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PACS and RIS Market is Predicted to Grow at a CAGR of 7.4% During 2019-2027
PACS and RIS Market
According to The Insight Partners market research study titled 'PACS and RIS Market to 2027 - Global Analysis and Forecasts by Product, Component, Deployment, and End User.' The Global PACS and RIS Market is expected to reach US$ 5,008.93 Mn in 2027 from US$ 2,728.43 Mn in 2018. The market is estimated to grow with a CAGR of 7.4% from 2019-2027. The report highlights the trends prevalent in the global PACS and RIS market and the factors driving the market along with those that act as deterrents to its growth.
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Global PACS and RIS market, based on the product, was segmented as, Picture archiving and communication system (PACS) and radiology information system (RIS). In 2018, PACS held the largest share of the market, by product. In addition, the segment is also anticipated to grow at a significant rate during the forecast period. The solution offers benefits such as improved viewing and analysis, easy access to images and other reports, efficient data management as well as a user-friendly interface, these factors are anticipated to lead to the growth of the segment during the forecast period.
The market for PACS and RIS is expected to grow, owing to factors such as developments in diagnostic imaging modalities coupled with the rising number of diagnostic tests procedures, affordable price of new generation PACS software and new product launches & FDA approvals. In addition, increasing demand for orthopaedic PACS likely to have a positive impact on the growth of the market in the coming years.
The major players operating in the PACS and RIS market include, McKesson Corporation, General Electric, Fujifilm Holdings Corporation, Koninklijke Philips N.V., Siemens AG, Cerner Corporation, IBM, Novarad, Agfa-Gevaert Group, and INFINITT Healthcare Co., Ltd. The market has witnessed various organic as well as inorganic developments during recent years in the PACS and RIS market.
During September 2018, Novarad Corporation entered into a contract with Brown University Health Services to provide PACS and RIS software. The solution offers enhanced control over study information as well as an increased capacity for care both inside as well as outside of the facility, especially while referring physicians. These properties have led to increased adoption of the solution among the customers.
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The report segments the global PACS and RIS market as follows:
Global PACS and RIS Market - By Component
Hardware
Software
Services
Global PACS and RIS Market - By Deployment
Web-Based
On-Premise
Cloud-Based
Global PACS and RIS Market - By End User
Hospitals
Diagnostic Centers
Other End Users
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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Semiconductors, Healthcare, Manufacturing, Automotive and Defense.
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