Key Drivers:
- Technological Advancements:Innovations in medical imaging modalities (like CT, MRI, and PET) and the development of AI-powered diagnostic tools are driving the need for specialized PACS solutions.
- Increasing Imaging Volumes:Non-radiology departments are seeing a rise in imaging procedures, creating a need for specialized PACS to manage and interpret the data effectively.
- Healthcare Digitization:Initiatives to digitize healthcare records and infrastructure are boosting the adoption of PACS solutions.
- Geriatric Population:The growing number of elderly individuals is leading to a higher incidence of chronic diseases, which in turn increases the demand for medical imaging and specialized PACS.
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The global specialty PACS market growth is driven by the rise in investments in medical imaging, increasing usage of imaging systems, and the rise in the geriatric populace. On the other hand, the increasing cost of remedy and a lack of awareness of the technology impede market growth to some extent. Moreover, the improvement of imaging solutions is anticipated to offer the market players new opportunities in the future.
Specialty PACS Market Segmentation
Based on Type
The ophthalmology PACS segment is expected to register the highest CAGR of 6.2% during the forecast period, due to prevalence of chronic diseases and surge in investment in medical imaging. However, the radiology PACS segment held the largest share in 2020, accounting for nearly three-fifths of the global specialty PACS market share in 2020. This is due to rise in the geriatric population and growth in medical imaging volumes.
By End User
The hospitals and clinics segment held the highest market share in 2020, contributed to more than half of the global specialty PACS market revenue, and is estimated to maintain its lead position during the projection period. The same segment would also exhibit the highest CAGR of 6.0% from 2021 to 2030. This is due to the rise in the number of hospitals in developed and developing countries and the prevalence of hospital visits for the diagnosis and treatment of diseases. On the other hand, it also examines the ambulatory surgery centers and others segments.
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By Region
he North America region held the largest share in 2020, garnering nearly two-fifths of the global specialty PACS market revenue, and is likely to dominate the market during the forecast period. This is due to the increasing demand for PACS systems and the availability of advanced healthcare facilities with highly trained medical staff. On the other hand, the Asia-Pacific region is expected to register the fastest CAGR of 6.9% during the forecast period.
Industry-Leading Players
- McKesson Corporation
- Onex Corporation (Carestream Health)
- INC Escalon Medical Corp.
- Canon Inc. (Canon Medical System Corporation)
- EyePACS, LLC
- INFINITT Healthcare Co. Ltd.
- IBM Corporation
- Novarad
- Koninklijke Philips N.V.
- Siemens AG
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the market analysis from 2021 to 2030 to identify the prevailing Specialty PACS Market Opportunity.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the market segmentation assists to determine the prevailing Specialty PACS Market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global Specialty PACS Market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global trends, key players, market segments, application areas, and market growth strategies.
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