Medical imaging is a vital healthcare service and is an important component in any healthcare institution. Healthcare practitioners continue to streamline medical imaging process with the help of healthcare information technology. Picture Archiving and Communications System (PACS) allows any healthcare organization to capture, view, store, and share any type of images internally and externally. While, Radiology Information System (RIS) is an organized database system especially for radiology health professionals to manage patient data and image files generated during the course of diagnosis and treatment. RIS and PACS have gained acceptance in healthcare IT solutions due to their ability to manage healthcare data with accuracy. The market is projected to further grow during the forecast period owing to rapid digitization in the healthcare sector globally. Market competitors in this industry are focusing on development of strategies such as collaborations, licensing agreements, and partnerships to develop highly efficient PACS and RIS platforms for ensuring better functioning of the healthcare industry, which will further boost the market growth.
The consolidation of data requires mechanisms to ensure its integrity and synchronization—both vital in supporting worklists across various facilities around the world. The average lifespan of RIS/PACS is estimated to be between seven and ten years. In this specific time, the steady pace of technological advancement, regulatory updates to privacy and security standards, and the increasing complexity of managing medical images, billing, and patient and referring physician communications all contribute to an incremental decline in the efficacy of most RIS/PACS products. However, the change is sufficiently gradual enough that most RIS/PACS users have difficulty discerning when it is time to replace the platforms with newer, more robust technology. Frequently, by the time replacement is underway, the legacy RIS/PACS is well past its prime, resulting in costly inefficiencies that could have been avoided by a timelier transition to a new system.
The global PACS market is segmented based on procurement mode, modality and geographies. In terms of procurement mode, the market is categorized into departmental PACS and enterprise PACS. In terms of modality the PACS market is segmented into X-ray, computed tomography, magnetic resonance imaging, PET & SPECT, ultrasound, mammography and others. The RIS market is categorized into delivery mode, product type and end-users. RIS market by delivery mode is further sub segmented into cloud-based RIS, on-premise RIS, and web-based RIS. The product types consist of integrated RIS and standalone RIS. The end-users in the RIS market include hospitals, imaging centers and others.
To analyze the market competition, market positioning and company profiling of key players operating in the global PACS and RIS market have been provided in the report. The factors considered for plotting the leading companies were based of business overview, financial analysis, product portfolio and key developments of the company pertaining to the PACS and RIS industry.
Qualitative assessment of the market was done by monitoring the current and historic market dynamics of the market such market drivers, opportunities and restraints observed in the market to determine the future trend in the global PACS and RIS market. The report also showcases key mergers, collaborations, major acquisitions and strategies undertaken by the companies that would help decision makers in the PACS and RIS market. The report also comprises attractive investment proposition in terms of geography by providing a holistic view of the PACS and RIS market.
The major players operating in the global PACS and RIS market include GE Healthcare, Agfa Healthcare, Fujifilm Teramedica, Inc., Merge Healthcare, McKesson Corporation, Cerner Corporation, Siemens Healthineers, Philips Healthcare, and others.
Picture Archiving and Communication Systems (PACS) Segmentation Analysis
Picture Archiving and Communication System (PACS) market is segmented into:
Picture archiving and communication system (PACS) is a healthcare information technology for storage, management, retrieval, distribution, and presentation of medical images. PACS allows a healthcare organization to capture, view, store, and share all types of electronic images internally and externally; therefore, eliminating the need for manual filing, retrieval, and sharing. The increasing adoption of healthcare information technology is stimulating the market for PACS. Moreover, growth will be driven by government schemes and initiatives to boost the digitization of healthcare systems, as well as considerable technological advancements in imaging information technology. The penetration of PACS into other oncology, endoscopy, and other medical specialties will result in further proliferation in demand for PACS. These dynamics will also be complemented by an improved focus on PACS by regulatory agencies, vendors, and health systems. In addition, integration of speech recognition capabilities and clinical decision-support systems will also significantly contribute in expanding the PACS customer pool. Integration of PACS with available and emerging web technology has paved way for timely delivery and access to electronic images, coupled with heightened efficiency in data interpretations.
Radiology Information Systems (RIS) Segmentation Analysis
Radiology Information Systems (RIS) market is segmented on the basis of following parameters:
A Radiology Information System is a kind of Electronic Health Record (EHR) system specifically designed for use in radiology. RIS aims to support efficiency in the workflow and operations in a radiology department. Within a radiology department, major functions of the RIS include resource management, patient scheduling, examination interpretation, examination performance tracking, results distribution, and procedural billing. Optimum implementation of RIS results in integration of multiple functions into one comprehensive system, thereby eliminating redundant actions while boosting accuracy and efficacy of data storage and sharing. RIS offers benefits such as high reliability, privacy and security as they can be accessed only by authorized operators. Rising number of chronic disorder and trauma cases has resulted in increased patient footfall and therefore added to the need for healthcare information management systems globally. Additionally, rising emphasis of curtailing administrative costs across private and public healthcare sectors would further drive the acceptance of RIS in the future.
North America held the largest share in the global PACS and RIS market. Market experts suggest that through supportive legislations such as the Affordable Care (ACA) Act, and Healthcare Insurance Portability and Accountability (HITECH) Act, the U.S. market is witnessing increased adoption of EHRs, PACS and hospital process consolidation tools. The growing need for integrated storage of standard imaging data, and government initiatives and support for the use of advanced imaging information systems are the other factors responsible for the growth of PACS and RIS market in North America. Asia Pacific has emerged as a flourishing market for RIS and PACS as medical imaging plays a substantial role in therapy and diagnostics. Rising medical tourism, increasing government initiatives for eHealth, and growing demand for high quality patient care in this region would boost the market in Asia Pacific.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of PACS (Picture Archiving And Communication Systems) And RIS (Radiology Information Systems) market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Modalities
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Procurement Mode
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Delivery Mode
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Procurement Mode
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End-users
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
