Market Analysis and Insights of Departmental PACS Market
Rising focus by the government on projects that encourage the use of high data storage technology has led to the rise in demand for departmental PACS technology. Data Bridge Market Research analyses that the departmental PACS market will exhibit a CAGR of around 9.1% for the forecast period of 2021-2028.
ACS stands for picture archiving and communication system. It is an imaging technology focused on serving the needs of modality or modality application. It is a medical technology that helps in storing, presenting, retrieving, distributing, and managing the medical images along with managing the business operations of a department. Thus, departmental PACS provide timely access to departmental information, interpretation, and images. One of the major benefits of this technology is that it replaces the need for hard copy-based medical images. A departmental PACS system has a wide range of applications however its installation requires specialized personnel.
The rising geriatric population coupled with the rising prevalence of chronic diseases is propelling the growth of the departmental PACS market. Rapid advancements being made in medical technology are also fostering the growth of the departmental PACS market. Increased focus on research and development proficiencies in the healthcare sector has also fuelled up the demand for departmental PACS globally. Rising demand for standard-based medical image archiving has created lucrative growth opportunities for the departmental PACS market. Increased adoption of efficient archival technology and data storage has a result widened the scope of growth for the departmental PACS market.
On the other hand, budgetary constraints and high acquisition and installation costs will challenge the market growth rate. Also, the dearth of skilled personnel or trained expertise to operate the technology will further hammer down the market growth rate. Increased data breach incidents and privacy and security concerns will also come forward as an obstruction in the way of market growth.
Global Departmental PACS Market Scope and Market Size
The departmental PACS market is segmented on the basis of application, deployments, components and end users. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
· On the basis of application, the departmental PACS market is segmented into computed tomography, ultrasound, MRI, c-arms, digital radiography, nuclear imaging, and computed radiography.
· On the basis of deployments, the departmental PACS market is segmented into web-based, on-premise and cloud based.
· On the basis of components, the departmental PACS market is segmented into services, software and hardware.
· On the basis of end users, the departmental PACS market is segmented into hospitals, clinic imaging, dental practices, imaging centres, diagnostic centres, research and academic institutes, ambulatory surgical centres and others.
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Departmental PACS Market Country Level Analysis
The countries covered in the departmental PACS market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the market and the region will continue to flourish it dominance during the forecast period. This is because of the increased adoption of medical imaging technologies coupled with prevalence of sophisticated level of healthcare infrastructure. Asia-Pacific on the other hand is projected to undergo the highest compound annual growth rate. This is because of the rising geriatric population coupled with increasing prevalence of chronic diseases. Also, rising awareness regarding the benefits departmental PACS medical technology, the market is projected to undergo substantial gains.
The country section of the departmental PACS market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Departmental PACS Market Share Analysis
The departmental PACS market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to departmental PACS market.
The major players covered in the departmental PACS market report are Acuo Technologies, Agfa-Gevaert Group., IBM, McKesson Corporation, Carestream Health., Koninklijke Philips N.V., Sectra AB, Siemens Healthcare Private Limited, Novarad Corporation, INFINITT North America Inc., Intelerad Medical Systems Incorporated., TOPCON CORPORATION, Canon Inc., Visbion, EYEPACS, LLC, Epic Systems Corporation., FUJIFILM Corporation, GENERAL ELECTRIC COMPANY, EnvoyAI and Hyland Software, Inc. among other domestic and global players. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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