Transparency Market Research

Asia Pacific PACS and RIS Market to Expand at Highest CAGR of 8.4% from 2016 to 2024

Transparency Market Research Report Added "PACS and RIS Market" to its database.


Albany, NY -- (SBWIRE) -- 01/09/2017 -- According to a new market report published by Transparency Market Research "PACS and RIS Market – (By Product – RIS and PACS; By Component – Hardware, Software, and Services; By Deployment – Web-based, Cloud-based, and On-premise; By End-user – Hospitals, Diagnostic Centers, Research & Academic Institutes, and Ambulatory Surgical Centers) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016–2024", the global PACS and RIS market was valued at US$ 2.2 Bn in 2015 and is projected to expand at a CAGR of 7.0% during the forecast period from 2016 to 2024 to reach US$ 3.9 Bn in 2024.

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PACS and RIS are being utilized more than conventional systems for medical imaging. PACS and RIS are the right choices for a sustainable future. Adoption of PACS and RIS is increasing in a number of health care facilities and high-value products, such as cardiology PACS, orthopedic PACS, and oncology PACS. Rising concerns about medical devices connected to integrated delivery networks and hospital computer networks including image-producing hardware such as MRI machines present both cyber security and patient safety concerns. PACS and RIS have been successful in hospitals and ambulatory surgical centers. However, ambulatory surgical centers hold immense potential due to in time health diagnosis and treatment.

Geographically, North America was the largest market for PACS and RIS in 2015. The region accounted for a share of over 45% of the global PACS and RIS market in the same year. Rising health care demand and substantial government interventions for research and development are the major factors supporting market growth. The PACS segment in North America accounted for the largest share in 2015. Wide range of applications including cardiology and oncology are likely to support the growth of the segment.

Europe comprises major countries such as Germany, France, the U.K., Spain, and Italy, along with other countries. Germany and the U.K. accounted over 48% share of the PACS and RIS market in Europe in 2015. The spurt in demand for cardiology PACS and other PACS is likely to support the growth of the PACS and RIS market in Europe. Demand for services and hardware component segments is high in the Europe PACS and RIS market, followed by software segment. Demand for services is high in the market because of regular updates of software and hardware. In terms of deployment, the web-based segment accounted for a high market share in Europe due its multi-modality support for efficient workflow management of medical imaging practices at a number of locations. Moreover, hospitals end-users segment dominates the Europe PACS and RIS market due to increased number health examinations and growing need for data management and proper flow of information.

Asia Pacific comprises countries such as India, China, Japan, and Rest of Asia Pacific. The PACS and RIS market in Asia Pacific is anticipated to witness the fastest growth rate during the forecast period due to difficulty in tracking medical records on paper because of increasing number of medical images. Hence, adoption of electronic medical records and PACS and RIS is anticipated to increase during the forecast period. The markets in Japan and China are expected to expand at higher CAGRs than other countries in Asia Pacific due to technological advancements in the countries. Demand for services for PACS and RIS systems in Asia Pacific is high due to increase in demand for maintenance of hardware and software.

Brazil is the leading market for PACS and RIS in Latin America. Intervention of global players in the region is driving the PACS and RIS market in Latin America. Saudi Arabia dominates the PACS and RIS market in MEA.

The global PACS and RIS market is consolidated, with relatively small number of companies accounting for majority market share. Major players operating in the global PACS and RIS market are GE Healthcare, Philips Healthcare, Fujifilm Holdings Corporation, McKesson Corporation, Siemens Healthineers, Agfa Healthcare, and Allscripts Healthcare Solutions, Inc. GE Healthcare, Philips Healthcare, and Fujifilm Holdings Corporation exhibit the largest geographical outreach, with presence in multiple PACS and RIS product categories.

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The global PACS and RIS market has been segmented as follows:

Global PACS and RIS Market, by Product

Cardiology PACS
Dental PACS
Oncology PACS
Orthopedic PACS
Global PACS and RIS Market, by Component

Global PACS and RIS Market, by Deployment

Global PACS and RIS Market, by End-user

Diagnostic Centers
Research & Academic Institutes
Ambulatory Surgical Centers
Global PACS and RIS Market, by Geography

North America
Rest of Europe
Asia Pacific
Rest of Asia Pacific
Latin America
Rest of Latin America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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