Healthcare Cloud Picture Archiving & Communications System Market Size, Share & Trends Analysis Report By Application (Cardiology, Oncology), By End Use (Diagnostic Centers, Hospitals), By Region, And Segment Forecasts, 2022 - 2030

Report Overview

The global healthcare cloud picture archiving & communications system market size was valued at USD 704.6 million in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 8.2% from 2022 to 2030.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 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 market growth.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 & 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 patient data accession to the diagnostic images anywhere during the pandemic has further propelled the market growth.The COVID-19 epidemic had a major impact on the market growth as in there is high demand for faster and easier access to patient images & medical records, particularly from CT and MRI departments.Cloud PACS has an advantage over on-premise solutions in terms of data resiliency, seamless scalability, cost-effectiveness, and real-time backup, making it the most preferable solution for mid-size organizations.

Application Insights

The other application segment accounted for the largest revenue share of more than 23.5% in 2021. 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 is a high-impact rendering driver for the segment, which may lead to the adoption of healthcare cloud PACS for disease control. Companies dealing in dentistry PACS include Paxera Health, Planmeca OY, INFINITT, CT-Dent, etc. Players in the pathology PACS segment include Sectra, Optomed, and others. In August 2021, Change Healthcare released end-to-end, cloud-native solution for medical imaging.

The cardiology segment is anticipated to be the second-largest segment by 2030. Cardiology PACS can connect to cardiac imaging system, patient Electronic Medical Record (EMR), Diagnostic Test (ECG), cath lab hemodynamics system, among others.They can help aggregate all cardiac patient data, waveforms, and imaging into one location. Technological advancements in this area are anticipated to fuel the market growth over the projected period. The growth of the segment is a result of the rising prevalence of cardiac disorders, which is expected to have a significant impact on the adoption of the solutions.According to the American Heart Association in 2018, the death rate reported due to cardiac disorders in the U.S. was 217.1 per 100,000 population, which is also one of the leading causes of death in the country.

End-use Insights

The hospital segment held the majority of the revenue share of 37.9% in 2021.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.According to an article published by the American Hospital Association, the number of hospitals has increased from 6,146 in 2018 to 6,210 in 2019 in the U.S. Technologically advanced devices are widely being used in hospitals to provide better treatment to patients. These devices not only simplify the treatment procedures but also help in providing better, faster, and more accurate results.

Diagnostic centers are 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 driving the growth in the segment. Moreover, technological advances in healthcare owing to rising R&D in the field of medicine are anticipated to fuel demand for healthcare cloud PACS. Increasing adoption of Cloud-based Picture Archiving and Communications System in research labs due to its growing application scope across medical specialties, such as orthopedics, neurosurgery, oncology, & cardiology, fuels market growth.

Regional Insights

North America accounted for the largest share of 39.5% of the global revenue in 2021.The market growth can be attributed to various factors, such as the presence of key players in the region and high investment in health care expenditure.In addition, technological advancements and high disposable income are some of the factors expected to fuel the market growth over the forecast period.The presence of well-established healthcare infrastructure & high per capita healthcare expenditure in the U.S is a major driver contributing to the high adoption of advanced healthcare technology.The U.S. healthcare expenditure increased by 9.7% in 2020 to USD 3.6 trillion, or USD 12,530 per person, and is expected to remain high in the near future.

The market in Europe is expected to witness a steady growth rate over the forecast period.The size of this market can be attributed to the contribution of developed economies, such as Germany and the U.K. High prevalence of various chronic diseases, such as cancer and cardiovascular conditions, along with a large number of diagnostic imaging centers in Europe, are also among the market drivers.The market in Asia Pacific is predicted to grow at the fastest CAGR over the forecast period due to the constant up-gradation 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,will further boost the market growth.

Key Companies & Market Share Insights

Market 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.Furthermore, 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.Such initiatives are expected to present this market with future growth opportunities.Some of the key participants 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

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 in each of the sub-segments from 2017 to 2030. For the purpose of this study, 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, 2017 - 2030)

  • Cardiology

  • Orthopedics

  • Ophthalmology

  • Oncology

  • Veterinary Medicine

  • Others

• End-use Outlook (Revenue, USD Million, 2017 - 2030)

  • Hospitals

  • Diagnostic Centers

  • Others

• Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • 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