Healthcare Cloud Picture Archiving & Communications System Market By Application (Cardiology, Oncology), By End-use (Hospitals, Diagnostic Centers)- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2021-2027
The global Healthcare Cloud Picture Archiving & Communications System market gathered revenue around USD 430.1 Million in 2020 and market is set to grow USD 1.02 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 8.9% during the prediction period 2021 to 2027.
The increased patient data storage capacity of cloud-based PACS (picture archiving & communications system) due to ample storage space is the key contributor to the market growth.
COVID-19 has put PACS into the spotlight owing to the rising need for faster, easily accessible patient images and medical records, especially from CT and MRI. Cloud PACS on account of data resiliency, seamless scalability, cost efficiency, and real-time backup had an upper hand over on-premise PACS solutions enabling faster adoption even by mid-size facilities. This adoption trend is anticipated to continue in the near future, thereby providing a lucrative growth platform to the market in the coming few years.
The increasing prevalence of chronic diseases, such as cancer, cardiac disorders, and bone-related disorders, has fueled the demand for medical imaging for early diagnosis. These medical images obtained from technologically advanced devices are made up of large file sizes leading to overloading of data in the system. This overloading also slows down the system. Thus, to reduce such issues, healthcare organizations have increased the adoption of cloud-based PACS, thereby driving the market.
Cloud PACS enables healthcare professionals to access patients' images directly from the cloud. This easy access has enhanced flexibility and efficiency leading to faster diagnosis and disease detection. Physicians and clinicians can review and analyze the stored images of the patients and transmit the related information by collaborating with the clinical staff. These associated benefits are further anticipated to expand the consumer base for the market in the near future.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Healthcare Cloud Picture Archiving & Communications System market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Healthcare Cloud Picture Archiving & Communications System market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
|Market Size||USD 1.02 Billion by 2027|
|Growth Rate||CAGR of 8.9% From 2021 to 2027|
|Forecast Period||2021 to 2027|
|Historic Data||2017 to 2020|
|Report coverage||Growth Factors, Revenue Status, Competitive Landscape, and Future Trends|
|Segments Covered||Application, end-use And Region
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)|
|Companies Mentioned||Konica Minolta Healthcare Americas, Inc.; Ambra Health; Koninklijke Philips N.V.; UltraLinq; VEPRO AG; Telemis S.A.; RamSoft, Inc.; INFINITT North America Inc.; Core Sound Imaging, Inc.; QUICKPACS; PostDICOM|
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Healthcare Cloud Picture Archiving & Communications System market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
North America dominated the market with a share of 40.4% in 2020. The market growth can be attributed to various factors such as the presence of key players in the region and high investment in healthcare expenditure. Besides, technological advancements and high disposable income are some of the factors expected to fuel market growth over the forecast period.
The market in Asia Pacific is predicted to expand at the fastest CAGR of 9.6% over the forecast period due to the constant upgradation of the healthcare infrastructure. Moreover, the rising adoption of PACS in healthcare facilities, coupled with the rapid expansion of manufacturing facilities in emerging countries, such as China and India, is further propelling the market growth.
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
- Company Overview
- Company Market Share/Positioning Analysis
- Product Offerings
- Financial Performance
- Recent Initiatives
- Key Strategies Adopted by Players
- Vendor Landscape
- List of Suppliers
- List of Buyers
Some of the prominent players in the Healthcare Cloud Picture Archiving & Communications System Market include: Konica Minolta Healthcare Americas, Inc.; Ambra Health; Koninklijke Philips N.V.; UltraLinq; VEPRO AG; Telemis S.A.; RamSoft, Inc.; INFINITT North America Inc.; Core Sound Imaging, Inc.; QUICKPACS; PostDICOM
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2027 and covers subsequent region in its scope:
- By Application
- Veterinary Medicine
- By End-use
- Diagnostic Centers
- United Kingdom
- Rest of Europe
- Southeast Asia
- Rest of Asia Pacific
- Rest of Latin America
Middle East & Africa (MEA)
- North Africa
- South Africa
- Rest of Middle East & Africa
Highlights of the Report:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the market.
- Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market
- Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market
In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Healthcare Cloud Picture Archiving & Communications System market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the Healthcare Cloud Picture Archiving & Communications System market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Healthcare Cloud Picture Archiving & Communications System markets more accurate and reliable.
It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
- Governmental bodies, and organizations creating economic policies
- National and international social welfare institutions
- Company websites, financial reports and SEC filings, broker and investor reports
- Related patent and regulatory databases
- Statistical databases and market reports
- Corporate Presentations, news, press release, and specification sheet of Manufacturers
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
- Means of primary research: Email interactions, telephonic discussions and Questionnaire based research etc.
- In order to validate our research findings and analysis we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.
Industry participants involved in this research study include:
- CEOs, VPs, market intelligence managers
- Procuring and national sales managers technical personnel, distributors and resellers
- Research analysts and key opinion leaders from various domains
Key Points Covered in Healthcare Cloud Picture Archiving & Communications System Market Study:
- Growth of Healthcare Cloud Picture Archiving & Communications System in 2021
- Market Estimates and Forecasts (2017-2027)
- Brand Share and Market Share Analysis
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Recommendation on Key Winning Strategies
- COVID-19 Impact on Demand for Healthcare Cloud Picture Archiving & Communications System and How to Navigate
- Key Product Innovations and Regulatory Climate
- Healthcare Cloud Picture Archiving & Communications System Consumption Analysis
- Healthcare Cloud Picture Archiving & Communications System Production Analysis
- Healthcare Cloud Picture Archiving & Communications System and Management