Global Picture Archiving And Communication System (PACS) Market Size To Grow At A CAGR Of 6.2% In The Forecast Period Of 2023-2031

SHERIDAN, WYOMING, UNITED STATES, June 26, 2023/EINPresswire.com/ -- The ‘Global Picture Archiving and Communication System (PACS) Market Size, Share, Analysis, Report and Forecast 2023-2031’ by Expert Market Research gives an extensive outlook of the global picture archiving and communication system market, assessing the market on the basis of its segments like component, deployment type, imaging type, type, end-uses, and major regions.

The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.

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The key highlights of the report include:

Market Overview (2018-2031)

Historical Market Size (2022): USD 2.76 billion
Forecast CAGR (2023-2031): 6.2%

The surging incidences of cancer coupled with unmet medical requirements are evolving the picture archiving and communication system market growth globally. With growing digitalisation, the demand for cybersecurity is enhancing due to the drastic increase in cybercrimes. This is further expected to fuel the market growth of picture archiving and communication systems over the coming years. Going further, Cloud-based picture archiving and communication systems are the latest development in the market which is expected to fuel market growth in the upcoming years.

Based on the region, North American is expected to witness significant growth in the picture archiving and communication system market share on account of the well-established healthcare industry along with the presence of advanced technologies in the region. The surging usage of picture archiving and communication systems in hospitals is further propelling the market growth in the region.

Meanwhile, the Asia Pacific region is expected to register substantial growth in the picture archiving and communication system market due to the growing government support to expand healthcare infrastructure across the region.

Picture Archiving and Communication System (PACS) Industry Definition and Major Segments

Picture archiving and communication systems are medical imaging technologies employed mainly in healthcare associations to securely store as well as digitally transmit electronic images and clinically relevant reports. Its use reduces the requirement to manually store, file, send, and retrieve sensitive data, reports, and films. Medical documentation and images can be securely stored on off-site servers and safely retrieved from any place across the globe utilising PACS workstations, software, and mobile devices.

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On the basis of component, the market can be segmented into:

Hardware
Software
Services

Based on deployment type, the market can be divided into:

On-Premise
On-Demand
SAAS

By imaging type, the market is segregated into:

X-Ray
PET-CT
MRI
Nuclear Imaging
Ultrasound
Others

On the basis of type, the picture archiving and communication system market is categorised into:

Cardiology PACS (C-PACS)
Oncology PACS
Dental PACS
Orthopedics
Others

By end-uses, the market is classified into:

Hospitals
Dental Practices
Clinical/Imaging Centres
Diagnostic Centres
Ambulatory Surgical Centres
Research and Academic Institutes
Others

Based on region, the market is divided into:

North America
Latin America
Asia Pacific
Europe
Middle East and Africa

Picture Archiving and Communication System (PACS) Market Trends

Digital Imaging and Communications in Medicine or DICOM is the standard protocol for the management and transmission of medical images and related data. The global picture archiving and communication system market is projected to gain momentum on account of evolving technologies supported by DICOM. The growing efforts for incorporating electronic health records along with other digital workflows are expected to drive the market growth of picture archiving and communication systems.

The market for picture archiving and communication systems in likely to be boosted across the globe as healthcare system promoters support the technology for easier management of patient data for better treatment. The combination of electronic health records with electronic medical records has further evolved the market opportunities for picture archiving and communication systems. The rising awareness of such clinics among developing worldwide countries has expanded the avenues for the picture archiving and communication system market.

Key Market Players

The major players in the global picture archiving and communication system market report are:

General Electric Company
Siemens Healthineers AG
Fujifilm Holding Corporation
Sectra AB
Infinitt Healthcare Co. Ltd.
IBM Corporation
Others

The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.

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