The global Ophthalmology PACS market size is expected to be worth around US$ 270.96 million by 2030 from valued at US$ 203.14 million in 2020 and is anticipated to grow at a CAGR of7.5% during forecast period 2021 to 2030.
The global Ophthalmology PACS market size is expected to be worth around US$ 270.96 million by 2030 from valued at US$ 203.14 million in 2020 and is anticipated to grow at a CAGR of7.5% during forecast period 2021 to 2030.
Report Highlights
- Integrated systems segment held the major share of the global ophthalmology PACS market in 2020.
- The cloud-based system segment is anticipated to register the highest CAGR during the forecast period.
- North America led the overall market in 2020, owing to the presence of well-developed healthcare infrastructure, government funding, and high public and private expenditure in the healthcare sector.
- Asia Pacific is expected to be the fastest-growing region over the forecast period.
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Growth Factors
Rising prevalence of eye diseases, such as cataract, glaucoma, age-related macular degeneration, and diabetic retinopathy, is expected to fuel demand for ophthalmology PACS in near future. The Department of Ophthalmology of National University of Singapore conducted a study in collaboration with National University Health System, Singapore and South Central Asia. According to this study, the number of glaucoma cases diagnosed in 2013 was 17.06 million, which is anticipated to reach around 32.9 million by 2040.
Product development, geographical expansion and M&A are some sustainability strategies adopted by major companies in this market. For instance, in August 2017, Carl Zeiss Meditec Inc., acquired Veracity Innovations, LLC, a U.S.-based medical software company that delivers cloud-based platforms to maximize clinical performance and work efficiency. These platforms help ophthalmologists in delivering personalized technology-enabled care to their patients. The acquisition is intended to expand the former company’s eye care-based digital solutions portfolio. The company is also focusing on expanding the business in Asia Pacific owing to larger patient pool in this region.
Type Insights
Integrated systems segment held the major share of the global ophthalmology PACS market in 2020. These systems integrate clinical applications, such as data integration, functional integration, context integration, and presentation integration. Thus, the systems used with diagnostic device provides an ability to physicians to review the patient reports and diagnosis outcomes from anywhere and anytime.
Technological and product advancements in the segment will further boost growth in the near future. For instance, in November 2020, Heidelberg Engineering launched SPECTRALIS glaucoma and retina imaging platform. Features offered by integrated systems, such as easy interpretability, good user interface, data portability, security, cost-effectiveness, and ease of deployment, will further fuel demand for this segment in near future.
Delivery Mode Insights
The cloud-based system segment is anticipated to register the highest CAGR during the forecast period. The cloud-based systems provide flexibility to the physicians for accessing medical records at any time and from anywhere. Thus, healthcare providers worldwide are now using these systems for distributing images, delivering reports, imaging studies, providing redundant data storage.
In addition, companies are focusing on merger and acquisition activities to deliver novel product line. For instance, in April 2018, Topcon Healthcare Solutions, a subsidiary of Topcon Corporation has acquired KIDE Systems, a Finland-based company. Through this acquisition, Topcon added KIDE OPTOFLOW, a cloud-based ophthalmic solution to its portfolio.
End-use Insights
Collaborations between major market players and hospital and clinics to deliver advanced PACS solutions and services will fuel the adoption in the hospitals. For instance, in April 2016, Sectra, an international medical imaging IT company, and ProMedica, a U.S.-based hospital chain, entered into a six-year contract to deliver PACS services to ProMedica.
Moreover, government initiatives to increase adoption of systems in hospitals will further propel segment growth. For instance, according to an independent study published in JAMA Ophthalmology, adoption of EHR has nearly doubled from 19% in 2006 to 72.1% in 2016 in the U.S.
Regional Insights
North America led the overall market in 2020, owing to the presence of well-developed healthcare infrastructure, government funding, and high public and private expenditure in the healthcare sector. Rising ophthalmic disease burden is expected to fuel the region’s growth further. According to a study conducted by the National Institutes of Health (NIH), in 2019, the annual economic burden of eye disease, vision loss, and other disorders was around USD 145 billion in the U.S.
Asia Pacific is expected to be the fastest-growing region over the forecast period. The healthcare sector in this region is expected to witness lucrative growth owing to high budget allocation to improve healthcare outcomes, reduce disease burden, and to address the high unmet clinical needs. Moreover, government initiatives encouraging the usage of EHR and EMR will further fuel the market growth. For instance, ‘Electronic Health Records Standards and Guidelines’ set by the Indian government and The Digital India Healthcare’ initiatives have uplifted the adoption of EHR in the country.
Key Players
Carl Zeiss Meditec AG; Topcon Corp.; Merge Healthcare, Inc. (IBM Watson Health); Heidelberg Engineering GmbH; Visbion Ltd.; Sonomed Escalon; EyePACS, LLC; VersaSuite; and ScImage, Inc.
Market Segmentation
- Type Outlook
- Standalone
- Integrated
- Delivery Mode Outlook
- On-Premise System
- Cloud-Based System
- End-use Outlook
- Hospital
- Specialty Clinics
- Others
- Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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