PACS and RIS Market 2018- Leading edge technology with the very best in speed and reliability giving you the competitive edge

The global PACS and RIS market expected to be US$ 2,728.43 Mn in 2018 and is predicted to grow at a CAGR of 7.4% during the forecast period 2019 – 2027, to reach US$ 5,008.93 Mn by 2027.

The market for PACS and RIS is expected to grow, owing to factors such as developments in diagnostic imaging modalities coupled with the rising number of diagnostic tests procedures, affordable price of new generation PACS software and new product launches & FDA approvals. In addition, increasing demand for orthopaedic PACS likely to have a positive impact on the growth of the market in the coming years.

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The major players operating in the PACS and RIS market include, McKesson Corporation, General Electric, Fujifilm Holdings Corporation, Koninklijke Philips N.V., Siemens AG, Cerner Corporation, IBM, Novarad, Agfa-Gevaert Group, and INFINITT Healthcare Co., Ltd.

Europe is the second largest geographic market and is expected to be the second most significant revenue contributor throughout the forecast period. The region has witnessed several technological advancements in the field of healthcare by the incorporation of digital technology in order to increase the efficiency of healthcare facilities in the region. The growth is driven by factors such as government collaborations with technology providers, prevalence of cancer in the countries.

Global PACS and RIS market, based on the product, was segmented as, Picture archiving and communication system (PACS) and radiology information system (RIS). In 2018, PACS held the largest share of the market, by product. In addition, the segment is also anticipated to grow at a significant rate during the forecast period. The solution offers benefits such as improved viewing and analysis, easy access to images and other reports, efficient data management as well as a user-friendly interface, these factors are anticipated to lead to the growth of the segment during the forecast period.

The market has witnessed various organic as well as inorganic developments during recent years in the PACS and RIS market. During September 2018, Novarad Corporation entered into a contract with Brown University Health Services to provide PACS and RIS software. The solution offers enhanced control over study information as well as an increased capacity for care both inside as well as outside of the facility, especially while referring physicians. These properties have led to increased adoption of the solution among the customers.

Product Insights

The global PACS and RIS market by product was led by PACS segment. In 2018, the segment of held the largest market share in the PACS and RIS market, by product. The segment is also expected to witness growth at a significant rate during the forecast period, as the solution offers benefits such as improved viewing and analysis, easy access to images and other reports, efficient data management

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Posted by on Friday November 15 2019, 5:59 AM EST. All trademarks acknowledged. Filed under Biotechnology, Diagnostics, Healthcare, Life Sciences, Medical Devices, Pharmaceuticals. Comments and Trackbacks closed. Follow responses: RSS 2.0

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