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Global Healthcare Cloud Picture Archiving & Communications System Market Size, Trends, and Analysis- Forecasts To 2026 By End-User (Diagnostic Imaging Centres, Hospitals, and Others), By Application (Veterinary Medicine, Orthopedics, Oncology, Cardiology, Ophthalmology, Others), By Region (North America, Asia Pacific, CSA, Europe, and the Middle East and Africa); End-User Landscape, Company Market Share Analysis & Competitor Analysis
The Healthcare Cloud Picture Archiving and Communication System (PACS) is a medical imaging technology that provides cost-effective access to diagnostic images in clinical settings, and also provide storage and communication facility, from multiple sources such as magnetic resonance imaging (MRI), X-ray plain film (PF), ultrasound and computed tomography (CT). Increasing government investment in PACS technology to digitize medical records and the rising prevalence of chronic diseases are anticipated to push growth over the forecast period.
A secure patient information transmission network in the form of photos and archives for storing and retrieving photographs and reports is what the PACS system offers. Hence the rising demand for PACS in the healthcare industry and technological advancements in healthcare systems around the world will drive the market growth. Furthermore, increasing diagnostic imaging practices and concerns related to early disease diagnosis is anticipated to boost demand for the healthcare cloud picture archiving & communications system during 2021 – 2026.
The market segment is divided into five segments according to the application outlook: veterinary medicine, orthopedics, oncology, cardiology, and ophthalmology, among others. As of 2020, the cardiology segment will grow at the highest CAGR over the projected timeframe. This is due to the rising prevalence of cardiac disease, which is expected to have a huge effect on solutions being adopted.
Based on the study, the end-user market can be divided into two categories: diagnostic imaging centers, and specialty hospitals. The largest market share in 2020 was the hospital segment in terms of sales over the projected timeframe. Due to the growing number of disease complications, healthcare cloud PACS is used extensively in hospitals. The demand for cloud PACS is also expected to be propelled by the rising demand for early diagnosis in hospitals. Moreover, PACS's capacity to provide a robust suite of clinical tools has improved the productivity of the workflow which is likely to stimulate the market's growth in the projected time frame.
The North American region is projected to be the dominant regional segment from 2021 to 2026. It is due to the developed IT infrastructure and favorable government incentives, that the market is anticipated to grow over the forecast period. On the other hand, Asia Pacific will be the fastest-growing region because of the rapid growth of healthcare companies and the rising expansion of manufacturing facilities in emerging nations such as China, India, and Japan. It is anticipated that the rising focus on health care facilities in the region will work to improve the customer experience of the service and thus encourage market growth.
Ambra Health, RamSoft, Inc., Konica Minolta Healthcare Americas, Inc., INFINITT North America Inc., Core Sound Imaging, Inc., VEPRO AG, Koninklijke Philips N.V, Quickpacs, Telemis S.A., UltraLinq, and PostDICOM, among others, are the key players competing in this market.
Please note: This is not an exhaustive list of companies profiled in the report.
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The Global Healthcare Cloud Picture Archiving & Communications System Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Healthcare Cloud Picture Archiving & Communications System Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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