Specialty PACS Market is expected to attain an Outstanding Growth in Upcoming Years
The global Specialty PACS market is segmented on the basis of type, deployment model, component, end user, and region. The growth in this market is driven mainly by the increasing geriatric population and subsequent growth in the incidence of various diseases, advantages associated with specialty PACS, government initiatives to increase the adoption of healthcare IT solutions, growing investments in medical imaging, rising adoption of medical imaging IT solutions, and increasing use of imaging equipment.
Based on the type, the specialty PACS market is segmented into radiology PACS, cardiology PACS, pathology PACS, ophthalmology PACS, orthopedics PACS, oncology PACS, dermatology PACS, neurology PACS, endoscopy PACS, women’s health PACS, and other specialty PACS. The radiology PACS segment accounted for the largest share of the market in 2018; however, the ophthalmology PACS segment is expected to register the highest CAGR of during the forecast period. The increasing prevalence of eye diseases and disorders, the growing number of ophthalmic surgeries performed, and technological advancements in ophthalmology devices are some of the factors driving the growth of this segment.
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Based on the deployment model, the market is segmented into on-premise and web/cloud-based specialty PACS. The on-premise segment is expected to account for the largest share of the market. This can be attributed to the easily customizable nature of on-premise solutions, as compared to web/cloud-based specialty PACS.
Based on the end-user, the medical market is segmented into hospitals, ambulatory surgery centers (ASCs) & clinics, diagnostic imaging centers, and other end-users. The rising patient population, growing awareness about the benefits of early disease diagnosis, technological advancements in imaging modalities, increasing digitization of patient data, and rapid growth in EMR adoption are some significant factors responsible for the large share and fastest growth of this segment during the forecast period.
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In 2018, North America commanded the largest share of the market due to factors such as increasing medical imaging volumes and several diagnostic imaging centers, growing geriatric population, and the fast adoption of technologically advanced imaging systems. However, Asia Pacific is expected to grow at the highest CAGR during the forecast period.
The major players operating in this market are IBM Corporation (Merge Healthcare Incorporated) (US), McKesson Corporation (US), Agfa Healthcare (Belgium), Carestream Health (a part of Onex Corporation) (Canada), Philips Healthcare (Netherlands), Sectra AB (Sweden), Siemens Healthineers (Germany), Novarad (US), INFINITT North America (US), Intelerad Medical Systems (Canada), Topcon Corporation (Japan), Sonomed Escalon (US), Canon USA, Inc. (US) (a subsidiary of Canon Inc.), Visbion (UK), and EyePACS, LLC (US).