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Specialty PACS Market: Global Opportunity Analysis and Industry Forecast, 2019–2027

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Jun 2021 | 51 Views
 
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COVID-19

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PACS stands for picture archiving and communication system that is used as medical imaging technology, which helps to provide convenient access to images from multiple modalities, and also helps to automate medical imaging process. PACS is considered as an automated image management program for medical imaging. It involves archiving services, database and framework providing user with integrated system application for viewing images. Element required for specialty PACS such as hardware imaging machine, a secure network for the distribution, mobile device for viewing, electronic record for storing and retrieving images, processing and innovative images, related documents and report. Specialty PACs functioning as a system for digital storage, retrieval and transmission of radiology images. PACS system have both software and hardware component which interface imaging modalities and obtain digital image from the modalities. Specialty PACs have various advantages such as improved patient care in healthcare facilities, it is easy to use, storing and organizing pictures data with its agnostic database that is accessible and centralized PACS that is most commonly used in cardiac ICU. Most commonly used specialty PACS such as Ambra health cloud PACS it can be used to enable easy image exchange, view imaging from any time anywhere and store imaging safely. The global specialty PACS market is experiencing significant growth, and will grow considerably in the next few years. 

Specialty-PACS

Market scope and structure analysis:

Report Metric

Details

  Market size available for years

  2020–2027

  Base year considered

  2019

  Forecast period

  2021–2027

  Forecast units

  Value (USD)

  Segments covered

  Type, Deployment Model, Component End User.

  Regions covered

North America (U.S. and Canada), Europe (Germany, UK, France, and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), Latin America (Brazil, Mexico, and the Rest of LATAM) and The Middle East and Africa

  Companies covered

Major players analyzed include, IBM Corporation (US), Carestream Health (Canada), McKesson Corporation (US), Siemen Healthineers (Germany), Phillips Healthcare(Netherland),  Agfa Healthcare (Belgium), Sectra AB (Sweden), Novard (US), INFINITT North America (US), Intelerad Medical Systems (Canada), Topcon Corporation(JAPAN), Sonomed Escalon (US), Canon USA, Inc. (US), Visbion (UK), EyePACS LLC (US)

.

 

COVUID-19 Scenario Analysis:

The coronavirus pandemic is having a huge impact on businesses and has already caused an unprecedented collapse of economic activities. The COVID-19 impact is straining the healthcare systems globally. The rapidly increasing demand for healthcare facilities and healthcare workers may leave only a few healthcare systems to fulfill the increasing demand during the pandemic situation. 

The COVID-19 pandemic cases are because of direct or indirect contact between humans. There has been no evidence or confirmation that animals can spread COVID-19 to humans. The myth animals can spread the virus to humans has increased the number of abandoned pets. Furthermore, COVID-19 has weakened the supply chain and has created shortage of animal health products such as nutritional feed as well as vaccines globally. The animal health industry has been impacted largely as many manufacturers in animal health industry are left with a significantly reduced workforce. Also, stringent government policies such as restrictions of import of raw materials from China is expected to hamper the animal health market.

Healthcare facilities are stocking up the animal related health products, considering the high demand. This is expected to further create financial strain on the market due to procurement inefficiencies and wasted speeding. Due to the pandemic situation, many hospitals and veterinary clinics are overstocking the products.

To take care of infected population the demand for medical supplies is increasing. Respiratory support devices such as atomizer, life-support machine, oxygen generator, and monitor are among the majorly used medical devices in primary clinical treatment. Moreover, COVID-19 has led to a huge surge in demand for medical supplies such as personal protective equipment including masks, gloves, and protective eyeglasses. With rise in number of COVID-19 cases worldwide, the need for medical supplies keeps on rising among, both from healthcare professionals and civil population for precautionary measures. Manufacturers of these products have a chance to capitalize this increased demand of medical supplies to ensure adequate and continuous supply of personal protective equipment in the market. Ongoing outbreak of COVID-19 impacted on various pharmaceutical sectors and industries as well. The outbreak of COVID-19 pandemic has affected the specialty PACS market, health facilities, their supply chain, and demand of PACS devices reduces. It affects mostly the major players of the specialty PACS market, due to the shutdown of the industries they have experienced losses in their businesses. 

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

By region, North America dominates the specialty PACS market due to adoption of advanced technology, increasing geriatric population and growing medical imaging volumes. Whereas Asia-Pacific is expected to increase market growth rate owing to adoption of imaging solution, and rising prevalence of chronic diseases. The factors that drive the growth of the market such as increasing investment in medical imaging, rising use of imaging equipment, growing geriatric population, increasing chronic diseases, increasing adoption of medical imaging health care IT solution, increasing advancement in specialty PACS, rising government initiative to increasing adoption of healthcare IT solution, and increasing awareness of early disease diagnosis. Factors that restrain the specialty PACS market such as large number of people unaware about technology, increasing cost of treatment, slow development in specialty PACS, and less government initiative in increasing adoption of healthcare IT solution. The opportunity available in the market such as rising ambulatory centers, increasing advancement in R&D, reduce the cost of product and treatment, rising hospital facilities, and advancements in imaging solution.  

New product launches to flourish the market

The launch of new products that contain improved capabilities have been launched by leading market players. They have taken necessary steps to improve accuracy of devices and overall functionality as well. In 2018, “Change healthcare” and “United State Defense Agency” entered into collaboration, to provide 30,000 installation of “enterprise imaging solution” such as picture achieving and communication system diagnostic imaging and workflow products, cardiovascular imaging system, and radiology solution.  In 2019, “Agfa Healthcare” implementing,” Agfa enterprise imaging solution, which helps to optimize patient care. In 2019, “Sectra and Deventer Hospital” entered into collaboration, to install “Sectra Solution” across the radiology and nuclear medicines department in Deventer Hospital. 

Key segments covered:

Segments

Sub-segments

  Type

  • Radiology PACS
  • Orthopedics PACS
  • Oncology PACS
  • Pathology PACS
  • Endoscopy PACS
  • Women’s health PACS

  Deployment Model

  • On Premises Specialty PACS
  • Cloud-based Specialty PACS

  Component

  • Software
  • Hardware
  • services

  End Users

  • Hospitals
  • Ambulatory Surgical Centers
  • Clinics
  • Diagnostic Imaging Centers
  • Research Centers


Key benefits of the report:

  • This study presents the analytical depiction of the global Specialty PACS industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global Specialty PACS market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global Specialty PACS market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed global Specialty PACS market analysis based on competitive intensity and how the competition will take shape in coming years. 

Questions answered in the Specialty PACS Market research report:

  • What are the leading market players active in the Specialty PACS market?
  • What the current trends will influence the Specialty PACS market in the next few years?
  • What are the driving factors, restraints, and opportunities in the Specialty PACS market?
  • What are the projections for the future that would help in taking further strategic steps?
 
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