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Meticulous Research®– leading global market research company published a research report titled “VNA Market and PACS Market by Procurement (Departmental and Enterprise), Delivery (On Premise, Hybrid, Cloud Based), Vendor (PACS, Independent Software, Infrastructure), and End User (Hospitals, Diagnostic Imaging Centers) – Global Forecast to 2027”.
According to this latest publication from Meticulous Research, the VNA & PACS market is expected to grow at a CAGR of 6.7% from 2020 to reach $4.89 billion by 2027. Increasing investments in the medical imaging market, technological advancements in diagnostic imaging modalities, rising geriatric imaging volumes, growing healthcare IT and EHR adoption, and rapid growth of big data analytics in the healthcare market are the key factors driving the growth of this market. Also, the penetration of AI in medical imaging and integration of PACS/VNA with EMR and hybrid & cloud-based solutions are providing significant growth opportunities for players operating in the VNA & PACS market. However, factors such as data migration and lack of interoperability are hindering the growth of this market.
The global VNA & PACS market study presents historical market data in terms of values (2018 and 2019), estimated current data (2020), and forecasts for 2027 by procurement model, delivery model, vendor type, end user, and geography. The study also evaluates industry competitors and analyzes the market at a regional and country level.
Based on PACS procurement model, the departmental PACS segment is estimated to account for the largest share of the overall PACS market in 2020. However, the increasing amount of data in various departments result in fragmented data, which is difficult to use for effective patient care. This, in turn, is leading to greater adoption of enterprise PACS, thus expecting the market to grow at the fastest CAGR during the forecast period.
Based on VNA procurement model, the enterprise VNAs segment is projected to dominate the overall VNA market in 2020. Factors such as patient-centered approach & industry consolidation, move towards enterprise imaging, and the ability of VNA to share data among multiple PACS within the same organization allowing better integration, viewing, and storage of different health IT systems regardless of vendor restrictions makes enterprise VNA a preferred option for several large healthcare organizations.
Based on end user, the VNA & PACS market is broadly segmented into hospitals, diagnostic imaging centers, and other end users (ambulatory surgical clinics, universities/education centers, government organizations, and academic research institutes). In 2020, the hospitals segment is estimated to account for the largest share of the overall PACS and VNA market. Factors such as increasing hospital expenditure for the implementation of eHealth solutions, rising number of patients & imaging data, and rising adoption of imaging devices are driving the growth of this end-user segment.
This research report analyzes major geographies and provides a comprehensive analysis for North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and RoE), Asia-Pacific (Japan, China, India, and RoAPAC), Latin America, and the Middle East & Africa. In 2020, North America is estimated to dominate the global VNA & PACS market, followed by Europe and Asia-Pacific. Higher acceptance of advanced technologies, supportive government initiatives to expand healthcare IT solutions, and presence of leading medical players in the region are the key factors driving the North American market.
The key players operating in the overall VNA & PACS market are Agfa-Gevaert (Belgium), FUJIFILM Medical Systems U.S.A. (U.S.), GE Company (U.S.), Hyland Software, Inc. (U.S.), Merge Healthcare Inc. (U.S.), Mach7 Technologies (Australia), Change Healthcare Inc. (U.S.), Novarad Corporation (U.S.), Koninklijke Philips N.V. (Netherlands), Siemens Healthineers AG (Germany), Sectra AB (Sweden), ASPYRA, LLC (U.S.), INFINITT Healthcare Co., Ltd (South Korea), Hitachi, Ltd. (Japan), NTT DATA Corporation (Japan), and Cerner Corporation (U.S.), among others
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Key questions answered in the report-
- Which are the high growth market segments in terms of product type, end user, and region/countries?
- What was the historical market for VNA & PACS across the globe?
- What are the market forecasts and estimates for the period of 2020 to 2027?
- What are the major drivers, restraints, opportunities, and challenges in the overall VNA & PACS market?
- Who are the major players in the VNA & PACS market?
- How is the competitive landscape, and who are the market leaders in the overall VNA & PACS market?
- What are the recent developments in the overall VNA & PACS market?
- What are the different strategies adopted by the major players in the overall VNA & PACS market?
- What are the geographical trends and high growth regions/ countries?
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