PACS and RIS Market Report 2024 (Global Edition)

Global PACS and RIS Market Report 2024 Market Size Split by Product Outlook: (PACS, RIS), by Component Outlook: (Hardware, Software, Services), by Mode of Delivery Outlook: (On-Premise, Cloud-based, W...

PACS and RIS Market Report Description

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Competitive Landscape of the PACS and RIS Market

In the PACS and RIS market's competitive landscape, numerous key competitors are driving innovation and growth. Market rivalry is encouraging technological and design innovations to create PACS and RISs that fulfil both consumers' wants and sustainability goals, keeping the market dynamic and competitive.

In August 2021, In response to the radiology workforce shortage and the increasing demand for imaging services, GE Healthcare introduced Edison True PACS, a cloud-based diagnostic imaging and workflow solution that is AI-enabled. This innovative system reduces IT and capital burdens while improving the efficiency, diagnostic accuracy, and remote reading capabilities of radiologists. Edison True PACS, which was initially available in the United States, is particularly advantageous for small imaging centres and community hospitals. It supports teleradiology and integrates seamlessly with AI tools to enhance clinical and operational efficiencies. (Source: https://www.gehealthcare.com/about/newsroom/press-releases/ge-healthcare-brings-radiology-without-walls-to-resource-constrained-small-imaging?npclid=botnpclid&srsltid=AfmBOor4MziikI3qPhJFFUyIK4qJUIVoi6tSrPeg97_kenDefNL2r6SA) In October 2024, GE HealthCare announced the integration of AI-enabled application orchestration into its True PACS and Centricity PACS in collaboration with Blackford. This feature is designed to assist radiologists in managing increased workloads and complex exams by granting them access to a diverse array of third-party AI applications, thereby improving diagnostic accuracy and efficiency. The initiative is a component of GE HealthCare's overarching strategy to optimize clinician workflows and leverage AI for precision care. This is particularly critical in light of the high rates of burnout among radiologists. (Source: https://www.gehealthcare.com/about/newsroom/press-releases/ge-healthcare-accelerates-artificial-intelligence-adoption-with-new-offering-to-advance-enterprise-imaging?npclid=botnpclid&srsltid=AfmBOoocq4sStlIKpWJPvuDN3QXT9DzFfB7zYQxkjX9-mquzBUxYjIoo) In October 2024, McKesson Corporation has established InspiroGene, a new business that is exclusively focused on the commercialization of cell and gene therapies (CGTs). In order to assist CGT manufacturers, payers, and providers, InspiroGene offers a variety of services, such as specialty distribution, third-party logistics, and biologics specialty pharmacy solutions. InspiroGene is committed to assisting patients in navigating the intricate CGT landscape, ensuring that they have access to life-changing treatments, with the assistance of an experienced leadership team. McKesson's dedication to improving health outcomes and transforming patient care is evident in the launch. (Source: https://www.mckesson.com/about-mckesson/newsroom/press-releases/2024/mckesson-launches-inspirogene-a-dedicated-business-to-guide-and-support-the-commercialization-of-cell-and-gene-therapies/)

Top Companies Market Share in PACS and RIS Industry: (In no particular order of Rank)

• 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.
• RamSoft Inc.
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

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Regional Analysis of the PACS and RIS Market

Which Region Dominates the PACS and RIS Market in 2024?

According to Cognitive Market Research, North America currently dominates the PACS and RISs market, and the region is expected to have significant growth during the projected period. The North American PACS and RIS market is experiencing growth due to the widespread adoption of healthcare IT products, technological advancements, and increased healthcare spending. The market is further fueled by the urgent necessity for efficient data management and the presence of key market players.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific is expected to make significant gains during the projected period, with the greatest compound annual growth rate (CAGR). The Asia Pacific PACS and RIS market are being driven by the proliferation of private clinics and diagnostic centres, substantial government investments in healthcare infrastructure, and the increasing adoption of healthcare IT. The market's expansion is also influenced by the region's rapidly expanding population and emerging economies.

The current report Scope analyzes PACS and RIS Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America PACS and RIS

According to Cognitive Market Research, the global PACS and RIS market size was estimated at USD 4125.2 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 1650.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.0% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the PACS and RIS market with a market size of USD 1301.91 million in 2024 and is anticipated to grow at a CAGR of 5.8% during the projected period. The U.S. market's Significant investments in medical technology and the implementation of advanced healthcare IT solutions.
• The Canada PACS and RIS market had a market share of USD 198.01 million in 2024 and is anticipated to grow at a CAGR of 6.8% during the projected period. Canada prioritizes the integration of digital health solutions and the enhancement of healthcare infrastructure.
• The Mexico PACS and RIS market is anticipated to see growth at a CAGR of 6.5% during the projected period, with a market size of USD 150.16 million in 2024.

Europe PACS and RIS

According to Cognitive Market Research, the global PACS and RIS market size was estimated at USD 4125.2 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 1237.56 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.3% from 2024 to 2031.

• The United Kingdom PACS and RIS market had a market share of USD 207.91 million in 2024 and is anticipated to grow at a CAGR of 7.1% during the projected period. In the UK, PACS and RIS sales see an upswing due to the increasing Government initiatives that encourage the development of advanced medical imaging technologies and healthcare innovation.
• The France PACS and RIS market is anticipated to see growth at a CAGR of 5.5% during the projected period, with a market size of USD 113.86 million in 2024.
• According to Cognitive Market Research, the German PACS and RIS market size was valued at USD 245.04 million in 2024 and is anticipated to grow at a CAGR of 6.5% during the projected period. Germany places a significant emphasis on the advancement of medical imaging technology and the digitalization of healthcare.
• The Italy PACS and RIS market is anticipated to see growth at a CAGR of 5.7% during the projected period, with a market size of USD 106.43 million in 2024.
• The Russia PACS and RIS market is anticipated to see growth at a CAGR of 5.3% during the projected period, with a market size of USD 191.82 million in 2024.
• The Spain PACS and RIS market is anticipated to see growth at a CAGR of 5.4% during the projected period with a market size of USD 101.48 million in 2024
• The Luxembourg PACS and RIS market is anticipated to see growth at a CAGR of 6.4% during the projected period, with a market size of USD 38.36 million in 2024.
• The Portugal PACS and RIS market is anticipated to see growth at a CAGR of 6.1% during the projected period, with a market size of USD 25.99 million in 2024.
• The Greece PACS and RIS market is anticipated to see growth at a CAGR of 6.6% during the projected period, with a market size of USD 14.85 million in 2024.
• The Rest of Europe's PACS and RIS market is anticipated to see growth at a CAGR of 5.0% during the projected period, with a market size of USD 191.82 million in 2024.

Asia Pacific PACS and RIS

According to Cognitive Market Research, the global PACS and RIS market size was estimated at USD 4125.2 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 948.80 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.8% from 2024 to 2031.

• According to Cognitive Market Research, the China PACS and RIS market size was valued at USD 426.96 million in 2024 and is anticipated to grow at a CAGR of 9.3% during the projected period. PACS and RIS surged in China due to the government's support for medical technology advancements and the rapid adoption of healthcare IT.
• The Japan PACS and RIS market is anticipated to see growth at a CAGR of 8.3% during the projected period, with a market size of USD 130.93 million in 2024.
• The India PACS and RIS market had a market share of USD 113.86 million in 2024 and is anticipated to grow at a CAGR of 11.6% during the projected period. India's increasing demand for advanced medical solutions and the increasing investments in healthcare infrastructure.
• The South Korean PACS and RIS market is anticipated to see growth at a CAGR of 8.9% during the projected period, with a market size of USD 94.88 million in 2024.
• The Australian PACS and RIS market is anticipated to see growth at a CAGR of 9.5% during the projected period, with a market size of USD 49.34 million in 2024.
• The South East Asia PACS and RIS market is anticipated to see growth at a CAGR of 10.8% during the projected period, with a market size of USD 65.47 million in 2024.
• The Rest of Asia Pacific PACS and RIS market is anticipated to see growth at a CAGR of 9.6% during the projected period, with a market size of USD 67.36 million in 2024.

South America PACS and RIS

According to Cognitive Market Research, the global PACS and RIS market size was estimated at USD 4125.2 Million, out of which Latin America held the market share of around 5% of the global revenue with a market size of USD 206.26 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.2% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil PACS and RIS market size was valued at USD 88.28 million in 2024 and is anticipated to grow at a CAGR of 7.8% during the projected period. PACS and RISs flourished in Brazil due to The adoption of innovative medical imaging technologies and the expansion of the healthcare sector.
• Argentina's PACS and RIS market had a market share of USD 34.65 million in 2024 and is anticipated to grow at a CAGR of 8.1% during the projected period. Argentina's Governmental assistance for the integration of digital health systems and the modernization of healthcare.
• Colombia PACS and RIS market is anticipated to see growth at a CAGR of 7.0% during the projected period, with a market size of USD 18.36 million in 2024.
• Peru PACS and RIS market is anticipated to see growth at a CAGR of 7.4% during the projected period, with a market size of USD 16.91 million in 2024.
• Chile PACS and RIS market is anticipated to see growth at a CAGR of 7.5% during the projected period, with a market size of USD 14.85 million in 2024.
• The Rest of Latin America's PACS and RIS market is anticipated to see growth at a CAGR of 6.3% during the projected period, with a market size of USD 33.21 million in 2024.

Middle East and Africa PACS and RIS

According to Cognitive Market Research, the global PACS and RIS market size was estimated at USD 4125.2 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 82.50 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.5% from 2024 to 2031..

• The GCC Countries PACS and RIS market is anticipated to see growth at a CAGR of 8.3% during the projected period, with a market size of USD 35.31 million in 2024. PACS and RIS sales flourish due to The implementation of state-of-the-art medical technologies and substantial investments in healthcare infrastructure.
• The Egypt PACS and RIS market is anticipated to see growth at a CAGR of 7.8% during the projected period, with a market size of USD 8.66 million in 2024.
• The South Africa PACS and RIS market is anticipated to see growth at a CAGR of 8.5% during the projected period, with a market size of USD 13.04 million in 2024. PACS and RIS sales flourished in South Africa due to Initiatives to enhance healthcare accessibility and incorporate state-of-the-art medical imaging solutions.
• The Turkey PACS and RIS market is anticipated to see growth at a CAGR of 7.0% during the projected period, with a market size of USD 7.10 million in 2024.
• The Nigeria PACS and RIS market is anticipated to see growth at a CAGR of 6.6% during the projected period, with a market size of USD 8.66 million in 2024.
• The Rest of the MEA PACS and RIS market is anticipated to see growth at a CAGR of 6.5% during the projected period, with a market size of USD 9.74 million in 2024.

PACS and RIS Market Analysis

How are Segments Performing in the Global PACS and RIS Market?

PACS and RIS Market Product Segment Analysis

According to Cognitive Market Research, PACS (Picture Archiving and Communication System) are likely to dominate the PACS and RIS Market over the forecast period. PACS solutions have been widely adopted in healthcare facilities worldwide due to their cost-effective storage and seamless access to medical images from a variety of modalities.

The RIS (Radiology Information System) is the fastest-growing segment in the PACS and RIS markets. The rapid expansion of RIS solutions is being driven by the growing demand for efficient administration of radiology departments, which includes patient scheduling, examination monitoring, and invoicing.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of PACS and RIS Industry. Request a Free Sample PDF!

PACS and RIS Market Component Segment Analysis

According to Cognitive Market Research, the Software segment holds the largest share of the market. The demand for sophisticated software solutions for the management and storage of medical images has generated substantial growth in this sector as healthcare facilities seek scalable and efficient systems to address their imaging requirements.

In the PACS and RIS Market, the Hardware sector has been expanding at a rapid pace. The demand for the physical components necessary to support digital imaging modalities, including ultrasounds, MRIs, and X-rays, has increased as a result of their increasing use. The hardware segment is anticipated to experience substantial growth as healthcare facilities continue to upgrade their imaging infrastructure.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

PACS and RIS Mode of Delivery Outlook: Segment Analysis

PACS and RIS Market Mode of Delivery Segment Analysis

According to Cognitive Market Research, The Web-based segment holds the largest market share. This is due to the fact that web-based solutions are a preferred option for many healthcare facilities due to their increased accessibility, flexibility, and simplicity of integration with existing healthcare systems.

In the PACS and RIS market, the rapidly growing sector is the Cloud-based category. The rapid expansion of cloud-based PACS and RIS is being driven by the growing demand for cost-effective, scalable solutions that can be accessed remotely. Additionally, these solutions provide healthcare providers with improved data security and disaster recovery capabilities, which are essential.

• On-Premise
• Cloud-based
• Web-based

PACS and RIS End User Outlook: Segment Analysis

PACS and RIS Market End User Segment Analysis

According to Cognitive Market Research, the Hospitals segment dominates the market. Hospitals necessitate robust systems to manage and preserve the high volume of imaging studies efficiently they conduct, rendering PACS and RIS indispensable tools for their operations.

Diagnostic Centers is projected to be the fastest-growing segment in the PACS and RIS market. The rapid expansion of PACS and RIS solutions in these facilities is being driven by the increasing demand for imaging services and the growing number of diagnostic centres.

• Hospitals
• Diagnostic Centers
• Others

Author's Detail

Anushka Gore

Research Associate at Cognitive Market Research

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Anushka Gore is a seasoned market researcher specializing in the dynamic landscape of the Pharmaceutical industry. With a keen analytical mind and a deep passion for healthcare advancements, she has dedicated herself unraveling the intricate market trends and consumer behaviors that shape the future of medical technologies and services.

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