The ophthalmology PACS market is estimated to be valued at USD 170.1 Mn in 2024, exhibiting a CAGR of 8.2% over the forecast period (2024-2031). With increasing adoption of electronic health records and growing use of telehealth and telemedicine, Picture Archiving and Communication Systems (PACS) are becoming increasingly vital for ophthalmology practices. Furthermore, advancements in technology such as cloud-based solutions and AI are enabling improved access and analysis of patient imaging data.
Market Dynamics:
The ophthalmology PACS market is primarily driven by the growing geriatric population worldwide which is more prone to ophthalmic disorders. According to WHO, the number of people aged 65 years and older is projected to grow from an estimated 524 million in 2010 to nearly 1.5 billion in 2050. Early detection and diagnosis of eye disorders is crucial, driving the need for more efficient management of patient images. Moreover, governments around the world are undertaking various initiatives to promote the adoption of digital healthcare technologies. For instance, under the Health Information Technology for Economic and Clinical Health (HITECH) Act of 2009, the U.S. government allocated funds to healthcare facilities adopting Electronic Health Records (EHRs) and PACS. Such favorable government policies are expected to boost the ophthalmology PACS market growth.
Major Driver: Growing prevalence of eye diseases
The prevalence of various eye diseases such as age-related macular degeneration, diabetic retinopathy, glaucoma, and others has been increasing significantly. This is mainly due to factors such as rising geriatric population, increasing lifestyle diseases, etc. PACS systems help ophthalmologists efficiently store, view, share, and track patient data and images related to these various eye conditions. This growing disease burden is expected to drive the demand for ophthalmology PACS in the coming years.
Benefits of digital image management
Ophthalmology PACS provide various benefits over traditional film-based image management systems. Digital images can be easily accessed from multiple locations, shared over networks, integrated with EMR systems and allow remote interpretation. This improves workflow efficiency. Digitized images also facilitate easy archival and retrieval. They eliminate costs associated with traditional films such as processing, storing, and disposing of films. Transition from conventional film-based workflow to digital image management solutions helps ophthalmologists improve patient outcomes in a more cost-effective manner. This is a key factor propelling the ophthalmology PACS market growth.
Major Restraint: High initial costs
Setting up an ophthalmology PACS involves significant initial investments including hardware, software, and networking infrastructure. This makes it difficult for small clinics and private practices to adopt these systems. Costs associated with system integration, maintenance, upgrades, and training also add to the expenses. High initial costs pose a major challenge, especially in price-sensitive developing markets. This can restrain the ophthalmology PACS market growth in the short-run.
Interoperability issues
Lack of compatibility and interoperability between different vendor's PACS solutions and with other hospital IT systems is a long-standing challenge.This hinders seamless information flow. Suboptimal integration increases the risk of medical errors and reduces efficiency gains. Interoperability issues demotivate healthcare providers from investing in ophthalmology PACS and related IT upgrades until universally accepted interface standards are developed. This acts as a barrier for the market in the near future.
Major Opportunity: Growing teleophthalmology market
Rising implementation of teleophthalmology and telemedicine provides significant opportunities for ophthalmology PACS vendors. Remote diagnosis, consultations, screening, and ongoing management supported by PACS help expand access to eye care, especially in underserved rural areas. This augments early detection and treatment as well. Integration of PACS with teleophthalmology solutions will help tap the growing telemedicine industry. Vendors can strengthen their positions by offering end-to-end teleophthalmology-enabled solutions.
Emerging economies in Asia Pacific and Latin America
Many developing countries in Asia Pacific and Latin America regions face a growing yet unmet demand for eyecare due to shortages and high patient volumes. At the same time, healthcare infrastructures in these markets are rapidly evolving supported by government initiatives. Vendors can leverage these favorable macro-level trends by customizing affordable PACS solutions, offering favorable financing and collaboration models to suit resource-constrained settings. This is expected to boost revenue generation and market expansion in Asia Pacific and Latin America over the coming decade.
Link: https://www.coherentmarketinsights.com/market-insight/ophthalmology-pacs-market-5269
Key Development
- In May 2022, OMNY Health, a healthcare ecosystem that connects providers and life sciences companies, collaborated with community-based ophthalmology practices to introduce a real-world data ecosystem aimed at fostering collaborative research partnerships to advance treatments and enhance outcomes for patients with ophthalmic disorders
- In April 2022, ZEISS Medical Technology, a diagnostic equipment company, obtained FDA approval for its groundbreaking product, QUATERA 700, which represents a significant advancement in phaco technology. The ZEISS QUATERA 700 is engineered to enhance a surgeon's workflow efficiency from the clinic to the operating room (OR), facilitating a digitally integrated surgical workflow.
- In April 2021, Carl Zeiss Meditec, a leading medical technology company, acquired two surgical equipment manufacturers, Kogent Surgical and Katalyst Surgical, in an effort to expand its business and provide enhanced surgical solutions, particularly for ophthalmic medical conditions
- In November 2020, EyeMD EMR Healthcare Systems Inc., a prominent supplier of Electronic Medical Records (EMR) software tailored for ophthalmologists, introduced EyeMD EMR 2.0, a comprehensive EMR, PM, and PACS system, at the American Academy of Ophthalmology (AAO) Virtual Conference that occurred from November 13 to 15, 2020. AAO is the largest association of eye physicians and surgeons globally.
Key Players: 3D Systems, Canadian Aviation Electronics (CAE), 3B Scientific GmbH Inc. (Cardionics Inc.), Gaumard Scientific Company Inc., Kyoto Kagaku Co. Ltd, Laerdal Medical, Limbs & Things Ltd, Medaphor, Entice AB, Nasco, Operative Experience, Inc., Simulab Corporation, Simulaids Inc., VirtaMed AG, MedVision, Biomed Simulation.
