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Picture Archiving and Communications Systems Market Overview
The Picture Archiving and Communication System (PACS) Market is projected to reach USD 5.1 Billion by 2032 at 5.9% CAGR during the forecast period 2023-2032. The Picture Archiving and Communication System (PACS) is a type of medical imaging technology that is used to send images from the point of acquisition to other places. Multiple modalities, such as radiography, CT scans, MRIs, ultrasounds, and others, are easily accessible with the technology. The rising frequency of chronic diseases and the growing geriatric population are two important drivers driving the PACS industry, according to analysts. Different countries of the world have seen an increase in the burden of chronic diseases. Chronic diseases are most commonly found in people from low socioeconomic backgrounds. Other factors such as government and private sector investments and funds, rising demand for early diagnosis, technological advancements in medical imaging devices, rising cancer incidence, improving regulatory framework, growing research funding, unmet medical needs, rising competition among radiology PACS market size players, and increasing government assistance are all contributing to the global picture arch's growth. The physical and time obstacles associated with traditional film-based image retrieval, dissemination, and presentation have been reduced thanks to PACS. PACS is widely used in hospitals and clinics because it eliminates the requirement for hard copy image storage and substitutes it with digital storage.
Picture Archiving and Communications Systems Market Segmentation
The global Picture Archiving and Communications Systems market is segmented on the basis of type, component, imaging type, delivery mode, and end-user.
On the basis of type, the market is classified as oncology PACS, cardiology PACS, dental PACS, orthopedics PACS, and others.
On the basis of components, the market is classified as hardware, software, and services. The hardware segment is further classified as access devices, peripherals, servers, storage devices, and networking devices. The services segment is further classified as consulting, implementation services, post-sales and maintenance services, and training services.
On the basis of the type of imaging type, the picture archiving and communications systems market is classified as Magnetic Resonance Imaging (MRI), Computed Tomography (CT), nuclear imaging, X-ray, and ultrasound.
On the basis of delivery mode, the picture archiving and communications systems market is classified as cloud-based (SAAS) delivery mode, web-hosted (On-Demand) delivery mode, and on-premise mode.
On the basis of end-user, the market is classified as hospitals and clinics, healthcare centers, imaging centers, diagnostic centers, clinical research institutions, and others.
Picture Archiving and Communications Systems Market Regional Analysis
The Americas dominates the Picture Archiving and Communications Systems market owing to the rising demand for early diagnosis, rising prevalence of chronic diseases, well-developed technology, high healthcare expenditure, and the presence of leading players. Owing to the rising demand for imaging devices, various market players are coming up with advanced technology. For instance, on March 26, 2018, Singular Medical Technologies (SMT), the U.S. based technology company announced two new additions to its PACStation suite of products. The PACStation-GO is a fully functional reading workstation, with two full-size diagnostic monitors and is completely portable.
Radiology imaging solutions have generated a significant return on its healthcare IT investment by implementing Exa’s Voice Recognition in place of traditional transcriptionists, and their productivity has increased by 400%.
Europe holds the second position in the picture archiving and communications systems market. It is expected that the funding towards research and development expenditure and increasing competition among marketers are likely to drive the European market.
Asia Pacific is the fastest growing Picture Archiving and Communications Systems market owing to a huge patient pool, increasing demand for diagnosis, and development in the healthcare IT sector. According to IBEF, the Healthcare Information Technology (IT) market was valued at USD 1 billion in 2016 which is estimated to grow 1.5 times by 2020.
The Middle East and Africa holds the lowest share of the global Picture Archiving and Communications Systems market due to low development, lack of technical knowledge, and poor medical facilities.
Key Players
Some of the key players in the global Picture Archiving and Communications Systems market are
- Advanced Data Systems
- Agfa-Gevaert N.V.
- Allscripts Healthcare Solutions Inc.
- ALTA VISTA TELERADIOLOGY
- Argus Radiology
- Avreo Inc.
- Brit Systems
- Comarch SA
- Cybernet Medical Corporation
- FujiFilm Medical Systems
- GE Healthcare
- Global Diagnostics
- INFINITT Healthcare
- Konica Minolta Healthcare Americas Inc.
- McKesson Corporation,Inc.
- ONRAD Inc.
- Pacshealth LLC
- PERFECT IMAGING LLC
- RamSoft Inc.
- Radiology Imaging Solutions
- Scimage Inc.
- Sectra Imtec AB
- Siemens Healthineers
- Singular Medical Technologies
- StatRad LLC
- Telediagnostics Services Pvt. Ltd.
- Telerad Tech Private Limited
- Virtual Radiology (vRAD)
- and others
Recent Development
In 2017, over 92.1 million persons had at least one type of cardiovascular disease, according to the Centers for Disease Control and Prevention (CDC). According to a study published in the BMC Public Health journal in 2017, the prevalence of type 2 diabetes, obesity, and cardiovascular diseases has climbed quickly in recent years.
Singular Medical Technologies (SMT), a technology business based in the United States, announced two new additions to its PACStation suite of devices on March 26, 2018. The PACStation-GO is a portable reading workstation with two full-size diagnostic displays. Radiology imaging solutions have paid off handsomely for the company's healthcare IT investment.Intended Audience
- Pharmaceutical Companies
- Software Companies
- Research and Development (R&D) Companies
- Diagnostic Laboratories
- Government Research Institutes
- Academic Institutes and Universities
Research Methodology 
Sources: Annual reports, Press release, White paper, and Company presentations
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