PACS and RIS Market Size, Share, Growth, Trends, Scope, Forecast 2021-2030

According to Vision Research Reports, the PACS and RIS market size was valued at US$ 2.7 billion in 2020 and expected to reach US$ 4.72 billion by 2030, expanding at a CAGR of 5.5% from 2021 to 2030. The global PACS and RIS market is driven by rising health concerns and growing demand for digitization of products by government.

Key Driver

Globally, governments have recognized the importance of health care IT and are encouraging the usage of PACS and RIS for in-depth and accurate analysis of the health of a patient. Health care IT systems not only improve ease of use, but management of a large number of patient records, and transparency in medical insurance claim process.

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Adoption of EMR systems in both hospital and office-based practices is increasing. Demand for PACS and RIS is increasing as these allow medical images to be saved electronically.

This requirement effectively ensures that the radiology information system and picture archiving communication system for the caregivers is ensuring the electronic accessibility of the images.

The U.S. Government encourages adoption of health care IT products such as hospital information systems in the hospitals.

Overview

• A picture archiving and communication system (PACS) is a medical imaging technology which provides economical storage of, and convenient access to, images from multiple modalities.
• RIS (radiology information system) is a computerized database used by radiology departments to store, manipulate, and distribute patient radiological data and imagery.
• PACS and RIS are being utilized more than conventional systems for medical imaging. PACS and RIS are the right choices for a sustainable future. Adoption of PACS and RIS is increasing in a number of health care facilities and high-value products, such as cardiology PACS, orthopedic PACS, and oncology PACS.
• North America dominated the global PACS and RIS market in 2018 and the trend is anticipated to continue during the forecast period. Rising health care demand and substantial government interventions for research and development are the major factors supporting market growth of the market.

Restraints

• PACS are widely installed in big healthcare provider, data networks, were experts say providers of all sizes should look to strengthen the cyber security of their medical imaging systems.
• Medical devices connected to integrated delivery networks and hospital computer networks including image-producing hardware such as MRI machines can present both cyber security and patient safety concerns

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Increase in number of cardiology procedures Globally To Drive PACS and RIS Market

• Cardiology imaging vendors have adopted digital imaging and communications in medicine (DICOM) standard to develop commercial PACS specifically designed for cardiology. Since cardiology studies are dynamic, large number of images and a vast amount of data are generated per study. Also, the number of cardiology studies performed is increasing by 20% per year. Considering the large records, cardiology can expect to benefit substantially from the electronic management of images. This drive the demand for the PACS and RIS

PACS Segment to Capture Largest Market Share

• Based on product type, the market has been segmented into PACS and RIS. PACS emerged as the leading segment in terms of revenue in 2020, attributed to high demand and widespread use of PACS such as cardiology PACS and orthopedic PACS. Among various types of PACS products, the oncology PACS segment is likely to record the highest growth rate from 2021 to 2030. This is attributed to increase in prevalence of cancer. In addition, increase in demand for complete diagnosis is likely to fuel the growth of this segment.

 Web-based Deployment to Dominate Market in Term of Method of Deployment

• In terms of deployment, the market segmented as web-based, cloud-based, and on-premise. Web-based dominates the global PACS AND RIS market and this is attributed to high demand for multi-modality support for efficient workflow management of medical imaging practices at number of locations. The cloud-based segment is likely to record the highest growth rate from 2021 to 2030. This is because cloud-based systems provide increased cyber security and additional storage, which is essential due to increased number of health care procedures etc.

Hospital to be Highly Lucrative Segment

• Based on end-user, the PACS and RIS market has been segmented into hospitals, diagnostic centers, research & academic institutes, and ambulatory diagnostic centers. Hospitals is the major end-user of PACS and RIS due to high number of medical examinations in terms of medical images, which require large storage and accessibility to physicians.

North America to Dominate Global Market

• In terms of region, the global PACS and RIS market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global PACS and RIS market in 2020, followed by Europe.
• The growth of the PACS and RIS market in North America is drive owing to its increasing technological advancements Demand for PACS in North America is high due to increasing prevalence of diseases and the need for data management.  

Competitive Landscape

• Key players in the global market include GE Healthcare, Philips Healthcare, Fujifilm Holdings Corporation, McKesson Corporation, Siemens Healthineers, Agfa Healthcare, and Allscripts Healthcare Solutions, Inc. GE Healthcare, Philips Healthcare, and Fujifilm Holdings Corporation exhibit the largest geographical outreach, with presence in multiple PACS and RIS product categories others among others.

Market Segmentation:

By Product

• RIS
• PACS
  • Cardiology PACS
  • Dental PACS
  • Oncology PACS
  • Orthopedic PACS
  • Others

By Component

• Hardware
• Software
• Services

By Deployment

• Web-based
• Cloud-based
• On-premise

By End Users  

• Hospitals
• Diagnostic Centers
• Research & Academic Institutes
• Ambulatory Surgical Centers

By Region

• North America
• Europe
• Asia Pacific          
• Latin America
• Middle East & Africa

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