GE Healthcare, FUJIFILM Corporation, Sectra AB, INFINITT Healthcare Co. Ltd., Siemens Healthcare GmbH, and IBM Corporation, among others, are the major players in the global picture archiving and communication system (PACS) market.
The global picture archiving and communication system (PACS) market is expected to grow at a CAGR of about 5.8% in the forecast period of 2022-2027. As per the analysis by Expert Market Research, the market is expected to be driven by the increasing adoption of healthcare IT infrastructure and increased usage of diagnostic imaging to detect various disorders. The usage of picture archiving and communication systems (PACS) eliminates the need for hard copies of pictures.
Due to its digital storage technology, PACS allows easy management and transfer of patient data. There is an increasing need for picture archiving and communication systems due to the growing desire for improved solutions that provide easy access and secure transfer of clinical information while preserving patient privacy. Other factors supporting market growth include increased government investments in healthcare infrastructure, increased adoption of a patient-centric approach, favourable reimbursement policies, and increased demand from hospitals and diagnostic centres. Growing research and development activities and enhanced product releases by manufacturers are expected to drive the market growth over the forecast period.
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In 2020, North America accounted for a significant share of the industry. The presence of advanced healthcare infrastructures and the latest technology are the factors contributing to the industry's growth in North America. The industry's growth is further aided by the increased penetration of key market players in the region and the expanding use of picture archiving and communication systems (PACS) in hospitals. Meanwhile, the Asia Pacific region is likely to offer new opportunities for market expansion during the forecast period owing to the favourable measures by governments in emerging nations such as India and China, to improve healthcare facilities and encourage the usage of healthcare IT.
Headquarters: Chicago, United States
GE Healthcare, a global leader in medical technology and digital solutions, uses its Edison intelligence platform to help clinicians make faster, more informed decisions via data analytics, intelligent devices, applications, and services. With more than 50,000 employees worldwide, the company is at the centre of an ecosystem working toward precision health, digitising healthcare, and assisting patients, providers, health systems, and researchers worldwide in driving productivity and improving outcomes.
Headquarters: Minato-ku, Tokyo, Japan
FUJIFILM Corporation is a multinational conglomerate based in Japan. Fujifilm has leveraged its imaging and information technology to create a global presence known for innovation in healthcare, graphic systems, optical devices, highly functional materials, and other high-tech sectors and has grown to become Japan's pioneering photographic filmmaker. The company specialises in imaging, healthcare, business solutions, graphic arts, chemicals, and photos, among others.
Headquarters: Linköping, Sweden
Sectra AB is a Swedish firm that is active within medical technology and encrypted communication systems. Sectra helps hospitals worldwide enhance care efficiency and critical social functions, and authorities and defence forces in Europe, to protect society's most sensitive information using solutions and services in medical imaging IT and cybersecurity. The company specialises in voice and data encryption, imaging IT, cybersecurity, and security analysis and monitoring, among others.
Headquarters: Seoul, South Korea
INFINITT brings the latest technologies in artificial intelligence and data analytics to the daily clinical workflow with robust research and development capabilities and over 20 years of experience in providing medical imaging and information solutions. The company’s products and services are used by over 6,300 medical facilities and imaging centres worldwide to deliver quality patient care. The company specialises in PACS, enterprise imaging, data analytics, dose monitoring solution, fault prevention solution, and digital pathology solution, among others.
Headquarters: Armonk, New York, United States
IBM is an American multinational technology company. IBM produces and sells computer hardware, middleware, and software while also provides hosting and consulting services in various fields, from mainframe computers to nanotechnology. The company has more than 3,50,000 employees across 170 countries. The company specialises in research, analytics, consulting, experience design, internet of things, industry solutions, systems services, and IT infrastructure, among others.
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