Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Picture Archiving and Communication System (PACS) is a medical imaging technology, which offers economical storage and convenient access to images from multiple modalities. PACS aids in digitally transmitting electronic images and reports. PACS offers the electronic platform for radiology images interfacing with Radiology Information System (RIS).

The global PACS and RIS market is estimated to account for US$ 3,045.0 Mn in terms of value in 2020 and is expected to reach US$ 4,821.6 Mn by the end of 2027.

Global PACS and RIS Market: Drivers

Emergence of pandemic diseases is expected to boost growth of the global PACS and RIS market over the forecast period. For instance, there were 3,525,116 confirmed cases of COVID-19, including 243,540 deaths, as reported to WHO as of May 5, 2020.

Moreover, increasing adoption of digital pathology is also expected to aid in growth of the market. For instance, in April 2020, ContextVision, a digital pathology solutions provider, reported that the company’s sales in Q1 ended at US$ 2.98 million, a substantial increase of 38.4% compared to the first quarter in 2019 and its EBITDA was US$ 14.06 million and the operating result ended at US$ 12.03 million.

PACS held dominant position in the global PACS and RIS market in 2019, accounting for 83.1% share in terms of value, followed by RIS, respectively.

Figure 1. Global PACS and RIS Market Share (%), by Value, by Product Type, 2019

PACS and RIS  | Coherent Market Insights

Global PACS and RIS Market: Restraints

RIS and PACS are prone to cyber-attacks, which increases concerns regarding data safety in the healthcare sector. This in turn is expected to hinder growth of the global PACS and RIS market over the forecast period.

Moreover, high cost of PACS and RIS is also expected to limit growth of the market. For instance, conventional PACS systems can cost around US$ 5,000 to US$ 100,000.

Global PACS and RIS Market: Opportunities  

Increasing adoption of cloud-based PACS is expected to offer lucrative growth opportunities for players in the market. Cloud-based PACS offers several benefits such as on-demand self-service, broad network access, resource pooling, rapid elasticity, and measured service.

Moreover, increasing adoption of mobile apps in the healthcare sector is also expected to aid in growth of the market.

The global PACS and RIS market was valued at US$ 2,833.1 Mn in 2019 and is forecast to reach a value of US$ 4,821.6 Mn by 2027 at a CAGR of 6.8% between 2020 and 2027.

Figure 2. Global PACS and RIS Market Value (US$ Mn), and Y-o-Y Growth (%), 2019-2027

PACS and RIS  | Coherent Market Insights

Market Trends/Key Takeaways

Launch of mobile apps that integrate with RIS and PACS is expected to aid in growth of the market. For instance, in April 2020, MedInformatix, a health IT company, launched Wait in Car, a new mobile-friendly application that allows patients to wait in the safety of their automobiles for assigned medical appointments. The app integrates with RIS platforms and electronic health record (EHR) to provide the service.

Increasing prevalence of chronic disorders is also expected to aid in growth of the market. For instance, according to the American Cancer Society, in 2019, there will be an estimated 1,762,450 new cancer cases diagnosed and 606,880 cancer deaths in the U.S.

Global PACS and RIS Market: Competitive Landscape

Major players operating in the global PACS and RIS market include, Philips Healthcare, Cerner Corporation, Agfa Healthcare, Fujifilm Holdings Corporation, Allscripts Healthcare Solutions Inc., Sectra, Epic Systems Corporation, General Electric Company, Siemens AG, McKesson Corporation, Wellbeing Software, Merge Healthcare Incorporated, Medinformatix Inc., eRAD, Inc., and RamSoft Inc.

Global PACS and RIS Market: Key Developments

Major players in the market are focused on adopting collaboration strategies to enhance their market share. For instance, in April 2020, Sectra, a medical imaging IT and cybersecurity company, collaborated with Hospital for Special Surgery, an academic medical center focused on musculoskeletal health, to integrate FDA approved digital pathology imaging solution with laboratory information system for integrated diagnostics capabilities between radiology and pathology.

Similarly, in April 2020, Wellbeing Software collaborated with Behold.ai, through which the Behold.ai’s artificial intelligence-based red dot algorithm will be used with Wellbeing Software’s Cris, a RIS, for fast-track diagnosis of COVID-19 in U.K.

Picture Archiving and Communication System (PACS) is a medical imaging technology used for storing, retrieving, sharing and presenting images produced by various medical devices, such as ultrasound, CT scan, X-ray, and MRI machines. The technology have been majorly used in healthcare systems and in hospitals. These are usually related to radiology departments that produces large number of medical images. PACS technologies also include images produced by other departments, such as dermatology, oncology, pathology and cardiology. In addition to sharing images within health systems and hospitals, the technology can combine with ambulatory clinics and with external health systems.

Restraints of the Global PACS and RIS Market

Major factors hampering the growth of the PACS and RIS market during the forecast period constitutes of high costs and risks associated with cyber-attacks.

Key features of the study:

  • This report provides in-depth analysis of the global PACS and RIS market and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2019–2027), considering 2018, as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the global PACS and RIS market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments, strategies, and future plans
  • Key companies covered as a part of this study include Philips Healthcare, Cerner Corporation, Agfa Healthcare, Fujifilm Holdings Corporation, Allscripts Healthcare Solutions Inc., Sectra, Epic Systems Corporation, General Electric Company, Koninklijke Philips N.V., Siemens AG, McKesson Corporation, Wellbeing Software, Merge Healthcare Incorporated, Medinformatix Inc., eRAD, Inc., and RamSoft Inc.
  • Insights from this report would allow marketers and the management authorities of companies to make informed decision regarding future product launches, technology up-gradation, market expansion, and marketing tactics
  • The global PACS and RIS market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the market.

Detailed Segmentation

  • Global PACS and RIS Market, By Product Type:
    • RIS
    • PACS
  • Global PACS and RIS Market, By Component:
    • Hardware
    • Software
    • Services
  • Global PACS and RIS Market, By Deployment:
    • Web Based
    • Cloud Based
    • On Premise
  • Global PACS and RIS Market, By End User:
    • Hospitals
    • Diagnostic Centers
    • Research & Academic Institutes
    • Ambulatory Surgical Centers
  • Global PACS and RIS Market, By Geography:
    • North America
      • By Product Type
        • RIS
        • PACS
      • By Component:
        • Hardware
        • Software
        • Services
      • By Deployment
        • Web Based
        • Cloud Based
        • On Premise
      • By End User
        • Hospitals
        • Diagnostic Centers
        • Research & Academic Institutes
        • Ambulatory Surgical Centers
      • By Country:
        • U.S.
        • Canada
    • Europe
      • By Product Type
        • RIS
        • PACS
      • By Component:
        • Hardware
        • Software
        • Services
      • By Deployment
        • Web Based
        • Cloud Based
        • On Premise
      • By End User
        • Hospitals
        • Diagnostic Centers
        • Research & Academic Institutes
        • Ambulatory Surgical Centers
      • By Country:
        • U.K.
        • Germany
        • Italy
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Product Type
        • RIS
        • PACS
      • By Component:
        • Hardware
        • Software
        • Services
      • By Deployment
        • Web Based
        • Cloud Based
        • On Premise
      • By End User
        • Hospitals
        • Diagnostic Centers
        • Research & Academic Institutes
        • Ambulatory Surgical Centers
      • By Country:
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • By Product Type
        • RIS
        • PACS
      • By Component:
        • Hardware
        • Software
        • Services
      • By Deployment
        • Web Based
        • Cloud Based
        • On Premise
      • By End User
        • Hospitals
        • Diagnostic Centers
        • Research & Academic Institutes
        • Ambulatory Surgical Centers
      • By Country:
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Middle East:
      • By Product Type
        • RIS
        • PACS
      • By Component:
        • Hardware
        • Software
        • Services
      • By Deployment
        • Web Based
        • Cloud Based
        • On Premise
      • By End User
        • Hospitals
        • Diagnostic Centers
        • Research & Academic Institutes
        • Ambulatory Surgical Centers
      • By Country:
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Product Type
        • RIS
        • PACS
      • By Component:
        • Hardware
        • Software
        • Services
      • By Deployment
        • Web Based
        • Cloud Based
        • On Premise
      • By End User
        • Hospitals
        • Diagnostic Centers
        • Research & Academic Institutes
        • Ambulatory Surgical Centers
      • By Country/Region:
        • Central Africa
        • South Africa
        • North Africa
  • Company Profiles
    • Philips Healthcare*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
    • Cerner Corporation
    • Agfa Healthcare
    • Fujifilm Holdings Corporation
    • Allscripts Healthcare Solutions Inc.
    • Sectra
    • Epic Systems Corporation
    • General Electric Company
    • Siemens AG
    • McKesson Corporation
    • Wellbeing Software
    • Merge Healthcare Incorporated
    • Medinformatix Inc.
    • eRAD, Inc.
    • RamSoft Inc.

“*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objective and Assumption
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Product Type
      • Market Snippet, By Component
      • Market Snippet, By Deployment
      • Market Snippet, By End User
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Impact Analysis
    • Key Developments
    • Technological Advancement
    • Regulatory Scenario
  4. Global PACS and RIS Market, By Product Type, 2017 – 2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019–2027
      • Segment Trends
    • RIS
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
      • Segment Trends
    • PACS
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
      • Segment Trends
  5. Global PACS and RIS Market, By Component, 2017 – 2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019–2027
      • Segment Trends
    • Hardware
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
    • Software
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
    • Services
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
  6. Global PACS and RIS Market, By Deployment, 2017 – 2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019–2027
      • Segment Trends
    • Web Based
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
    • Cloud Based
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
    • On Premise
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
  7. Global PACS and RIS Market, By End User, 2017 – 2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019–2027
      • Segment Trends
    • Hospitals
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
    • Diagnostic Centers
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
    • Research & Academic Institutes
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
    • Ambulatory Surgical Centers
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
  8. Global PACS and RIS Market, By Regions, 2017 – 2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019–2027
      • Segment Trends
    • North America
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
        • U.S.
        • Canada
    • Europe
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
        • U.K.
        • Germany
        • Italy
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Middle East
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
        • North Africa
        • Central Africa
        • South Africa
  9. Competitive Landscape
    • Company Profiles
      • Philips Healthcare
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Cerner Corporation
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Agfa Healthcare
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Fujifilm Holdings Corporation
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Allscripts Healthcare Solutions Inc.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Sectra
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Epic Systems Corporation
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • General Electric Company
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Siemens AG
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • McKesson Corporation
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Wellbeing Software
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Merge Healthcare Incorporated
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Medinformatix Inc.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • eRAD, Inc.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • RamSoft Inc.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
  10. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse 35 market data tables and 26 figures on “PACS and RIS Market – Global forecast to 2027.

Frequently Asked Questions

The global PACS and RIS market was valued at US$ 2,833.1 Mn in 2019 and is forecast to reach a value of US$ 4,821.6 Mn by 2027 at a CAGR of 6.8% between 2020 and 2027.
Major factor driving the growth of global PACS and RIS market during the forecast period increasing prevalence of pandemic diseases, and increasing demand for digital pathology.
Major factors hampering the growth of the PACS and RIS market during the forecast period constitutes of high costs and risks associated with cyber-attacks.
PACS held dominant position in the global PACS and RIS market in 2019.
North America PACS and RIS market is expected to generate the highest revenue during the forecast period.
Some of the key players operating in the market are Philips Healthcare, Cerner Corporation, Agfa Healthcare, Fujifilm Holdings Corporation, Allscripts Healthcare Solutions Inc., Sectra, Epic Systems Corporation, General Electric Company, Siemens AG, McKesson Corporation, Wellbeing Software, Merge Healthcare Incorporated, Medinformatix Inc., eRAD, Inc., and RamSoft Inc.
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