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VNA & PACS Market to Reach $4.89 Billion by 2027, Growing at a CAGR of 6.7% From 2020 With COVID-19 Impact - Meticulous Research® Analysis

VNA Market and PACS Market by Procurement (Departmental and Enterprise), Delivery (On Premise, Hybrid, Cloud Based), Vendor (PACS, Independent Software, Infrastructure), and End User (Hospitals, Diagnostic Imaging Centers) – Global Forecast to 2027

/EIN News/ -- London, Jan. 14, 2021 (GLOBE NEWSWIRE) -- In its latest publication, titled “VNA Market and PACS Market by Procurement (Departmental and Enterprise), Delivery (On Premise, Hybrid, Cloud Based), Vendor (PACS, Independent Software, Infrastructure), and End User (Hospitals, Diagnostic Imaging Centers) – Global Forecast to 2027”, Meticulous Research® states that the VNA & PACS market is expected to grow at a CAGR of 6.7% from 2020 to 2027 to reach at $4.89 billion by 2027.

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Medical image management solutions, including VNA & PACS, are used for aiding diagnosis, comparing images between patients or within the same patient at different time points to assess the progress of the disease, and evaluating prognosis. Medical image management solutions also allow the integration of medical image data with patient data in other records, such as the electronic health record, health information system, and radiology information system (RIS).

Factors such as the growing investments in the medical imaging market, technological advancements in diagnostic imaging modalities, rising geriatric population, growing demand for advanced imaging equipment, rapidly growing big data in healthcare, and growing healthcare IT & EHR adoption are driving the growth of the VNA & PACS market. In addition, integration of PACS/VNA with EMR, penetration of AI in medical imaging, rapidly growing telehealth market, and rising adoption of hybrid cloud-based solutions offer significant growth opportunities for players operating in the VNA & PACS market. However, the longer product lifecycle of VNAs and budgetary constraints are expected to hinder the growth of the VNA & PACS market to a certain extent.

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To provide an efficient analysis, Meticulous Research® has segmented the VNA and PACS market on the basis of procurement model (departmental PACS and enterprise PACS); VNA  market, by procurement model (departmental VNA and enterprise VNA), by delivery model (on-premise VNA, hybrid VNA, and fully cloud-based VNA), by vendor type (PACS, independent software, infrastructure vendors); by end user (hospital, diagnostic imaging centers, and others); and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa).

Based on procurement model, the PACS market is segmented into departmental and enterprise PACS. In 2020, the departmental PACS segment accounted for the largest share of the overall PACS market. Factors such as significant adoption of PACS in radiology departments and rising incorporation of PACS into other specialties such as cardiology, ophthalmology, oncology, endoscopy, teleradiology, dermatology, pathology, neurology, and dentistry are driving the growth of this segment.

Based on delivery model, the PACS market is segmented into on-premise and web/cloud-based PACS. In 2020, the on-premise PACS segment accounted for the largest share of the overall PACS market. This can be attributed to various advantages offered by on-premise PACS, such as high security, control over images, and comparatively lower latency than web/cloud-based PACS.

Based on vendor type, the VNA market is segmented into PACS, independent software, and infrastructure/storage vendors. In 2020, the independent software vendors accounted for the largest share of the overall VNA market. An increasing number of hospitals, community centers, and diagnostic imaging centers are turning towards independent software vendors due to their vast experience and better functionality, scalability, integration, and support.

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Based on end user, the VNA and PACS market is segmented into hospitals, diagnostic imaging centers, and others. In 2020, the hospitals segment accounted for the largest share of the overall VNA & PACS market. The large share of this segment can be attributed to the growing number of hospital admissions, rising number of hospitals in developing countries, adoption of VNAs in hospitals, and growing demand for enterprise-wide image data management in hospitals.

Geographically, North America commanded the largest share of the global VNA & PACS market in 2020, followed by Europe and Asia-Pacific. However, Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. The factors driving the APAC market include rising investment in the healthcare sector, rising installation of imaging modalities, and government initiatives to increase the utilization of EMR & telehealth services.

The VNA & PACS market is highly competitive. The PACS industry is dominated by GE, Koninklijke Philips N.V., and FUJIFILM Holdings Corporation; whereas, in the VNA industry, IBM Corporation, GE, and FUJIFILM Holdings Corporation (Japan) held dominant positions. Some of the other key players operating in these markets are Novarad Corporation (U.S.), INFINITT Healthcare Co., Ltd. (South Korea), Siemens Healthineers AG (Germany), Hyland Software, Inc. (U.S.), Agfa-Gevaert Group (U.S.), Mach7 Technologies (U.S.), BridgeHead Software Ltd. (U.K.), Sectra AB (Sweden), ASPYRA, LLC (U.S.), and Change Healthcare Inc. (U.S.), among others.

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Scope of the Report:

PACS Market, by Procurement Model

  • Departmental PACS
    • Radiology PACS
    • Cardiology PACS
    • Others Departmental PACS
  • Enterprise PACS

PACS Market, by Delivery Model

  • On-premise PACS
  • Web-based PACS

VNA Market, by Procurement Model

  • Enterprise VNA
    • Multi-Departmental VNA
    • Multi-Site VNA
  • Departmental VNA

VNA Market, by Delivery Model

  • On-Premise VNA
  • Hybrid VNA
  • Fully Cloud-based VNA

VNA Market, by Vendor Type

  • PACS Vendors
  • Independent Software Vendors
  • Infrastructure Vendors

VNA & PACS Market, by End User

  • Hospitals
  • Diagnostic Imaging Centers
  • Other End Users

VNA & PACS Market, by Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Rest of Europe (RoE)
  • Asia-Pacific (APAC)
    • Japan
    • China
    • India
    • Rest of APAC (RoAPAC)
  • Latin America
  • Middle East & Africa

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Meticulous Research®
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