Meticulous Research®, a leading global market research firm, has released its latest report titled “VNA & PACS Market by Procurement (PACS [Departmental {Radiology, Mammography, Dental} Enterprise] VNA [Enterprise, Multi-site] [CT, Angiography, MRI, Ultrasound]), Delivery (On-Premise, Cloud, Hybrid), Vendor Type, End User – Global Forecast to 2031.” According to this comprehensive analysis, the VNA & PACS market is expected to reach a valuation of $6.50 billion by 2031, registering a robust CAGR of 7.2% during the forecast period.
- Market Growth Drivers
The rapid growth of the VNA & PACS market is primarily fueled by substantial investments in medical imaging technologies, increasing demand for imaging equipment, and significant technological advancements in diagnostic imaging modalities. Additional factors contributing to market expansion include the rising volumes of geriatric imaging, the increasing presence of big data in healthcare, and the widespread adoption of healthcare IT and electronic health records (EHR).
The integration of PACS/VNA systems with electronic medical records (EMR), the growing penetration of artificial intelligence (AI) in medical imaging, and the rising adoption of hybrid and cloud-based imaging solutions present significant growth opportunities. The expanding telehealth market is also expected to drive demand for these solutions.
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- Challenges and Constraints
Despite the promising growth prospects, the VNA & PACS market faces several challenges. The extended product lifecycle of VNA systems and budgetary constraints pose significant hurdles to market growth. Additionally, data migration issues and lack of interoperability remain persistent challenges for healthcare providers.
- Key Market Players
The report highlights the key players shaping the VNA & PACS market landscape, including:
- Novarad Corporation (U.S.)
- Koninklijke Philips N.V. (Netherlands)
- Siemens Healthineers AG (Germany)
- Agfa-Gevaert NV (Belgium)
- Mach7 Technologies (Australia)
- GE HealthCare Technologies Inc. (U.S.)
- Fujifilm Holdings Corporation (Japan)
- Sectra AB (Sweden)
- Bridgehead Software, Ltd. (U.K.)
- INFINITT Healthcare Co., Ltd. (South Korea)
- Hyland Software, Inc. (U.S.)
- ASPYRA, LLC (U.S.)
- Merative L.P. (U.S.)
- SoftTeam Solutions Pvt Ltd. (India)
- Carestream Health, Inc. (U.S.)
- Neusoft Corporation (China)
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- Future Outlook
The VNA & PACS market segmentation includes procurement models such as departmental PACS and enterprise PACS. In 2024, the departmental PACS segment is projected to hold the largest share, driven by the growing use of imaging data across various medical departments, including radiology, cardiology, and oncology. Radiology PACS is expected to dominate the departmental PACS market due to increasing adoption in emerging markets, advancements in imaging technologies, and favorable reimbursement policies.
The report also examines delivery modes, with the on-premise PACS segment anticipated to maintain its leading position in 2024. On-premise solutions offer benefits like faster data access and enhanced control over data security, which are key factors driving their adoption.
- Geographical Insights
Geographically, North America is poised to dominate the VNA & PACS market in 2023, followed by Europe and Asia-Pacific. The U.S. is expected to hold the largest market share in North America, driven by the presence of leading industry players, advanced healthcare infrastructure, and growing demand for standardized medical image archiving solutions.
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Key Questions Addressed in the Report
- What are the high-growth segments in the VNA & PACS market?
- What are the market forecasts and estimates for 2024–2031?
- Who are the major players in the global VNA & PACS market?
- What are the recent developments and strategies adopted by key players?
- What are the geographical trends and high-growth regions?
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