The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

Market Overview

• Current Size and Growth: The specialty PACS (Picture Archiving and Communication System) market grew from $2.96 billion in 2023 to $3.16 billion in 2024, marking a compound annual growth rate (CAGR) of 6.7%.
• Historical Drivers:
  • Growing use of visualization technologies
  • Increased adoption of cloud-based solutions
  • Focus on medical imaging in emerging economies
  • Rising geriatric population
  • Increased healthcare expenditure

Future Projections

• Forecasted Growth: The market is expected to expand to $3.92 billion by 2028.
• Forecast CAGR: Anticipated CAGR of 5.5%.
• Forecast Drivers:
  • Rise in telemedicine and remote diagnostics
  • Government initiatives and regulations
  • Rising incidence of chronic diseases
  • Increasing healthcare expenditure
• Major Trends:
  • Integration of artificial intelligence (AI)
  • Adoption of cloud-based PACS solutions
  • Growth in telemedicine and teleradiology
  • Enhanced security features
  • Customization and specialty-specific solutions

View More On The Specialty PACS Market Report 2024 – https://www.thebusinessresearchcompany.com/report/specialty-pacs-global-market-report

Impact of Telemedicine

• Role in Market Growth: Telemedicine’s growth is driving the expansion of the specialty PACS market.
• Definition: Telemedicine involves providing medical services remotely through technology like video calls and electronic communications.
• Relevance: Specialty PACS systems are essential for remote access to medical images, fostering collaborative diagnostics, and improving patient care.
• Statistics: According to the 2022 Digital Health Consumer Adoption Survey by Rock Health, 80% of U.S. adults have used telemedicine, a significant increase from previous years. Notably, 82% of Hispanic respondents reported telemedicine use.

Key Companies in the Market

• Major Players:
  • McKesson Corporation
  • Siemens AG
  • International Business Machines Corporation (IBM)
  • Oracle Corporation
  • Canon Inc.
  • Fujifilm Holdings Corporation
  • Koninklijke Philips N.V.
  • Topcon Corporation
  • Neusoft Medical Systems Co. Ltd.
  • Carestream Health Inc.
  • Onex Corporation
  • Agfa HealthCare NV
  • Hitachi Healthcare Systems Inc.
  • Sectra AB
  • Advanced Data Systems Inc.
  • Mach7 Technologies Ltd.

Innovations and Acquisitions

• AI and Cloud Integration:
  • Example: In November 2023, Koninklijke Philips N.V. launched HealthSuite Imaging on Amazon Web Services (AWS).
  • Features: Advanced AI tools and cloud-based PACS designed to enhance image access, improve efficiency, and support faster adoption of new capabilities.
  • Benefits: Improved image access speeds, reliability, and data orchestration for radiologists and clinicians.
• Recent Acquisition:
  • Experity Acquires OnePACS: In August 2023, Experity acquired OnePACS.
  • Objective: Enhance teleradiology capabilities within on-demand healthcare services. OnePACS specializes in PACS for teleradiology practices.

Market Segmentation

• By Type:
  • Radiology PACS
  • Cardiology PACS
  • Pathology PACS
  • Ophthalmology PACS
  • Orthopedics PACS
  • Oncology PACS
  • Dermatology PACS
  • Neurology PACS
  • Endoscopy PACS
  • Women’s Health PACS
• By Deployment Model:
  • On-Premise
  • Cloud-Based
• By End-User:
  • Hospitals
  • Ambulatory Surgery Centers and Clinics
  • Diagnostic Imaging Centers

Regional Insights

• Current Leading Region: North America was the largest market for specialty PACS in 2023.
• Future Growth: Asia-Pacific is expected to be the fastest-growing region in the forecast period.

The specialty PACS market is set for robust growth, driven by technological advancements, increased telemedicine adoption, and ongoing improvements in cloud-based solutions. With major companies investing in AI and cloud technologies, the market is poised to enhance diagnostic capabilities and streamline healthcare delivery.

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