Specialty PACS Market Is Projected to Reach an Estimate of $4,485.96 Million By 2030, Claims Allied Market Research
Allied Market Research
6 min read
Allied Market Research
The global specialty PACS market growth is driven by the rise in investments in medical imaging, increasing utilization of imaging equipment, and the rise in the geriatric population.
Wilmington, Delaware, Oct. 25, 2023 (GLOBE NEWSWIRE) -- According to the report released by Allied Market Research, titled, “Specialty PACS Market by Type (Women's Health PACS, Orthopedics PACS, Radiology PACS, Pathology PACS, Oncology PACS, Endoscopy PACS), by Deployment Model (Cloud-Based Specialty PACS and On-Premises Specialty PACS), by End User (Ambulatory Surgical Centers, Hospitals and Clinics, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030.” As per the report, the global specialty PACS industry was estimated at $2,682.88 million in 2020 and is estimated to reach $4,485.96 million by 2030, growing at a CAGR of 5.5% from 2021 to 2030.
The global specialty PACS market growth is driven by the rise in investments in medical imaging, increasing usage of imaging systems, and the rise in the geriatric populace. On the other hand, the increasing cost of remedy and a lack of awareness of the technology impede market growth to some extent. Moreover, the improvement of imaging solutions is anticipated to offer the market players new opportunities in the future.
The radiology PACS segment to maintain its leadership status throughout the forecast period-
By type, the radiology PACS segment held the major share in 2020, holding nearly three-fifths of the global specialty PACS market revenue, and is expected to maintain its leadership status throughout the projection period. This is due to a growing geriatric population, as well as an increase in the volume of medical imaging. However, the ophthalmology PACS segment would display the fastest CAGR of 6.2% from 2021 to 2030. This is due to the increasing incidence of chronic illnesses and the surge in demand for medical imaging services.
Recent Developments in the Specialty PACS Market
In April 2022, FUJIFILM Healthcare Americas Corporation, a one of the leading provider of enterprise imaging and informatics solutions, has installed Fujifilm’s Synapse Cardiology PACS version 7 throughout Emory Healthcare facilities to store, process and analyze heart and vascular imaging. Emory Healthcare is the most comprehensive academic health system in Georgia.
In March 2022, InteleradMedical Systems launched its new Enterprise Imaging and Informatics Suite at the 2022 HIMSS Global Health Conference & Exhibition in Orlando, Florida. This suite include IntelePACS is developed to empower hospitals and health systems to break down siloed data and create a seamless, vendor-neutral information hub, integrating vital patient data across the entire healthcare ecosystem.
In December 2021, Synapsica, one of the India’s leading AI-based radiology reporting company announced a partnership with GenWorks Health, a healthcare options supplier backed by Wipro GE Healthcare, to deliver its PACS to cities across India. Its Radiolens radiology workflow resolution routinely detects dangerous high-quality scans and creates preliminary studies for most typical modalities.
In November 2020, Siemens Healthineers introduced Syngo Carbon, a new software environment for enterprise-wide image reading and reporting. With Syngo Carbon1, Siemens Healthineers assures easy access to all relevant data generated in the processes of imaging and reporting.
In November 2020, INFINITT North America participated in the RSNA’s virtual meeting where it announced the launch of its PACS products like INFINITT PACS 7.0, INFINITT’s Mammo PACS, INFINITT Digital Pathology PACS and INFINITT RT PACS.
The hospitals and clinics segment to maintain its lead position during the projection period-
By end user, the hospitals and clinics segment held the highest market share in 2020, contributed to more than half of the global specialty PACS market revenue, and is estimated to maintain its lead position during the projection period. The same segment would also exhibit the highest CAGR of 6.0% from 2021 to 2030. This is due to the rise in the number of hospitals in developed and developing countries and the prevalence of hospital visits for the diagnosis and treatment of diseases. On the other hand, it also examines the ambulatory surgery centers and others segments.
By region, the North America region held the largest share in 2020, garnering nearly two-fifths of the global specialty PACS market revenue, and is likely to dominate the market during the forecast period. This is due to the increasing demand for PACS systems and the availability of advanced healthcare facilities with highly trained medical staff. On the other hand, the Asia-Pacific region is expected to register the fastest CAGR of 6.9% during the forecast period.
Industry-Leading Players: -
McKesson Corporation
Onex Corporation (Carestream Health)
INC Escalon Medical Corp.
Canon Inc. (Canon Medical System Corporation)
EyePACS, LLC
INFINITT Healthcare Co. Ltd.
IBM Corporation
Novarad
Koninklijke Philips N.V.
Siemens AG
The report offers an in-depth assessment of the leading players in the global specialty PACS industry. They have employed a variety of strategies, including product development and launches, to expand their market revenue and remain dominant in various geographic areas. The report serves to emphasize the competitive landscape by analyzing top segments, business performance, product portfolios, and the strategic actions of market participants.
Comprehensive Healthcare Industry Research Studies: -
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