Healthcare Cloud Picture Archiving & Communications System Market Size Is Predicted To Reach $1.06 Billion By 2027

The global healthcare cloud picture archiving & communications system market size is expected to reach USD 1.06 billion by 2027, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 8.1% from 2020 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.

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Healthcare Cloud Picture Archiving & Communications System Market Report Highlights

• The cardiology application segment is expected to expand at a lucrative growth rate of 7.3% over the forecast period owing to the rising prevalence of cardiac disorders and associated mortality
• The hospital end-use segment dominated the market with a revenue share of 38.3% in 2019. This is because of the ability of PACS to deliver a comprehensive suite of clinical tools that have increased the workflow efficiency
• North America dominated the market as of 2019 with a revenue share of 40.4%. This can be attributed to the presence of established players, coupled with technologically advanced infrastructure
• Asia Pacific is anticipated to witness prominent growth over the forecast period owing to the high potential and rapidly growing markets of India, Japan, and China in this region
• Industry players are involved in strategies, including mergers & acquisitions, collaborative agreements, geographic expansion, and product launches, to gain a competitive edge. For instance, in April 2020, Konica Minolta Healthcare Americas launched a new medical image management solution for specialty clinics called Rede PACS and Rede Mini PACS. This enhanced the company’s portfolio

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Healthcare Cloud Picture Archiving & Communications System Market Segmentation

Grand View Research has segmented the global healthcare cloud PACS market on the basis of application, end-use, and region:

Healthcare Cloud PACS Application Outlook (Revenue, USD Million, 2016 - 2027)

• Cardiology
• Orthopedics
• Ophthalmology
• Oncology
• Veterinary Medicine
• Others

Healthcare Cloud PACS End-use Outlook (Revenue, USD Million, 2016 - 2027)

• Hospitals
• Diagnostic Centers
• Others

Healthcare Cloud PACS Regional Outlook (Revenue, USD Million, 2016 - 2027)

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Russia
• Asia Pacific
• Japan
• China
• India
• Australia
• South Korea
• Latin America
• Brazil
• Mexico
• Argentina
• Middle East and Africa (MEA)
• South Africa
• Saudi Arabia
• UAE

List of Key Players of Healthcare Cloud Picture Archiving & Communications System Market

• 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

About Grand View Research        

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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