Home / Technology & Media / Picture Archiving and Communication Systems (PACS) Market Growth, Future Prospects & Competitive Analysis, 2016 - 2023

Picture Archiving and Communication Systems (PACS) Market Growth, Future Prospects & Competitive Analysis, 2016 - 2023

Overview:

Picture Archiving and Communication Systems or PACS is a networking technology used for storage, transmission and management of medical images. PACS is a constantly evolving concept and often operates hand-in-hand with other healthcare concepts such as remote patient monitoring, EMR and telemedicine. PACS allows healthcare systems to store and manage medical images through local or remote servers and cloud. Efficient and appropriate installation of PACS offers faster diagnosis, better understanding of treatment outcomes, efficient decision making, cost saving, multiple consultations and others. Intermediaries such as ultrasound operators and radiologists greatly benefit from PACS as the images procured are directly stored in a single repository and enables quick and remote retrieval for future purpose.

Imaging modality, secure online network for distribution and information exchange, workstation and a secure cloud or local server are the four components of any PACS. All such equipment require to be Digital Imaging and Communications in Medicine (DICOM) compliant. DICOM refers to the standard for storage, handling, printing and transmission of medical image information. Features such as remote access, better diagnosis rate, multiple consultation, improved efficiency, contained healthcare and hospital expenditure and better outcomes are some of the key benefits offered by PACS thus contributing to its growing demand. Moreover, as the prices of data storage solutions are gradually declining, the demand for PACS is anticipated to further grow. Already a widespread technology in the developed markets, PACS is rapidly developing its hold in the Eastern markets of Asia Pacific and Middle East and Africa. Evolution of both general and healthcare infrastructure, faster wireless connectivity, growing importance of maintaining electronic healthcare records and evolution of healthcare IT are some of the key driving factors of Asia Pacific market. Moreover, government reforms and revival of guidelines also support the growth of PACS market in the region.

In terms of players, the market is highly fragmented with competitors such as MedPacs Systems, AGFA Healthcare, TBF Technology Pvt. Ltd, MedSynaptic, GE Healthcare, Philips Healthcare, FujiFilm, Napier Healthcare, Siemens, Vepro, and Cisco Medical Grade Network among many others.

The global picture archiving and communication systems (PACS) market is segmented on the following bases:

1.    Modality

a.    X-ray

b.    CT

c.    MRI

d.    PET & SPECT

e.    Ultrasound

2.    Procurement Mode

a.    Departmental

b.    Enterprise

3.    Components

a.    Software

b.    Hardware

c.    Services

4.    Deployment

a.    On-premise

b.    Web-based

c.    Cloud-based

5.    Geography

a.    North America

               i.    US

               ii.    Canada

b.    Europe

               i.    UK

               ii.    Germany

               iii.    Rest of Europe

c.    Asia Pacific

               i.    Japan

               ii.    China

               iii.    Rest of APAC

d.    Latin America

e.    Middle East and Africa

Key players identified for picture archiving and communication systems (PACS) market include but are not limited to:

GE Healthcare, FujiFilm, Siemens, Cisco Medical Grade Network, AGFA Healthcare, MedPacs Systems, TBF Technology Pvt. Ltd., Philips Healthcare, MedSynaptic and several others

This report offers:

  • An overview of the global markets for PACS
  • Market trends assessment for the period 2013-2023, with historical information for 2013 & 2014, and projections through 2023, with respective CAGRS during 2016-2023
  • Qualitative assessment tools such as market drivers, challenges and future prospects, major commercial events, etc.
  • Market competition scrutiny tools such as market share analysis, attractive investment proposition, and Porter’s Five Forces model
  • Focus on each level of market segmentation based on product approvals, launch, and current and anticipated market dynamics
  • A general overview of the industry structure
  • Company profiles highlighting key information about the major players operating in the PACS market
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