Press release
2025-2034 Specialty PACS Market Evolution: Disruptions, Innovations, and Untapped Opportunities
Specialty PACS Market
What Is the Expected CAGR for the Specialty PACS Market Through 2025?
The growth of the specialty PACS market has been robust in the past few years. The market is anticipated to expand from $3.16 billion in 2024 to $3.37 billion in 2025, signaling a compound annual growth rate (CAGR) of 6.4%. The remarkable progression during the historic period has been spurred by factors such as the escalating use of visualization processes, the rising uptake of cloud-based solutions, increasing importance placed on medical imaging in developing economies, an aging population, and higher healthcare spending.
What's the Projected Size of the Global Specialty PACS Market by 2029?
In the coming years, the specialty pacs market stands to witness substantial expansion. With a compound annual growth rate (CAGR) of 5.1%, the market's valuation is projected to hit $4.11 billion by 2029. Several factors such as developments in telemedicine and remote diagnostics, government policies and regulations, escalating prevalence of chronic illnesses and increased healthcare spending, contribute to the growth projected for this period. The forecast horizon also anticipates significant trends including integration of artificial intelligence (AI), the advent of cloud-based PACS solutions, expansion of telemedicine and teleradiology, improved security functions, customization and solutions tailored to specific specialities.
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Top Growth Drivers in the Specialty PACS Industry: What's Accelerating the Market?
The anticipated expansion of the specialty PACS market is linked with the rising emphasis on telemedicine. Telemedicine involves the remote delivery of healthcare services facilitated by technology, encompassing phone discussions, video conferencing, and various other digital interactions. Specialty PACS capabilities are critical to this focus on telemedicine, as they enable remote accessibility to medical images, promote cooperative diagnostic approaches, and enhance patient care across numerous medical fields, including radiology. For example, data from the Australian Bureau of Statistics, a government agency in Australia, shows that in November 2023, 23.6% of individuals engaged in a telehealth consultation with a general practitioner (GP). Hence, the escalated emphasis on telemedicine is fueling the expansion of the specialty PACS market.
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What Trends Will Shape the Specialty PACS Market Through 2029 and Beyond?
In order to increase their market revenues, key players in the specialty PACS market are focusing on incorporating innovative features such as artificial intelligence (AI) and machine learning (ML). This integration of AI and ML is intended to transition the new era of Picture Archiving and Communication System (PACS) to a cloud-based platform and promote the use of AI tools for clinician assistance. As an example, in November 2023, Koninklijke Philips N.V., a technology firm based in the Netherlands, launched HealthSuite Imaging on Amazon Web Services (AWS) with the aim of migrating the next generation of PACS to the cloud and promoting AI-based tools to support clinicians. This cloud-based system, designed with the aim of aiding radiologists and clinicians in acquiring new capabilities rapidly, improving operational efficiency, and enhancing patient care. With the support of AWS, Philips intends to offer enhanced image access velocity, dependability, and data orchestration across the entire imaging workflow, from therapy to post-therapy follow-up. Furthermore, the partnership with AWS is set to promote AI usage in healthcare, utilizing Amazon Bedrock's foundational models to facilitate quicker and more accurate diagnoses and automate administrative responsibilities.
What Are the Main Segments in the Specialty PACS Market?
The specialty PACS market covered in this report is segmented -
1) By Type: Radiology PACS, Cardiology PACS, Pathology PACS, Ophthalmology PACS, Orthopedics PACS, Oncology PACS, Dermatology PACS, Neurology PACS, Endoscopy PACS, Women's Health PACS
2) By Deployment Model: On-Premise, Cloud-Based
3) By End-User: Hospitals, Ambulatory Surgery Centers And Clinics, Diagnostic Imaging Centers
Subsegments:
1) By Radiology PACS: Diagnostic Imaging PACS, Workflow Management PACS
2) By Cardiology PACS: Cardiac Imaging PACS, Electrocardiogram (ECG) PACS
3) By Pathology PACS: Digital Pathology PACS, Anatomic Pathology PACS
4) By Ophthalmology PACS: Retinal Imaging PACS, Optical Coherence Tomography (OCT) PACS
5) By Orthopedics PACS: Musculoskeletal Imaging PACS, Surgical PACS
6) By Oncology PACS: Radiation Therapy PACS, Oncology Imaging PACS
7) By Dermatology PACS: Skin Imaging PACS, Teledermatology PACS
8) By Neurology PACS: Neuroimaging PACS, EEG and EMG PACS
9) By Endoscopy PACS: Gastrointestinal Endoscopy PACS, Bronchoscopy PACS
10) By Women's Health PACS: Mammography PACS, Obstetric And Gynecological Imaging PACS
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Which Top Companies are Driving Growth in the Specialty PACS Market?
Major companies operating in the specialty PACS market are McKesson Corporation, Siemens AG, International Business Machines Corporation, Oracle Corporation, Canon Inc., Fujifilm Holdings Corporation, Koninklijke Philips N.V., Topcon Corporation, Neusoft Medical Systems Co. Ltd., Carestream Health Inc., Onex Corporation, Agfa HealthCare NV, Hitachi Healthcare Systems Inc., Sectra AB, Intelerad Medical Systems Inc., INFINITT Healthcare Co. Ltd., NantHealth Inc., Advanced Data Systems Inc., Mach7 Technologies Ltd., Novarad Corporation, Telemis S.A., Escalon Medical Corp., Sonomed Escalon Solutions Inc., EyePACS LLC, Visbion Limited
Which Regions Will Dominate the Specialty PACS Market Through 2029?
North America was the largest region in the specialty PACS market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the specialty PACS market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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