Picture Archiving and Communication Systems (PACS) Market Forecast and Segments, 2016-2020

Picture Archiving and Communication Systems or PACS is a healthcare technology used for storage, retrieval and sharing of medical images. The technology is constantly evolving and overlaps with other healthcare IT technologies such as remote patient monitoring and telemedicine. These technologies allow hospitals, clinics and medical experts to capture, store and view images internally as well as externally through cloud servers and remote storage devices over the internet. The result is faster diagnosis, multiple consultations, quicker understanding of patient history and better treatment. PACS addresses several problems of conventional film images as well such as delayed consultation and diagnosis due to non-availability of images in multiple access points. Radiologists and ultrasound technicians among other image modality experts are greatly benefited as images are directly stored on server, where a diagnostician accesses them from another point to quickly give a result. By integrating to OT cameras, live OT images can be streamed live for cross consultations. This advanced form of communication brings medical experts from niche medical areas from their field closer to perform procedures that have already saved millions of lives.

There are four major components in any PACS structure that includes, imaging modalities such as X-ray, MRI, ultrasound and CT. The second component is the secure online network for distribution and exchange of information. The third component includes stationary and mobile workstations that can access storage area of patient records and images and finally a secure cloud or local server with capabilities to high definition images and videos that can be accessed anytime later. Ordinary hardware equipment integrated with advanced software and excellent band-width comprises of the core elements in the system. All equipment must be Digital Imaging and Communications in Medicine or DICOM compliant. DICOM is a standard for handling, storing, printing, and transmitting information in medical imaging.

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Remote access capabilities, increased efficiency and diagnosis rate, greater hospital footfall, reduction in hospital expenditure caused by occupancy of hospital equipment are some of the major advantages offered by this technology. This is also supplemented by the decreasing costs of data storage devices, which can now be used to a great extent by very large hospitals and outsourced to cloud-based storage service providers. The global market for PACS in 2014 was estimated to be valued at US$ 4.0 billion. With increasing adoption in eastern hemisphere, particularly growing economies such as China, India, Indonesia, South Africa and Brazil, the market is expected to top US$ 6.5 billion by 2020, however these are only estimates based on the on-going research. United States, Germany United Kingdom, France, Netherlands, Canada, Japan and Spain are the majority of the world’s developed economies where hospitals can afford to install PACS systems on a large scale. This can be interpreted into North America and Europe being the largest markets for Healthcare Information Technology -HIT systems currently. Increasing healthcare investment due to recent positive political changes in countries such as Brazil and India have reaffirmed expert opinions that the developing countries are heading for a smarter and faster healthcare systems in coming years.

Presence of high speed internet required for greatest PACS efficiency is yet to be established in developing countries, however, this has not deterred from initiating small steps. Implementation with some third party solutions in hospitals also poses considerable technological challenge for service providers. This inhibits the growth of these technologies in developing regions of the world such as LATAM, Middle East and Asia-Pacific. In terms of players, the market is highly fragmented with competitors such as MedPacs Systems, AGFA Healthcare, TBF Technology Pvt. Ltd, MedSynaptic, GE Healthcare, Philips Healthcare, FujiFilm, Napier Healthcare, Siemens, Vepro, and Cisco Medical Grade Network among many others.

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