Ophthalmology PACS (Picture Archiving and Communication System) Market Worth $160.2 Million by 2023
PUNE, India, August 8, 2018 /PRNewswire/ --
According to a new market research report "Ophthalmology PACS (Picture Archiving and Communication System) Market by Type (Standalone, Integrated), Delivery (On-premise, Cloud), End User (Hospitals, Specialty Clinic, ASC), Region (North America (US, Canada) Europe, Asia) - Global Forecast to 2023", published by MarketsandMarkets™, the global market is projected to reach USD 160.2 million by 2023 from an estimated USD 106.6 million in 2018, at a CAGR of 8.5% during the forecast period.
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Browse 86 market data Tables and 33 Figures spread through 134 Pages and in-depth TOC on "Ophthalmology PACS (Picture Archiving and Communication System) Market"
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Rapid growth in the geriatric population, rising prevalence of eye diseases, limited number of ophthalmologists, government initiatives to encourage the adoption of EHR/EMR, and the increasing adoption of teleophthalmology are the factors driving the growth of the Ophthalmology PACS Market.
The integrated PACS segment is expected to dominate the Ophthalmology PACS Market in 2018.
Based on type, the Ophthalmology PACS Market is segmented into standalone and integrated PACS. Among these, the integrated PACS segment is expected to command the largest share of the Ophthalmology PACS Market in 2018. The advantages associated with the use of integrated PACS, such as ease of deployment and use, easy interoperability, data security, portability, and cost-effectiveness are driving the growth of this segment.
Based on delivery model, the web/cloud-based PACS segment is projected to grow at the highest CAGR during the forecast period.
Based on delivery model, the Ophthalmology PACS Market is segmented into on-premise and web/cloud-based models. The web/cloud-based PACS segment is expected to grow at the highest CAGR during the forecast period. The high growth rate can be attributed to the fact that, these models do not require any significant setup charges. Maintenance and support service charges are also included in subscription fees, which make these delivery models more affordable for customers.
The specialty clinics & ambulatory surgery centers segment is expected to dominate the Ophthalmology PACS Market in 2018.
Based on end user, the Ophthalmology PACS Market is segmented into hospitals, specialty clinics & ambulatory surgery centers, and other end users. In 2018, the specialty clinics & ambulatory surgical centers segment is expected to command the largest share of the Ophthalmology PACS Market. The growing patient pool for the diagnosis and treatment of cataracts in specialty clinics & ASCs due to cost-effective treatments is expected to propel the growth of the Ophthalmology PACS Market in this end-user segment.
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North America to dominate the market in 2018
In 2018, North America is expected to command the largest share of the market. With the growing aging population and increasing incidence of age-related eye diseases, the demand for technologies such as PACS is increasing in the North American region. Additionally, government initiatives towards digitization and increasing adoption of EHR/EMR and data storage & exchange solutions are the additional factors driving the adoption of ophthalmology PACS in this region.
While the Ophthalmology PACS Market represents significant growth opportunities, market growth may be hindered due to the high implementation and maintenance costs of these solutions. The Ophthalmology PACS Market is marked by the presence of several big and small players. Prominent players in this market include Carl Zeiss Meditec AG (Germany), Topcon Corporation (Japan), Heidelberg Engineering (Germany), Sonomed Escalon (US), Visbion (UK), EyePACS (US), and IBM Corporation (Merge Healthcare) (US).
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