The global healthcare cloud picture archiving and communications system market size is expected to reach USD 1,404.8 million by 2030 according to a new report by Grand View Research, Inc., expanding at a CAGR of 8.6% from 2023 to 2030. The increased patient data storage capacity of cloud-based picture archiving and communications systems (PACS) due to ample storage space is the key factor driving the market growth. The increasing prevalence of chronic diseases, such as cancer, cardiac disorders, and bone-related disorders, has fueled the demand for medical imaging for early diagnosis. These medical images obtained from technologically advanced devices are made of large file sizes leading to the overloading of data in the system. This overloading also slows down the system.
Thus, to reduce such issues, healthcare organizations have increased the adoption of cloud-based PACS, thereby driving the market. Cloud PACS enables healthcare professionals to access patients’ images directly from the cloud. This easy access has enhanced flexibility and efficiency leading to faster diagnosis and disease detection. Physicians and clinicians can review and analyze the stored images of the patients and transmit the related information by collaborating with the clinical staff. These associated benefits are further anticipated to expand the consumer base for the market in the near future. In addition, the rising number of coronavirus-positive patients, along with a shortage of healthcare workers as a result of the imposed lockdowns, has heightened the need for better healthcare options.
During the pandemic, the need for enhanced capacity to analyze & further communicate healthcare data & information, study images, and collaborate with clinical staff & healthcare professionals to ensure quality clinical outcomes encouraged the adoption of cloud-based PACS in the healthcare industry. In addition, the increasing flexibility of clinicians for patient data access to diagnostic imaging anywhere during the pandemic fueled the demand further. To improve their market penetration, the leading companies are engaged in various initiatives, such as new product development, distribution agreements, etc. For instance, Konica Minolta Healthcare Americas announced Rede PACS and Rede Mini PACS, a new medical image management solution for specialized clinics, in April 2020. This helps the company in its product expansion strategy. Such initiatives implemented by market players are further projected to boost industry growth in the coming years.
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The cardiology application segment is expected to expand at a lucrative growth rate over the forecast period due to the rising prevalence of cardiac disorders and associated mortality
The hospital end-use segment dominated the market in 2022 due to extensive usage of PACS on account of its ability to deliver a comprehensive suite of clinical tools that increases the workflow efficiency
North America dominated the market in 2022 owing to the presence of established players and technologically advanced infrastructure
Asia Pacific is anticipated to witness the fastest CAGR over the forecast period due to the high potential and presence of rapidly growing markets like India, Japan, and China in the region
Industry players are involved in strategies including M&As, collaborative agreements, geographic expansion, and product launches to gain a competitive edge
Grand View Research has segmented the global healthcare cloud picture archiving and communication system market based on application, end-use, and region
Healthcare Cloud PACS Application Outlook (Revenue, USD Million, 2018 - 2030)
Healthcare Cloud PACS End-use Outlook (Revenue, USD Million, 2018 - 2030)
Healthcare Cloud PACS Regional Outlook (Revenue, USD Million, 2018 - 2030)
Middle East and Africa (MEA)
List of Key Players of Healthcare Cloud Picture Archiving And Communications System Market
Konica Minolta Healthcare Americas, Inc
Koninklijke Philips N.V.
INFINITT North America Inc.
Core Sound Imaging, Inc.
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