North America PACS and RIS Market

Market Introduction

The picture archiving and communication system (PACS) manages, retrieves, stores, and distributes the medical images. In the area of radiology, it is used for sharing and viewing diagnostic images. A radiology information system (RIS) is a software system used for handling medical images and other associated data. RIS retains track of radiology imaging orders and data of bills. It is used along with PACS and vendor-neutral archives (VNAs). RIS manages image archives, keeps records, and billing.

Thus, the affordable price of new generation PACS software is expected to create a significant demand for PACS and RIS in the coming years, which is further anticipated to drive the PACS and RIS market.

The demand PACS and RIS have increased in hospitals due to COVID 19 as the fast and easily accessible patient imaging is crucial in treatment of COVID 19 sufferers. This has resulted in increased demand for picture archiving and communication systems (PACS), which in turn secure growth and sustainability in this market. In April, the U.S. Food and Drug Administration (FDA) has approved Intelerad’s InteleConnect EV solution for diagnostic imaging review on a range of mobile devices. This approval comes at a critical time for healthcare systems and ensures that radiologists are able to collaborate and leverage resources in more creative ways, even when workstation access is not available. It also is approved for mobile diagnostic image review, and can immediately be used on various iPad and iPhone models, with additional devices on the horizon. All the aforementioned factors are expected to bring positive prospects for PACS and RIS market during this pandemic crisis.

North America PACS and RIS Strategic Insights

Strategic insights for the North America PACS and RIS provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

North America PACS and RIS Report Scope

North America PACS and RIS Regional Insights

The geographic scope of the North America PACS and RIS refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

The PACS and RIS market in North America is expected to grow from US$ 1,152.7 million in 2019 to US$ 2,243.7 million by 2027; it is estimated to grow at a CAGR of 8.6% from 2020 to 2027. The use of PACS over the conventional hard-copy images provides various advantages for patients and also increases the efficiency of operation in hospitals. PACS are used in hospitals, whereas in traditional paper-based systems, orthopedic films are prone to be misplaced and lost. It is leading to longer examination time, increasing the patient waiting lists, one of the pivotal problems facing the healthcare system. Also, the implementation of PACS facilitates real-time access to patients’ medical records and enables retrieval of historical information for off-site consultations. Hence, PACS helps in providing appropriate treatment for patients, offering significant growth opportunity for the market during the coming years. This is bolstering the growth of the PACS and RIS market.

Key Market Segments

In terms of product, the picture archive and communication system (PACS) segment accounted for the largest share of the North America PACS and RIS market in 2019. In terms of component, the software segment held a larger market share of the PACS and RIS market in 2019. In terms of deployment, the web-based segment held a larger market share of the PACS and RIS market in 2019. In terms of end user, the hospitals segment held a larger market share of the PACS and RIS market in 2019.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the PACS and RIS market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Agfa-Gevaert Group

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Reasons to buy report

• To understand the North America PACS and RIS market landscape and identify market segments that are most likely to guarantee a strong return
• Stay ahead of the race by comprehending the ever-changing competitive landscape for North America PACS and RIS market
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• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America PACS and RIS market
• Obtain market revenue forecast for market by various segments from 2021-2028 in North America region.

NORTH AMERICA PACS AND RIS MARKET SEGMENTATION

By Product

• Picture Archiving And Communication System (PACS)
• Radiology Information System (RIS)

By Component

• Hardware
• Software
• Services

By Deployment

• Web-Based
• On-Premise
• Cloud-Based

By End User

• Hospitals
• Diagnostic Centers
• Others

By Country

• North America

  • US
  • Canada
  • Mexico

Companies Mentioned

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