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PACS and RIS Market: Trends and Opportunities for the Industry by 2024

09-18-2017 08:55 AM CET | Health & Medicine

Press release from: Transparency Market Research

PACS and RIS Market

PACS and RIS Market

The opportunity in the global PACS and RIS market stood at US$2.2 bn in 2015 and, rising at a 7.0% CAGR during the forecast period, is estimated to be worth US$3.9 bn by 2024.

Based on product type, PACS held the majority in the global PACS and RIS market, accounting for a whopping share of over 82% in 2015. This segment is projected to register a 7.2% CAGR from 2016 to 2024, emerging as one of the most promising product segments by the end of the forecast period.

By end user, hospitals led the PACS and RIS market in terms of revenue. On the other hand, ambulatory surgical centers are anticipated to report a CAGR higher than any other end-use segment by 2024. On the basis of component, the services segment dominates the PACS and RIS market and is also projected to register a high growth rate during the course of the forecast period.

By deployment, web-based PACS and RIS held the leading share in the overall market, with cloud-based systems presenting the most lucrative options for players.

Geographically, North America accounted for a leading share of just under 47% in the global PACS and RIS market in 2015. However, the market in Asia Pacific is anticipated to expand at a high CAGR of 8.4% during the forecast period.

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“The importance and benefits of healthcare IT have been recognized with several governments around the world, spurring technological advancements in the field,” the lead analyst states. The usage of PACS and RIS for the accurate and detailed evaluation of patient’s health has increased as a result of this. An example of favorable government intervention would be the U.S. Government, which encourages the adoption of healthcare IT products such as RIS-PACS and hospital information systems (HIS) to maintain electronic health records (EHR).

The rising adoption of EHR systems in hospital as well as office-based practices has also increased in recent times, further driving the demand for PACS and RIS. These systems allow medical images to be saved electronically and ensures the effective and easy accessibility of the images to caregivers.

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The picture archiving and communication system (PACS) and radiology information system (RIS) market is extremely consolidated, with the top five companies accounting for a share of over 61% in 2015. Transparency Market Research finds that GE Healthcare, Philips Healthcare, McKesson Corporation, Fujifilm Holdings Corporation, and Siemens Healthineers have significantly contributed to the global market over the years by providing an extra advantage to customers at a reasonable price.

Global PACS and RIS Market Report is available @ US$ 5795 : http://www.transparencymarketresearch.com/checkout.php?rep_id=1232

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

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