Market Overview:-
Pacs (Picture Archiving and Communication System) and RIS (Radiology Information System) refers to medical imaging technologies and software used to store, manage and transmit information generated from radiology exams. Pacs provides physicians with a digital distribution system for accessing radiology images from multiple modalities such as MR, CT, PET, ultrasound and X-ray. It enables easy viewing of prior patient exams for comparison. RIS manages radiology workflow and integrates with hospital information systems. It schedules patients for imaging exams, tracks imaging orders and results delivery to referring physicians. Together, Pacs and RIS facilitate more efficient radiology operations, improved workflow and productivity. They enhance communication between radiologists and clinicians for timely diagnosis and treatment decisions. The growing disease burden, rising healthcare expenditures and need for workflow optimization are fueling demand for Pacs and RIS globally.
Market Key Trends:-
The Pacs and Ris market is witnessing the major trend of growing adoption of cloud-based models. Cloud Pacs and cloud RIS technologies are gaining popularity as they eliminate the need for expensive hardware on-premises. Cloud solutions offer affordable subscription or pay-per-use pricing models without large upfront capital costs. They provide easy remote access to radiology images and reports using Internet-enabled devices. This makes teleradiology and multisite consultations more convenient. Cloud models also offer increased storage capacity and built-in disaster recovery. Their seamless integration capabilities enable health systems to aggregate imaging data across multiple facilities on a single platform. This centralized visualization of radiology data enhances collaboration between radiologists, clinicians and patients. The flexibility and scalability afforded by cloud are supporting the digital transformation of radiology.
Porter's Analysis:-
- Threat of new entrants: The threat of new entrants is moderate due to high capital requirements for infrastructure investment and need to compete with established players.
- Bargaining power of buyers: The bargaining power of buyers is high as buyers have a large number of alternatives available and they prefer integrated systems that offer cost savings.
- Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are a few large suppliers with differentiated products.
- Threat of new substitutes: The threat of new substitutes is low as there are no close substitutes that can replace PACs and RIS systems.
- Competitive rivalry: Intense completion exists between major players to gain market share.
Key Takeaways:-
The Global Pacs And Ris Market Demand is expected to witness high growth, exhibiting CAGR of 6.8% over the forecast period, due to increasing need for improved diagnostic imaging, rising healthcare expenditure, and growing geriatric population.
Regional analysis: North America dominates the global PACS and RIS market with the largest share owing to presence of major players in this region coupled with initiatives taken by various government associations to improving healthcare infrastructure. Asia Pacific region is anticipated to exhibit the fastest growth during the forecast period due to large patient population, rising awareness regarding early disease diagnosis, and improving healthcare infrastructure.
Key players: Key players operating in the Pacs And Ris Market are Philips Healthcare, Cerner Corporation, Agfa Healthcare, Fujifilm Holdings Corporation, Allscripts Healthcare Solutions Inc., Sectra, Epic Systems Corporation, General Electric Company, Siemens AG, McKesson Corporation, Wellbeing Software, Merge Healthcare Incorporated, Medinformatix Inc., eRAD, Inc., and RamSoft Inc. Philips Healthcare captured the largest market share in 2020 owing to its diversified product portfolio and strong geographic presence worldwide.
Read More - https://www.trendingwebwire.com/pacs-and-ris-market-share-and-tredns-analysis/
Comments
0 comment