VNA & PACS Market to be Worth $4.89 billion by 2027- Exclusive Report by Meticulous Research® Covering Emerging Growth Factors

London, April 01, 2021 (GLOBE NEWSWIRE) — According to a new market research report, “ VNA Market and PACS Market by Procurement (Departmental and Enterprise), Delivery (On-Premise, Hybrid, Cloud-Based), Vendor (PACS, Independent Software, Infrastructure), and End User (Hospitals, Diagnostic Imaging Centers) – Global Forecast to 2027 ”, published by Meticulous Research ® , the VNA & PACS market is expected to grow at a CAGR of 6.7% from 2020 to reach $4.89 billion by 2027.

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Medical image management solutions, including VNA & PACS, are used to aid diagnosis, compare images between patients or within the same patient at different time points to assess disease progression, and evaluate prognosis. PACS is a medical imaging technology used primarily in healthcare organizations to store and digitally transmit electronic images and clinically-relevant reports securely. Although PACS is widely adopted in healthcare, VNA technology is rapidly gaining traction. VNA and AICA platforms allow providers to manage and provide access to disparate types of unstructured content among multiple departments, across the entire integrated delivery network, and between affiliated providers in the community.

COVID-19 Impact on the VNA & PACS Market

The COVID-19 pandemic has positively impacted the global VNA and PACS market. It has been reported that the demand for medical imaging solutions has reported robust growth because computed tomography scans are crucial for treating and monitoring COVID-19 positive patients. Also, studies have shown that COVID-19 infection can be diagnosed by chest computed tomography (CT) scans even before the first symptoms begin to show. But, it has also been observed that there has been a severe decline in demand for routine and electivemedical imaging solutions because many hospitals had to free up capacity and resources for potential COVID-19 emergencies.

The ultrasound and MRI market declined moderately in the fiscal year 2020 due to the low number of ultrasound procedures performed globally. Still, the significantly increased interest in equipment and software used to diagnose and monitor COVID-19 has balanced out the losses the companies have faced due to the decline in demand for their routine and elective medical imaging solutions. During the COVID-19 pandemic, to assist hospitals in treating, scanning, and monitoring various medical imaging software and solutions were launched to generate fast easily accessible patient images. Some of the recently launched software includes-

• In November 2020, INFINITT launched INFINITT PACS 7.0, with AI and improved performance radiology, mammography, cardiology, pathology oncology, ophthalmology, and dental imaging applications.
• In April 2020, Hyland Healthcare launched PACS gear Enterprise that supports multiple servers and offered a single platform for all enterprise imaging capture activities ensuring clinicians can quickly capture point-of-care images from anywhere.

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Key Findings in the VNA and PACS Market Study-

The VNA & PACS market is mainly segmented by procurement, delivery, vendors, end user, and geography. The study also evaluates industry competitors and analyzes the market at the regional and country level.

Based on procurement, the enterprise PACS segment is estimated to grow at the highest CAGR during the forecast period due to the rising demand for patient-centric, single, sophisticated systems, such as enterprise PACS.

Based on vendor, the PACS vendors segment commanded the largest share of the overall VNA market in 2020. This segment’s large share is attributed to various traditional PACS companies, medical imaging modalities, and medical IT companies, offering VNA as an extension to their imaging portfolio.

On the basis of end user, in 2020, the hospitals segment accounted for the largest share of the overall VNA and PACS market, owing to the growing number of hospital admissions, rising number of hospitals in developing countries, and growing demand for enterprise-wide image data management in hospitals.

Geographically, the APAC region is expected to grow at the highest CAGR during the forecast period due to rising investment in the healthcare sector; improving healthcare infrastructure; and increasing medical imaging devices, AI, and telehealth services.

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The report also includes an extensive assessment of the geographic analysis, product portfolio, and key strategic developments adopted by leading market participants in the industry from 2018–2021. The VNA & PACS market has witnessed several acquisitions; partnerships & agreements; new product launches; and approvals in recent years. For instance, in July 2020, Hyland Software, Inc. (U.S.) partnered with Life Image Inc. (U.S.) to improve interoperability within the healthcare ecosystem and provide physicians and other hospital staff with essential access to images from any device, anytime by combining Hyland’s NilRead enterprise and diagnostic viewer, with Life Image’s digital image exchange network.

The key players operating in the global VNA and PACS market are Novarad Corporation (U.S.), Koninklijke Philips N.V. (Netherlands), INFINITT Healthcare Co., Ltd. (South Korea), Siemens Healthineers AG (Germany), Hyland Software, Inc. (U.S.), Agfa-Gevaert Group (U.S.), GE Company (U.S.), Mach7 Technologies (U.S.), FUJIFILM Holdings Corporation (Japan), BridgeHead Software Ltd. (U.K.), IBM Corporation (U.S.), Sectra AB (Sweden), ASPYRA, LLC (U.S.), and Change Healthcare Inc. (U.S.), among others.

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Scope of the Report:

VNA & PACS Market, by Product

• Picture Archiving and Communication Systems (PACS)
  • PACS Market, by Procurement Model
    • Departmental PACS
      • Radiology PACS
      • Cardiology PACS
      • Other Departmental PACS
    • Enterprise PACS
  • PACS Market, by Delivery Model
    • On-premise Models
    • Web/Cloud-based Models
• Vendor Neutral Archives (VNA)
  • VNA Market, by Type
    • On-premise
    • Hybrid VNA
    • Web/Cloud-based VNA
  • VNA Market, by Procurement Model
    • Departmental VNA
      • Multi-departmental VNA
      • Multi-site VNA
  • VNA Market, by Vendor Type
    • PACS Vendors
    • Independent Software Vendors
    • Infrastructure/Storage Vendors

VNA & PACS Market, by End User

• Hospitals
• Diagnostic Imaging Centers
• Others

VNA & PACS Market, by Geography

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Rest of Europe (RoE)
• Asia-Pacific (APAC)
  • Japan
  • China
  • India
  • Rest of APAC (RoAPAC)
• Latin America
• Middle East & Africa

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Amidst this crisis, Meticulous Research® is continuously assessing the impact of the COVID-19 pandemic on various sub-markets and enables global organizations to strategize for the post-COVID-19 world and sustain their growth. Let us know if you would like to assess the impact of COVID-19 on any industry here- https://www.meticulousresearch.com/custom-research

Related Reports:

Medical Image Management Market by Product {PACS [Departmental (Radiology, Mammography, Cardiology), Enterprise], VNA [(On-premise, Hybrid), [Vendor (PACS, Independent Software, Infrastructure)], AICA, Universal Viewer} and End User – Global Forecast to 2027

https://www.meticulousresearch.com/product/medical-image-management-market-4761

Healthcare IT Market by Product (EMR, mHealth, PHM, RIS, PACS, RCM, Healthcare Analytics, Telehealth, SCM, HIE), Component (Software, Service), Delivery Mode (Web, Cloud) and End User (Hospital, Payer, Pharmacy, Ambulatory, Homecare) – Global Forecast to 2027

https://www.meticulousresearch.com/product/healthcare-it-market-5084/

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