Specialty PACS Market 2022 Growth Analysis by Key Players, Globally Effective Factors, Trends, Business Plans and Forecast to 2030

Specialty PACS Market is valued approximately USD 2.6 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 6% over the forecast period 2019-2026

The Centers for Medicare and Medicaid Services report that US healthcare expenditures grew by 4.6% to US$ 3.8 trillion in 2019, or US$ 11,582 per person, and accounted for 17.7% of GDP. Also, the federal government accounted for 29.0% of the total health expenditures, followed by households (28.4%). State and local governments accounted for 16.1% of total health care expenditures, while other private revenues accounted for 7.5%.

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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.

A PACS (Picture archiving and communication system) is an electronic image management program which is used in the healthcare organizations for medical imaging. It is used to securely store and digitally transmit electronic images and clinically relevant reports. It contains applications for viewing images, databases, and frameworks, archiving services, and providing the user with one unified system. With the use of specialty PACS, healthcare organization can eliminate the need to physically file and store, retrieve and direct sensitive information and reports.

Nearly all the major medical imaging equipment manufacturers and medical IT companies provide PACS to the healthcare organizations. Increasing elderly population and the subsequent growth in the prevalence of various diseases, rising government initiatives to encourage the adoption of healthcare IT solutions, and surging utilization of medical imaging modalities such as X-ray, computed tomography (CT) scan etc., are the few factors responsible for high CAGR of the market over the forecast period.

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According to the Organization for economic Co-operation and Development (OECD), the number of CT scanner in Australia has been increased from 39.14 units per million inhabitants in 2009 to 67.20 units per million inhabitants in 2018. Similarly, in Mexico, the number of CT scanners per million inhabitants has increased from 2.86 units in 2002 to 5.83 units per million inhabitants in 2018. This, in turn, is anticipated to accelerate the demand of specialty PACS around the world. However, data security and privacy concerns and budgetary constraints are the few factors expected to impede the growth of the market over the forecast period of 2020-2026.

The regional analysis of global Specialty PACS market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rising volume of medical imaging tests and several diagnostic imaging centers, along with the early adoption of technologically advanced imaging systems.

However, Asia-Pacific is anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026, due to rising incidence of chronic diseases owing to growing aging population and growing adoption of imaging modalities in the countries like China and India.

Major market player included in this report are:
IBM Corporation
Mckesson Corporation
Agfa Healthcare
Carestream Health
Philips Healthcare
Sectra AB
Siemens Healthineers
Novarad Corporation
Infinitt North America
Intelerad Medical Systems Incorporated

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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study.

Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Type:
Radiology PACS
Cardiology PACS
Pathology PACS
Opthalmology PACS
Women’s Health PACS
Others

By Deployment Model:
On-Premises
Web/Cloud-Based

By Component:
Software
Services
Hardware

By End-User:
Hospitals
Ambulatory Surgical Centers & Clinics
Diagnostic Imaging Centers
Others

By Region:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2016, 2017, 2018
Base year – 2019
Forecast period – 2020 to 2026

Target Audience of the Global Specialty PACS Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

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What are the aspects of this report that relate to regional analysis?

The report’s geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The report provides a comprehensive analysis of market trends, including information on usage and consumption at the regional level.
Reports on the market include the growth rates of each region, which includes their countries, over the coming years.
How are the key players in the market assessed?
This report provides a comprehensive analysis of leading competitors in the market.
The report includes information about the key vendors in the market.
The report provides a complete overview of each company, including its profile, revenue generation, cost of goods, and products manufactured.
The report presents the facts and figures about market competitors, alongside the viewpoints of leading market players.
A market report includes details on recent market developments, mergers, and acquisitions involving the key players mentioned.

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