Specialty PACS Market Research Report

Specialty PACS Market:

Growth opportunities in the specialty PACS market look promising over the next six years. This is mainly due to the growing awareness regarding early diagnosis of disease, rising patient population, coupled with increasing awareness about the benefits of early disease diagnosis, and technological innovations in imaging modalities. Moreover, the growing digitization of patient data along with government initiatives are also fuelling the growth of specialty PACS market.

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Specialty PACS Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)

Key Drivers

The significant factors boosting the global specialty PACS market include the growing geriatric population and augmenting prevalence of several diseases. The rising patient population combined with increasing awareness of early disease diagnosis and technological improvements in imaging procedures are some other factors uplifting the specialty PACS market share. Also, expeditious growth in EMR adoption and growing digitalization of patient data will further expand the Specialty PACS market size. Increase in the acceptance of Medical Imaging IT solutions owing to the convenience to access and store them is also enhancing the market. The initiatives undertaken by the government to bolster the global specialty PACS market include an increase in the acquisition of healthcare IT solutions, promotion of imaging equipment, wide spreading adoption of medical imaging IT solutions, and a rise in investments in medical imaging.

The increasing investments in medical imaging is expected to boost the growth of the specialty PACS market. As per a survey conducted in the U.S., out of 50 radiologists, 90% reported their workload had increased over the last few years. The main reason for this rise was the increasing number of scans, cited by 78% of radiologists. This implies that radiologists need to read the scan quickly and accurately. Thus, the investments in Artificial Intelligence based medical imaging are growing exponentially. In 2018, the number of companies in the market reached to 113, which led the investments to reach around US$ 1.2 Bn. However, budgetary constraints will hamper the worldwide growth of the specialty PACS market.

Regional Drivers

Based on the Region, North America is augmented to grow at a faster CAGR over the forecast period owing to the rising incidence of chronic diseases in the market, increasing patient’s pool, growing geriatric population and the fast adoption of technologically advanced imaging systems. Moreover, increasing spread of chronic diseases in the region, early disease detection benefits, technological advancement in imaging modalities, and the domicile presence are the key players in this region to boost the market growth. On the other hand, the Asia-Pacific is augmented to expand due to increasing awareness concerning the benefits of early disease diagnosis.

Specialty PACS Market’s leading Manufacturers:

·         Canon USA Inc.

·         Intelerad Medical Systems

·         Siemens Healthineers

·         Carestream Health

·         McKesson Corporation

·         Sonomed Escalon

·         Novarad

·         Philips Healthcare

·         Agfa Healthcare

·         IBM Corporation

Speciality PACS Market Segmentation:

Segmentation by Product Type:

·         Radiology

·         Orthopedics

·         Oncology

·         Pathology

·         Endoscopy

·         Women’s Health

·         Others

Segmentation by Deployment Model:

·         On-Premise

·         Cloud

Segmentation by Component:

·         Software

·         Service

Segmentation by End User:

·         Hospital

·         Clinic

·         Diagnostic Centers

·         Research

Segmentation by Region:

·         North America

o   United States of America

o   Canada

·         Asia Pacific

o   China

o   Japan

o   India

o   Rest of APAC

·         Europe

o   United Kingdom

o   Germany

o   France

o   Spain

o   Rest of Europe

·         RoW

o   Brazil

o   South Africa

o   Saudi Arabia

o   UAE

o   Rest of the world (remaining countries of the LAMEA region)

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