Dublin, May 15, 2024 (GLOBE NEWSWIRE) -- The "Vendor-Neutral Archive (VNA) & Picture Archiving and Communication System (PACS) Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The global vendor-neutral archive (VNA) & picture archiving and communication system (PACS) market has grown strongly in recent years. It will grow from $3.92 billion in 2023 to $4.19 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth observed in the historical period can be ascribed to several factors, including the escalating volume of medical imaging data, government initiatives promoting the adoption of healthcare IT, a demand for streamlined workflows in the healthcare sector, an increasing emphasis on interoperability, the necessity for long-term data archiving, and a rise in diagnostic imaging procedures.
The VNA & PACS market is expected to see strong growth in the next few years. It will grow to $5.36 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The anticipated growth in the forecast period can be linked to the sustained expansion of medical imaging data, a worldwide initiative promoting healthcare data interoperability, heightened attention to data security, emerging trends in telemedicine and remote diagnostics, integration with advanced analytics, a focal point on patient-centric healthcare, and government backing for healthcare IT infrastructure. Significant trends expected in the forecast period encompass the adoption of cloud-based vendor-neutral archives, an emphasis on interoperability and standardization, the integration of artificial intelligence for image analysis, an increase in mobile access and teleradiology solutions, and the implementation of vendor-neutral image-sharing networks.
The anticipated widespread adoption of electronic health records (EHRs) is expected to drive the growth of the vendor-neutral archive (VNA) and picture archiving and communication system (PACS) market. For example, reports from the Munich American Reassurance Company in June 2023 indicated a significant increase in EHR adoption, from 23% in 2020 to 61% in 2022. Consequently, the growing adoption of EHRs is poised to propel the vendor-neutral archive (VNA) and picture archiving and communication system (PACS) market.
The expected rise in infectious diseases is projected to contribute to the growth of the vendor-neutral archive (VNA) and PACS market. For instance, as of March 2023, the National Center for Biotechnology Information reported an increase in tuberculosis cases in the United States, with 8,300 cases in 2022 compared to 7,874 in 2021. The incidence of TB slightly rose to 2.5 per 100,000 persons in 2022, compared to 2.4 in 2021. Consequently, the growing prevalence of infectious diseases is a driving factor for the vendor-neutral archive (VNA) and PACS market.
The escalating number of data breaches is expected to impede the growth of the vendor-neutral archive (VNA) and picture archiving and communication system (PACS) market. For example, an IBM report in 2023 revealed that 83% of organizations experienced more than one data breach in 2022. Therefore, the increasing occurrences of data breaches are likely to negatively impact the growth of the vendor-neutral archive (VNA) and PACS market.
Leading companies in the vendor-neutral archive (VNA) and picture archiving and communication system (PACS) market are harnessing cutting-edge technologies such as artificial intelligence (AI) to enhance the productivity and accuracy of radiologists while making PACS more accessible and cost-effective. For example, in August 2021, GE HealthCare Technologies Inc., a US-based manufacturing company, introduced Edison True PACS, a cloud-based PACS system that seamlessly integrates with remote accessibility via the internet. Edison True PACS incorporates AI into its workflow, empowering radiologists to improve productivity and accuracy. This innovative solution is cost-effective and suitable for healthcare entities of varying scales. Radiologists can benefit from its adaptable design, allowing customization of workflows to meet precise requirements. Additionally, it features a web-based diagnostic viewer and a zero-footprint clinical viewer, facilitating remote reading. The system is equipped with advanced image processing and visualization tools, enabling the seamless integration of third-party AI algorithms from the Edison platform into workflows, eliminating the need for additional steps.
In September 2021, Intelerad Medical Systems Incorporated, a Canada-based medical system imaging management company, completed the acquisition of Insignia Medical Systems Ltd. for an undisclosed amount. This strategic move by Intelerad aims to expand its next-generation imaging solutions and resources, contributing to the modernization of hospital trusts across the UK and strengthening its customer support capabilities. Insignia Medical Systems Ltd., a UK-based developer of medical imaging technology, specializes in offering picture archiving and communication system (PACS) and vendor-neutral archive (VNA) services.
North America was the largest region in the vendor-neutral archive (VNA) & picture archiving and communication system (PACS) market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the vendor-neutral archive (VNA) & picture archiving and communication system (PACS) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the vendor-neutral archive (VNA) & picture archiving and communication system (PACS) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Report Scope
Markets Covered:
1) By Type: Picture Archiving And Communication System (PACS); Vendor-Neutral Archive (VNA) Software
2) By Imaging Modality: Angiography; Mammography; Computed Tomography; Magnetic Resonance Imaging; Ultrasound; Other Imaging Modalities.
3) By Mode Of Delivery: On-Site (Premise); Hybrid; Cloud-Hosted
4) By Usage Model: Single Department; Multiple Departments; Multiple Sites
5) By Vendors: Independent Vendors; Commercial Vendors
Key Companies Mentioned: McKesson Corporation; Dell Technologies Inc.; Siemens AG; General Electric ; International Business Machines Corporation (IBM)
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Key Attributes
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024-2028 |
| Estimated Market Value (USD) in 2024 | $4.19 Billion |
| Forecasted Market Value (USD) by 2028 | $5.36 Billion |
| Compound Annual Growth Rate | 6.4% |
| Regions Covered | Global |
A selection of companies mentioned in this report includes, but is not limited to:
- McKesson Corporation
- Dell Technologies Inc.
- Siemens AG
- General Electric
- International Business Machines Corporation (IBM)
- Hitachi Ltd.
- FUJIFILM Holdings Corporation
- Koninklijke Philips NV
- GE Healthcare
- Cerner Corporation
- Change Healthcare
- Lexmark International Inc.
- Agfa-Gevaert Group
- Carestream Health
- Hyland Software Inc.
- Acuo Technologies
- Merge Health
- Sectra AB
- Novarad Corporation
- INFINITT Healthcare Co. Ltd.
- Visage Imaging Inc.
- Birdgehead Software
- ScImage Inc.
- Agfa Healthcare NV
- Mach 7 Technologies Ltd.
- ASPYRA LLC
- TeraMedica Inc.
- Dejarnette Research Systems Inc.
- Dicom Systems Inc.
- InsiteOne Inc.
For more information about this report visit https://www.researchandmarkets.com/r/j4zmeg
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