Picture Archiving and Communication Systems (PACS) Market report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the Picture Archiving and Communication Systems (PACS) Market by region.
The global Picture Archiving and Communication Systems (PACS) Market is anticipated to exceed USD 3 billion by 2026. In 2017, the cloud-based segment dominated the global market, in terms of revenue. North America is expected to be the leading contributor to the global market in 2017.
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Research Methodology
There were five stages to the research study on the Picture Archiving and Communication Systems (PACS) market: secondary research, primary research, subject matter expert guidance, quality check, and final review.
Statistical and cogent models for the market were used to assess and forecast the market data. Additionally, market shares and important trends were taken into account when creating the study. The Market Time Line Analysis, Vendor Positioning Grid, Market Overview and Guide, Company Market Share Analysis, Company Positioning Grid, Standards of Measurement, Top to Bottom Analysis, and Vendor Share Analysis are additional data models that can use.
The report combines in-depth quantitative analysis with exhaustive qualitative analysis, ranging from a macro-overview of the overall market size, industry chain, and market dynamics to micro details of segment markets by type, application, and region. As a result, the report offers a comprehensive view of the Picture Archiving and Communication Systems (PACS) market that addresses all of its key facets. These market hypotheses are supported by data that comes from both primary and secondary research.
Market Overview
The comprehensive analyses of the most recent trends, growth prospects, and market growth drivers are offered to readers of the global market research reports. The COVID-19 effects on the Picture Archiving and Communication Systems (PACS) market are also discussed in detail in the research, along with the market’s predicted compound annual growth rate (CAGR) from 2022 to 2030.
The research also provides a market analysis using various analytical techniques, including Porter’s Five Forces Analysis and PESTEL Analysis. These tools provide an in-depth analysis of the micro- and macro-environmental elements that influence the market’s expansion during the forecast period.
Picture archiving and communications systems (PACS) is a term used for clinical or medical imaging technologies that allow exchange and storage of images across multiple sources. Such system provides cost-effective and manageable access to stored images via several source modalities such as PET (positron emission tomography), X-ray plain film, ultrasound, CT (computed tomography), nuclear medicine, and MRI (magnetic resonance imaging).
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The PACS market includes several opportunities that continue to develop with the advancement of healthcare practices. Thus, the development of scalable and interoperable PACS is a significant opportunity for the PACS market. Increasing demand for the digital medical records with patient images, and impart this information to health exchange platforms, is expected to mark the significant market growth of PACS market during the forecast period the forecast period. The cloud-based system is a relatively new concept, and is estimated to grow continuously at a constant during the forecast period. However, the global Picture Archiving and Communication Systems (PACS) Market also face several challenges relating to effective yet secure integration and transmission of medical images and patient data between radiologists and other medical specialists.
In 2020, the COVID-19 epidemic had a negative impact on ICT investment. The traditional hardware market took a hit as a result of the COVID-19 outbreak. On the other hand, traditional software is a huge contributor to productivity and is a big benefactor of ICT spending. Cloud computing and mobile devices are emerging as new platforms for delivering the most up-to-date software tools and applications.
Geographically, the existence of several PACS manufacturing corporations in North America is anticipated to play a vital role for cloud-based PACS segment in the North American PACS market. Moreover, Cloud-based PACS segment is estimated to witness healthy growth in European and Asia Pacific Market due to the increased usage of cloud-based PACS majorly in diagnostic centers and large hospitals in these regions.
The leading companies profiled in the Picture Archiving and Communication Systems (PACS) Market report include FUJIFILM Medical Systems, Carestream Health, Agfa-Gevaert Group, INFINITT Healthcare Co. Ltd., Merge Healthcare Solutions Inc., Mckesson Corp., GE Healthcare, Koninklijke Philips N.V., Sectra AB and Siemens Healthineers. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
What is the goal of the report?
- The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes.
- During the forecast period, the report analyzes the growth rate, market size, and market valuation.
- The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
- The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.
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