PACS and RIS Market To Witness Substantial Growth Due To Growing Popularity of PACS around the World

 

Overview:

A PACS system is a database of medical images and other medical information. It is generally stored in an RIS, though radiologists may choose to view the results directly in PACS. Cloud PACS solutions, however, allow radiologists to access even more information. Moreover, many providers boast of being able to integrate PACS with RIS. However, they are unable to quantify the integration time. RIS and PACS solutions are designed to facilitate interoperability among imaging devices. This is done by creating a standardized communication interface based on DICOM standards. The RIS acts as a master system that provides image management and move control functions. 

Market Dynamics:

The popularity of PACS is growing all over the world and this is anticipated to propel growth of the global PACS and RIS market over the forecast period. PACS help to reduce the physical as well as time barriers linked to regular film-based retrieval, display and distribution of images. For instance, in August 2021, PaxeraHealth, developer of PACS/RIS announced to launch its novel product called PaxexaUltima 8^th Generation, which is an AI-based imaging platform that provides AI algorithms for analyzing large data sets.

However, risk of cyber-attacks leading to growing concerns about safety of data in healthcare is likely to obstruct growth of the global PACS and RIS market over the forecast period.

Impact of COVID-19:

The coronavirus outbreak in China affected several industries around the world. Due to the virus outbreak many countries announced nationwide lockdowns. Several market activities including manufacturing, supply of raw materials and distribution activities were disrupted throughout this period. The demand for various products declined during the pandemic which adversely affected growth of several markets including the one in discussion. However, as many countries are lifting lockdown regulations, the market is likely to regain growth.

Key Takeaways:

·         The global PACS and RIS market is expected to grow with a CAGR of 6.8% over the forecast period due to growing number of health care facilities along with products of high value such as orthopedic PACS, cardiology PACS, and more. For instance, in July 2022, The Royal Orthopedic Hospital NHS Foundation Trust announced to deploy a novel cloud-based PACS to offer radiologist intelligent productivity tools.

·         North America is anticipated to witness substantial growth in the global PACS and RIS market over the forecast period. This is due to growing demand for health care and increasing government initiatives for R&D across the region.

·         Major players active in the global PACS and RIS market are Novarad, GENERAL ELECTRIC COMPANY, Cerner Corporation, Koninklijke Philips N.V., ScImage, Inc., FUJIFILM Holdings, PACSHealth, LLC, McKesson Corporation, IBM, Siemens Healthcare Private Limited, INFINITT North America Inc., Agfa-Gevaert Group, Avreo, and Allscripts Healthcare, LLC.