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Pharmacy benefit management market
VENDOR NEUTRAL ARCHIVES (VNA) MARKET REPORT OVERVIEW
The global vendor neutral archives (VNA) market size was USD 289.7 million in 2021 and will touch USD 412.3 million by 2028, exhibiting a CAGR of 5.1% during the forecast period.
Vendor neutral archive (VNA) is a medical imaging technique that is used to archive medical pictures. VNAs allow healthcare organizations to combine, standardize, and archive images and data from disparate picture archiving and communication systems (PACS) into a centralized, easily accessible, and interoperable repository. The vendor-neutral archive (VNA) facilitates the acquisition, administration, and storage of image while facilitating communication between several PACS vendors. The growing demand for systematic preservation of patient data via standardized interfaces is a primary element driving the worldwide vendor neutral archive market’s rise. Furthermore, rising government spending on healthcare infrastructure and technological breakthroughs such as the development of enhanced picture information storage systems are driving growth in the worldwide vendor neutral archive market.
Favourable government initiatives encouraging the use of advanced imaging information systems that provide cost benefits are also expected to favourably impact market growth. Surging demand for lifecycle management, disaster recovery, and standard-based storage solutions are also expected to drive market growth. Participants are fixing their efforts on encouraging R&D. Technological development are supporting the regional market growth. Manufacturers need to stay updated with changing market trends and develop products that meet growing consumer needs. Companies coming up with progressive technological solutions for firming their positions.
COVID-19 Impact: Pandemic Hampered The Market Due To Unexpected Disruption In The Sector
The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.
COVID- 19 pandemic has extremely affected the whole world. It caused many unexpected disruption and affected the industry. COVID- 19 had negative impact on the market due to economic slowdown, unpredictability in financial sector and high unstable market. The pandemic resulted in decreased demand due to a disrupted supply chain, drop in sales of products, delivery schedules. Travel bans imposed affected business collaboration and partnership. Demand had recently reduced due to travel bans and lockdown during the COVID-19 pandemic. The continuous loss in the business due to the lockdown measures is projected to directly influence the growth of the investments in the market.
LATEST TRENDS
"Use Of Innovative Products To Boost The Market Growth "
Technological improvement and development will further enhance the presentation of the product, allowing it to obtain a varied range of requests in the market. Technological advancement will improve performance and propel the market growth. Technological advancement with high demand are increasingly setting a force to increase the productivity. Some players focus on product improvement to meet consumer requirements and likings. Constant innovation in manufacturing of products is anticipated to stimulate product demand.
VENDOR NEUTRAL ARCHIVES (VNA) MARKET SEGMENTATION
By Type Analysis
According to type, the market can be segmented into on- premise VNA, hybrid VNA, cloud-based VNA
On-premise VNA will capture the maximum market share through forecast period.
- On-premise VNA: VNA is installed and runs on the healthcare provider's own servers and infrastructure. It offers full control over the VNA environment, including security, performance, and integration capabilities.
- Hybrid VNA: Hybrid VNA solutions combine on-premise and cloud-based components, allowing for flexible data management and storage. This model supports local storage for frequently accessed data and cloud storage for long-term archiving.
- Cloud-based VNA: Cloud-based VNAs are hosted on a vendor's cloud infrastructure, offering storage and access to medical images via the internet. This model emphasizes scalability, flexibility, and reduced IT burden.
By Application Analysis
According to application, the market can be segmented into hospitals, diagnostic imaging centers, other
Vendor neutral archives (VNA) market players cover segment as hospitals will dominate the market share during forecast period.
- Hospitals: Hospitals require robust, scalable VNA solutions that can integrate with various departments and systems ensuring efficient access to and management of patient imaging data across the facility.
- Diagnostic imaging centers: They focus on efficient, high-volume image processing and storage, requiring VNAs that offer fast access, reliable performance, and seamless integration with imaging equipment and reporting tools.
- Other: This diverse group may require flexible VNA solutions that can be tailored to specific needs, such as supporting research projects, providing community health services, or managing specialized medical imaging needs.
DRIVING FACTORS
"Increasing Demand for Medical Imaging Data To Boost The Market Growth"
The exponential growth in medical imaging data is a significant driver for VNAs, particularly in radiology and imaging departments. The proliferation of imaging technologies such as X-rays, MRIs, and CT scans generates vast amounts of digital image data. VNAs are uniquely equipped to handle and store these large datasets efficiently, ensuring that critical medical images are readily accessible to healthcare professionals when needed.
"Technological Advancement and Innovation To Upsurge The Market"
Technological advancements and innovation activate unique revenue augmenting opportunity which will upsurge the vendor neutral archives (VNA) market growth. Growing investment in research and development activities and growing awareness about benefits are expected to deliver profitable opportunities for the market. As medical imaging technology advances, the volume of imaging data grows, necessitating efficient storage solutions like VNA.
RESTRAINING FACTOR
"High Cost To Hamper The Market Growth"
The cost and implementation challenges related with VNAs can be a significant barrier particularly for smaller healthcare facilities. Organizing a VNA system often requires substantial financial investment, including hardware, software, and IT infrastructure upgrades. In addition, the technical expertise required for implementation can pose challenges for organizations with limited resources. Technical difficulties will reduce the industry revenue.
VENDOR NEUTRAL ARCHIVES (VNA) MARKET REGIONAL INSIGHTS
"Asia Pacific to Dominate the Region Due To Increasing Demand For Disaster Recovery "
The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East and Africa.
Asia Pacific is further expected to witness growth in the vendor neutral archives (VNA) market share. The region is dominating the market due to owing to a rapidly increasing demand for disaster recovery and lifecycle management strategie, reforms and changing healthcare IT policies, and growing healthcare industry. The rising inhabitants and increasing income levels are also contributing to the development of the market. Upsurge in investments by key market players for the R&D undertakings and enlargement of their production abilities and product portfolios are projected to upsurge the growth. The expansion of regional market is being aided by technological developments.
KEY INDUSTRY PLAYERS
"Key Players Focus On Partnerships To Gain Competitive Advantage"
The key players are dynamically contributing in strategic events that are aimed at maintaining strong market position and increasing market share by merger, partnerships and others. Key players are motivated to introduce new innovative products. They are spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market. The market changes are dynamic such as market expansion, partnership and merger. The collective efforts of these major players expressively impact the competitive landscape and future path of the market.
List Of Market Players Profiled
- McKesson Corporation (U.S.)
- GE Company (U.S.)
- Fujifilm Holdings Corporation (Japan)
- Novarad Corporation (U.S.)
- Agfa-Gevaert Group (Belgium)
INDUSTRIAL DEVELOPMENT
August 2021: GE Healthcare developed a next-generation, cloud-based Picture Archive and Communication System (PACS) named Edison True PACS. It is a diagnostic imaging and workflow solute that is currently available in the United States.
REPORT COVERAGE
The report provides scrutiny and information according to market sectors. Business overview, financial overview, product portfolio, new project launch, recent development enquiry are the factors included in the profile. The report incorporates completely examined and appraised evidence of the noticeable players and their position in the market by methods for various descriptive tools. The report covers national and regional level market size and forecast. The report gives businesses the facility to research new prospect in many areas. The report shows to be an operational tool that players can use to gain a competitive superiority over their opponents and ensure lasting achievement in the market.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 289.7 Million in 2021 |
Market Size Value By |
US$ 412.3 Million by 2028 |
Growth Rate |
CAGR of 5.1% from 2021 to 2028 |
Forecast Period |
2022-2028 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Types & Application |
Frequently Asked Questions
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What value is the vendor neutral archives (VNA) market expected to touch by 2028?
The vendor neutral archives (VNA) market is expected to reach USD 412.3 million by 2028.
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What CAGR is the vendor neutral archives (VNA) market expected to exhibit by 2028?
The vendor neutral archives (VNA) market is expected to exhibit a CAGR of 5.1% by 2028.
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What are the driving factors of the vendor neutral archives (VNA) market?
Increasing demand for medical imaging data & technological development and advancement are expected to deliver profitable opportunities for the vendor neutral archives (VNA) market.
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What are the vendor neutral archives (VNA) market segments?
The vendor neutral archives (VNA) market segmentation that you should be aware of, which include, Based on type the vendor neutral archives (VNA) market is classified as on- premise VNA, hybrid VNA, cloud-based VNA. Based on application the vendor neutral archives (VNA) market is classified as hospitals, diagnostic imaging centers, other.