Global PACS and RIS Market, By Product (Picture Archiving and Communication System (PACS), Radiology Information System (RIS), Component (Hardware, Software, Services), Deployment (Web-Based, Cloud-based, On-premise), End Users (Hospitals, Diagnostic Centers, Research and Academic Institutes, Ambulatory Surgical Centers), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global PACS and RIS Market
The PACS and RIS market is expected to witness market growth at a rate of 6.61% in the forecast period of 2021 to 2028 and is expected to reach USD 10,492.53 million by 2028. Data Bridge Market Research report on PACS and RIS market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The rapid digitization in the healthcare industry is escalating the growth of PACS and RIS market.
A picture archiving and communication system (PACS) refers to a medical imaging technology which offers convenient access to and economical storage of images from multiple modalities whereas, RIS (radiology information system) refers to a computerized database used by radiology departments in order to store, manipulate and distribute patient radiological data and imagery. These technologies provide cost effective and manageable access to images from multiple source modalities such as computed tomography (CT), ultrasound, X-ray plain film (PF) and magnetic resonance imaging (MRI) among others.
The increasing popularity of PACS as they assist in reducing the physical and time barriers associated with traditional film-based image retrieval, distribution and display and rising number of health care facilities and high-value products such as cardiology PACS, orthopedic PACS and oncology PACS are the major factors driving the PACS and RIS market. The increase in the total number of diagnostic tests procedures performed across the globe due to the growth in awareness regarding early diagnosis of diseases and high application in hospitals and clinics because it eliminates the need of maintaining hard copies of images and replaces them with digital storage accelerating the PACS and RIS market further. The increasing need for storing, interpreting and consultation by large number of medical experts on patient diagnostic images, the insufficiency to host and store these images and scalability and interoperability and the rise in demand for solution to enable easy access and secured sharing of all clinical information thus protecting privacy of patients and keeping costs in check from healthcare industry also influence the PACS and RIS market. Additionally, integration of patient images with electronic medical records and health information exchange platforms, adoption of advanced technology, improving healthcare infrastructure and surge in healthcare expenditure positively affect the PACS and RIS market. Furthermore, adoption of cloud based solutions and technological advancement extends profitable opportunities to the PACS and RIS market players in the forecast period of 2021 to 2028.
On the other hand, the issue with the integration of applications for the radiologist as well as to integrate it with larger healthcare imaging and information solutions and high cost associated with the technology are the factors expected to obstruct the PACS and RIS market growth. The continuous need to synchronize with the requirements and developments in the market are projected to challenge the PACS and RIS market in the forecast period of 2021 to 2028.
This PACS and RIS 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 PACS and RIS market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
PACS and RIS Market Scope and Market Size
The PACS and RIS market is segmented on the basis of product, component, deployment and end users. The growth amongst these segments will help you analyze meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of product, the PACS and RIS market is segmented into picture archiving and communication system (PACS) and radiology information system (RIS). Picture archiving and communication system (PACS) is further segmented into cardiology, dental, oncology, orthopedics and others.
- On the basis of component, the PACS and RIS market is segmented into hardware, software and services.
- On the basis of deployment, the PACS and RIS market is segmented into web-based, cloud-based and on-premise.
- On the basis of end users, the PACS and RIS market is segmented into hospitals, diagnostic centers, research and academic institutes and ambulatory surgical centers.
Global PACS and RIS Market Country Level Analysis
The PACS and RIS market is analyzed and market size insights and trends are provided by country, product, component, deployment and end users as referenced above.
The countries covered in the global PACS and RIS market report are the 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 PACS and RIS market because of the rising health care demand and substantial government interventions for research and development in the region.
The country section of the PACS and RIS market 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 such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, 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 PACS and RIS 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 PACS and RIS market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the PACS and RIS market. The data is available for historic period 2011-2019.
Competitive Landscape and PACS and RIS Market Share Analysis
The PACS and RIS 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 PACS and RIS market.
The major players covered in the PACS and RIS market report are GENERAL ELECTRIC COMPANY, Koninklijke Philips N.V., FUJIFILM Holdings Corporation, McKesson Corporation, Siemens Healthcare Private Limited, Agfa-Gevaert Group, Allscripts Healthcare, LLC, Avreo, INFINITT North America Inc., IBM, PACSHealth, LLC, ScImage, Inc., Cerner Corporation, Novarad among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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