PACS and RIS Market - Detailed Analysis of Current and Future Industry Figures till 2027 | Novarad, INFINITT Healthcare Co., Agfa-Gevaert Group, IBM, McKesson, Siemens AG

The global PACS and RIS market by product was led by PACS segment. In 2018, the segment of held the largest market share in the PACS and RIS market, by product. The segment is also expected to witness growth at a significant rate during the forecast period, as the solution offers benefits such as improved viewing and analysis, easy access to images and other reports, efficient data management

Europe is the second largest geographic market and is expected to be the second most significant revenue contributor throughout the forecast period. The region has witnessed several technological advancements in the field of healthcare by the incorporation of digital technology in order to increase the efficiency of healthcare facilities in the region. The growth is driven by factors such as government collaborations with technology providers, prevalence of cancer in the countries.

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The global PACS and RIS market expected to be US$ 2,728.43 Mn in 2018 and is predicted to grow at a CAGR of 7.4% during the forecast period 2019 – 2027, to reach US$ 5,008.93 Mn by 2027.

The major players operating in the PACS and RIS market include, McKesson Corporation, General Electric, Fujifilm Holdings Corporation, Koninklijke Philips N.V., Siemens AG, Cerner Corporation, IBM, Novarad, Agfa-Gevaert Group, and INFINITT Healthcare Co., Ltd.

The market has witnessed various organic as well as inorganic developments during recent years in the PACS and RIS market. During September 2018, Novarad Corporation entered into a contract with Brown University Health Services to provide PACS and RIS software. The solution offers enhanced control over study information as well as an increased capacity for care both inside as well as outside of the facility, especially while referring physicians. These properties have led to increased adoption of the solution among the customers.

The market for PACS and RIS is expected to grow, owing to factors such as developments in diagnostic imaging modalities coupled with the rising number of diagnostic tests procedures, affordable price of new generation PACS software and new product launches & FDA approvals. In addition, increasing demand for orthopaedic PACS likely to have a positive impact on the growth of the market in the coming years.

During the year 2012, Canadians underwent 1.7 million magnetic resonance imaging (MRI) exams and 4.4 million computed tomographies (CT) exams. The statistics reveal, nearly double the number of such reviews performed during 2003. The national rate for CT scans were 126 per 1,000 individuals around 2014 and 2015. Rates ranged from 209 (New Brunswick) and 170 (Newfoundland and Labrador) to 88 (Alberta) and 93 (Prince Edward Island). In addition, according to the National Health Services (NHS) UK, there were 4.1 million imaging tests conducted in England in the 12 months from February 2016 to January 2017. Of these, 3.49 million imaging tests were reported to have taken place in January 2017.

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Report Scope:

- This report is a business analysis that examines market trends for PACS and RIS. The report includes sections on the following topics
- Current prevalence of PACS and RIS, trend analysis and factors influencing future incidence.
- Market analysis by treatment type, including annual incidence and trend analysis.
- Risk factors and other drivers that may impact the future incidence of PACS and RIS.
- Review of the major market opportunities by identifying specific high-growth and emerging market opportunities.
- Market share and information on key market players.
- Analysis and forecast of the revenues for PACS and RIS for the global market, major market subsegments subdivided by geographic region and further, by selected country.
- Detailed review of the current products, their indications for all identified market segments.
- Profile of the individual market subsegments within the major market segments analyzed and the distinguishing features of each of the market subsegments.

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