PACS and RIS Market was valued at US$ 3.66 Bn in 2022, and it is expected to reach US$ 5.97 Bn by 2029, exhibiting a CAGR of 7.23% during the forecast period 2023-2029.
PACS and RIS Market Overview:A picture archiving and communication system (PACS) is a medical imaging technology that allows for easy access to and cost-effective storage of images from a variety of sources, whereas a RIS (radiology information system) is a computerized database used by radiology departments to store, manipulate, and distribute patient radiological data and imagery. These technologies make it possible to retrieve images from a variety of sources, including computed tomography (CT), ultrasound, X-ray plain film (PF), and magnetic resonance imaging (MRI), among others. To know about the Research Methodology :- Request Free Sample Report The report explores the PACS and RIS Market's segments (Product, Deployment, Component, End-User). Data has been provided by market participants, and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). The MMR market report provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2018 to 2022. The report investigates the PACS and RIS Market’s drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the PACS and RIS Market's contemporary competitive scenario.
PACS and RIS Market Dynamics:A picture archiving and communication system (PACS) is a medical imaging solution that provides cost-effective storage and simple access to images from different modalities. Furthermore, because electronic images are transferred digitally through PACS, manual file storage in the form of physical folders and X-ray films is no longer necessary. DICOM appears to be the worldwide standard for storing and transmitting PACS images. The radiological information system, or RIS, is crucial to the electronic management of various imaging departments. Patient scheduling, examination performance tracking, procedure invoicing, resource management, results distribution, and reporting are just a few of the functions it provides. Appointment scheduling, digital reporting, patient registration & scheduling, patient tracking, consent management, modality & material management, PACS workflow, voice recognition, result entry, billing, patient list management, and custom report creation are also supported by RIS. The rising popularity of PACS due to their ability to reduce the physical and time barriers related to traditional film-based image retrieval, distribution, and display, as well as an increase in the number of health-care facilities and high-value products such as cardiology, orthopedic, and oncology PACS, are driving the PACS and RIS market. The rise in the overall number of diagnostic tests procedures performed around the world as a result of increased awareness about early disease diagnosis and high adoption in hospitals and clinics because it eliminates the need for hard copies of images and replaces them with digital storage, propelling the PACS and RIS market even faster. The increasing demand for storing, interpreting, and consulting by a wide range of medical experts on patient diagnostic images, the inability to host and store these images, and scalability and interoperability, as well as the rise in demand for solutions to enable easy access and secure sharing of all clinical information, thus protecting patients' privacy and keeping healthcare costs in check, all influence the PACS and RIS market. Furthermore, the PACS and RIS markets benefit from the integration of patient images with electronic medical records and health information exchange systems, as well as the adoption of advanced technology, improved healthcare infrastructure, and an increase in healthcare expenditure. Furthermore, in the projection future, the use of cloud-based solutions and technological advancements provide profitable prospects for PACS and RIS market participants. Market Drivers: The global PACS and RIS market is primarily driven by increased investments in automation and digitization in the healthcare industry. Increased demand for digital images such as X-rays, MRI, ultrasonography, and digital pathology is a major driver, as picture archive and communication (PAC) allows for easy access and low-cost storage of digital images. PACS provides low-cost access to a variety of source modalities, including computed tomography, positron emission tomography, and plain X-Ray film. The benefits of PACS over traditional picture storage, display, and distribution, such as time savings and digitization, have enhanced the demand for PACS across the healthcare business. The PACS has a wide range of uses in diagnostic centres, clinics, and hospitals since it allows for easy digital image storage while removing the need for hard copies. During the forecast period, the market is likely to benefit from rising government and corporate investments in digitalizing healthcare systems to reduce costs and boost profits. The increased frequency of numerous chronic diseases among the global population is increasing demand for diagnostics, and as a result, PACS and RIS are gaining traction in delivering cost-effective, simply accessible, and simple digital image storage solutions. The expanding applications of various PACS, such as cardiology PACS, orthopedic PACS, dental PACS, and cancer PACS, are fueling global market expansion. The increased usage of cloud-based PACS and RIS as a result of quick access, broad network connectivity, and on-demand service is projected to drive market expansion in the near future. Furthermore, the need for RIS and PACS among healthcare workers is being fueled by remote access via smart phones. In the coming years, the market is likely to be driven by rising government spending in the building of strong IT and telecommunications infrastructure. Market Growth Restraint: PACS systems are frequently used in large healthcare provider data networks, and experts advise that providers of all sizes try to improve the cyber security of their medical imaging systems. Medical devices are linked to integrated delivery networks and hospital computer networks, such as image-producing hardware like MRI machines, can pose cyber security and patient safety risks. Opportunities in the Market: The storage, analysis, and consultation of a large number of medical professionals on diagnostic photographs of patients is required under current healthcare procedures. Medical archiving systems are insufficient to host and archive these materials, and interoperability and scalability are major concerns. Healthcare services demand a system that enables quick access to and secure sharing of all clinical data while maintaining patient privacy and lowering expenses. The necessity to integrate patient photographs with electronic health records and health information sharing networks is expected to propel the worldwide PACS and RIS market forward significantly in the near future. Industry participants foresee stable growth in the worldwide PACS and RIS market for picture archiving and communication systems as healthcare providers adjust to information management platforms and new imaging to meet their needs. Cloud-based PACS solutions are the most recent market innovation, and they are expected to become one of the market's top technologies in the coming years. The market for PACS and RIS is projected to benefit from the growing usage of digital pathology. For example, PathAI, a provider of AI-enabled pathology products, announced in October 2022 that it had formed a cooperation with pharma and diagnostics behemoth Roche to promote adoption of its AI pathology technology via Roche's uPath enterprise software, a lab workflow platform. Challenges for the Market Growth: Cyber-attacks on RIS and PACS are common, raising worries about data security in the healthcare industry. As a result, the global PACS and RIS market is likely to slow down during the forecast period.
Covid19 Impact Analysis on the Market:In the projected period, the COVID-19 outbreak is expected to have a moderate influence on the market. PACS and RIS market growth is projected to be slowed by research and development activities to discover the threat of virus on patients suffering. COVID-19 has wreaked havoc on the healthcare business around the world, causing delays in the treatment of non-communicable diseases. There are difficulties in delivering effective care. Recognizing the alarming healthcare trends, governments around the world are putting up efforts to deliver high-quality healthcare to patients. Lockdowns across the country, cancelled or postponed elective procedures, denied wound care treatments, and an increase in skin injuries might all contribute to a drop in the anticipated timescale. On the other hand, the second half of the prediction is expected to show a drastic rise.
PACS and RIS Market Segment Analysis:Based on Component, Software segment is dominating the market with highest CAGR during the forecast period.. During the forecast period, the hardware category is expected to develop at the fastest rate, with a CAGR of xx percent.
PACS and RIS Market, by Component in 2022(%)Based on the product, PACS segment is dominating the market with highest CAGR of during the forecast period. Due to increased demand and interest in the use of PACS such as orthopaedic PACS and cardiology PACS. Due to an increase in cancer rates, the oncology segment of PACS has been observed to be the main segment in the predicted timeline among the various types of PACS products. Furthermore, the segment's expansion is expected to be fuelled by increased need for thorough diagnosis. Based on the Deployment, Web Based segment is dominating the market with highest CAGR during the forecast period. The web-based PACS and RIS industry now dominates the global market, which is predicted to increase demand for multi-modality support for efficient workflow management of medical imaging practises across several locations. Because of the development in the number of health care activities and other factors, the cloud-based segment is predicted to grow at the fastest rate. Cloud-based systems give enhanced cyber security and additional storage, making them more convenient. Based on the end user, Hospital segment is dominating the market with highest CAGR of during the forecast period. The hospitals category accounted for the greatest share of the market in 2022 and is expected to grow at the fastest rate of around 8.5% over the forecast period.
PACS and RIS Market Regional Insights:The North America region dominated the market with highest share in 2022. The North America region is expected to witness significant growth at a CAGR of xx% through the forecast period. Due to growing technical developments and demand for PACS in the region due to rising illness incidences and the urgent need for data management, North America is expected to lead the market. Acceptance of healthcare IT products in clinics and hospitals in countries like the United States will keep the market booming. In addition, the increased use of healthcare IT systems in hospitals will expand regional market size. The growing demand for effective data management technologies in healthcare institutions in nations like Canada and the United States will propel the market forward. The presence of key firms will have a significant impact on market revenues in the subcontinent. Due to expanding population and emerging economies, as well as high disposable money for healthcare and government initiatives, Asia-Pacific is likely to be the most attractive market. Individual market affecting factors and changes in regulation in the domestic market are also discussed in the nation section of the PACS and RIS market study, which have an impact on the market's current and future trends. Some of the primary pointers utilised to anticipate the market situation for particular countries include consumption quantities, production sites and volume, import export analysis, price trend, price of raw materials, and down-stream and upstream value chain analysis. While providing forecast analysis of the nation data, the presence and availability of global brands, as well as the obstacles they face due to significant or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are all taken into account. The objective of the report is to present a comprehensive analysis of the Global PACS and RIS Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the PACS and RIS Market dynamic, structure by analyzing the market segments and projecting the PACS and RIS Market size. Clear representation of competitive analysis of key players by Vehicle type, price, financial position, product portfolio, growth strategies, and regional presence in the PACS and RIS Market make the report investor’s guide.
PACS and RIS Market Scope: Inquire before buying
Global PACS and RIS Market Report Coverage Details Base Year: 2022 Forecast Period: 2023-2029 Historical Data: 2018 to 2022 Market Size in 2022: US $ 3.66 Bn. Forecast Period 2023 to 2029 CAGR: 7.23% Market Size in 2029: US $ 5.97 Bn. Segments Covered: by Product RIS PACS Cardiology PACS Dental PACS Oncology PACS Orthopaedic PACS Others by Component Hardware Software Services by Deployment Web-based Cloud-based On-premise by End-User Hospitals Diagnostic Centers Research & Academic Institutes Ambulatory Surgical Centers
PACS and RIS Market, by RegionNorth America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe) Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina, Columbia and Rest of South America)
PACS and RIS Market Key Players are:1. General Electric Healthcare 2. Fujifilm Holdings Corporation 3. Agfa Healthcare 4. Philips Healthcare 5. Siemens Healthineers 6. McKesson corporation 7. Allscripts Healthcare solutions 8. Koninnklijke Philips 9. Medinformatix Inc. 10. eRAD 11. Ramsoft Inc. 12. Cerner Corporation 13. INFINITT Healthcare 14. Novarad 15. Wellbeing Software 16. Merge Healthcare Incorporated Frequently Asked Questions: 1] What segments are covered in the Global Global PACS and RIS Market report? Ans. The segments covered in the Global PACS and RIS Market report are based on Product, Component, Deployment, End User. 2] Which region is expected to hold the highest share in the Global Global PACS and RIS Market? Ans. North America region is expected to hold the highest share in the Global PACS and RIS Market. 3] What is the market size of the Global Global PACS and RIS Market by 2029? Ans. The market size of the Global PACS and RIS Market by 2029 is expected to reach US$ 5.97 Bn. 4] What is the forecast period for the Global Global PACS and RIS Market? Ans. The forecast period for the Global PACS and RIS Market is 2023-2029. 5] What was the market size of the Global Global PACS and RIS Market in 2022? Ans. The market size of the Global PACS and RIS Market in 2022 was valued at US$ 3.66 Bn.
1. Global PACS and RIS Market: Research Methodology 2. Global PACS and RIS Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global PACS and RIS Market 2.2. Summary 2.1.1. Key Findings 2.1.2. Recommendations for Investors 2.1.3. Recommendations for Market Leaders 2.1.4. Recommendations for New Market Entry 3. Global PACS and RIS Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12 COVID-19 Impact 4. Global PACS and RIS Market Segmentation 4.1 Global PACS and RIS Market, By Product (2022-2029) • RIS • PACS o Cardiology PACS o Dental PACS o Oncology PACS o Orthopaedic PACS o Others 4.2 Global PACS and RIS Market, By Component (2022-2029) • Hardware • Software • Services 4.3 Global PACS and RIS Market, By Deployment (2022-2029) • Web-based • Cloud-based • On-premise 4.4 Global PACS and RIS Market, By End user (2022-2029) • Hospitals • Diagnostic Centers • Research & Academic Institutes • Ambulatory Surgical Centers 5. North America PACS and RIS Market (2022-2029) 5.1 North America PACS and RIS Market, By Product (2022-2029) • RIS • PACS o Cardiology PACS o Dental PACS o Oncology PACS o Orthopaedic PACS o Others 5.2 North America PACS and RIS Market, By Component (2022-2029) • Hardware • Software • Services 5.3 North America PACS and RIS Market, By Deployment (2022-2029) • Web-based • Cloud-based • On-premise 5.4North America PACS and RIS Market, By End user (2022-2029) • Hospitals • Diagnostic Centers • Research & Academic Institutes • Ambulatory Surgical Centers 5.5 North America PACS and RIS Market, by Country (2022-2029) • United States • Canada • Mexico 6. Asia Pacific PACS and RIS Market (2022-2029) 6.1. Asia Pacific PACS and RIS Market, By Product (2022-2029) 6.2. Asia Pacific PACS and RIS Market, By Component (2022-2029) 6.3. Asia Pacific PACS and RIS Market, By Deployment (2022-2029) 6.4. Asia Pacific PACS and RIS Market, By End user (2022-2029) 6.5. Asia Pacific PACS and RIS Market, by Country (2022-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 7. Middle East and Africa PACS and RIS Market (2022-2029) 7.1 Middle East and Africa PACS and RIS Market, By Product (2022-2029) 7.2. Middle East and Africa PACS and RIS Market, By Component (2022-2029) 7.3. Middle East and Africa PACS and RIS Market, By Deployment (2022-2029) 7.4. Middle East and Africa PACS and RIS Market, By End user (2022-2029) 7.5. Middle East and Africa PACS and RIS Market, by Country (2022-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 8.Latin America PACS and RIS Market (2022-2029) 8.1. Latin America PACS and RIS Market, By Product (2022-2029) 8.2. Latin America PACS and RIS Market, By Component (2022-2029) 8.3. Latin America PACS and RIS Market, By Deployment (2022-2029) 8.4. Latin America PACS and RIS Market, By End user (2022-2029) 8.5. Latin America PACS and RIS Market, by Country (2022-2029) • Brazil • Argentina • Rest of Latin America 9. European PACS and RIS Market (2022-2029) 9.1. European PACS and RIS Market, By Product (2022-2029) 9.2. European PACS and RIS Market, By Component (2022-2029) 9.3. European PACS and RIS Market, By Deployment (2022-2029) 9.4. European PACS and RIS Market, By End user (2022-2029) 9.5. European PACS and RIS Market, by Country (2022-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest of Europe 10.Company Profile: Key players 10.1. General Electric Healthcare 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 Agfa Healthcare 10.3 Philips Healthcare 10.4Siemens Healthineers 10.5McKesson corporation 10.6Allscripts Healthcare solutions 10.7Koninnklijke Philips 10.8Medinformatix Inc. 10.9eRAD 10.10Ramsoft Inc. 10.11Cerner Corporation 10.12INFINITT Healthcare 10.13Novarad 10.14Wellbeing Software 10.15Merge Healthcare Incorporated 10.16 Fujifilm Holdings Corporation