New York, April 04, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Specialty PACS Market Size, Share & Industry Trends Analysis Report By Deployment Model, By Type, By End User, By Regional Outlook and Forecast, 2021 - 2027" - https://www.reportlinker.com/p06249533/?utm_source=GNW
The PACS systems are one of such technological advancements. PACS refers to picture archiving & communication skill systems, which is an imaging technology mainly used by the healthcare industry.
The PACS helps in the transmission of the image from the site of acquisition to multiple locations that require the image. The picture archiving & communication system is capable to access multiple models like CT, radiographs, ultrasound, and MRI at the same time on multiple locations within the hospitals as well as across different areas.
The main function of PACS is to make image viewing easier and help to manage the medical data. For example, to match the requirements of technology in the healthcare sector, the JPI healthcare solutions designed ExamVue PACS. The ExamVue PACS can be used by large as well as small hospitals with a limit of 10 viewers. This software can easily be installed across the office to show the x rays of patients as well as to perform diagnoses in the private office.
The World Health Organization predicts that the population of people with the age of 60 or more will increase up to 2 billion by 2050 in the world, which would result in the demand for healthcare services. Moreover, the increasing investment in medical imaging will boost the demand for specialty PACS. The major factor responsible for the increased load on healthcare sector is the rising number of scans among various small & large medical facilities.
COVID-19 Impact Analysis
The outbreak of the COVID-19 pandemic has impacted almost all the industries across the world. The pandemic has brutally affected the specialty PACS market which has recorded a decrease in the demand for PACS devices.
In addition, the disturbance in import & export of raw material as well as final products, less production due to the complete lockdown along with various other restrictions imposed by the government authorities resulted in disrupted supply chain. Also, the increased number of healthcare workers falling ill in the pandemic has led to the less productivity. The decline in hospital visits due to the risk of coronavirus spread has resulted in reduced demand for PACS systems in the market.
Market Growth Factors:
Increasing geriatric population
The number of aged population is continuously rising in the world. Various problems are accompanied by the aging of the musculoskeletal system which results in changes in bones and soft tissues. The risk of fractures due to alteration in bone-like osteoporosis & osteomalacia is more in old age people. Osteoarthritis is one of the common musculoskeletal diseases found in the elder population. Thus, the surgeries in old age people is also high due to high spread of chronic diseases.
Advantages associated with specialty PACS
The adoption of picture archiving & communication systems (PACS) has changed the working style of the healthcare industry. The technological advancements have made it possible for physicians to share medical images report electronically with ease and in less time with the help of PACS systems. The main advantage of PACS systems is that it provides digital imaging which enables medical professionals to have a closer and clear look at images.
Market Restraining Factors:
Inefficiency of PACS systems
Instead of various benefits associated with the use of PACS systems for imaging, the PACS system can also be a confusing decision for the radiology providers and outpatient imaging centers. Each center deals with the different situations and thus requires different specialized solution. The PACS systems mainly focus on the needs of radiology facilities of healthcare centers, whereas the administrators of imaging centers do not have the same requirements as hospital administrators which sometime make the PACS system inefficient for such imaging centers.
Deployment Model Outlook
Based on the deployment model, the specialty PACS market is fragmented into on-premises specialty PACS, cloud-based specialty PACS. In 2020, the on-premises specialty PACS segment dominated the specialty PACS market by generating the highest revenue share. This dominance is because of the spread of various chronic diseases in both developing & developed countries, growing demand for medical imaging, and various initiatives taken by the government.
Type Outlook
On the basis of type, the specialty PACS market is segmented into radiology PACS, orthopedics PACS, oncology PACS, pathology PACS, ophthalmology PACS, women’s health PACS. The orthopedics PACS segment acquired a significant revenue share in the specialty PACS market in 2020. Increasing demand for making image integration flexible which lets the surgeons easily access images from anywhere has grown the adoption of specialty PACS systems in orthopedics.
End User Outlook
By end user, the specialty PACS market is categorized into hospitals & clinics and ambulatory surgical centers. In 2020, the ambulatory surgical centers segment accounted for a significant revenue share in the specialty PACS market. These are the modern healthcare facilities providing same day diagnoses because of the lesser stay time of patient they require to have a fast and efficient technology for imaging which is increasing the demand for of PACS systems in this segment.
Regional Outlook
Region wise, the specialty PACS market is analyzed in North America, Europe, Asia Pacific, and LAMEA. In 2020, the North America region emerged as the leading region in the specialty PACS market with the largest revenue share. This is because of the rise in the availability of better health care facilities & skilled medical professionals along with the increasing investment by the government in the healthcare industry in the region.
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; International Business Machines Corporation and Siemens AG are the forerunners in the Specialty PACS Market. Companies such as Canon, Inc., INFINITT Healthcare Co. Ltd. and Topcon Corporation are some of the key innovators in the Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Novarad Enterprise Healthcare Solutions, Escalon Medical Corp., IBM Corporation, Siemens AG, Canon, Inc., INFINITT Healthcare Co. Ltd., Koninklijke Philips N.V., McKesson Corporation, Carestream Health, Inc., and Topcon Corporation.
Recent Strategies deployed in Specialty PACS Market
Partnerships, Collaborations and Agreements:
Jan-2022: Infinitt partnered with Lunit, a medical AI software company. The company aimed to provide Lunit AI software that efficiently analyzes mammography images to detect lesions capable of indicating breast cancer & providing location information for any detected lesions in the form of outlines & heatmaps.
Nov-2021: Novarad extended its partnership with PenRad, a provider of automated tracking and reporting system for lung screening. The partnership aimed to integrate PenRad ’s lung screening platform, PenLung with NovaPACS enterprise imaging platform.
Aug-2021: Topcon Healthcare entered into a partnership with RetInSight, a developer of retina AI solutions based in Vienna, Austria. This partnership aimed to design a seamless interface between RetInSight’s AI-assisted retinal biomarker applications & Topcon’s market-leading¹ OCT devices & cloud-based data management solution, Harmony.
Nov-2020: Siemens Healthineers came into a partnership with the University of Iowa Health Care (UI Healthcare), a comprehensive academic medical center providing world-class health care & health-related outreach services to all Iowan. The partnership aimed to provide Iowans with access to cutting-edge medical imaging technology as well as leverage AI and data analytics to enhance the performance & efficiency of medical imaging which would expand research opportunities and invest in training & development for staff & students.
Sep-2020: Siemens join hands with WakeMed Health & Hospitals, a 919-bed healthcare system with multiple facilities placed around the metropolitan Raleigh, North Carolina area. Under this partnership, the companies would innovate care delivery and enhance patient outcomes by advanced imaging capabilities, robotics initiatives, & artificial intelligence along with provider and staff training.
Aug-2020: Canon Medical entered into a partnership with Zebra Medical Vision, a pioneer in the AI medical imaging space setting the standard for advanced AI in radiology. Through this partnership, the companies would offer AI1 automated imaging analysis solutions for providing clinicians with fast and accurate diagnoses for optimized patient care.
Product Launches and Product Expansions:
Nov-2021: IBM Watson Health launched IBM Imaging AI Orchestrator, a cloud-based subscription to multiple imaging AI apps. Through this launch, the company aimed to help imaging organizations mainly radiologists experience the benefits of having AI applications work seamlessly together. In addition, this latest solution would modernize the radiologist’s reading experience as well as reduce the need for IT and imaging system administrators.
Aug-2021: Canon Medical Expanded AI-Based Image Reconstruction Technology to Body Applications on Galan 3T MR System. The expansion would demonstrate the company’s commitment to offering accessible AI which can be used by clinicians to make the greatest impact on patient care by making images easy to analyze and access.
Jun-2021: Novarad Corporation unveiled CryptoChart, a software-only version of its award-winning medical information sharing product. The CryptoChart would allow physicians to share medical images and medical chart information safely, securely, and instantly through a QR code instead of burning a CD or creating complex user names and passwords.
Acquisitions and Mergers:
Jul-2021: Topcon Corporation took over VISIA Imaging, an ophthalmic device manufacturer headquartered in Florence, Italy. This acquisition aimed to improve the company’s development & manufacturing capabilities of anterior segment devices & software, which enhance the company’s strong portfolio of posterior segment imaging devices which include fundus cameras & optical coherence tomography (OCT). In addition, the acquisition would also reinforce Topcon’s position as a leading ophthalmic diagnostic device manufacturer.
Scope of the Study
Market Segments covered in the Report:
By Deployment Model
• On premises
• Cloud-based
By Type
• Radiology PACS
• Orthopedics PACS
• Oncology PACS
• Pathology PACS
• Ophthalmology PACS
• Women’s health PACS
• Others
By End User
• Hospitals & Clinics
• Ambulatory Surgical Centers
• Others
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• Novarad Enterprise Healthcare Solutions
• Escalon Medical Corp.
• IBM Corporation
• Siemens AG
• Canon, Inc.
• INFINITT Healthcare Co. Ltd.
• Koninklijke Philips N.V.
• McKesson Corporation
• Carestream Health, Inc.
• Topcon Corporation
Unique Offerings
• Exhaustive coverage
• Highest number of market tables and figures
• Subscription based model available
• Guaranteed best price
• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06249533/?utm_source=GNW
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