Vendor Neutral Archive (VNA) & PACS Market Worth $7.3 billion | MarketsandMarkets Trademark

Vendor Neutral Archive (VNA) & PACS Market in terms of revenue was estimated to be worth $4.6 billion in 2024 and is poised to reach $7.3 billion by 2029, growing at a CAGR of 9.5% from 2024 to 2029 according to a new report by MarketsandMarkets Trademark .
Vendor Neutral Archive (VNA) & PACS Market [https://www.marketsandmarkets.com/Market-Reports/vendor-neutral-archive-VNA-PACS-market-1255.html?utm_source=Paid&utm_medium=Referral&utm_id=ABnewswire] in terms of revenue was estimated to be worth $4.6 billion in 2024 and is poised to reach $7.3 billion by 2029, growing at a CAGR of 9.5% from 2024 to 2029 according to a new report by MarketsandMarkets Trademark .

The growth in the Vendor Neutral Archive (VNA) & PACS market is driven by increasing demand for standard-based medical image archiving solutions, increasing adoption of digital medical imaging technologies, such as MRI, CT scans, and X-rays, and advanced storage and management solutions. Moreover, the rising prevalence of chronic diseases and age-related conditions is fuelling the demand for diagnostic imaging services, leading to a surge in the volume of medical imaging data generated. However, the high implementation and maintenance cost associated with these systems poses a challenge to the market growth.

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VNA segment accounted for the largest share of the global Vendor Neutral Archive (VNA) & PACS market in 2023.

On the basis product type, the Vendor Neutral Archive (VNA) & PACS market is segmented into VNA and PACS segment. The VNA segment accounted for the largest share of the product type segment in 2023. As this solution liberate data from being stored within various departmental silos. This significantly reduces the operating cost and support costs as well as data migration costs. In addition to the cost savings, these solutions also help to meet the Health Insurance Portability and Accountability Act (HIPAA) Security Rule. Additionally, cloud VNAs facilitate remote access to medical images, enabling collaborative care, telemedicine, and remote diagnostics, which are increasingly vital in today's distributed healthcare environment

By modality, Computed Tomography (CT) segment accounted for the largest market share in 2023.

Based on modality, the Vendor Neutral Archive (VNA) & PACS market is segmented into CT, mammography, MRI, ultrasound, X-rays, and PET. The CT segment held the largest market in 2023 due growing need for accurate and early diagnosis, advancements in technology, and the digitalization of healthcare. Additionally, CT scans play a crucial role in preventing unnecessary surgeries, improving cancer diagnosis and treatment, and enhancing patient care. Thus, the efficiency, versatility, and effectiveness of CT scans have made them indispensable in modern healthcare, driving their dominance in the VNA and PACS market as the preferred imaging modality for a diverse range of medical applications.

Hospitals & clinics are largest end users of the Vendor Neutral Archive (VNA) & PACS market

Based on end users, the Vendor Neutral Archive (VNA) & PACS market is segmented into hospitals & clinics, diagnostic centers, ambulatory surgical centers, and other end user which includes academic and research institutes. The hospitals & clinics held the largest share among the end-users in 2023 as these end users generate a large volume of medical images daily. The need for efficient image management, storage, and retrieval is crucial in hospitals to provide timely and accurate diagnoses and treatment plans. Hospitals also have the necessary infrastructure and resources to invest in advanced medical imaging technologies, including VNA and PACS systems. Additionally, hospitals often have multiple departments and specialists who require access to medical images, making the integration and interoperability capabilities of VNA and PACS systems essential. Thus, the increasing demand for medical imaging services, coupled with the need for efficient and effective image management, has led to the growth of the VNA and PACS market in hospitals. Furthermore, the ongoing advancements in medical imaging technology, such as 3D and 4D imaging, have increased the need for VNA and PACS systems to manage and store large volumes of high-resolution images.

North America dominates the global Vendor Neutral Archive (VNA) & PACS market.

The Vendor Neutral Archive (VNA) & PACS market is segmented into five major regional segments, namely, North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. In 2023, North America accounted for the largest share of the Vendor Neutral Archive (VNA) & PACS market. This region's dominance is due to well-established healthcare system with a high adoption rate of advanced medical technologies. The United States is a significant contributor to the market, with a large number of hospitals and healthcare facilities investing in VNA and PACS systems to manage their growing medical imaging data. Moreover, in recent years, several startup players have emerged in the VNA and PACS market, offering innovative solutions to address the challenges of medical image management. These startups are leveraging advanced technologies like cloud computing, artificial intelligence, and machine learning to develop solutions that are more efficient, user-friendly, and cost-effective than traditional VNA and PACS systems

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Vendor Neutral Archive (VNA) & PACS Market Dynamics:

Drivers:

* Growing demand for streamlined healthcare data management solutions

Restraints:

* Lack of standardized protocols and interoperability frameworks

Opportunities:

* Increasing Medical Imaging Procedures and Large Imaging Data Silos

Challenge:

* Data security issues

Key Market Players of Vendor Neutral Archive (VNA) & PACS Industry:

Prominent players in the Vendor Neutral Archive (VNA) & PACS market include Hyland Software, Inc. (US), Agfa-Gevaert Group. (Belgium), Intelerad Medical Systems Inc (Canada), CANON MEDICAL SYSTEMS CORPORATION (Japan), FUJIFILM Holdings Corporation (Japan), GE HEALTHCARE TECHNOLOGIES INC. (US), Merative (US), Sectra AB (Sweden), Siemens Healthcare Limited (Germany), BridgeHead Software Ltd. (UK), Canopy Partners. (US), Novarad Corporation. (US), POSTDICOM (Netherlands), AdvaHealth Solutions Pte Ltd (Singapore), CrelioHealth (India), Medicasoft. (US), Esaote SPA (Italy), PaxeraHealth (US), VISUS Health IT GmbH (Germany), ASPYRA, LLC (US), Dedalus S.p.A. (Italy), SoftTeam Solutions Pvt Ltd. (India), ARO Systems (Australia), Central Data Networks (Australia), and ONEPACS (US)

Breakdown of supply-side primary interviews, by company type, designation, and region:

* By Company Type: Tier 1 (40%), Tier 2 (35%), and Tier 3 (25%)
* By Designation: C-level (35%), Director-level (45%), and Others (20%)
* By Region: North America (55%), Europe (20%), Asia Pacific (15%), Latin America (5%) and Middle East Africa (5%)

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