Picture Archive and Communication System (PACS) Segment has the Largest Share of Product in the Asia Pacific PACS and RIS Market during 2019-2027
According to this research study titled “Asia Pacific PACS and RIS Market to 2027 - COVID-19 Impact and Regional Analysis and Forecast by Product, Component, Deployment, and End User,” the market is expected to reach US$ 1,328.9 million by 2027 from US$ 658.1 million in 2019. The market is estimated to grow at a CAGR of 9.1% from 2020 to 2027. The report provides trends prevailing in the Asia Pacific PACS and RIS market along with the drivers and restraints pertaining to the market growth. The growth of this market is estimated to grow owing to key driving factors such as the developments in diagnostic imaging modalities coupled with rising number of diagnostic test procedures and the affordable price of new generation PACS software. However, the market is expected experiencing slow growth during the forecast period owing to the availability of better substitutes and concerns regarding data privacy.
The COVID-19 outbreak has severely affected the tourism industry and imposed supply chain disruptions; moreover, low-income countries face additional challenges due to the shortage of healthcare infrastructure. Restrictive measures have been put forth in South Korea, Malaysia, Singapore, the Philippines, and India to prevent disease transmission. In China, radiological imaging systems such as computed tomography played critical role in COVID-19 detection. Computed tomography medical imaging is used in detecting the abnormalities in the patients’ lungs. In the images of many early novel coronavirus (COVID-19) patients have single or multiple small patchy ground-glass opacities and interlobular septal thickening in lungs. The Chinese health authorities soon recognized the gap and changed the diagnostic strategy in their 5th edition of the Guidelines on Diagnosis and Treatment of COVID-19. Radiological features of COVID-19 were included as one of the three determinant clinical manifestations to confirm a suspicious patient. This has resulted in increased demand for PACS and RIS systems for early detection of coronavirus infection which in turn contributed to the market growth.
The market for PACS and RIS market is segmented into product, component, deployment, and end user. Based on product, the market is segmented into Picture Archive and Communication System (PACS) and Radiology Information System (RIS). In 2019, the picture archive and communication system (PACS) segment accounted for the largest share of the PACS and RIS market by product. The growth of the market for this segment is attributed to the as the solution offers benefits such as improved viewing and analysis, easy access to images and other reports, efficient data management, and a user-friendly interface. A growing number of product introductions and approvals are estimated to offer a lucrative opportunity for market growth. Moreover, the market for the picture archive and communication system (PACS) segment is estimated to grow at the highest CAGR during the forecast period.
Agfa-Gevaert Group, INFINITT Healthcare Co., Ltd., Cerner Corporation, General Electric Company, Koninklijke Philips N.V., FUJIFILM Holdings Corporation, Siemens AG, and IBM are among the leading companies in the Asia Pacific PACS and RIS market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in April 2020, Phillips launched Series 4000i, a new air purifier for domestic and commercial application. The new air purifier is powered by smart connected technology and used 3-layer filter for purifying air.
The report segments the Asia Pacific PACS and RIS market as follows:
By Product
By Component
By Deployment
By End User
By Country
The COVID-19 outbreak has severely affected the tourism industry and imposed supply chain disruptions; moreover, low-income countries face additional challenges due to the shortage of healthcare infrastructure. Restrictive measures have been put forth in South Korea, Malaysia, Singapore, the Philippines, and India to prevent disease transmission. In China, radiological imaging systems such as computed tomography played critical role in COVID-19 detection. Computed tomography medical imaging is used in detecting the abnormalities in the patients’ lungs. In the images of many early novel coronavirus (COVID-19) patients have single or multiple small patchy ground-glass opacities and interlobular septal thickening in lungs. The Chinese health authorities soon recognized the gap and changed the diagnostic strategy in their 5th edition of the Guidelines on Diagnosis and Treatment of COVID-19. Radiological features of COVID-19 were included as one of the three determinant clinical manifestations to confirm a suspicious patient. This has resulted in increased demand for PACS and RIS systems for early detection of coronavirus infection which in turn contributed to the market growth.
The market for PACS and RIS market is segmented into product, component, deployment, and end user. Based on product, the market is segmented into Picture Archive and Communication System (PACS) and Radiology Information System (RIS). In 2019, the picture archive and communication system (PACS) segment accounted for the largest share of the PACS and RIS market by product. The growth of the market for this segment is attributed to the as the solution offers benefits such as improved viewing and analysis, easy access to images and other reports, efficient data management, and a user-friendly interface. A growing number of product introductions and approvals are estimated to offer a lucrative opportunity for market growth. Moreover, the market for the picture archive and communication system (PACS) segment is estimated to grow at the highest CAGR during the forecast period.
Agfa-Gevaert Group, INFINITT Healthcare Co., Ltd., Cerner Corporation, General Electric Company, Koninklijke Philips N.V., FUJIFILM Holdings Corporation, Siemens AG, and IBM are among the leading companies in the Asia Pacific PACS and RIS market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in April 2020, Phillips launched Series 4000i, a new air purifier for domestic and commercial application. The new air purifier is powered by smart connected technology and used 3-layer filter for purifying air.
The report segments the Asia Pacific PACS and RIS market as follows:
By Product
- Picture Archiving And Communication System (PACS)
- Radiology Information System (RIS)
By Component
- Hardware
- Software
- Services
By Deployment
- Web-Based
- On-Premise
- Cloud-Based
By End User
- Hospitals
- Diagnostic Centers
- Others
By Country
- Asia Pacific - China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
Table of Contents
1. Introduction
3. Research Methodology
4. Asia Pacific PACS and RIS Market - Market Landscape
5. Asia Pacific PACS and RIS Market - Key Market Dynamics
6. PACS and RIS Market - Asia Pacific Analysis
7. Asia Pacific PACS and RIS Market Analysis and Forecasts To 2027 - By Product
8. Asia Pacific PACS and RIS Market Analysis and Forecasts To 2027 - By Component
9. Asia Pacific PACS and RIS Market Analysis and Forecasts To 2027 - By Deployment
10. Asia Pacific PACS and RIS Market Analysis and Forecasts to 2027- By End User
11. PACS and RIS Market Revenue and Forecasts to 2027 - Geographical Analysis
12. Impact Of COVID-19 Pandemic on Asia Pacific PACS and RIS Market
13. Industry Landscape
14. Company Profiles
15. Appendix
List of Tables
List of Figures
Companies Mentioned
- Agfa-Gevaert Group
- INFINITT Healthcare Co., Ltd.
- Cerner Corporation
- General Electric Company
- Koninklijke Philips N.V.
- FUJIFILM Holdings Corporation
- Siemens AG
- IBM
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 137 |
| Published | May 2021 |
| Forecast Period | 2019 - 2027 |
| Estimated Market Value ( USD | $ 658.1 Million |
| Forecasted Market Value ( USD | $ 1328.9 Million |
| Compound Annual Growth Rate | 9.2% |
| Regions Covered | Asia Pacific |
| No. of Companies Mentioned | 8 |
