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North America PACS and RIS Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Product, Component, Deployment, End User

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    Report

  • May 2021
  • Region: North America
  • The Insight Partners
  • ID: 4847168
UP TO OFF until Mar 31st 2024
The PACS (Picture Archiving and Communication System) and RIS (Radiology Information System) market in North America is expected to grow from US$ 1,152.7 million in 2019 to US$ 2,243.7 million by 2027; it is estimated to grow at a CAGR of 8.6% from 2020 to 2027. PACS during the previous years were expensive; also, the software has evolved significantly during recent years. The PACS systems available are mostly cloud-based, enabling flexible access to images. Also, cloud-based PACS have various copies of your data stored, which are also prevented by unethical attacks. Also, modern PACS are available at a much affordable price as compared to its older versions. Pricing highly varies based on various parameters such as volume or studies, size of the practice, and particular integrations needed. However, an on-site PACS 1,000 studies a month costs not less than US$ 10,000 with annual maintenance as well as support fees of $2,000.

However, a cloud-based PACS would cost more compared to on-site one. Ideally, the price of the software is almost $1,500 per month, excluding the initial setup and an internet capable viewing station or personal computer. Five years of cloud and support for a practice of this size costs approximately $90,000. However, during recent years, the cost of a terabyte of disk storage, capable of storing about 10,000 MRI studies was around $1,240 during the year 2006, however, at present, the storage costs have reduced to almost $20. The availability of PACS at an affordable rate as compared to the previous versions is expected to fuel the growth of the PACS and RIS market.

The North America PACS and RIS market is segmented into product, component, deployment, and end user. Based on product, the market is segmented into Picture Archive and Communication System (PACS) and Radiology Information System (RIS). In 2019, the picture archive and communication system (PACS) segment accounted for the largest share of the PACS and RIS market by product. The growth of the market for this segment is attributed to the as the solution offers benefits such as improved viewing and analysis, easy access to images and other reports, efficient data management, and a user-friendly interface. A growing number of product introductions and approvals are estimated to offer a lucrative opportunity for market growth. Moreover, the market for the picture archive and communication system (PACS) segment is estimated to grow at the highest CAGR during the forecast period.

The demand for PACS and RIS has increased in hospitals due to COVID-19 as the fast and easily accessible patient imaging is crucial in treatment of COVID-19 sufferers. This has resulted in increased demand for picture archiving and communication systems (PACS), which, in turn secure the growth and sustainability in this market. In April, the US Food and Drug Administration (FDA) has approved Intelerad’s InteleConnect EV solution for diagnostic imaging review on a range of mobile devices. This approval comes at a critical time for healthcare systems and ensures that radiologists can collaborate and leverage resources in more creative ways, even when workstation access is not available. It is also approved for mobile diagnostic image review and can immediately be used on various iPad and iPhone models, with additional devices on the horizon. All the aforementioned factors are expected to bring positive prospects for PACS and RIS market during this pandemic.

The overall North America PACS and RIS market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the North America PACS and RIS market with respects to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the North America PACS and RIS market. Agfa-Gevaert Group; INFINITT Healthcare Co., Ltd.; McKesson Corporation; Cerner Corporation; General Electric Company; Koninklijke Philips N.V.; FUJIFILM Holdings Corporation; Siemens AG; IBM; and Novarad are among a few players operating in the North America PACS and RIS market.

Reasons to Buy
  • To understand the North America PACS and RIS Market landscape and identify market segments that are most likely to guarantee a strong return
  • Stay ahead of the race by comprehending the ever-changing competitive landscape for North America PACS and RIS Market
  • Efficiently plan North America and partnership deals in North America PACS and RIS Market by identifying market segments with the most promising probable sales
  • Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America PACS and RIS Market
  • Obtain market revenue forecast for market by various segments from 2021-2028 in North America region.

Table of Contents

1. Introduction
1.1 Scope of the Study
1.2 Research Report Guidance
1.3 Market Segmentation
1.3.1 PACS and RIS Market - By Product
1.3.2 PACS and RIS Market - By Component
1.3.3 PACS and RIS Market - By Deployment
1.3.4 PACS and RIS Market - By End User
1.3.5 North America PACS and RIS Market - By Country
2. North America PACS and RIS Market - Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America PACS and RIS Market - Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 PACS and RIS Market- North America PEST Analysis
4.3 Expert Opinion
5. North America PACS and RIS Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Developments in Diagnostic Imaging Modalities Coupled with Rising Number of Diagnostic Tests Procedures
5.1.2 Affordable Price of New Generation PACS Software
5.2 Market Restraints
5.2.1 Availability of Better Substitutes
5.2.2 Concerns Regarding Data Privacy
5.3 Market Opportunities
5.3.1 Increasing Demand for Orthopaedic PACS
5.4 Market Trends
5.4.1 Technology Advancement and New Product Launches
5.5 Impact Analysis
6. PACS and RIS Market - North America Analysis
6.1 North America PACS and RIS Market Revenue Forecasts and Analysis
7. North America PACS and RIS Market Analysis and Forecasts To 2027 - By Product
7.1 Overview
7.2 North America PACS and RIS Market, By Product, 2019 & 2027 (% Share)
7.3 Picture Archive and Communication System (PACS) Market
7.3.1 Overview
7.3.2 North America Picture Archive and Communication System (PACS) Market Revenue and Forecasts to 2027(US$ Mn)
7.4 Radiology Information System (RIS) Market
7.4.1 Overview
7.4.2 North America Radiology Information System (RIS) Market Revenue and Forecasts to 2027 (US$ Mn)
8. North America PACS and RIS Market Analysis and Forecasts To 2027 - By Component
8.1 Overview
8.2 North America PACS and RIS Market, By Component, 2019 & 2027 (% Share)
8.3 Software Market
8.3.1 Overview
8.3.2 North America Software Market Revenue and Forecasts to 2027 (US$ Mn)
8.4 Hardware Market
8.4.1 Overview
8.4.2 North America Hardware Market Revenue and Forecasts to 2027 (US$ Mn)
8.5 Services Market
8.5.1 Overview
8.5.2 North America Services Market Revenue and Forecasts to 2027 (US$ Mn)
9. North America PACS and RIS Market Analysis and Forecasts To 2027 - By Deployment
9.1 Overview
9.2 North America PACS and RIS Market, By Deployment 2019 & 2027 (% Share)
9.3 Web-Based Market
9.3.1 Overview
9.3.2 North America Web-Based Market Revenue and Forecasts to 2027 (US$ Mn)
9.4 On-Premise Market
9.4.1 Overview
9.4.2 North America On-Premise Market Revenue and Forecasts to 2027 (US$ Mn)
9.5 Cloud-Based Market
9.5.1 Overview
9.5.2 North America Cloud-Based Market Revenue and Forecasts to 2027 (US$ Mn)
10. North America PACS and RIS Market Analysis and Forecasts to 2027- By End User
10.1 Overview
10.2 North America PACS and RIS Market, By End User, 2019 & 2027 (% Share)
10.3 Hospitals Market
10.3.1 Overview
10.3.2 North America Hospitals Market Revenue and Forecasts to 2027 (US$ Mn)
10.4 Diagnostic Centers Market
10.4.1 Overview
10.4.2 North America Diagnostic Centers Market Revenue and Forecasts to 2027 (US$ Mn)
10.5 Others Market
10.5.1 Overview
10.5.2 North America Others Market Revenue and Forecasts to 2027 (US$ Mn)
11. PACS and RIS Market Revenue and Forecasts to 2027 - Geographical Analysis
11.1 North America PACS and RIS Market Revenue And Forecasts To 2027
11.1.1 North America PACS and RIS Market Revenue and Forecasts to 2027, By Country (%)
11.1.2 US PACS and RIS Market Revenue and Forecasts to 2027 (US$ Mn)
11.1.2.1 US PACS and RIS Market Revenue and Forecasts to 2027 (US$ Mn)
11.1.2.2 US PACS and RIS Market Revenue And Forecasts to 2027, By Product (US$ Mn)
11.1.2.3 US America PACS and RIS Market Revenue And Forecasts to 2027, By Component (US$ Mn)
11.1.2.4 US PACS and RIS Market Revenue And Forecasts to 2027, By Deployment (US$ Mn)
11.1.2.5 US PACS and RIS Market Revenue And Forecasts to 2027, By End User (US$ Mn)
11.1.3 Canada PACS and RIS Market Revenue and Forecasts to 2027 (US$ Mn)
11.1.3.1 Canada PACS and RIS Market Revenue and Forecasts to 2027 (US$ Mn)
11.1.3.2 Canada PACS and RIS Market Revenue And Forecasts to 2027, By Product (US$ Mn)
11.1.3.3 Canada PACS and RIS Market Revenue And Forecasts to 2027, By Component (US$ Mn)
11.1.3.4 Canada PACS and RIS Market Revenue And Forecasts to 2027, By Deployment (US$ Mn)
11.1.3.5 Canada PACS and RIS Market Revenue And Forecasts to 2027, By End User (US$ Mn)
11.1.4 Mexico PACS and RIS Market Revenue and Forecasts to 2027 (US$ Mn)
11.1.4.1 Mexico PACS and RIS Market Revenue and Forecasts to 2027 (US$ Mn)
11.1.4.2 Mexico PACS and RIS Market Revenue And Forecasts to 2027, By Product (US$ Mn)
11.1.4.3 Mexico PACS and RIS Market Revenue And Forecasts to 2027, By Component (US$ Mn)
11.1.4.4 Mexico PACS and RIS Market Revenue And Forecasts to 2027, By Deployment (US$ Mn)
11.1.4.5 Mexico PACS and RIS Market Revenue And Forecasts to 2027, By End User (US$ Mn)
12. Impact Of COVID-19 Pandemic on North America PACS and RIS Market
12.1 North America: Impact Assessment of COVID-19 Pandemic
13. Industry Landscape
13.1 Overview
13.2 Inorganic Growth Strategies
13.2.1 Overview
13.3 Inorganic Growth Strategies in the PACS and RIS Market, 2017-2020 (%)
13.3.1 Collaborations
13.3.1.1 Recent Collaborations By Players In The PACS and RIS Market
13.3.2 Agreements, Partnerships and Joint Ventures
13.3.2.1 Recent Agreements, Partnerships And Joint Ventures By Players In The PACS and RIS Market
13.3.3 Acquisitions
13.3.3.1 Recent Acquisitions By Players In The PACS and RIS Market
13.4 Organic Growth Strategies
13.4.1 Overview
13.5 Organic Growth Strategies in the PACS and RIS Market, 2017-2020 (%)
13.5.1 Product Launches
13.5.1.1 Recent Product Launches By Players In The PACS and RIS Market
13.5.2 Product Approval & Other Organic Growth Strategies
13.5.2.1 Recent Product Approval & Other Organic Growth Strategies By Players In The PACS and RIS Market
14. COMPANY PROFILES
14.1 Agfa-Gevaert Group
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Financial Overview
14.1.4 Product Portfolio
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 INFINITT Healthcare Co., Ltd.
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Financial Overview
14.2.4 Product Portfolio
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 McKesson Corporation
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Financial Overview
14.3.4 Product Portfolio
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 Cerner Corporation
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Financial Overview
14.4.4 Product Portfolio
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 General Electric Company
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Financial Overview
14.5.4 Product Portfolio
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 Koninklijke Philips N.V.
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Financial Overview
14.6.4 Product Portfolio
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 FUJIFILM Holdings Corporation
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Financial Overview
14.7.4 Product Portfolio
14.7.5 SWOT Analysis
14.7.6 Key Developments
14.8 Siemens AG
14.8.1 Key Facts
14.8.2 Business Description
14.8.3 Financial Overview
14.8.4 Product Portfolio
14.8.5 SWOT Analysis
14.8.6 Key Developments
14.9 IBM
14.9.1 Key Facts
14.9.2 Business Description
14.9.3 Financial Overview
14.9.4 Product Portfolio
14.9.5 SWOT Analysis
14.9.6 Key Developments
14.10 Novarad
14.10.1 Key Facts
14.10.2 Business Description
14.10.3 Financial Overview
14.10.4 Product Portfolio
14.10.5 SWOT Analysis
14.10.6 Key Developments
15. Appendix
15.1 About the Publisher
15.2 Glossary of Terms
List of Tables
Table 1. US PACS and RIS Market Revenue and Forecasts to 2027, By Product (US$ Mn)
Table 2. US PACS and RIS Market Revenue and Forecasts to 2027, By Component (US$ Mn)
Table 3. US PACS and RIS Market Revenue and Forecasts to 2027, By Deployment (US$ Mn)
Table 4. US PACS and RIS Market Revenue and Forecasts to 2027, By End User (US$ Mn)
Table 5. Canada PACS and RIS Market Revenue and Forecasts to 2027, By Product (US$ Mn)
Table 6. Canada PACS and RIS Market Revenue and Forecasts to 2027, By Component (US$ Mn)
Table 7. Canada PACS and RIS Market Revenue and Forecasts to 2027, By Deployment (US$ Mn)
Table 8. Canada PACS and RIS Market Revenue and Forecasts to 2027, By End User (US$ Mn)
Table 9. Mexico PACS and RIS Market Revenue and Forecasts to 2027, By Product (US$ Mn)
Table 10. Mexico PACS and RIS Market Revenue and Forecasts to 2027, By Component (US$ Mn)
Table 11. Mexico PACS and RIS Market Revenue and Forecasts to 2027, By Deployment (US$ Mn)
Table 12. Mexico PACS and RIS Market Revenue and Forecasts to 2027, By End User (US$ Mn)
Table 13. Recent Collaborations by Players in The PACS and RIS Market
Table 14. Recent Agreements, Partnerships and Joint Ventures by Players in The PACS and RIS Market
Table 15. Recent Acquisitions by Players in The PACS and RIS Market
Table 16. Recent Product Launches in the PACS and RIS Market
Table 17. Recent Product Approval & Other Organic Growth Strategies in the PACS and RIS Market
Table 18. Glossary of Terms, PACS and RIS Market
List of Figures
Figure 1. PACS and RIS Market Segmentation
Figure 2. North America PACS and RIS Market Overview
Figure 3. Picture Archive and Communication System (PACS) Segment Held Largest Share of Product in PACS and RIS Market
Figure 4. Software Segment Held Largest Share of Component in PACS and RIS Market
Figure 5. US is Expected to Show Remarkable Growth During the Forecast Period
Figure 6. PACS and RIS Market - North America PEST Analysis
Figure 7. PACS and RIS Market Impact Analysis of Driver and Restraints
Figure 8. North America PACS and RIS Market - Revenue Forecasts and Analysis - 2019- 2027
Figure 9. North America PACS and RIS Market, by Product, 2019 & 2027 (% Share)
Figure 10. North America Picture Archive and Communication System (PACS) Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 11. North America Radiology Information System (RIS) Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 12. North America PACS and RIS Market, by Component, 2019 & 2027 ((% Share)
Figure 13. North America Software Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 14. North America Hardware Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 15. North America Services Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 16. North America PACS and RIS Market, By Deployment, 2019 & 2027 (% Share)
Figure 17. North America Web-Based Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 18. North America On-Premise Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 19. North America Cloud-Based Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 20. North America PACS and RIS Market, By End User, 2019 & 2027 (% Share)
Figure 21. North America Hospitals Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 22. North America Diagnostic Centers Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 23. North America Others Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 24. North America PACS and RIS Market Revenue Overview, by Country, 2018 (US$ Mn)
Figure 25. North America PACS and RIS Market Revenue and Forecasts to 2027, By Country (%)
Figure 26. US PACS and RIS Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 27. Canada PACS and RIS Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 28. Mexico PACS and RIS Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 29. Impact of COVID-19 Pandemic in North American Country Markets
Figure 30. Growth Strategies Done by the Companies in the Market, (%)
Figure 31. Inorganic Developments in the PACS and RIS Market, 2017-2020 (%)
Figure 32. Organic Growth Strategies in the PACS and RIS Market, 2017-2020 (%)

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Agfa-Gevaert Group
  • INFINITT Healthcare Co., Ltd.
  • McKesson Corporation
  • Cerner Corporation
  • General Electric Company
  • Koninklijke Philips N.V.
  • FUJIFILM Holdings Corporation
  • Siemens AG
  • IBM
  • Novarad

Table Information