Picture Archiving and Communication Systems (PACS) Market Size Sales, Price, Revenue, Gross Margin

According to the new market research "Picture Archiving and Communication Systems (PACS) Market by Component (Service, Software), Delivery (Subscription, Ownership), Functionality (Clinical, Administrative, Financial), End User (Clinic, Hospital, Private Practice, Payer), and Region - Global Forecast to 2026", The Picture Archiving and Communication Systems (PACS) market is expected to reach USD 3 billion by 2026 from USD 1,695.3 million in 2017, at a CAGR of 6.1%.

Picture archiving and communication system (PACS) is an advanced technology used in clinical settings and medical imaging especially for the purpose of communication and storage which delivers economically effective and manageable contact to pictures from multiple modalities such as magnetic resonance imaging (MRI), computed tomography (CT), positron emission tomography (PET), X-ray plain film (PF), ultrasound, and nuclear medicine.

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Presently, clinics, diagnostic centres, and small hospitals are converging on their procurements of specialized PACS tools because of the more common use of advanced CT and scanners. New PACS products designed in a way to reminisce the changing demands of small hospitals. Small hospitals are now progressively adopting PACS due to its increasing demand for PACS. Moreover, the adoption of healthcare IT encouraged by the government initiatives have been recognized with various governments across the globe and this is also driving market growth majorly in healthcare sector.

Major Key Player: -

FUJIFILM Medical Systems

Carestream Health

Agfa-Gevaert Group

INFINITT Healthcare Co. Ltd.

Merge Healthcare Solutions Inc.

Mckesson Corp.

GE Healthcare

Koninklijke Philips N.V.

Sectra AB

Siemens Healthineers.

The usage of PACS for accurate and detailed evaluation of person’s health has enhanced as a result of such initiatives. With this, the acceptance of healthcare solutions, such as RIS, electronic health record, and PHR have increased with the rising demand to improve the overall quality of healthcare services. However, high operating and installation cost for PACS and decreasing dispersion rate of PACS are some of the factors restraining the growth of the global PACS market.

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The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Picture Archiving and Communication Systems (PACS) Market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, APAC, Latin America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific. The North America Picture Archiving and Communication Systems (PACS) Market generated the highest revenue in 2017 high presence of could based manufactures in this region. The key factor driving the North America Picture Archiving and Communication Systems (PACS) Market is increasing adoption of healthcare IT adoption coupled with rising demand for diagnostic imaging.

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