The enterprise imaging solutions market is likely to register modest growth over the forthcoming time period owing to favorable government policies towards healthcare IT, increasing deployment of PACS systems in cardiology and radiology departments, rising volume of diagnostic imaging, and increased cloud-based deployment.
Enterprise imaging is the part of healthcare which purposes to bring together data of patient, multimedia and images. Instead of a productivity tool mostly utilized by radiologists, enterprise imaging has a lot of potential to become a network of communication for the medical domain. Enterprise imaging would have different meanings for different specialists.
In addition, an IT professional efficiently working in a healthcare organization must be able to advocate for medical imaging as a means of enhancing patient care as well as operational efficiency. The enterprise imaging solutions market is bifurcated into various segments in terms of deployment mode, solution type, end-use, and regional landscape.
Based on deployment mode, the enterprise imaging solutions market is divided into on-premise and cloud. In 2020, the cloud segment generated a revenue of more than $704.6 million and is slated to grow at a CAGR of more than 12.4% over the projected time period. There is wide product availability and affordability for healthcare providers with improved scalability.
With respect to solution type, the market for enterprise imaging solutions is classified into universal viewer, image exchange, VNA, and PACS. In 2020, PACS segment was valued at more than $580 million in 2020 and is projected to expand at a CAGR of 9.9% over the forecast period 2021-2027. The anticipated growth is majorly ascribed to high deployment of the systems in cardiology and radiology departments across hospitals.
PACS are basically picture archiving and communication systems that permit healthcare providers to store as well as send electronic images along with clinical reports. It further allows a healthcare organization like hospital mainly to capture, store, view as well as share all kinds of images both externally and internally.
In terms of end-use, the overall enterprise imaging solutions market is segmented into diagnostic imaging centers, hospitals, and others. Diagnostic imaging centers segment was valued at approximately $183 million in 2020. The segment projected to grow at 12.6% CAGR over the analysis timeline owing to rising volume of diagnostic procedures worldwide.
From a regional frame of reference, APAC enterprise imaging solutions market is projected to witness a respectable CAGR of over 14.1% through 2027. This projected growth is due to the favorable government policies towards healthcare IT and rising cloud-based deployment.