New York, NY, April 02, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Ophthalmology PACS Market by Type (Integrated PACS and Standalone PACS), by Delivery Mode (On-Premises and Cloud-Based), and by End-User (Hospitals, Specialty Clinics, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global ophthalmology PACS market was valued at approximately USD 106 million in 2018 and is expected to generate around USD 180 million by 2025, at a CAGR of around 7.8% between 2019 and 2025.
PACS stands for picture archiving and communication. It is a medical imaging technology used to store, retrieve, present, and share images that are produced through various medical hardware modalities, such as CT scan, X-ray, MRI, and ultrasound machines. Ophthalmology PACS is used to efficiently manage the image data and eliminate the physical limits associated with the communication of radiologic image data on films. The cost of PACS involves initial implementation and ongoing maintenance. An increasing prevalence of eye-related diseases, growing geriatric population, and technological advancements witnessed in ophthalmic devices are fuelling the global ophthalmology PACS market. However, the high cost of care for patients may prove to be a major hindrance for this market’s growth.
Browse through 54 Tables & 25 Figures spread over 110 Pages and in-depth TOC on “Global Ophthalmology PACS Market: Industry Size, Share, Trends, Segments, Growth, Analysis and Forecast 2018–2025”.
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The ophthalmology PACS market is sectored into type, delivery mode, and, end-user. Based on the type, the market is bifurcated into integrated PACS and standalone PACS. The integrated segment held a major market share in 2018 in terms of revenue. These systems help in integrating clinical applications, such as functional integration, data integration, presentation integration, and context integration. Product advancements and sound technology of this segment will further scale-up the ophthalmology PACS market. For instance, Heidelberg Engineering, in November 2015, launched retina imaging platform and SPECTRALIS glaucoma. The features offered by these integrated systems, such as good user-interface, easy interpretability, security, cost-effectiveness, ease of deployment, and data portability will also boost this segment’s growth.
On the basis of delivery mode, the ophthalmology PACS market is divided into on-premises and cloud-based. Cloud-based models are likely to show the highest CAGR in the ophthalmology PACS market. These models provide high flexibility to the physicians to access medical records any time and from anywhere. Thus, healthcare providers globally are using these systems to deliver reports, distribute images, study images, and store data. Additionally, companies are also focusing on mergers and acquisitions to deliver novel product line.
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The end user segment includes hospitals, specialty clinics, and others. Hospitals held a major share of the ophthalmology PACS market in 2018, owing to initiatives taken by the government to increase adoption of ophthalmology PACS systems in hospitals.
By region, North America and Europe dominated the global ophthalmology PACS market in 2018 and are likely to show high growth rate, especially in Canada, Germany, UK, and the U.S. This can be attributed to the rising investments in research and development activities conducted in these countries and high prevalence of eye-related diseases. Furthermore, technological advancements, such as the incorporation of patient portals, and rising disposable incomes of patients are likely to propel the ophthalmology PACS market growth in these regions. As per the stats provided by the National Eye Institute of NIH, around USD 140 billion is spent on eye disorders annually in the U.S alone. The data indicates that there is a high burden of eye diseases in the country. Furthermore, after studying the epidemiology and trends of eye diseases, the National Eye Institute concluded that by 2030, around 2.5 million people in the country will be suffering from vision abnormalities.
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Growing healthcare expenditure in developing countries, such as China and India, and advancements made in software using artificial intelligence are likely to provide multiple opportunities for market expansion in the Asia Pacific region. The healthcare sector of this region is witnessing huge growth due to an increased budget allocation to reduce disease burden, improve healthcare outcomes, and address the high unmet clinical needs. For instance, The Digital India Healthcare and EHR Standards and Guidelines set by the Indian government have enhanced the adoption of EHR in the country. Additionally, India has a growing diabetic populace, mostly in the country’s rural states, due to the unavailability of ophthalmologists. Additionally, government initiatives are encouraging the use of EMR and HER, which is fueling the region’s ophthalmology PACS market.
The economically developing regions like Latin America and MEA are still lagging behind the developed countries, but these regions possess huge potential for market growth, owing to a slew of growth avenues opportunities and funds provided by the government to companies and manufacturers to conduct research activities for improved patient healthcare.
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Some leading players in ophthalmology PACS market include Visbion, Medical Standard, IBM Corporation, Topcon Corporation, Versasuite, EyePACS, Heidelberg Engineering, Scimage, Sonomed Escalon, and Canon USA, Inc.
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This report segments the global ophthalmology PACS market as follows:
Global Ophthalmology PACS Market: Type Analysis
- Integrated PACS
- Standalone PACS
Global Ophthalmology PACS Market: Delivery Mode Analysis
- On-Premises
- Cloud-Based
Global Ophthalmology PACS Market: End-User Analysis
- Hospitals
- Specialty Clinics
- Others
Global Ophthalmology PACS Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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