Picture Archiving and Communication System Market to Record a CAGR of 5.89%, Vendors to Deploy Vendors are Deploying Organic and Inorganic Growth Strategies - Technavio

NEW YORK, Oct. 4, 2022 /PRNewswire/ -- The picture archiving and communication (PACS) market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market. The competition in the market is intense, with the presence of tier-1 and tier-2 companies and small companies. The presence of software providers will intensify the competition. Distribution partnerships can help tier-1 and tier-2 companies to grow in the market. Tier-1 companies account for most of the overall market share. They enter into M&A to manufacture and form distribution partnerships. Tier-2 and tier-3 companies provide software solutions for enhancing PACS in healthcare facilities.

Technavio has announced its latest market research report titled Global Picture Archiving and Communication System Market 2022-2026
Technavio has announced its latest market research report titled Global Picture Archiving and Communication System Market 2022-2026

The "Picture Archiving and Communication System Market by Product (Mid-end PACS, Enterprise PACS, and Mini PACS), Application (Radiology PACS, Cardiology PACS, and Pathology PACS), and Geography (North America, Europe, Asia, and Rest of World (ROW)) - Forecast and Analysis 2022-2026" report has been added to Technavio's offering. The potential growth difference for the picture archiving and communication system market size between 2021 and 2026 is USD 1.34 billion. To get the exact yearly growth variance and the Y-O-Y growth rate, Request a FREE PDF Sample Report

Key Market Dynamics

Government initiatives that encourage the adoption of IT in healthcare are driving the picture archiving and communication system market growth. However, factors such as high equipment costs may challenge the market growth during the forecast period.

Technavio has identified key trends, drivers, and challenges in the market, which will help vendors improve their strategies to stay ahead of their competitors. View our FREE PDF Sample Report

Market Segmentation

By product, the mid-end PACS segment will be the largest contributor to market growth during the forecast period. PACS helps in connecting small hospitals and medical centers with multi-modality medical imaging systems. The market penetration of mid-end PACS is high owing to the growing need for integrated teleradiology networks. The change in the healthcare IT sector is further driving their adoption. Mid-end PACS are used in radiology and cardiology departments for data management through various medical imaging equipment such as magnetic resonance imaging (MRI), computed tomography (CT), mammography, and ultrasound.

North America will be the leading region with 50% of the market's growth during the forecast period. The US is the key country for the picture archiving and communication system market in North America. The growth of this region is attributed to factors such as the use of cloud computing in the healthcare sector. Moreover, market growth in this region will be faster than the growth of the market in other regions.

View our FREE PDF Sample Report for additional insights into the contribution of all the segments and regional opportunities in the report.

Some Companies Mentioned

  • 314e Corp.

  • Agfa Gevaert NV

  • Apollo Enterprise Imaging Corp.

  • Ashva Technologies Pvt. Ltd.

  • Carestream Health Inc.

  • Cerner Corp.

  • Dell Inc.

  • Esaote Spa

  • FUJIFILM Holdings Corp.

  • General Electric Co

  • Intelerad Medical Systems Inc.

  • International Business Machines Corp.

  • Koninklijke Philips NV

  • Laitek Inc.

  • Lexmark International Inc.

  • McKesson Corp.

  • Novarad Corp.

  • PaxeraHealth

  • Sectra AB

  • Siemens AG

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Picture Archiving And Communication System Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 5.89%

Market growth 2022-2026

USD 1.34 billion

Market structure

Fragmented

YoY growth (%)

5.75

Regional analysis

North America, Europe, Asia, and Rest of World (ROW)

Performing market contribution

North America at 50%

Key consumer countries

US, Japan, China, Germany, and UK

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

314e Corp., Agfa Gevaert NV, Apollo Enterprise Imaging Corp., Ashva Technologies Pvt. Ltd., Carestream Health Inc., Cerner Corp., Dell Inc., Esaote Spa, FUJIFILM Holdings Corp., General Electric Co, Intelerad Medical Systems Inc., International Business Machines Corp., Koninklijke Philips NV, Laitek Inc., Lexmark International Inc., McKesson Corp., Novarad Corp., PaxeraHealth, Sectra AB, and Siemens AG

Market Dynamics

Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Key Topics Covered

1 Executive Summary

  • 1.1 Market overview

2 Market Landscape

  • 2.1 Market ecosystem

3 Market Sizing

  • 3.1 Market definition

  • 3.2 Market segment analysis

  • 3.3 Market size 2021

  • 3.4 Market outlook: Forecast for 2021-2026

4 Five Forces Analysis

  • 4.1 Five forces summary

  • 4.2 Bargaining power of buyers

  • 4.3 Bargaining power of suppliers

  • 4.4 Threat of new entrants

  • 4.5 Threat of substitutes

  • 4.6 Threat of rivalry

  • 4.7 Market condition

5 Market Segmentation by Product

  • 5.1 Market segments

  • 5.2 Comparison by Product

  • 5.3 Mid-end PACS - Market size and forecast 2021-2026

  • 5.4 Enterprise PACS - Market size and forecast 2021-2026

  • 5.5 Mini PACS - Market size and forecast 2021-2026

  • 5.6 Market opportunity by Product

6 Market Segmentation by Application

  • 6.1 Market segments

  • 6.2 Comparison by Application

  • 6.3 Radiology PACS - Market size and forecast 2021-2026

  • 6.4 Cardiology PACS - Market size and forecast 2021-2026

  • 6.5 Pathology PACS - Market size and forecast 2021-2026

  • 6.6 Market opportunity by Application

7 Customer Landscape

  • 7.1 Customer landscape overview

8 Geographic Landscape

  • 8.1 Geographic segmentation

  • 8.2 Geographic comparison

  • 8.3 North America - Market size and forecast 2021-2026

  • 8.4 Europe - Market size and forecast 2021-2026

  • 8.5 Asia - Market size and forecast 2021-2026

  • 8.6 Rest of World (ROW) - Market size and forecast 2021-2026

  • 8.7 US - Market size and forecast 2021-2026

  • 8.8 Germany - Market size and forecast 2021-2026

  • 8.9 Japan - Market size and forecast 2021-2026

  • 8.10 China - Market size and forecast 2021-2026

  • 8.11 UK - Market size and forecast 2021-2026

  • 8.12 Market opportunity by geography

9 Drivers, Challenges, and Trends

  • 9.1 Market drivers

  • 9.2 Market challenges

  • 9.3 Impact of drivers and challenges

  • 9.4 Market trends

10 Vendor Landscape

  • 10.1 Overview

  • 10.2 Vendor landscape

  • 10.3 Landscape disruption

  • 10.4 Industry risks

11 Vendor Analysis

  • 11.1 Vendors covered

  • 11.2 Market positioning of vendors

  • 11.3 Apollo Enterprise Imaging Corp.

  • 11.4 Dell Inc.

  • 11.5 FUJIFILM Holdings Corp.

  • 11.6 General Electric Co

  • 11.7 Intelerad Medical Systems Inc.

  • 11.8 International Business Machines Corp.

  • 11.9 Koninklijke Philips NV

  • 11.10 PaxeraHealth

  • 11.11 Sectra AB

  • 11.12 Siemens AG

12 Appendix

  • 12.1 Scope of the report

  • 12.2 Inclusions and exclusions checklist

  • 12.3 Currency conversion rates for US$

  • 12.4 Research methodology

  • 12.5 List of abbreviations

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