According to a new market research report, “VNA Market and PACS Market by Procurement (Departmental and Enterprise), Delivery (On-Premise, Hybrid, Cloud-Based), Vendor (PACS, Independent Software, Infrastructure), and End User (Hospitals, Diagnostic Imaging Centers) – Global Forecast to 2027”, published by Meticulous Research®, the VNA & PACS market is expected to grow at a CAGR of 6.7% from 2020 to reach $4.89 billion by 2027.
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Medical image management solutions, including VNA & PACS, are used to aid diagnosis, compare images between patients or within the same patient at different time points to assess disease progression, and evaluate prognosis. PACS is a medical imaging technology used primarily in healthcare organizations to store and digitally transmit electronic images and clinically-relevant reports securely. Although PACS is widely adopted in healthcare, VNA technology is rapidly gaining traction. VNA and AICA platforms allow providers to manage and provide access to disparate types of unstructured content among multiple departments, across the entire integrated delivery network, and between affiliated providers in the community.
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Key Findings in the VNA and PACS Market Study-
The VNA & PACS market is mainly segmented by procurement, delivery, vendors, end user, and geography. The study also evaluates industry competitors and analyzes the market at the regional and country level.
Based on procurement, the enterprise PACS segment is estimated to grow at the highest CAGR during the forecast period due to the rising demand for patient-centric, single, sophisticated systems, such as enterprise PACS.
Based on vendor, the PACS vendors segment commanded the largest share of the overall VNA market in 2020. This segment’s large share is attributed to various traditional PACS companies, medical imaging modalities, and medical IT companies, offering VNA as an extension to their imaging portfolio.
On the basis of end user, in 2020, the hospitals segment accounted for the largest share of the overall VNA and PACS market, owing to the growing number of hospital admissions, rising number of hospitals in developing countries, and growing demand for enterprise-wide image data management in hospitals.
Geographically, the APAC region is expected to grow at the highest CAGR during the forecast period due to rising investment in the healthcare sector; improving healthcare infrastructure; and increasing medical imaging devices, AI, and telehealth services.
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The report also includes an extensive assessment of the geographic analysis, product portfolio, and key strategic developments adopted by leading market participants in the industry from 2018–2021. The VNA & PACS market has witnessed several acquisitions; partnerships & agreements; new product launches; and approvals in recent years. For instance, in July 2020, Hyland Software, Inc. (U.S.) partnered with Life Image Inc. (U.S.) to improve interoperability within the healthcare ecosystem and provide physicians and other hospital staff with essential access to images from any device, anytime by combining Hyland’s NilRead enterprise and diagnostic viewer, with Life Image’s digital image exchange network.
The key players operating in the global VNA and PACS market are Novarad Corporation (U.S.), Koninklijke Philips N.V. (Netherlands), INFINITT Healthcare Co., Ltd. (South Korea), Siemens Healthineers AG (Germany), Hyland Software, Inc. (U.S.), Agfa-Gevaert Group (U.S.), GE Company (U.S.), Mach7 Technologies (U.S.), FUJIFILM Holdings Corporation (Japan), BridgeHead Software Ltd. (U.K.), IBM Corporation (U.S.), Sectra AB (Sweden), ASPYRA, LLC (U.S.), and Change Healthcare Inc. (U.S.), among others.
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