South and Central 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.

South and Central America is facing significantly challenging situations due to COVID 19 pandemic. Governments in the region have announced massive relief packages in order to fight against coronavirus pandemic. The Brazilian scenario in relation to the radiological imaging for COVID 19 patient’s diagnosis supports the market growth. During this pandemic the need for intensive support and accurate diagnostic imaging systems has increased the need for PACS and RIS, in both public and private hospitals. Similar situation was observed in Argentina, Peru, Chile and other South and Central American countries that eventually increased the need for Radiology Information System and Picture Archiving and Communication System thereby positively impacting the growth of PACS and RIS market during the pandemic. For instance, in April 2020, PaxeraHealth one of the major market player in South America region launched initiative called as CoronaCare a complete tracking system for patients with COVID-19-like symptoms that is designed to screen and identify the highest risk patients quickly in real-time.

South and Central America PACS and RIS Strategic Insights

Strategic insights for the South and Central 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.

South and Central America PACS and RIS Report Scope

South and Central America PACS and RIS Regional Insights

The geographic scope of the South and Central 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 South and Central America is expected to grow from US$ 107.9 million in 2019 to US$ 183.9 million by 2027; it is estimated to grow at a CAGR of 6.8% 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.

Key Market Segments

In terms of product, the picture archive and communication system (PACS) segment accounted for the largest share of the South and Central 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 South and Central 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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• To understand the South and Central America PACS and RIS market landscape and identify market segments that are most likely to guarantee a strong return
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• Obtain market revenue forecast for market by various segments from 2021-2028 in South and Central America region.

SOUTH AND CENTRAL 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

• South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America

Companies Mentioned

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