GVR Report cover Healthcare Cloud Picture Archiving & Communications System  Market Size, Share & Trends Report

Healthcare Cloud Picture Archiving & Communications System Market Size, Share & Trends Analysis Report By Application (Cardiology, Oncology), By End-use (Hospitals, Diagnostic Centers), By Region, And Segment Forecasts, 2020 - 2027

  • Published Date: Jan, 2021
  • Base Year for Estimate: 2019
  • Report ID: GVR-4-68039-277-3
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2018
  • Number of Pages: 120

Report Overview

The global healthcare cloud picture archiving & communications system market size was valued at USD 422.5 million in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 8.1% from 2020 to 2027. The rising need to store, manage, and transfer the ever-increasing healthcare data is a key factor propelling the adoption of these solutions. PACS (picture archiving & communications system) helps in minimizing the overloading of data and accelerates disease detection. Furthermore, the advancements in technology pertaining to healthcare solutions as well as the co-existence of healthcare and IT solutions have fueled the market growth. Cloud-based PACS offers secure and safe data storage. This is because these PACSs are less vulnerable to damage caused by hardware, and thus patient data is secure. In addition, the increasing demand for universalization of clinical and medical image storage in all formats, coupled with the heightened usage of image archiving, is expected to propel the healthcare cloud PACS market growth.

North America healthcare cloud PACS market size, by application, 2016 - 2027 (USD Million)

The increasing prevalence of corona-positive patients, along with the shortage of healthcare professionals, owing to the imposed lockdowns has increased the necessity for improved healthcare solutions. The ability to analyze and further transmit healthcare data and information, review images and collaborate with clinical staff and healthcare professionals during the pandemic to ensure quality clinical outcomes has boosted and favored the demand for healthcare cloud-based PACS. Furthermore, rising physicians’ flexibility for the patient data accession to the diagnostic images anywhere during the pandemic has further propelled the market growth.

Aging is considered to be the greatest risk factor for chronic conditions. The geriatric population is highly susceptible to chronic conditions. Thus, the increasing global geriatric population in both developed and developing nations is expected to propel the growth of the market. Presently, there are about 46 million people in the U.S. belonging to the age group of 65 and above, and this number is expected to reach 98 million by 2060. In addition, according to the World Health Organization, the percentage of the geriatric population is expected to reach 22% in 2050 from 12% in 2015.

Application Insights

The others application segment accounted for the largest revenue share of 23.8% in 2019. It includes dentistry, dermatology, pathology, nuclear medicine, and clinical research. The increasing demand for medical images for the diagnosis of diseases on a daily basis is a major factor contributing to the growth of this segment. Furthermore, an increase in the prevalence of chronic diseases in patients is a high-impact rendering factor for the segment growth, which may lead to the adoption of healthcare cloud PACS for disease control.

The cardiology segment is anticipated to witness significant growth over the forecast period. The growth of the segment is a consequence of the rising prevalence of cardiac disorders, which is expected to have a significant impact on the adoption of the solutions. According to the Centers for Disease Control and Prevention (CDC), in 2017, 800,000 deaths were reported due to cardiac disorders in the U.S., which is also the leading cause of death in the country.

End-use Insights

The hospitals segment held the largest revenue share of 38.3% in 2019. These health organizations are currently advancing in terms of technology usage. Healthcare cloud PACS is being used extensively in hospitals due to the rising number of complications in diseases. Furthermore, the increasing demand for early diagnosis is expected to propel the demand for cloud PACS in hospitals.

Global healthcare cloud PACS market share, by end use, 2019 (%)

The diagnostic centers segment is anticipated to be the fastest-growing segment over the forecast period. The PACS solutions seamlessly integrate with EMR/EHRs as well as help in the exchange of patient health-related information. Moreover, the ability of PACS to deliver a comprehensive suite of clinical tools has increased workflow efficiency. Such factors are fueling the growth of the segment.

Regional Insights

North America dominated the market with a share of 40.4% in 2019. The market growth can be attributed to various factors such as the presence of key players in the region and high investment in healthcare expenditure. Besides, technological advancements and high disposable income are some of the factors expected to fuel market growth over the forecast period.

The market in Asia Pacific is predicted to expand at the fastest CAGR of 9.6% over the forecast period due to the constant upgradation of the healthcare infrastructure. Moreover, the rising adoption of PACS in healthcare facilities, coupled with the rapid expansion of manufacturing facilities in emerging countries, such as China and India, is further propelling the market growth.

Key Companies & Market Share Insights

The key players are involved in business activities, such as strategic collaborations, new product launches, and regional expansion, as emerging countries are still in the loop of adopting healthcare cloud PACS. For instance, in April 2020, Konica Minolta Healthcare Americas launched a new medical image management solution for specialty clinics called Rede PACS and Rede Mini PACS. This enhanced the company’s portfolio. Further, in March 2020, Ambra Health partnered with Perspectum, a leading developer of medical image analysis technologies. This enabled the integration of the company’s Cloud PACS solution with the latter’s flagship product called LiverMultiScan. Some prominent players in the global healthcare cloud picture archiving & communications system market include:

  • Konica Minolta Healthcare Americas, Inc.

  • Ambra Health

  • Koninklijke Philips N.V.

  • UltraLinq

  • VEPRO AG

  • Telemis S.A.

  • RamSoft, Inc.

  • INFINITT North America Inc.

  • Core Sound Imaging, Inc.

  • QUICKPACS

  • PostDICOM

Healthcare Cloud Picture Archiving & Communications System Market Report Scope

Report Attribute

Details

Market size value in 2020

USD 612.7 million

Revenue forecast in 2027

USD 1,060.1 million

Growth Rate

CAGR of 8.1% from 2020 to 2027

Base year for estimation

2019

Actual estimates/Historical data

2016 - 2018

Forecast period

2020 - 2027

Quantitative units

Revenue in USD million & CAGR from 2020 to 2027

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments covered

Application, end-use, region

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country Scope

U.S.; Canada; U.K.; Germany; Spain; France; Italy; Russia; Japan; China; India; Australia; South Korea; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE

Key companies profiled

Konica Minolta Healthcare Americas, Inc.; Ambra Health; Koninklijke Philips N.V.; UltraLinq; VEPRO AG; Telemis S.A.; RamSoft, Inc.; INFINITT North America Inc.; Core Sound Imaging, Inc.; QUICKPACS; PostDICOM

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Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. For the purpose of this report, Grand View Research has segmented the global healthcare cloud picture archiving & communications system market report on the basis of application, end-use, and region:

  • Application Outlook (Revenue, USD Million, 2016 - 2027)

    • Cardiology

    • Orthopedics

    • Ophthalmology

    • Oncology

    • Veterinary Medicine

    • Others

  • End-use Outlook (Revenue, USD Million, 2016 - 2027)

    • Hospitals

    • Diagnostic Centers

    • Others

  • Regional Outlook (Revenue, USD Million, 2016 - 2027)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

      • Spain

      • France

      • Italy

      • Russia

    • Asia Pacific

      • Japan

      • China

      • India

      • Australia

      • South Korea

    • Latin America

      • Brazil

      • Mexico

      • Argentina

    • Middle East and Africa (MEA)

      • South Africa

      • Saudi Arabia

      • UAE

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