PACS and RIS Market by Product (PACS (Cardiology PACS, Orthopedic PACS, Dental PACS, and Oncology PACS) and RIS), by Component (Services, Software, and Hardware), by Deployment Mode (On-premise, Cloud-based, and Web-based), and by End-User (Research & Academic Institutes, Hospitals, Diagnostic Centers, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 - 2024

Global PACS and RIS market expected to reach USD 4.3 billion by 2024, growing at a CAGR of around 7.3% between 2018 and 2024. RIS is a software system network used to manage medical images and the data associated with it. It is particularly beneficial for tracking billing information and radiology imaging orders.

30-Oct-2018 | Number of pages: 110 | Report Code: ZMR-3483 | Report Format : | Status : Published

Analysis

Digital imaging is now an essential part of the developed world. The extensive acceptance has made it possible to get instant access to images, remote viewing, and remote consultation. The introduction of digital imaging and the addition of related information technologies within the day-to-day practice of radiology have changed the medical environment significantly. A radiology information system (RIS) is a software system network used to manage medical images and the data associated with it. RIS is particularly beneficial for tracking billing information and radiology imaging orders. It is often used in amalgamation with PACS for record-keeping, billing, and managing image archives. Picture archiving and communication system (PACS) is used for hoarding, recovering, presenting, and allocating images produced by multiple medical hardware modalities, like CT scan, X-ray, ultrasound machines, and MRI.

PACS stands for picture archiving and communication system. It allows images, such as scan and x-rays, to be captured, accumulated, circulated, and observed at the touch of a button, enabling the healthcare professionals to have a fast and proficient access to patient information. Hospitals and other healthcare facilities are under constant digitization process. DICOM (Digital Imaging and Communications in Medicine) is the universal format used for storage and transfer of PACS images. Scanned documents and other non-image data can be incorporated in various formats, like PDF, after they have been summarized in DICOM. PACS comprises of four main components: imaging modalities like computed tomography (CT), magnetic resonance imaging (MRI), and X-ray plain film (PF), a safe network to transfer patient information, archives for storing and retrieving images and reports, and workstations to interpret and review images.

Global PACS and RIS Market

Increasing adoption of health information technology (HIT), growing used of diagnostic imaging, development strategies incorporated by leading players to develop highly advanced PACS and RIS platforms, and rising use of RIS and PACS for a thorough assessment of patient health are the prime factors responsible for the growth of PACS and RIS market. Untapped market and increasing government funding for research and development are also expected to generate new opportunities in the forecast timeframe. However, the high software cost is one of the roadblocks for the developing PACS and RIS market. 

Based on product type, the PACS and RIS market is segmented into PACS and RIS. The PACS segment is further segmented into cardiology PACS, orthopedic PACS, dental PACS, and oncology PACS. The PACS segment holds the majority share of the PACS and RIS market. By component, the PACS and RIS market is classified into services, software, and hardware. Based on deployment mode, the PACS and RIS market is classified into on-premise, cloud-based, and web-based. The cloud-based segment is projected to grow at a steady growth rate during the forecast timeframe. By end-user, the PACS and RIS market has been segmented into research and academic institutes, hospitals, diagnostic centers, and others. The hospital segment will dominate the market and is expected to grow at the fastest rate in the forecast timeframe.  

Based on geography, the PACS and RIS market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America will dominate the market in the forecast period, due to increasing government funding for PACS and RIS. The Asia Pacific region is expected to grow at the highest growth rate mainly due to increasing demand for powerful IT systems in diagnostics. 

Key players operating in the PACS and RIS market are GE Healthcare, Fujifilm Holdings Corporation, Agfa Healthcare, Allscripts Healthcare Solutions, Inc., Philips Healthcare, Siemens Healthineers, and McKesson Corporation, among others.


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