Vendor-Neutral Archive (VNA) & Picture Archiving And Communication System (PACS) Market Size 2024 And Growth Rate

The vendor-neutral archive (vna) & picture archiving and communication system (pacs) market size has grown strongly in recent years. It will grow from $3.92 billion in 2023 to $4.19 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to increasing volume of medical imaging data, government initiatives for healthcare it adoption, demand for streamlined workflows in healthcare, growing emphasis on interoperability, need for long-term data archiving, rise in diagnostic imaging procedures..

Vendor-Neutral Archive (VNA) & Picture Archiving And Communication System (PACS) Market Growth Forecast

The vendor-neutral archive (vna) & picture archiving and communication system (pacs) market size is expected to see strong growth in the next few years. It will grow to $5.36 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to continued growth in medical imaging data, global push for healthcare data interoperability, increased emphasis on data security, telemedicine and remote diagnostics trends, integration with advanced analytics, focus on patient-centric healthcare, government support for healthcare it infrastructure.. Major trends in the forecast period include adoption of cloud-based vendor-neutral archives, emphasis on interoperability and standardization, integration of artificial intelligence for image analysis, rise in mobile access and teleradiology solutions, implementation of vendor-neutral image sharing networks..

Vendor-Neutral Archive (VNA) & Picture Archiving And Communication System (PACS) Market Driver: Growing Adoption of Electronic Health Records (EHRs) Fuels Expansion Of Vendor-Neutral Archive (VNA) & Picture Archiving And Communication System (PACS) Market

Growing adoption of electronic health records (EHRs) is expected to propel the growth of the vendor-neutral archive (VNA) and picture archiving and communication system (PACS) market going forward. Electronic health records (EHRs) refer to digital versions of a patient's paper medical records. They encompass a patient's complete health profile, encompassing medical history, diagnoses, medications, treatment strategies, vaccination records, and other pertinent health data. Growing adoption of electronic health records (EHRs) enhances the importance of VNAs and PACS in healthcare by promoting data integration, interoperability, and efficient workflows. These systems play a pivotal role in managing, storing, and providing access to diagnostic imaging data, ensuring that healthcare providers have the necessary tools to deliver high-quality care while protecting patient privacy and security. For instance, in June 2023, according to reports published by the Munich American Reassurance Company, a US-based firm that operates as a reinsurance operation, there were 23% of electronic health records (EHRs) adopted in 2020, and it has increased to 61% in 2022. Therefore, the growing adoption of electronic health records (EHRs) is expected to drive the vendor-neutral archive (VNA) & picture archiving and communication system (PACS) market.

Vendor-Neutral Archive (VNA) & Picture Archiving And Communication System (PACS) Market Driver: Rising Infectious Disease Incidence Drives Surge In Vendor-Neutral Archive (VNA) & PACS Market

The increasing prevalence of infectious diseases is expected to propel the growth of the vendor-neutral archive (VNA) and PACS market going forward. Infectious diseases are illnesses caused by pathogenic microorganisms, such as bacteria, viruses, parasites, or fungi, that enter the body, multiply, and can cause an infection. Vendor-Neutral Archive (VNA) and PACS play a crucial role in infectious diseases by providing efficient storage, retrieval, and management of medical imaging data, facilitating timely and accurate diagnostics, monitoring, and treatment planning for patients affected by infectious conditions. For instance, in March 2023, according to the National Center for Biotechnology Information, a US-based National Institutes of Health, in 2022, 8,300 tuberculosis cases were reported in the United States, compared with 7,874 in 2021. TB incidence during 2022 increased slightly to 2.5 per 100,000 persons, compared with 2.4 during 2021. Therefore, the increasing prevalence of infectious diseases is driving the growth of the vendor-neutral archive (VNA) and PACS market.

Global Vendor-Neutral Archive (VNA) & Picture Archiving And Communication System (PACS) Market Major Players

Major companies operating in the vendor-neutral archive (vna) & picture archiving and communication system (pacs) market report are McKesson Corporation, Dell Technologies Inc., Siemens AG, General Electric , International Business Machines Corporation (IBM), Hitachi Ltd, FUJIFILM Holdings Corporation, Koninklijke Philips NV, GE Healthcare, Cerner Corporation, Change Healthcare, Lexmark International Inc., Agfa-Gevaert Group , Carestream Health, Hyland Software Inc., Acuo Technologies, Merge Health, Sectra AB, Novarad Corporation, INFINITT Healthcare Co. Ltd., Visage Imaging Inc., Birdgehead Software, ScImage Inc., Agfa Healthcare NV, Mach 7 Technologies Ltd., ASPYRA LLC, TeraMedica Inc., Dejarnette Research Systems Inc., Dicom Systems Inc., InsiteOne Inc.

Global Vendor-Neutral Archive (VNA) & Picture Archiving And Communication System (PACS) Market Restraint: Rising Account Of Data Breaches Impact The Market Growth

The rising account of data breaches is expected to hamper the growth of the vendor-neutral archive (VNA) and picture archiving and communication system (PACS) market. A data breach is the unauthorized access, disclosure, or acquisition of sensitive information, often involving personal or confidential data, by individuals or entities not authorized to possess such data. Data breaches compromise patient confidentiality and erode trust in these systems, leading to a reluctance among healthcare providers to invest in and implement VNA and PACS solutions. For instance, according to 2023 report on data breach by IBM, an American multinational technology corporation, 83% of organizations experienced more than one data breach during 2022. Therefore, the rising account of data breaches is expected to impact the growth of the vendor-neutral archive (VNA) and picture archiving and communication system (PACS) market.

Global Vendor-Neutral Archive (VNA) & Picture Archiving And Communication System (PACS) Market Trend: AI Transforming The Vendor-Neutral Archive (VNA) & PACS Market

Major companies operating in the vendor-neutral archive (VNA) and picture archiving and communication system (PACS) market are leveraging innovative technologies, such as the artificial intelligence (AI), to help radiologists improve their productivity and accuracy and make PACS more accessible and affordable. AI aims to optimize medical image analysis, streamline workflow efficiency, and improve diagnostic capabilities within their VNA and PACS solutions. For instance, in August 2021, GE HealthCare Technologies Inc., a US-based manufacturing company, launched Edison True PACS, a cloud-based PACS system with seamless integration and remote accessibility via the internet. Edison True PACS integrates AI into its workflow to help radiologists improve their productivity and accuracy. This innovation offers a cost-effective solution suitable for healthcare entities of varying scales. Radiologists benefit from the adaptable design, allowing them to customize workflows to their precise requirements. Additionally, it incorporates a web-based diagnostic viewer and a zero-footprint clinical viewer, facilitating remote reading. The system is equipped with advanced image processing and visualization tools, enabling the seamless integration of third-party AI algorithms from the Edison platform into workflows, eliminating the need for extra clicks.

Vendor-Neutral Archive (VNA) & Picture Archiving And Communication System (PACS) Market Merger And Acquisition: Intelerad Expands Its Imaging Solutions Portfolio With Acquisition Of Insignia Medical Systems

In September 2021, Intelerad Medical Systems Incorporated, a Canada-based medical system imaging management company, acquired Insignia Medical Systems Ltd. for an undisclosed amount. Through this acquisition, Intelera aims to expand its next-generation imaging solutions and resources to modernize hospital trusts across the UK and strengthen its customer support capabilities. Insignia Medical Systems Ltd. is a UK-based developer of medical imaging technology that offers a picture archiving and communication system (PACS) and vendor-neutral archive (VNA) services.

Regional Outlook For The Global Vendor-Neutral Archive (VNA) & Picture Archiving And Communication System (PACS) Market

North America was the largest region in the vendor-neutral archive (VNA) & picture archiving and communication system (PACS) market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the vendor-neutral archive (vna) & picture archiving and communication system (pacs) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the vendor-neutral archive (VNA) & picture archiving and communication system (PACS) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The vendor-neutral archive (VNA) & PACS market consists of revenues earned by entities by providing vendor-neutral archive (VNA) & PACS services such as image acquisition, image storage, workflow optimization, integration with EHRs, remote access, security and privacy, and reporting services. The market value includes the value of related goods sold by the service provider or included within the service offering. The vendor-neutral archive (VNA) & PACS market also includes sales of data migration tools, reporting tools, image acquisition devices, and diagnostic tools that are used in providing vendor-neutral archive (VNA) & PACS services. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The vendor-neutral archive (VNA) & picture archiving and communication system (PACS) market research report is one of a series of new reports from The Business Research Company that provides vendor-neutral archive (VNA) & picture archiving and communication system (PACS) market statistics, including vendor-neutral archive (VNA) & picture archiving and communication system (PACS) industry global market size, regional shares, competitors with a vendor-neutral archive (VNA) & picture archiving and communication system (PACS) market share, detailed vendor-neutral archive (VNA) & picture archiving and communication system (PACS) market segments, market trends and opportunities, and any further data you may need to thrive in the vendor-neutral archive (VNA) & picture archiving and communication system (PACS) industry. This