VNA & PACS Market by Department (Cardiology, Radiology, Pathology, Oncology, Ortho), Enterprise, Delivery Mode (On premise, Hybrid, Cloud), Vendor (PACS, ISV, Infrastructure), End User (Hospitals, Diagnostic Imaging Center) - Global Forecast to 2023
The global VNA & PACS market is expected to grow at a CAGR of 7.2% from 2018 to reach $3.87 billion by 2023. The factors such as growing investments in the medical imaging market, technological advancements in diagnostic imaging modalities and image management solutions, rapid growth in geriatric imaging volumes, growing adoption of health IT and EHRs, and rising focus on value-based care are driving the growth of VNA & PACS market. Moreover, increasing need for integration of PACS/VNA with EMR, growing penetration of artificial intelligence in medical imaging, and hybrid and cloud-based VNA represent high-growth opportunities that further supports the growth of this market. However, longer product lifecycle of VNA and budgetary constraints may hinder the growth of Vendor Neutral Archive (VNA) & Picture Archiving and Communication System (PACS) market to some extent.
Departmental PACS are widely adopted owing to significant adoption of PACS in radiology department where majority of the imaging studies are handled, managed, and stored; and rising incorporation of PACS into other specialties such as cardiology, ophthalmology, oncology, endoscopy, teleradiology, dermatology, pathology, neurology, and dentistry. Moreover, increasing pressure to improve care quality; increasing efforts to enhance the patient experience and reduce costs; and rapid increase in capture, storage, indexing and sharing of medical images further supports the demand for departmental PACS.
Hospitals commanded the largest share of the global market in 2017 with significant patient population treated in hospitals, increasing focus to reduce the future need for costly and time-consuming data migrations, growing number of hospitals especially in developing countries, greater budget to implement advanced solutions such as VNA in hospitals, rising aging population and burden of chronic diseases, increasing adoption of medical imaging equipment leading to rising volume of images to be managed efficiently, growing demand for enterprise-wide image data management in hospitals, and growing emphasis on value-based care.
An in-depth analysis of the geographical scenario of the industry provides detailed qualitative and quantitative insights about the five major geographies (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa) along with the coverage of major countries in each region. North America commanded the largest share of the Vendor Neutral Archive (VNA) & Picture Archiving and Communication System (PACS) market in 2017, followed by Europe and Asia-Pacific. The large share of this region is mainly attributed to factors such as presence of major health IT and VNA & PACS companies in the U.S., implementation of HITECH and ACA in the U.S., growing adoption of EHRs, increasing demand for standard-based medical image archiving and non-DICOM content management, technological advancements in diagnostic imaging modalities, and rapidly growing big data in healthcare.
Some of the major players operating in the Vendor Neutral Archive (VNA) & Picture Archiving and Communication System (PACS) market are Agfa-Gevaert, BridgeHead Software Limited, Carestream Health, Inc., FUJIFILM Medical Systems U.S.A., GE Healthcare, Hyland Software, Inc., Merge Healthcare Inc. (IBM), Mach7 Technologies, McKesson Corporation (Change Healthcare), Novarad Corporation, Koninklijke Philips N.V., and Siemens Healthineers, Sectra AB, INFINITT Healthcare CO., among many others.
Scope of the Report:
PACS Market by Procurement Model
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