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What is the Projected Compound Annual Growth Rate (CAGR) of the Specialty PACS Market from 2025 to 2034, and What Factors Influence It?

In recent times, the specialty PACS market has witnessed considerable growth. The market, which is estimated to be worth $3.16 billion in 2024, is projected to expand to $3.37 billion in 2025, signifying a compound annual growth rate (CAGR) of 6.4%. The surge in growth over the historical period can be linked to the escalating usage of visualization techniques, the rise in the acceptance of cloud-based solutions, an amplified emphasis on medical imaging within developing economies, the expansion of the geriatric populace, and an increase in healthcare spending.

In the coming years, the specialty pacs market is anticipated to experience significant growth. The market is forecasted to reach a value of $4.11 billion by 2029, growing at a compound annual growth rate of 5.1%. This growth during the predicted period can be associated with the increase in telemedicine and remote diagnostics, government initiatives and regulations, increasing occurrence of chronic diseases, and higher healthcare expenses. Key trends during this forecast period encompass the incorporation of artificial intelligence (AI), deployment of cloud-based PACS solutions, the expansion of telemedicine and teleradiology, improved security functions, and the development of customization and specialty-specific solutions.

What Key Drivers Are Accelerating the Growth of the Specialty PACS Market During the Forecast Period?

The expansion of the specialty PACS market is anticipated to be fueled by an increased emphasis on telemedicine. Telemedicine involves delivering healthcare services from a distance using various technological platforms, such as phone discussions, video conferencing, and other digital communications. The functionality of specialty PACS is directly associated with this increasingly significant role of telemedicine, as these systems play a critical role in enabling remote viewing of medical images, promoting teamwork in diagnostics, and enhancing patient care in numerous medical fields, including radiology. To illustrate, the Australian Bureau of Statistics, an official Australian governmental body, revealed in November 2023 that 23.6% of individuals had a remote health consultation with a general practitioner (GP). Therefore, the focus shift towards telemedicine stands as a key driver in the progression of the specialty PACS market.

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Who Are the Leading Players Fueling Growth in the Specialty PACS Market?

Major companies operating in the specialty PACS market are:

• McKesson Corporation_x000D_

• Siemens AG_x000D_

• International Business Machines Corporation_x000D_

• Oracle Corporation_x000D_

• Canon Inc._x000D_

What Are the Emerging Trends Shaping the Future of the Specialty PACS Market?

Leading firms in the specialty PACS market are concentrating their efforts on product innovation, incorporating aspects such as artificial intelligence (AI) and machine learning (ML) in an effort to boost their market revenues. The integration of AI and ML is targeted at propelling the next iteration of Picture Archiving and Communication System (PACS) onto the cloud while also refining AI-enabled tools to aid clinicians. For example, Koninklijke Philips N.V., a tech company based in the Netherlands, launched HealthSuite Imaging on Amazon Web Services (AWS) in November 2023. This initiative was designed to push the next wave of PACS to the cloud while enhancing AI-supported tools for clinicians. This cloud-based system is aimed at enabling radiologists and clinicians to quickly adopt emerging functionalities, boost operational efficiency, and improve patient care. By utilizing AWS, Philips is looking to offer faster image access speeds, dependable services, and superior healthcare data orchestration throughout the entire imaging workflow, from treatment to follow-up. Furthermore, Philips’ partnership with AWS will propel AI advancements in the healthcare sector by using Amazon Bedrock’s foundational models to expedite more accurate diagnoses and automate clerical tasks.

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Which Key Segments Stand Out in Understanding the Composition of the Specialty PACS Market?

The specialty PACS market covered in this report is segmented –

1) By Type: Radiology PACS, Cardiology PACS, Pathology PACS, Ophthalmology PACS, Orthopedics PACS, Oncology PACS, Dermatology PACS, Neurology PACS, Endoscopy PACS, Women’s Health PACS

2) By Deployment Model: On-Premise, Cloud-Based

3) By End-User: Hospitals, Ambulatory Surgery Centers And Clinics, Diagnostic Imaging Centers

Subsegments:

1) By Radiology PACS: Diagnostic Imaging PACS, Workflow Management PACS

2) By Cardiology PACS: Cardiac Imaging PACS, Electrocardiogram (ECG) PACS

3) By Pathology PACS: Digital Pathology PACS, Anatomic Pathology PACS

4) By Ophthalmology PACS: Retinal Imaging PACS, Optical Coherence Tomography (OCT) PACS

5) By Orthopedics PACS: Musculoskeletal Imaging PACS, Surgical PACS

6) By Oncology PACS: Radiation Therapy PACS, Oncology Imaging PACS

7) By Dermatology PACS: Skin Imaging PACS, Teledermatology PACS

8) By Neurology PACS: Neuroimaging PACS, EEG and EMG PACS

9) By Endoscopy PACS: Gastrointestinal Endoscopy PACS, Bronchoscopy PACS

10) By Women’s Health PACS: Mammography PACS, Obstetric And Gynecological Imaging PACS

Which Regions Are Driving Growth in the Specialty PACS Market?

North America was the largest region in the specialty PACS market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the specialty PACS market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

How Is the Specialty PACS Market Defined Across Different Regions?

A specialty picture archiving and communication system (PACS) refers to a specialized version of a PACS designed to meet the unique needs and requirements of a specific medical specialty or discipline. PACS is a comprehensive technology used in healthcare to store, retrieve, manage, and distribute medical images and associated data.

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