PICTURE ARCHIVING AND COMMUNICATION SYSTEM (PACS) MARKET ANALYSIS

Picture Archiving And Communication System (Pacs) MarketSize and Trends

The global picture archiving and communication system (PACS) market size was valued at US$ 1,712.1 million in 2017 and is expected to witness a robust CAGR of 5.5% over the forecast period (2018–2026).

Growing healthcare IT adoption coupled with increasing demand for diagnostic imaging are expected to drive global picture archiving and communication system market revenue growth over the forecast period. For instance, according to a survey from Healthcare’s Digital Future, in 2014, over 70% patients aged above 50 years demanded for digital healthcare services. Demand for diagnostic medical imaging in a large integrated health system is growing at a faster pace due to rising popularity among patients and physicians. Furthermore, increased demand for universalization of medical image archiving and storage of all formats of medical data is expected to fuel PACS market growth during the forecast timeframe.

Picture Archiving and Communication System (PACS) is a medical imaging technology used for storing, retrieving, sharing and presenting images produced by various medical devices, such as ultrasound, CT scan, X-ray, and MRI machines The technology have been majorly used in healthcare systems and in hospitals. due to radiology departments which produces large number of medical images. PACS technologies also include images produced by other departments such as dermatology, oncology, pathology and cardiology.

Healthcare enterprises require PACS infrastructure that allow to view a multi-site, multi-system environment combined, and manages the complete reporting and imaging lifecycle.

Figure 1. Global Picture Archiving and Communication System (PACS) Market Value (US$ Mn), by Region, 2018

Source: Coherent Market Insights Analysis (2018)