Vendor Neutral Archive (VNA) & PACS Market to Perceive Exponential Growth at CAGR 5.9% Driven By AGFA HEALTHCARE nv, LEXMARK INTERNATIONAL, NOVARAD CORPORATION, FUJIFILM HOLDINGS CORPORATION, IBM CORPORATION, DELL TECHNOLOGIES

Vendor Neutral Archive (VNA) & PACS Market Overview
The global Vendor Neutral Archive (VNA) & PACS market has been estimated at USD 3.28 billion in 2017. The market is expected to register a CAGR of 5.9% during the forecast period, 2018 to 2023. North America accounted for the largest market share, accounting for approximately 60% of the global market share in 2017, while Europe region was estimated to register the fastest CAGR through the forecast period, 2018-2023.

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Rising Demand of Image Archiving
PACS dominates over VNA generating most of the revenue from the PACS replacements. PACS systems store data as per the DICOM (Digital Imaging and Communication in Medicine) standard to maintain uniformity; however, different companies have different internal formats for storing data. Here, VNA helps in centralized storage and the universalization of the image format. The requirement for a repository of medical images for accessing and sharing is increasing drastically. Therefore, it is one of the fastest growing areas.
In addition, factors such as demand for storage of non-image medical data, reduction in the cost of data storage, integration with electronic health record (EHR) and compatibility of VNA with older data archival systems also drives this market.

Key Developments in the Market
August 2017: FujiFilm launched Synapse PACS version 5 in the United States.
August 2017: Carestream Health showcased Touch Prime and Touch Prime XE Ultrasound Systems at society for vascular ultrasound show; capable of frame rates in excess of 100Hz with enhanced imaging detail and provides rapid image transfers to PACS, RIS and other systems.
May 2017: Intelerad Medical Systems launched all-in-one VNA software. CosmosOne allows care providers to consolidate storage and security for a huge range of medical information, realizing economies-of-scale savings as well ensuring consistency across departments and facilities.

Major Players:
AGFA HEALTHCARE nv, LEXMARK INTERNATIONAL inc, NOVARAD CORPORATION, FUJIFILM HOLDINGS CORPORATION, IBM CORPORATION, DELL TECHNOLOGIES inc, SIEMENS ag, KONINKLIJKE PHILIPS nv, GE HEALTHCARE, MCKESSON CORPORATION.

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Sales Affected by Long-Term VNA Lifecycles
Though VNA facilitates scalable images, information and lifecycle management, the long VNA lifecycles may affect the buying decisions of users and lead to misinterpretations about the basic concepts of VNAs. Also, there is the availability of long-term data which depicts the disease propensity of an individual creating the reluctance to the insurance providers and other service providers are reluctant to give services. Hospitals, clinics and diagnostic centers are reluctant to implement this software. This impedes the growth of this market.

North America A Dominating Region of this Market
The global market of VNA and PACS is segmented by application, delivery mode, usage model, player (vendor) type and geographically. By geography, it is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa and South America.
North America accounted for the largest market share, accounting for approximately 60% of the global market share in 2017. VNA has been used to store medical radiology and cardiology images using. Most of the VNA studies in North America are through managing DICOM within a single hospital setting storing medical radiology and cardiology images, showing that current demand is driven by the need to consolidate images and reduce image migration costs. Also, Europe region was estimated to register the fastest CAGR through the forecast period, 2018-2023.

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This release was published on openPR.