performed is
increasing by 20% per year. Considering the large records,
cardiology can expect to benefit substantially from the electronic management
of images. This drive the demand for the PACS and RIS
PACS Segment to Capture Largest
Market Share
·
Based on product type, the market has
been segmented into PACS and RIS. PACS emerged as the leading segment in terms
of revenue in 2018, attributed to high demand and widespread use of PACS such
as cardiology PACS and orthopedic PACS. Among various types of PACS products,
the oncology PACS segment is likely to record the highest growth rate from 2019
to 2027. This is attributed to increase in prevalence of cancer. In addition,
increase in demand for complete diagnosis is likely to fuel the growth of this
segment.
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Web-based Deployment to Dominate
Market in Term of Method of Deployment
·
In terms of deployment, the market
segmented as web-based, cloud-based, and on-premise. Web-based dominates the
global PACS AND RIS market and this is attributed to high demand for
multi-modality support for efficient workflow management of medical imaging
practices at number of locations. The cloud-based segment is likely to record
the highest growth rate from 2019 to 2027. This is because cloud-based systems
provide increased cyber security and additional storage, which is essential due
to increased number of health care procedures etc.
Hospital to be Highly Lucrative
Segment
·
Based on end-user, the PACS and RIS
market has been segmented into hospitals, diagnostic centers, research &
academic institutes, and ambulatory diagnostic centers. Hospitals is the major
end-user of PACS and RIS due to high number of medical examinations in terms of
medical images, which require large storage and accessibility to physicians.
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North America to Dominate Global
Market
·
In terms of region, the global PACS
and RIS market has been segmented into North America, Europe, Asia Pacific,
Latin America, and Middle East & Africa. North America dominated the global
PACS and RIS market in 2019, followed by Europe.
·
The growth of the PACS and RIS market
in North America is drive owing to its increasing technological advancements
Demand for PACS in North America is high due to increasing prevalence of
diseases and the need for data management.
Competitive Landscape
·
Key players in
the global market include GE Healthcare, Philips Healthcare, Fujifilm Holdings Corporation,
McKesson Corporation, Siemens Healthineers, Agfa Healthcare, and Allscripts
Healthcare Solutions, Inc. GE Healthcare, Philips Healthcare, and Fujifilm
Holdings Corporation exhibit the largest geographical outreach, with presence
in multiple PACS and RIS product categories others among others.
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