Specialty PACS Market

Report Scope & Overview:

The Specialty PACS Market Size was valued at USD 3.09 billion in 2022, and expected to reach USD 5.15 billion by 2030, and grow at a CAGR of 6.6% over the forecast period 2023-2030.

PACS is a type of imaging technology that facilitates the transfer of images from the spot where they were captured to numerous physically distant sites. This technology is cost-effective since it eliminates the need for film and makes it simple to access several imaging modalities at once, including ultrasound, CT, MRI, and radiography, at different places throughout hospitals. Any radiological modality utilised for an image storage device or server for short- or long-term data storage is included in the integration of input from digital or digitised analogue instruments.

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The fact that a patient can have radiological tests done at many places without having to travel to see numerous radiologists or treating doctors is advantageous. Images captured by PACS are saved in an archive from whence they are retrieved or fetched and shown for review on a reviewing station after being integrated via network infrastructures.

MARKET DYNAMICS

DRIVERS

• Increasing Government Efforts to Promote the Use of Healthcare IT Solutions

• Investments in Medical Imaging are Growing

• Increasing Adoption of IT Solutions for Medical Imaging

• Growing Use of Imaging Technology

• Growing Geriatric Population and the Incidence of Various Diseases as a Result

• Favorable Features of Specialty PACS

RESTRAINTS

• Concerns about data security and privacy

• Budgetary

OPPORTUNITIES

• Artificial Intelligence and Specialty PACS Solutions Integration

• Growth Prospects Provided by Cloud-Based Specialty PACS Solutions

• EMR and PACS Integration

• The utilization of blockchain in clinical imaging

CHALLENGES

• Lack of awareness

IMPACT OF COVID-19

Numerous pharmaceutical firms and sectors were also affected by the COVID-19 pandemic. The COVID-19 pandemic outbreak has had an impact on the speciality PACS market, healthcare facilities, their supply chain, and decreased demand for PACS devices. Due to the closure of certain industries, it mostly affected big players in the speciality PACS market, who suffered financial losses. In general, COVID-19 had a detrimental effect on the speciality PACS market. This was linked to disruptions in manufacturing, raw material imports and export, and finished goods supply due to shutdowns in several COVID-19-affected nations and an increase in the number of healthcare workers getting sick from the pandemic. Additionally, a decrease in patient hospital visits had an effect on market expansion. Nevertheless, throughout the period following COVID-19, this condition is anticipated to alter.

By Type

The specialty PACS market is categorized into radiology PACS, cardiology PACS, pathology PACS, ophthalmology PACS, orthopedics PACS, oncology PACS, dermatology PACS, neurology PACS, endoscopy PACS, women’s health PACS, and other specialty PACS. The market's greatest share belonged to the radiology PACS sector, but the ophthalmology PACS segment is anticipated to grow at the highest CAGR throughout the forecast period. The increasing frequency of eye diseases and disorders, the growing number of ocular surgeries performed, and technical improvements in ophthalmology devices are some of the reasons driving the expansion of this market.

By Deployment Model

The market is split into on-premise and web/cloud-based specialty PACS. The on-premise category is likely to account for the greatest proportion of the market. This is explained by the fact that on-premise systems, as opposed to web/cloud-based specialist PACS, are more easily customized.

By End-User

The hospital, the ambulatory surgical center (ASC), the clinic, the diagnostic center, and other sections of end users form a medical market. During forecasting, this segment is expected to grow rapidly due to a number of important factors, including increased patient numbers, increased patient awareness of the benefits of early diagnosis, technological advancement in thought processes, increased patient digital integration. data, and rapid growth in EMR acceptance.

MARKET SEGMENTS:

By Type

• Radiology PACS

• Pathology PACS

• Cardiology PACS

• Ophthalmology PACS

• Oncology PACS

• Dermatology PACS

• Orthopedics PACS

• Endoscopy PACS

• Neurology PACS

• Women’s health PACS

By Deployment Model

• On-premise specialty PACS

• Web/Cloud-based specialty PACS

By End-User

• Hospitals

• Ambulatory Surgery Centers & Clinics

• Diagnostic Imaging Centers

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REGIONAL ANALYSIS

Increasing medical imaging volumes, a large number of diagnostic imaging facilities, an ageing population, and the quick uptake of technologically advanced imaging systems are just a few of the factors that helped North America control the largest portion of the market. But during the course of the projection period, Asia Pacific is anticipated to develop at the greatest CAGR. The market in this region is expanding as a result of factors like the rising prevalence of chronic diseases, growing public awareness of the advantages of early disease diagnosis, and expanding use of imaging modalities.

REGIONAL COVERAGE:

• North America

  • USA

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • The Netherlands

  • Rest of Europe

• Asia-Pacific

  • Japan

  • south Korea

  • China

  • India

  • Australia

  • Rest of Asia-Pacific

• The Middle East & Africa

  • Israel

  • UAE

  • South Africa

  • Rest of Middle East & Africa

• Latin America

  • Brazil

  • Argentina

  • Rest of Latin America

KEY PLAYERS:

Some of the major key players are as follows: Canon Inc., McKesson Corporation, INC Escalon Medical Corp., Eye PACS, LLC, IBM Corporation, INFINITT Healthcare Co. Ltd., Novarad, Onex Corporation (Carestream Health), Siemens AG, Koninklijke Philips N.V. and Other Players