The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
“The global specialty PACS market is projected to grow at 6.0% during the forecast period.”
The specialty PACS market is projected to reach USD 3.5 billion in 2024 from USD 2.6 billion in 2019, at a CAGR of 6.0%. The growth in this market is driven mainly by the increasing geriatric population and subsequent growth in the incidence of various diseases, advantages associated with specialty PACS, government initiatives to increase the adoption of healthcare IT solutions, rising investments in medical imaging, growing adoption of medical imaging IT solutions, and increasing use of imaging equipment. On the other hand, budgetary constraints are expected to limit market growth during the forecast period.
“The services segment is projected to grow at the highest CAGR during the forecast period.”
Based on the component, the specialty PACS market is segmented into software, services, and hardware. In 2018, the software segment accounted for the largest specialty PACS market share. With the consistent increase in the healthcare imaging volumes, there is a growing demand for PACS software. However, services are expected to register the highest CAGR of during the forecast period primarily due to the recurring need for services such as software upgrades and maintenance.
“The radiology PACS segment accounted for the largest share of the specialty PACS type market in 2018.”
Based on the type, the specialty PACS market is segmented into radiology PACS, cardiology PACS, pathology PACS, ophthalmology PACS, orthopedics PACS, oncology PACS, dermatology PACS, neurology PACS, endoscopy PACS, women’s health PACS, and other specialty PACS. The radiology PACS segment accounted for the largest share of the market in 2018 as a majority of imaging studies are handled, managed, and stored in the radiology departments of hospitals. Furthermore, with the ever-increasing volume of medical images, the pressure on radiology departments is also growing. Owing to this, many healthcare facilities are adopting radiology PACS solutions, which is expected to fuel the growth of the segment.
“Asia Pacific to witness high growth during the forecast period.”
In 2018, North America accounted for the largest share of the market, followed by Europe. However, Asia Pacific is expected to grow at the highest CAGR during the forecast period. Factors such the increasing incidence of chronic diseases, rising awareness on the benefits of early disease diagnosis, and growing adoption of imaging modalities are some of the factors driving the growth of specialty PACS market in this region.
The primary interviews conducted for this report can be categorized as follows:
- By Company Type: Tier 1 – 44%; Tier 2 - 36%; Tier 3 - 20%.
- By Designation: C-level- 22%; D-level- 28%; others--50%.
- By Region: North America-35%; Europe-26%; Asia -33%; RoW-6%.
List of companies profiled in the report
- IBM Corporation (Merge Healthcare Incorporated) (US)
- McKesson Corporation (US)
- Agfa Healthcare (Belgium),
- Carestream Health (a part of Onex Corporation) (Canada)
- Philips Healthcare (Netherlands)
- Sectra AB (Sweden)
- Siemens Healthineers (Germany)
- Novarad (US)
- INFINITT North America (US)
- Intelerad Medical Systems (Canada)
- Topcon Corporation (Japan)
- Sonomed Escalon (US)
- Canon USA, Inc. (US) (a subsidiary of Canon Inc.)
- Visbion (UK)
- EyePACS, LLC (US).
- The report provides an overview of the specialty PACS market. It aims at estimating the market size and growth potential of this market across different segments such as product, end user, and region.
- Furthermore, the report also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, recent developments, and key market strategies.
Key Benefits of Buying the Report:
- The report will help the market leaders/new entrants in the specialty PACS market by providing them with the closest approximations of revenues for the overall market and its subsegments.
- This report will help stakeholders to understand the competitive landscape better and gain insights to position their businesses and help companies adopt suitable go-to-market strategies.
- The report also helps stakeholders understand the pulse of the market and provide them with information regarding key market drivers and opportunities.