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PACS and RIS Market Is Estimated To Witness High Growth Owing To Increasing Adoption of Cloud-Based Systems

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Anjali CMI
PACS and RIS Market Is Estimated To Witness High Growth Owing To Increasing Adoption of Cloud-Based Systems

The global PACS and RIS market is estimated to be valued at US$ 3,657 Mn in 2022 and is expected to exhibit a CAGR of 6.8% over the forecast period of 2023-2030, as highlighted in a new report published by Coherent Market Insights.

A) Market Overview:

Picture Archiving and Communication Systems (PACS) and Radiology Information Systems (RIS) are healthcare technologies that are widely used to manage medical imaging and patient information. PACS enable the storage, retrieval, management, and distribution of medical images, while RIS manage administrative and operational functions within radiology departments. These systems play a crucial role in improving efficiency, productivity, and patient care in healthcare facilities.

B) Market Key Trends:

One key trend driving the PACS and RIS market is the increasing adoption of cloud-based systems. Cloud-based PACS and RIS offer several advantages compared to traditional on-premises systems. They provide remote access to medical images and patient data, allowing healthcare professionals to access and share information from any location. Moreover, cloud-based systems offer scalability, cost-effectiveness, and enhanced security. For example, Agfa Healthcare offers its XERO Viewer through the cloud, enabling clinicians to view medical images from any web-enabled device.

C) PEST Analysis:

- Political: Governments worldwide are focusing on the digitization of healthcare records, which is driving the adoption of PACS and RIS systems.

- Economic: Investments in healthcare infrastructure, especially in emerging economies, are contributing to the growth of the market.

- Social: Increasing geriatric population and the prevalence of chronic diseases are creating a higher demand for medical imaging services.

- Technological: Advancements in imaging technologies, such as 3D and 4D imaging, are fueling the demand for PACS and RIS solutions.

D) Key Takeaways:

- The global PACS and RIS Market Size is expected to witness high growth, exhibiting a CAGR of 6.8% over the forecast period. This growth is driven by factors such as increasing adoption of cloud-based systems.

- North America is the fastest-growing and dominating region in the PACS and RIS market, attributed to the presence of key market players, advanced healthcare infrastructure, and government initiatives.

- Key players operating in the global PACS and RIS market include Philips Healthcare, Cerner Corporation, Agfa Healthcare, Fujifilm Holdings Corporation, Allscripts Healthcare Solutions Inc., Sectra, Epic Systems Corporation, General Electric Company, Siemens AG, McKesson Corporation, Wellbeing Software, Merge Healthcare Incorporated, Medinformatix Inc., eRAD, Inc., and RamSoft Inc.

In conclusion, the PACS and RIS market is witnessing high growth due to the increasing adoption of cloud-based systems. These technologies play a crucial role in managing medical imaging and patient information, improving efficiency and patient care. North America dominates the market, driven by key players and advanced healthcare infrastructure. The future of the PACS and RIS market looks promising, fueled by technological advancements and government initiatives towards digitization in healthcare.

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