Global Picture Archiving and Communications System (PACS) Market to Grow at a CAGR of 5.7% During 2024-2032, Driven by the Growing Technological Advancements in the Field of Healthcare

The global picture archiving and communications system (PACS) industry is anticipated to grow at a significant pace, owing to the penetration of information technology in the field of healthcare. The growing adoption of IT has enabled the healthcare sector in utilising diagnostic imaging to detect various disorders. The growing popularity of cloud-based technology is further bolstering the market growth. Growing government investments to improve healthcare infrastructure, growing demand for patient-centric approach, favourable reimbursement policies, and growing demand for hospitals and diagnostic centres are the factors bolstering the market growth.

Among the regions, North America is projected to accounts for a significant share in the industry growth in the forecast period. This growth of the market in the region is attributed to the availability of advanced healthcare infrastructures and the presence of the latest technology. The Asia Pacific is likely to provide fresh opportunities for the market growth as it is developing at a rapid pace. Developing economies like India and China have invested heavily on healthcare facilities and are encouraging healthcare IT adoption, which are expected to catalyse the growth of the picture archiving and communications system (PACS) industry.

Siemens Healthineers AG, General Electric Company, and FUJIFILM Holdings Corporation, among others, are some of the key players in the industry. The growing R&D activities and improved product launches by these manufacturers are expected to bolster the market growth. There is an increased penetration of these key players in the North America. Fujifilm has a significant presence in the United States surgical C-arm and radiographic fluoroscopy markets, which is strengthening the company’s position in the picture archiving and communications system (PACS) industry.

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Market Breakup by Component, Development Type, Imaging Type, Type, End Use, and Region:

• On the basis of component, the market is segmented into hardware, software, and services.

• Based on development type, the market is divided into on-premise, on-demand, and SAAS.

• By imaging type, the market is divided into X-ray, MRI, PET-CT, ultrasound, nuclear imaging, and others. Based on type the PET-CT market is further divided into oncology PACS, cardiology PACS, dental PACS, among others. On the basis of end use PET-CT is categorised into hospitals, diagnostic centres, ambulatory surgical centres, clinical/imaging centres, dental practices, research and academic institutes, among others.

• Based on type, the industry is segmented into cardiology PACS, dental PACS, orthopaedics PACS, and oncology PACS, among others.

• Region-wise, the market is categorised into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The global market for picture archiving and communications system is driven by the rapid IT adoption and technological advancements.

• The market is further propelled by the growing R&D activities and improved launches by the key manufacturers.

• The market is further aided by the growing innovation and efforts in order to improve healthcare facilities.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for picture archiving and communications system for the periods 2018-2023 and 2024-2032.

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the components, deployment types, imaging types, types, end uses, and major regions of picture archiving and communications system.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global picture archiving and communications system (PACS) market are INFINITT Healthcare Co., Ltd., General Electric Company, Siemens Healthineers AG, Sectra AB, FUJIFILM Holdings Corporation, IBM Corporation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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