Insights on the Specialty PACS Global Market to 2027 - Featuring Escalon Medical, IBM and Siemens Among Others

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Apr 14, 2022, 10:30 ET

DUBLIN, April 14, 2022 /PRNewswire/ -- The "Global Specialty PACS Market Size, Share & Industry Trends Analysis Report By Deployment Model, By Type, By End User (Hospitals & Clinics, Ambulatory Surgical Centers, and Others), By Regional Outlook and Forecast, 2021-2027" report has been added to ResearchAndMarkets.com's offering.

The Global Specialty PACS Market size is expected to reach $3.6 billion by 2027, rising at a market growth of 4.9% CAGR during the forecast period.

The enhancements in biomedical technologies have improved the way of doctors analyze patients' data. The PACS systems are one of such technological advancements. PACS refers to picture archiving & communication skill systems, which is an imaging technology mainly used by the healthcare industry.

The PACS helps in the transmission of the image from the site of acquisition to multiple locations that require the image. The picture archiving & communication system is capable to access multiple models like CT, radiographs, ultrasound, and MRI at the same time on multiple locations within the hospitals as well as across different areas.

The main function of PACS is to make image viewing easier and help to manage the medical data. For example, to match the requirements of technology in the healthcare sector, the JPI healthcare solutions designed ExamVue PACS. The ExamVue PACS can be used by large as well as small hospitals with a limit of 10 viewers. This software can easily be installed across the office to show the x rays of patients as well as to perform diagnoses in the private office.

The World Health Organization predicts that the population of people with the age of 60 or more will increase up to 2 billion by 2050 in the world, which is expected to result in the demand for healthcare services. Moreover, the increasing investment in medical imaging will boost the demand for specialty PACS. The major factor responsible for the increased load on healthcare sector is the rising number of scans among various small & large medical facilities.

COVID-19 Impact Analysis

The outbreak of the COVID-19 pandemic has impacted almost all the industries across the world. The pandemic has brutally affected the specialty PACS market which has recorded a decrease in the demand for PACS devices.

In addition, the disturbance in import & export of raw material as well as final products, less production due to the complete lockdown along with various other restrictions imposed by the government authorities resulted in disrupted supply chain. Also, the increased number of healthcare workers falling ill in the pandemic has led to the less productivity. The decline in hospital visits due to the risk of coronavirus spread has resulted in reduced demand for PACS systems in the market.

Market Growth Factors:

Increasing geriatric population

The number of aged population is continuously rising in the world. Various problems are accompanied by the aging of the musculoskeletal system which results in changes in bones and soft tissues. The risk of fractures due to alteration in bone-like osteoporosis & osteomalacia is more in old age people. Osteoarthritis is one of the common musculoskeletal diseases found in the elder population. Thus, the surgeries in old age people is also high due to high spread of chronic diseases.

Advantages associated with specialty PACS

The adoption of picture archiving & communication systems (PACS) has changed the working style of the healthcare industry. The technological advancements have made it possible for physicians to share medical images report electronically with ease and in less time with the help of PACS systems. The main advantage of PACS systems is that it provides digital imaging which enables medical professionals to have a closer and clear look at images.

Marketing Restraining Factor:

Inefficiency of PACS systems

Instead of various benefits associated with the use of PACS systems for imaging, the PACS system can also be a confusing decision for the radiology providers and outpatient imaging centers. Each center deals with the different situations and thus requires different specialized solution. The PACS systems mainly focus on the needs of radiology facilities of healthcare centers, whereas the administrators of imaging centers do not have the same requirements as hospital administrators which sometime make the PACS system inefficient for such imaging centers.

Key Topics Covered:

Chapter 1. Market Scope & Methodology

Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints

Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2017-2021)
3.3.2 Key Strategic Move: (Partnership, Collaborations and Agreements: 2017, Jul - 2022, Jan) Leading Players

Chapter 4. Global Specialty PACS Market by Deployment Model
4.1 Global On premises Market by Region
4.2 Global Cloud-based Market by Region

Chapter 5. Global Specialty PACS Market by Type
5.1 Global Radiology PACS Market by Region
5.2 Global Orthopedics PACS Market by Region
5.3 Global Oncology PACS Market by Region
5.4 Global Pathology PACS Market by Region
5.5 Global Ophthalmology PACS Market by Region
5.6 Global Women's health PACS Market by Region
5.7 Global Other Type Market by Region

Chapter 6. Global Specialty PACS Market by End User
6.1 Global Hospitals & Clinics Market by Region
6.2 Global Ambulatory Surgical Centers Market by Region
6.3 Global Others Market by Region

Chapter 7. Global Specialty PACS Market by Region

Chapter 8. Company Profiles
8.1 Novarad Enterprise Healthcare Solutions
8.1.1 Company Overview
8.1.2 Recent Strategies and developments:
8.1.2.1 Partnerships, Collaborations and Agreements:
8.1.2.2 Product Launches and Product Expansions:
8.2 Escalon Medical Corp.
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Regional Analysis
8.2.4 Research & Development Expenses
8.3 IBM Corporation
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Regional & Segmental Analysis
8.3.4 Research & Development Expenses
8.3.5 Recent Strategies and developments:
8.3.5.1 Partnerships, Collaborations and Agreements:
8.3.5.2 Product Launches and Product Expansions:
8.4 Siemens AG
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Segmental and Regional Analysis
8.4.4 Research & Development Expense
8.4.5 Recent Strategies and developments:
8.4.5.1 Partnerships, Collaborations and Agreements:
8.4.5.2 Product Launches and Product Expansions:
8.4.5.3 Acquisitions and Mergers:
8.4.6 SWOT Analysis
8.5 Canon, Inc.
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Segmental and Regional Analysis
8.5.4 Research & Development Expenses
8.5.5 Recent Strategies and developments:
8.5.5.1 Partnerships, Collaborations and Agreements:
8.5.5.2 Product Launches and Product Expansions:
8.6 INFINITT Healthcare Co. Ltd.
8.6.1 Company Overview
8.6.2 Recent Strategies and developments:
8.6.2.1 Partnerships, Collaborations and Agreements:
8.7 Koninklijke Philips N.V.
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Segmental and Regional Analysis
8.7.4 Research & Development Expense
8.7.5 Recent Strategies and developments:
8.7.5.1 Product Launches and Product Expansions:
8.7.5.2 Acquisitions and Mergers:
8.8 McKesson Corporation
8.8.1 Company Overview
8.8.2 Financial Analysis
8.8.3 Segmental Analysis
8.8.4 Research & Development Expense
8.9 Carestream Health, Inc. (Onex Corporation)
8.9.1 Company Overview
8.10. Topcon Corporation
8.10.1 Company Overview
8.10.2 Financial Analysis
8.10.3 Segmental and Regional Analysis
8.10.4 Recent Strategies and developments:
8.10.4.1 Partnerships, Collaborations and Agreements:
8.10.4.2 Acquisitions and Mergers: