VNA And PACS Market Report Overview
-
Request a Free Sample to learn more about this report
The global VNA & PACS market size was USD 2399.5 million in 2021. As per our research, the market is expected to reach USD 3593 million in 2031, exhibiting a CAGR of 4.1% during the forecast period.
The global COVID-19 pandemic has been unprecedented and staggering, with the VNA & PACS market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
VNA and PACS are two distinct systems used in the medical field for managing and storing medical imaging data. Firstly, Vendor Neutral Archive (VNA) is a specialized system used to store and manage medical imaging data, such as X-rays, CT scans, MRIs, ultrasounds, and more. The primary purpose of a VNA is to provide a centralized and standardized repository for medical images from various imaging modalities and healthcare departments. Whares, PACS (Picture Archiving and Communication System) is a comprehensive system used for the storage, retrieval, distribution, and presentation of medical images. It is specifically designed for healthcare organizations to manage and view images from different imaging modalities.
The market is projected to rise with an outstanding CAGR during the forecast 2022-2031 due to the increasing demand for the digitalization of medical imaging data and the benefits it offers over traditional film-based systems. In addition, the market is bifurcated by type and by application. With respect of the type of application, hospitals are the prominent application segment of the market which spike in the demand for the system.
COVID-19 Impact: Pandemic Highlighted the Importance of Data Interoperability and Integration
The COVID-19 pandemic had a profound impact on the markets. With social distancing measures in place, there was a surge in the adoption of telemedicine, leading to increased demand for remote access to medical images stored in VNAs and PACS. As healthcare facilities faced unprecedented patient loads, it emphasized the need for efficient medical imaging management using PACS solutions. Besides, supply chain disruptions affected equipment delivery and installation, while the pandemic highlighted the importance of data interoperability and integration. As a result, healthcare organizations accelerated their digital transformation efforts to support remote healthcare services effectively which is expected to continue to grow in the coming years.
Latest Trends
"Trend of Cloud-Based VNA and PACS Solutions Expand the Market Opportunity"
The market for VNA and PACS has been experiencing steady growth over the last few years with ongoing trends and development in the market. There is a growing trend of adopting cloud-based VNA and PACS solutions. Cloud-based systems offer scalability, cost-effectiveness, and the ability to store and access medical imaging data securely from anywhere. Cloud solutions also facilitate collaboration among healthcare providers and enabled seamless integration with other healthcare IT systems. Also, artificial intelligence (AI) and machine learning are being integrated into systems to enhance image analysis and diagnosis. AI algorithms can assist in automating image interpretation, identifying anomalies, and streamlining radiologists' workflows. This integration is aim at improving the efficiency and accuracy of medical image analysis which is contributing to boosting the VNA & PACS market growth over this projection period.
VNA And PACS Market Segmentation
-
Request a Free Sample to learn more about this report
- By Type Analysis
According to type, the market can be bifurcated into VNA and PACS.
- By Application Analysis
Based on application, the market can be divided into hospitals, and diagnostic imaging centre.
Driving Factors
"Increasing Demand for Efficient Medical Image Management Drives the Market Growth"
The market is primarily driven by the rising volume of medical imaging data, generated from various imaging modalities such as CT scans, MRIs, and X-rays. This has created a need for efficient management and storage solutions. VNA and PACS offered healthcare facilities the ability to organize, store, and retrieve large amounts of medical images, enhancing workflow efficiency and patient care.
"Growing Emphasis on Interoperability and Data Incorporation Boost the Growth of the Market"
The focus on interoperability plays a crucial role to drive the market growth. As healthcare organizations sought solutions that supported data interoperability and integration. VNAs, in particular, are valued for their vendor-neutral approach, allowing seamless data exchange between different imaging systems and healthcare IT platforms. Along with this, the global trend of digitizing healthcare records and processes also drives the adoption of PACS and VNAs and supports the market’s progress.
Restraining Factors
"High Implementation and Maintenance Costs Can Restrict the Market Extension"
The high implementation and maintenance cost of this system can be a constraint for market growth. As it can involve significant upfront costs for healthcare facilities, especially for smaller healthcare providers with limited budgets. Additionally, ongoing maintenance and software updates can add to the total cost of ownership. As well, as medical imaging data becomes more digitized, there are growing concerns about data security and privacy which also can be a hurdle for the expansion of the market.
VNA And PACS Market Regional Insights
-
Request a Free Sample to learn more about this report
"North America Leads the Market Due to Early Technology Adoption & Advanced Healthcare Infrastructure"
As per previous years’ records, North America held a leading position in markets. The region's advanced healthcare infrastructure, early technology adoption, and government initiatives supporting healthcare IT solutions contributed to its dominant position. With a strong demand for quality healthcare services and a supportive regulatory environment, the region embraced this system to efficiently manage medical imaging data and enhance patient care. Moreover, in terms of global market revenue, the region held the VNA & PACS market shares.
Key Industry Players
"Key Players Often Engage in Strategic Partnerships and Collaborate With other Providers to Expand Market Reach"
With regard to key players, eminent companies in the markets achieve their position through comprehensive product portfolios, technological innovation, and a focus on interoperability and integration. They prioritize customer support and service, comply with industry standards and regulations, and maintain a strong global presence. Strategic partnerships, customer success stories, and continuous market analysis contribute to their market leadership.
List of Market Players Profiled
- Agfa HealthCare
- GE Healthcare
- INFINITT Healthcare CO.
- Mach7 Technologies
- Merge Healthcare Inc.
- Sectra AB
- BridgeHead Software Limited
- Carestream Health Inc.
- Fujifilm Medical Systems U.S.A.
- Hyland Software Inc.
- Koninklijke Philips N.V.
- McKesson Corporation
- Novarad Corporation
- Siemens Healthineers
Report Coverage
This report defines the VNA & PACS market. It emphasizes the market value, expected CAGR, and USD value over the forecast period, before and after the impact of the COVID-19 pandemic restrictions on the international market, and how the industry is going to turn the corner is also stated in the report. The report provides significant market data with its product type and product applications, end-use details, and an idea of the market growth in the future. This report also provides an understanding of the growing market trends and developments and their effects on the market growth, driving factors along with restraining factors that impact the market dynamics. Along with this, the leading region, key players of the market, and their tactics to beat the market competition, sustainable policies, their collaboration, mergers, companies’ profile, previous years’ revenue, profit & loss, and market position based on their share value in the market, are also explained in the report.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 2399.5 Million in 2021 |
Market Size Value By |
US$ 3593 Million by 2031 |
Growth Rate |
CAGR of 4.1% from 2021 to 2031 |
Forecast Period |
2022-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
-
What value is the global VNA & PACS market expected to touch by 2031?
The global VNA & PACS market is expected to touch USD 3593 million in 2031.
-
What CAGR is the VNA & PACS market expected to exhibit during 2022-2031?
The VNA & PACS market is expected to exhibit a CAGR of 4.1% over 2022-2031.
-
What are the key driving factors of the VNA & PACS market?
The increasing demand for efficient medical image management and growing emphasis on interoperability and data integration are the key driving factors of the VNA & PACS market.
-
What are the key players in the VNA & PACS market?
The key players in the VNA & PACS market include: Agfa HealthCare, GE Healthcare, INFINITT Healthcare CO., Mach7 Technologies, Merge Healthcare Inc., Sectra AB, BridgeHead Software Limited, Carestream Health Inc., Fujifilm Medical Systems U.S.A., Hyland Software Inc., Koninklijke Philips N.V., McKesson Corporation, Novarad Corporation, and Siemens Healthineers, are top players in the market.