Owing to Rapid Technological Advancements in Healthcare; Picture Archiving and Communication Systems (PACS) and Radiology Information Systems (RIS) Market set to reach US$3.9 Billion by 2024

“The importance and benefits of healthcare IT have been recognized with several governments around the world, spurring technological advancements in the field,” the lead analyst states. The usage of PACS and RIS for the accurate and detailed evaluation of patient’s health has increased as a result of this. An example of favorable government intervention would be the U.S. Government, which encourages the adoption of healthcare IT products such as RIS-PACS and hospital information systems (HIS) to maintain electronic health records (EHR). The rising adoption of EHR systems in hospital as well as office-based practices has also increased in recent times, further driving the demand for PACS and RIS. These systems allow medical images to be saved electronically and ensures the effective and easy accessibility of the images to caregivers. On the other hand, high equipment cost acts as a major deterrent to the global PACS and RIS market. “In addition to the initial expense of hardware and software licenses, costs pertaining to ongoing tech support and implementation also restricts the adoption of PACS and RIS by healthcare facilities,” the author of the study reports.

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Market share and competitive matrix by key players has been provided for new entrants as well as existing players to help establish a strong presence in the market and increase market share. The report also profiles major players in the PACS and RIS market based on various attributes such as company overview, financial overview, business strategies, product portfolio, and recent developments. Major players profiled in this report include GE Healthcare, Philips Healthcare, Fujifilm Holdings Corporation, Siemens Healthineers, McKesson Corporation, Agfa Healthcare, and Allscripts Healthcare Solutions, Inc.

The PACS and RIS market has been segmented based on product, component, deployment, end-user, and region. Based on product type, the market has been segmented into PACS and RIS in which PACS are further segmented into: cardiology PACS, dental PACS, oncology PACS, orthopedic PACS and other PACS. In terms of component, the market has been categorized into hardware, software, and services. Based on deployment, the market has been segmented into web-based, cloud-based, and on-premise. The end user segment has been classified into four major sub-segments into hospitals, diagnostic centers, research & academic institutes, and ambulatory surgical centers.

The executive summary provides detailed insights about the report and the market in general. This elaborate executive summary provides a glimpse into the present scenario of the global PACS and RIS market, which includes a market snapshot that provides overall information of various segments and sub-segments. The executive summary also provides overall information and data analysis of the global PACS and RIS market with respect to market segments based on product, component, deployment, end-user, as well as geographic regions. The market for PACS and RIS has been extensively analyzed based on their usefulness, effectiveness, sales revenue, and geographic presence. The market size and forecast in terms of US$ Mn for each product type, component, deployment, end-user and geography has been provided for the period from 2016 to 2024. This report on the PACS and RIS market also provides the compound annual growth rate (CAGR %) for each market segment for the forecast period from 2016 to 2024, considering 2015 as the base year.

Geographically, the PACS and RIS market has been segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market size and forecast for each of these regions have been provided for the period from 2016 to 2024, along with CAGR (%) for the forecast period from 2016 to 2024. The research study also incorporates the competitive scenario in these regions.

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