Global Picture Archiving and Communication Systems (PACS) Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

Market is embracing advanced AI-driven image analysis to enhance diagnostic accuracy and streamline medical image management

• Picture Archiving and Communication Systems (PACS) is a comprehensive technology solution for medical image acquisition, storage, management, and delivery. PACS transformed the way radiological pictures are handled in hospitals, allowing for the move from traditional film-based systems to digital imaging.
• PACS comprises several critical components that improve patient care and streamline radiology operations. Imaging modalities (such as X-ray, CT, and MRI), a secure network architecture, a central archive server, image viewing and interpretation workstations, and interaction with Radiology Information Systems (RIS) and Electronic Health Records (EHRs) are among the components.
• PACS's major function is to store and manage digital medical images, which eliminates the need for physical film and allows for more efficient access and retrieval of images PACS is a central repository where images from many modalities are electronically stored, allowing healthcare providers secure and convenient access to patient data.
• Imaging modalities capture medical images and digitally send to the central archive server through the network in PACS. The images are stored on the server in a standardized format, such as DICOM (Digital Imaging and Communications in Medicine), which ensures compatibility with various imaging devices and software. Healthcare practitioners then use dedicated workstations or web-based viewers to access and view the photos. PACS workstations enable radiologists and clinicians to evaluate pictures and make diagnostic decisions by providing image editing, measurement, annotation, and comparison tools.
• PACS also allows healthcare workers to collaborate and communicate more effectively. Authorized personnel can securely communicate and access images, allowing for consultations, second opinions, and interdisciplinary collaboration. This improves diagnostic efficiency, accuracy, and the overall quality of patient treatment.
• PACS capabilities are enhanced further by integration with RIS and EHR systems. Integration with RIS enables radiological exam scheduling and tracking, ensuring that images are associated with the relevant patient and exam details. Integration with EHRs allows for quick access to images and radiology reports within the patient's full medical record, allowing for comprehensive patient care and continuity between healthcare providers.
• PACS provides numerous advantages to both healthcare organizations and patients. It improves operating efficiency by eliminating physical film storage requirements and lowering film processing and storage space expenses. It improves radiological exam productivity and turnaround time since images can be viewed and interpreted quickly. It also improves patient safety by lowering the possibility of misplaced or lost films.
• However, PACS implementation and management are difficult. These include the initial costs of hardware, software, and network infrastructure, data security and privacy concerns, and interoperability challenges with various systems and imaging equipment.

Market Segmentations

• The Global Picture Archiving and Communication Systems (PACS) Market is segmented based on End User, Applications, and Geography.
• By End User, the market is classified into Hospitals, Diagnostic Centers, and Others.
• The hospital segment accounted for the highest revenue in the market. These health organizations are currently making technological advances. Because of the increasing number of disease issues, Healthcare Cloud PACS is being widely used in hospitals. Furthermore, the growing need for early diagnosis is projected to drive demand for Cloud PACS in hospitals. In hospitals, technologically advanced gadgets are routinely used to provide improved patient care. These gadgets not only make treatment procedures easier, but they also aid in providing better, faster, and more accurate results.
• By Applications, the market is classified into Cardiology, Orthopedics, Ophthalmology, Oncology, and Veterinary Medicine.
• The radiology segment has emerged as the dominant application segment in the PACS market. Radiology departments typically generate many imaging studies, including X-rays, CT scans, MRI scans, and ultrasound images. PACS systems often offer integrated tools for image manipulation, measurement, annotation, and image comparison, aiding radiologists in their diagnostic process. These capabilities make PACS a vital component of radiology departments.
• By Geography, the market is classified into Americas, Europe, Middle East & Africa, and Asia-Pacific.
• Americas is expected to account for highest share of worldwide sales. The presence of important companies in the region and high investment in health care expenditure can contribute to market growth. Furthermore, technological improvements and rising disposable income are likely to fuel market expansion over the predicted period. Over the projection period, the European market is expected to increase at a stable rate. The Asia Pacific market is expected to develop at the quickest CAGR during the forecast period due to the continuous improvement of healthcare infrastructure.

Recent Development

• OMNY Health partnered with community-based ophthalmology practices to launch a real-world data ecosystem focused on driving collaborative research partnerships to advance treatments and improve outcomes for patients with ophthalmic disorders. - May 2022
• ZEISS Medical Technology's product, QUATERA 700, a revolution in phaco technology, received FDA approval. The ZEISS QUATERA 700 is designed to increase a surgeon's workflow efficiency from the clinic to the operating room (OR), enabling a digitally integrated surgical workflow. - April 2022

Company Profiles

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Luxemburg, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle-East and Africa (Egypt, Israel, Qatar, Nigeria, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

Ansoff Analysis

• The report presents a detailed Ansoff matrix analysis for the Global Picture Archiving and Communication Systems (PACS) Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development, and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
• The publisher analyses the Global Picture Archiving and Communication Systems (PACS) Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
• Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.

Why buy this report?

• ● The report offers a comprehensive evaluation of the Global Picture Archiving and Communication Systems (PACS) Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• ● The research report also provides a detailed market size analysis and projections in volume and value terms. The projections are calculated using verified research methodologies.
• ● Excel data sheet for the market size will also be provided with the report.
• ● The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• ● The report includes an in-depth market analysis using Porter’s 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
• ● The report includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• ● The report includes Self-Assessment Form, which helps customers evaluate their position in the market compared to their competitors
• ● The report offers customized research - tailored uniquely to our customers with a quick turnaround time. We offer a 15% customization option at no extra charge to all our clients for any of our syndicated reports.

Report Highlights:

• ● A complete analysis of the market, including the parent industry
• ● Important market dynamics and trends
• ● Impact Analysis - a comprehensive assessment to confront risk and make strategic & operational decisions to counter the changes in the market environment.
• ● Market segmentation
• ● Competitive Analysis: Comparative analysis of competitor
• ● Historical, current, and projected size of the market based on value and volume
• ● Market size of the US states
• ● Market shares and strategies of key players
• ● Recommendations to companies for strengthening their foothold in the market