Rockville , Feb. 01, 2024 (GLOBE NEWSWIRE) -- The global picture archiving and communication system market is estimated to reach US$ 3 billion in 2024 and expand at a CAGR of 6.1% during the forecast period (2024 to 2034). This market expansion can be ascribed to the growing demand for more convenient access to medical pictures and data, improved diagnostic capabilities, and the increasing incidence of chronic illnesses worldwide.
Picture archiving and communication systems (PACSs) are in great demand as healthcare organizations move more and more from analog film-based systems to digital platforms. PACS makes it easier to store, retrieve, and share medical pictures, which promotes smooth communication between medical staff and enhances patient care.
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The picture archiving and communication system market is growing as a key player and changing the landscape of medical imaging and data management in a world where the healthcare sector is expanding significantly. Demand for integrated healthcare solutions, technological advancements, and the growing emphasis on efficient data management in the healthcare sector have all contributed to the growth of the global PACS market in recent years.
| Report Attribute | Details |
| Value Projection (2034) | US$ 5.9 Billion |
| Growth Rate (2024-2034) | 6.1% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 80 Tables |
| No. of Figures | 219 Figures |
Key Takeaways from Market Study
- The global picture archiving and communication system market is forecasted to expand at a CAGR of 6.1% from 2024 to 2034.
- Demand for picture archiving and communication systems is projected to reach a market value of US$ 5.9 billion by the end of 2034.
- North America is projected to account for 25.8% of the global market share in 2024.
- The market in East Asia is forecasted to expand at an impressive CAGR of 8% through 2034.
- The workstation & archive component segment is projected to expand at a CAGR of 6.3% over the forecast period.
- Based on business mode, the enterprise segment is estimated to account for 63.1% of the market share in 2024.
“Due to continuous advancements in technology, a move toward digitalization, and an emphasis on interoperability, picture archiving and communication systems are positioned to play a key role in improving patient care and fostering innovation in the medical field,” says Fact.MR analyst.
Key Companies Profiled in This Report:
- Advanced Data Systems
- Agfa-Gevaert N.V.
- Telerad Tech Private Limited
- Virtual Radiology (vRAD)
- Allscripts Healthcare Solutions Inc.
- ALTA VISTA TELERADIOLOGY
- Argus Radiology
- GE Healthcare
- Global Diagnostics
- Infinitt Healthcare
- Konica Minolta Healthcare Americas Inc.
- McKesson Corporation, Inc.
- ONRAD Inc.
- Avreo Inc.
- Others
Increasing Implementation of Digitalization in Healthcare
Picture archiving and communication systems are in high demand as healthcare facilities throughout the world move from film-based imaging systems to digital platforms. This change signifies a significant advancement in medical imaging and data management accessibility, effectiveness, and overall management. The digital revolution in healthcare is causing a paradigm shift in the way medical practitioners communicate and make decisions by streamlining the storage and retrieval of enormous volumes of patient data.
With the introduction of digital technology, the healthcare sector has become more interconnected. PACS is essential to maintaining smooth communication between different stakeholders, such as radiologists, clinicians, and experts. PACS facilitates advanced analytics and artificial intelligence (AI) applications in addition to acting as a repository for medical pictures in this digital age.
Combination of PACS with digital transformation enhances diagnostic capabilities and makes predictive analytics possible, opening the door to individualized and focused treatment plans. The wave of digital transformation is driving an increasing demand for interoperability, which emphasizes the importance of PACS in the contemporary healthcare environment.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the picture archiving and communication system market for 2018 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on business mode (enterprise, departmental), deployment (web-based PACS, cloud-based PACS, on-premise), component (imaging modalities, secured networks, workstations & archives), and end user (hospitals, clinic imaging, dental practices, imaging centers, diagnostic centers, research & academic institutes, ambulatory surgical centers, others), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).
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Country-wise Insights
Why is the United States Increasingly Adopting PACS?
“Sophisticated and Cutting-edge Healthcare Infrastructure”
The healthcare system in the United States exhibits advanced technological development, with widespread acceptance of digital health solutions. The innovation-driven environment within the U.S. healthcare ecosystem is evident in the swift adoption of cutting-edge tools to enhance patient care and streamline medical procedures. The federal government actively promotes the digitization of healthcare through various programs and laws. Healthcare providers are incentivized to incorporate and leverage Picture Archiving and Communication System (PACS) solutions, demonstrating their commitment to improving patient outcomes and overall healthcare efficiency.
The demand for PACS is influenced by the regulatory landscape, particularly compliance with the Health Insurance Portability and Accountability Act (HIPAA), emphasizing the necessity for secure and efficient digital imaging systems. In the United States, medical imaging is increasingly crucial for precise diagnosis and treatment planning, driven by the aging population and the escalating prevalence of chronic diseases.
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About Fact.MR:
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