Market Research Report
PACS and RIS Market to 2027 - Global Analysis and Forecasts By Product, Component, Deployment, End User, and Geography
|Published by||The Insight Partners||Product code||907452|
|Published||Content info||177 Pages
Delivery time: 1-2 business days
|PACS and RIS Market to 2027 - Global Analysis and Forecasts By Product, Component, Deployment, End User, and Geography|
|Published: July 12, 2019||Content info: 177 Pages||
The global PACS and RIS market is expected to reach US$ 5,008.93 Mn in 2027 from US$ 2,728.43 Mn in 2018. The PACS and RIS market is estimated to grow with a CAGR of 7.4% from 2019-2027.
The market is driven by factors such developments in diagnostic imaging modalities coupled with the rising number of diagnostic tests procedures, affordable price of new generation PACS software and new product launches & FDA approvals. However, availability of better substitutes and concerns regarding data privacy may limit the growth of the market to a certain extent.
Picture archiving and communication system (PACS) is used for management, retrieval, storage, and distribution of the medical images. In the field of radiology, it is used for sharing and viewing of diagnostic images. A radiology information system (RIS) is a network of the software system used for managing medical images and other related data. RIS keeps track of radiology imaging orders and data of bills. It is used along with PACS and vendor neutral archives (VNAs). RIS manages image archives, keeps record and billing.
Some of the difficulties of the PACS software include quality of images, a short span of backup storage as well as the threat from data privacy. To combat the shortcomings of the software, other alternatives with better features are available, for instance, the vendor neutral archive (VNA). A vendor neutral archive (VNA), stores medical images in a standard format, making these images accessible to healthcare professionals. In PACS software, there are significant issues concerned with vendor-specific software. However, in the case of VNA, the electronic files do not need to be converted into a different format, VNA converts a standard PACS more efficiently as well as cost-effectively. VNAs work through an open architecture, which has access across all domains within a hospital enabling efficient sharing of data with any healthcare facility across the country. Hence, the benefits offered by other systems over PACS is expected to hinder the growth of the PACS and RIS market.
Global PACS and RIS were segmented by product, component, deployment, and end user. The product segment was segmented as Picture archiving and communication system (PACS) and radiology information system (RIS). On the basis of the component, the market is categorized as hardware, software and services. The PACS and RIS market based on deployment is categorized as, web-based, on-premise and cloud-based. Based on the end user, the market was segmented as hospitals, diagnostic centers and others. During 2018, the hospitals segment led the PACS and RIS market by the end user.
Some of the major primary and secondary sources included in the report for, The Japan Radiological Society, The National Health Information Standard Committee, The Canadian Association of Radiologists, The Spanish Society of Medical Oncology, and The National Health Survey among others.