PACS and RIS Market is Anticipated to Gain Moderate CAGR by 2027

The global PACS and RIS market expected to be US$ 2,728.43 Mn in 2018 and is predicted to grow at a CAGR of 7.4% during the forecast period 2019 – 2027, to reach US$ 5,008.93 Mn by 2027.

Europe is the second largest geographic market and is expected to be the second most significant revenue contributor throughout the forecast period. The region has witnessed several technological advancements in the field of healthcare by the incorporation of digital technology in order to increase the efficiency of healthcare facilities in the region. The growth is driven by factors such as government collaborations with technology providers, prevalence of cancer in the countries.

Download Sample PDF Brochure @ https://www.theinsightpartners.com/sample/TIPRE00003005/

Developments in Diagnostic Imaging Modalities Coupled with Rising Number of Diagnostic Tests Procedures

Medical imaging is a vital part in medical care and treatment across the globe. Rising awareness regarding early diagnosis of diseases has led to an increase in the total number of diagnostic tests procedures performed around the world. During the year 2012, Canadians underwent 1.7 million magnetic resonance imaging (MRI) exams and 4.4 million computed tomographies (CT) exams. The statistics reveal, nearly double the number of such reviews performed during 2003. The national rate for CT scans were 126 per 1,000 individuals around 2014 and 2015. Rates ranged from 209 (New Brunswick) and 170 (Newfoundland and Labrador) to 88 (Alberta) and 93 (Prince Edward Island). In addition, according to the National Health Services (NHS) UK, there were 4.1 million imaging tests conducted in England in the 12 months from February 2016 to January 2017. Of these, 3.49 million imaging tests were reported to have taken place in January 2017.

As per the World Health Organization (WHO), with improved health care policy and the better availability of medical equipment, there has been rise in the number of global imaging-based procedures. Thus, the growing number of diagnostic imaging procedures performed across the globe resulting in increasing requirement of consumables for tests are likely expected to drive the growth of the global PACS and RIS market over the coming years.

New Product Launches & FDA Approvals

Frequent FDA approvals and product launches drive the market for PACS and RIS. Most of the major market players operating in the market are adopting measures such as product launches as well as approvals to provide a better solution as well as software in the PACS and RIS market. For instance, during February 2019, Philips introduced IntelliSpace Cardiovascular 4.1, a cardiovascular image and information management system. The platform offers efficient pediatric reporting capabilities. With the rising prevalence of cardiovascular disorders, the launch of software can enable better treatment as well as diagnosis of these disorders.

Buy Now This Report @ https://www.theinsightpartners.com/buy/TIPRE00003005/

Also, in June 2017, FDA approved IntelliSpace Portal 9.0 provided by Philips to be commercialized in the U.S. The system offers more than 70 applications in the field of radiology, such as oncology cardiology, and neurology. The platform provides clinicians a better overview of every patient, helping in quick diagnosis with the help of multimodality clinical applications developed for evaluation of patient data. The excellent benefits provided by these newly approved as well as launched products are expected to drive the demand for the market during the forecast period.

Company Profiles

McKesson Corporation
General Electric
Fujifilm Holdings Corporation
Koninklijke Philips N.V.
Siemens AG
Cerner Corporation
IBM
Novarad
Agfa-Gevaert Group
INFINITT Healthcare Co., Ltd.

TABLE OF CONTENTS

1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Global PACS and RIS Market – By Product
1.3.2 Global PACS and RIS Market – By Component
1.3.3 Global PACS and RIS Market – By Deployment
1.3.4 Global PACS and RIS Market – By End User
1.3.5 Global PACS and RIS Market – By Geography
2. Global PACS and RIS Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Global PACS and RIS Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 North America PEST Analysis
4.2.2 Europe PEST Analysis
4.2.3 Asia Pacific PEST Analysis
4.2.4 Middle East & Africa PEST Analysis
4.2.5 South & Central America PEST Analysis
5. Global PACS and RIS Market – Key Industry Dynamics
5.1 Key Market Drivers
5.1.1 Developments in Diagnostic Imaging Modalities Coupled with Rising Number of Diagnostic Tests Procedures
5.1.2 Affordable Price of New Generation PACS Software
5.1.3 New Product Launches & FDA Approvals
5.2 Key Market Restraints
5.2.1 Availability of Better Substitutes
5.2.2 Concerns Regarding Data Privacy
5.3 Key Market Opportunities
5.3.1 Increasing Demand for Orthopaedic PACS
5.4 Impact Analysis