Number of pages: 100 | Report Format: PDF | Published date: November 09, 2022
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
The global vendor neutral archive & PACS market was pegged at US$ 5.3 billion in 2021 and is expected to witness a CAGR of 6% during the forecast period.
Two crucial markets in the medical image management sector are classified as Vendor Neutral Archive (VNA) and Picture Archiving and Communication System (PACS). In order to accommodate proprietary vendor and healthcare provider requirements for medical image storage, retrieval, manipulation, and viewing, vendor neutrality is achieved by interfacing with all notable PACS technologies. A VNA can reduce the complexity and expense of PACS migration, give the healthcare provider more ownership and control over its medical imaging data, and lessen its reliance on certain PACS vendors. However, the precise definition and feature set are in dispute and constantly changing as various VNA vendors work to stand out from rivals and avoid exclusion, while consumers voice wants ranging from practical to fantastic.
The market for VNA and PACS is expanding as a result of a number of factors, including the existence of favourable government laws for key markets and the rising demand for standard-based storage, disaster recovery, and lifecycle management solutions. One of the key trends in this industry is the consolidation of patient data by merging VNAs with electronic health records (EHR). HR adoption is quite strong in industrialised countries and is rising everywhere. Organizations are able to liberate content and make data accessible to physicians through high-level connectivity with the EHR. The platform's advantages are pushing the market research.
The global vendor neutral archive & PACS market has been analysed from four perspectives by type, mode of delivery, usage of model and region.
Vendor Neutral Archive & PACS Market by Type
Based on type,the global vendor neutral archive & PACS market has been segmented into VNS & PACS software. The vendor neutral archive software is sub segmented into delivery mode, deployment model, and supplier type whereas the picture archiving and communication system is also sub segmented into departmental and enterprise PACS. The PACS segment dominated during forecast period. More than 80% of hospitals in developed nations like the United States, the United Kingdom, and Japan use PACS. The scope is apparent in developing nations, particularly in Asian nations like China and India. Healthcare facilities in these nations are now switching from the use of various services to integrated systems for exchanging and storing medical images.
Vendor Neutral Archive & PACS Market by Mode of Delivery
Based on mode of delivery, the global vendor neutral archive & PACS market has been segmented into on-site, hybrid and cloud hosted. The On-site segment dominates in terms of overall revenue contribution because this approach is favoured over others. However, small and medium-sized healthcare organizations are already becoming interested in hybrid VNA solutions that include a cloud-based component for storage because on-site VNAs require a significant capital investment.
Vendor Neutral Archive & PACS Market by Region
Based on the regions, the global vendor neutral archive & PACS market has been segmented into North America, Europe, Asia Pacific, and Rest of the World. Regionally, North America has made significant recent contributions to the growth of the global vendor-neutral archive and PACS market. Information systems have a great deal of promise to save healthcare costs and enhance results. These solutions have a significant impact on lowering expenses as well as raising the standard of service provided. The benefits of PACS include the removal of pricey silver-based screens, improved physician access to both old and new films, a decrease in the physical storage needs of large films, and minimal personnel expenses. PACS has also enhanced hospital workflow by cutting down diagnostic time from hours to minutes. The PACS monitor systems are essential for quickly and effectively locating connectivity problems and fixing them. The increase in patient diagnoses per hour, the decrease in administrative costs, the convenience of handling, and the review and transfer of images following imaging are also prime market drivers.
Some of prominent market players of the global vendor neutral archive & PACS market include
Recent changes in the industry, such mergers and acquisitions, show how smaller companies work with bigger ones to create cutting-edge innovations by combining their core capabilities. This industry provides the healthcare sector immense potential and has a very promising future.
In October 2021, Intelerad Medical Systems, the global leader in medical image management systems, has acquired Ambra Health, a provider of cloud-based medical image management software.
The VNA software segment dominated the global vendor neutral archive & PACS market.
Some of prominent market players of the global vendor neutral archive & PACS market include Acuo Technologies, Agfa HealthCare, BridgeHead Software, EMC Corporation, Carestream Health.
The global vendor neutral archive & PACS market was expected to witness a CAGR of 5.4% during the forecast period.
The rising need for the widespread adoption of medical image archiving, falling data storage prices, and high-level integration with the EHR sector are responsible for the market expansion.
*Insights on financial performance is subject to availability of information in public domain