PACS and RIS Market Opportunities & Technology Developments by 2027 | Novarad, Siemens AG, General Electric Company, Agfa-Gevaert Group, Cerner Corporation

PACS and RIS Market to 2027 – Global Analysis and Forecast – by product, component, deployment, and end user,” the market is expected to reach US$ 5,441.87 million by 2027 from US$ 2,836.65 million in 2019. The market is estimated to grow with a CAGR of 8.4 % from 2020 to 2027. The report highlights trends prevailing in the market, and drivers and hindrances pertaining to the market growth.

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Major industry key players include Agfa-Gevaert Group; INFINITT Healthcare Co., Ltd.; McKesson Corporation; Cerner Corporation; General Electric Company; Koninklijke Philips N.V.; FUJIFILM Holdings Corporation; Siemens AG; IBM; and Novarad.

The picture archiving and communication system (PACS) manages, retrieves, stores, and distributes the medical images. In the field of radiology, it is used for sharing and viewing diagnostic images. A radiology information system (RIS) is a software system used for handling medical images and other associated data. RIS retains track of radiology imaging orders and data of bills. It is used along with PACS and vendor-neutral archives (VNAs). RIS manages image archives, keeps records, and billing.

COVID-19 pandemic has become the most significant challenge across the world. The demand PACS and RIS have increased in hospitals due to COVID 19 as the fast and easily accessible patient imaging is crucial in treatment of COVID 19 sufferers. This has resulted in increased demand for picture archiving and communication systems (PACS), which in turn secure growth and sustainability in this market.

COVID-19 Pandemic disrupted the entire world and affected many industries.

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In April, the U.S. Food and Drug Administration (FDA) has approved Intelerad’s InteleConnect EV solution for diagnostic imaging review on a range of mobile devices. This approval comes at a critical time for healthcare systems and ensures that radiologists are able to collaborate and leverage resources in more creative ways, even when workstation access is not available. It also is approved for mobile diagnostic image review, and can immediately be used on various iPad and iPhone models, with additional devices on the horizon. All the aforementioned factors are expected to bring positive prospects for PACS and RIS market during this pandemic crisis.

Benefits of Reports

- In-depth study of the pharmaceutical industry
with a special focus on the global market trend
analysis

- The report aims to provide an overview of
PACS and RIS Market with detailed market
segmentation by product type, Procedure type,
method, end user, and geography.

- The report provides key statistics on the market
status of the leading PACS and RIS Market
players and offers key trends and opportunities
in the market.

Segmentations:

Based on products, the PACS and RIS market is segmented into picture archiving and communication system (PACS) and radiology information system (RIS). The PACS segment is further segmented into orthopedic PACS, oncology PACS, cardiology PACS, dental PACS, and others. In 2019, the PACS segment accounted for the highest share of the market. Growth of this segment is attributed to increasing adoption of PACS systems in radiological procedures. The same segment is likely to register highest CAGR in the global PACS and RIS market during the forecast period. In sub segments orthopedic segment held major market share.

Based on component, the PACS and RIS market is segmented into software, hardware, and services. The software segment held the largest share of the market in 2019, and is anticipated to register the highest CAGR in the market during the forecast period.

Based on deployment, the PACS and RIS market is segmented into Web-Based, On-Premise and Cloud-Based. The Web-Based segment held the largest share of the market in 2019, and Cloud-Based segment is anticipated to register the highest CAGR in the market during the forecast period.

Based on end user, the PACS and RIS market is segmented into hospitals, diagnostic centers, research & academic institutes, and other end users. The hospitals segment held the largest share of the market in 2019, and same segment is anticipated to register the highest CAGR in the market during the forecast period.

Market Insights:

- Developments in Diagnostic Imaging Modalities Coupled with Rising Number of Diagnostic Tests Procedures

- PACS and RIS Products -Based Insights

- Deployment-Based Insights

-End User – Based Insights

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