Vendor Neutral Archive and PACS market is valued at USD 3.26 Billion in 2018

Market Overview

Global VNA & PACS market size valued at USD 3.26 Billion in the year 2018 and it is expected to reach USD 4.3 Billion by 2023 with 5.8% CAGR. Vendor Neutral Archive is supposed to offer a better control and secure sharing of data. Where Picture Archiving and Communication Systems allows healthcare organizations to capture, store, retrieve, transmit and manage medical images.

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Factors affecting market growth:

Government initiations towards the VNA and PACS market. (+)
Increased demand for Standard based storage, disaster recovery and life cycle management solutions. (+)
Consolidation of patient data by incorporating VNA’s with electronic health records. (+)
Data Breach incidences and misinterpretation of the VNA and long VNA lifecycles impacts buying decisions of users (-)
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Market Segmentation

The Global VNA & PACS market is geographically segmented into

North America
Europe
Asia Pacific
Latin America
Middle East and Africa
North America leads the market with the largest consumer base in the world followed by Europe and Asia. The Asia Pacific market, which consists of fast-developing economies, has remained largely untapped. However, this market is expanding steadily and is witnessing rapid growth at present, owing to the increasing adoption of information technology. Developing countries have a huge patient base and thus the necessity for the VNA and PACS technologies is more in this market.

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Key players:

The major companies dominating this market for its products and services are Acuo Technologies (U.S.), which leads the global VNA market, followed by Agfa HealthCare (Belgium), Carestream Health (U.S.), Dell, Inc. (U.S.), BridgeHead Software (U.K.), Fujifilm Corporation (Japan), Merge Health (U.S.), GE Healthcare (U.K.), Philips Healthcare (The Netherlands), Siemens Healthcare (Germany), McKesson Corporation (U.S.), and TeraMedica (U.S.).

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This release was published on openPR.