Picture archiving and communication systems (PACS) and radiology information systems (RIS) allow healthcare providers to digitally store, manage, distribute and display medical images effectively. PACS and RIS help practitioners centralize medical imaging data and track related workflow details to enhance collaboration and timely treatment. The solutions enable sharing of images and reports with other medical facilities anytime and from anywhere via cloud hosting. This eliminates the need to maintain physical servers and storage hardware at each site, reducing infrastructure costs significantly.

The global PACS and RIS market is estimated to be valued at US$ 3657 Mn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the key trends fueling the growth in the PACS and RIS market is the rising adoption of cloud-based services. Cloud deployment helps healthcare providers to gain access to images and reports from anywhere using internet-enabled devices like laptops and smartphones. It enables collaboration between doctors located across different locations for faster diagnosis and treatment. Cloud hosting is a cost-effective alternative to on-premise systems as it eliminates expenses related to hardware maintenance, upgrades and IT staff. Many players are focusing on developing secure cloud platforms to address data security concerns and accelerate cloud migration in the healthcare industry. This is expected to drive significant demand for PACS and RIS in the coming years.

Segment Analysis
The global PACS and RIS market is segmented based on components, imaging modalities, deployment mode and end-users. Based on components, the services segment dominates the market owing to increasing adoption of cloud services and mobile-based medical image sharing by healthcare organizations to improve efficiency. The services segment provides installation, maintenance and support for PACS and RIS software and systems.

Key Takeaways

Global PACS And RIS Market Demand is expected to witness high growth over the forecast period of 2023-2030. The market is projected to reach a value of US$ 6257 Mn by 2030, expanding at a CAGR of 6.7% from 2023 to 2030.

Regional analysis
North America dominates the global PACS and RIS market and is expected to continue its dominance over the forecast period. High healthcare infrastructure and expenditure along with presence of major players in the region drives the market growth. Asia Pacific is expected to witness fastest growth over the forecast period due to growing medical tourism, improving healthcare infrastructure and rising medical imaging procedures in the region.

Key players
The global PACS and RIS market is consolidated in nature with key players accounting for major share. Daihen Corporation, Yaskawa Motoman Robotics and Denso Corporation are among the leading players operating in the market. Daihen Corporation offers a wide range of PACS and RIS solutions catering to radiology departments across hospitals and diagnostic centers. Yaskawa Motoman Robotics provides robotics automation solutions for medical imaging. Denso Corporation offers Picture Archiving and Communication Systems (PACS) for medical imaging storage and sharing solutions. The other prominent players include Universal Robots, Epson America, Inc., Panasonic Corporation and Nachi Robotic Systems, Inc.

Get More Insights on this Topic- https://www.marketwebjournal.com/pacs-and-ris-market-demand-forecast-and-outlook/