DUBLIN, Oct. 21, 2019 /PRNewswire/ -- The "Specialty PACS Market by Type (Radiology, Orthopedics, Oncology, Pathology, Endoscopy, Women's Health), Deployment Model (On premise, Cloud), Component (Software, Service), End User (Hospital, Clinic, Diagnostic Centers, Research) - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The Specialty PACS Market is Projected to Reach USD 3.5 Billion in 2024 from USD 2.6 Billion in 2019, at a CAGR of 6.0%.
The growth in this market is driven mainly by the increasing geriatric population and subsequent growth in the incidence of various diseases, advantages associated with specialty PACS, government initiatives to increase the adoption of healthcare IT solutions, rising investments in medical imaging, growing adoption of medical imaging IT solutions, and increasing use of imaging equipment. On the other hand, budgetary constraints are expected to limit market growth during the forecast period.
The services segment is projected to grow at the highest CAGR during the forecast period.
Based on the component, the specialty PACS market is segmented into software, services, and hardware. In 2018, the software segment accounted for the largest specialty PACS market share. With the consistent increase in the healthcare imaging volumes, there is a growing demand for PACS software. However, services are expected to register the highest CAGR during the forecast period primarily due to the recurring need for services such as software upgrades and maintenance.
The radiology PACS segment accounted for the largest share of the specialty PACS type market in 2018.
Based on the type, the specialty PACS market is segmented into radiology PACS, cardiology PACS, pathology PACS, ophthalmology PACS, orthopedics PACS, oncology PACS, dermatology PACS, neurology PACS, endoscopy PACS, women's health PACS, and other specialty PACS. The radiology PACS segment accounted for the largest share of the market in 2018 as a majority of imaging studies are handled, managed, and stored in the radiology departments of hospitals.
Furthermore, with the ever-increasing volume of medical images, the pressure on radiology departments is also growing. Owing to this, many healthcare facilities are adopting radiology PACS solutions, which is expected to fuel the growth of the segment.
Asia Pacific to witness high growth during the forecast period.
In 2018, North America accounted for the largest share of the market, followed by Europe. However, Asia Pacific is expected to grow at the highest CAGR during the forecast period. Factors such as the increasing incidence of chronic diseases, rising awareness on the benefits of early disease diagnosis, and growing adoption of imaging modalities are some of the factors driving the growth of specialty PACS market in this region.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Key Drivers in the Market
4.2 Market, By End User and Region, 2019
4.3 Market, By Region
5 Market Overview
5.2 Market Dynamics
220.127.116.11 Growing Government Initiatives to Increase the Adoption of Healthcare IT Solutions
18.104.22.168 Growing Investments in Medical Imaging
22.214.171.124 Growing Adoption of Medical Imaging IT Solutions
126.96.36.199 Increasing use of Imaging Equipment
188.8.131.52 Increasing Geriatric Population and the Subsequent Growth in the Incidence of Various Diseases
184.108.40.206 Advantages Associated With Specialty PACS
220.127.116.11 Integration of Artificial Intelligence With Specialty PACS Solutions
18.104.22.168 Growth Opportunities Offered By Cloud-Based Specialty PACS Solutions
22.214.171.124 Integration of PACS With Emr
126.96.36.199 Blockchain for Medical Imaging
5.2.4 Industry Insights
6 Specialty PACS Market, By Type
6.2 Radiology PACS
6.3 Cardiology PACS
6.4 Ophthalmology PACS
6.5 Orthopedics PACS
6.6 Oncology PACS
6.7 Dermatology PACS
6.8 Pathology PACS
6.9 Neurology PACS
6.10 Endoscopy PACS
6.11 Women's Health PACS
6.12 Other Specialty PACS
7 Specialty PACS Market, By Component
8 Specialty PACS Market, By Deployment Model
8.2 On-Premise Specialty PACS
8.3 Web/Cloud-Based Specialty PACS
9 Specialty PACS Market, By End User
9.3 Ambulatory Surgery Centers & Clinics
9.3 Diagnostic Imaging Centers
9.4 Other End Users
10 Specialty PACS Market, By Region
10.2 North America
10.4.3 Rest of APAC
10.5 Latin America
10.6 North Africa
11 Competitive Landscape
11.2 Market Player Ranking
11.3 Competitive Scenario
11.4 Recent Developments
11.4.1 New Product Launches
11.4.2 Agreements, Partnerships, and Contracts
12 Company Profiles
12.1 IBM Corporation (Merge Healthcare Incorporated)
12.2 McKesson Corporation
12.3 Agfa Healthcare
12.4 Carestream Health
12.5 Philips Healthcare
12.6 Sectra AB
12.7 Siemens Healthineers
12.8 Novarad Corporation
12.9 INFINITT North America
12.10 Intelerad Medical Systems Incorporated
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