LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global picture archiving and communication system market is expected to grow at a CAGR of close to 6% during the forecast period.
This research report titled ‘Global Picture Archiving and Communication System (PACS) Market’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
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The market research analysis categorizes the global PACS market into three major product segments. They are:
- Global mini PACS market
- Global mid-end PACS
- Global enterprise PACS market
Global mini PACS market
The global mini PACS market is expected to grow at a steady pace due to the increase in adoption rate. In most developed countries, small hospitals are being acquired by large medical facilities. These small hospitals have limited infrastructure and investment in PACS help in their development as reference laboratories. The rise in adoption of mini PACS in emerging markets is due to the rise in the number of small hospitals and government initiatives toward centralized healthcare IT systems.
According to Srinivas Sashidhar, a lead analyst at Technavio for medical imaging research, “The Americas has recorded increased installations of mini PACS in the recent years. However, it is expected that during the forecast period APAC would lead the global mini PACS market. Cost reduction by vendors would increase the affordability of these PACS in the emerging markets of APAC and EMEA.”
Global mid-end PACS
The global mid-end PACS market is expected to grow at a rapid pace, due to increase in adoption rate and growing demand for integrated teleradiology network. The improvement in the healthcare IT sector has triggered the installation of integrated systems. Mid-end PACS helps in connecting multi-modality departments and small hospitals, which helps in the enhancement of patient care. Hospitals with 250-500 beds and department specific diagnostic centers are the primary end-users of mid-end PACS. These medical facilities have a sound infrastructure with moderate patient inflow in both emerging and developed markets.
Global enterprise PACS market
The global enterprise PACS market is expected to grow at a steady pace due to a moderate rise in adoption rate. The change in the healthcare IT sector triggers the installation of integrated systems. PACS radiology helps in connecting multi-modality departments and hospitals, which, in turn, helps in the enhancement of patient care. The adoption rate is expected to increase during the forecast period with the reduction in cost by vendors.
“Cloud-based applications are beneficial in collating medical imaging data in enterprise PACS. These PACSs help in connecting one medical facility to another. The huge inflow of data is controlled by these PACSs, allowing data sharing and management,” says Srinivas.
The top vendors highlighted by Technavio’s healthcare and life sciences market research analysts in this report are:
- GE Healthcare
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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