europe pacs and ris Market

The Europe PACS and RIS market is expected to reach US$ 1,329.87 Mn in 2027 from US$ 752.02 Mn in 2018. The market is estimated to grow with a CAGR of 7.0% from 2019-2027.

The growth of the PACS and RIS market is primarily attributed to the developments in diagnostic imaging modalities coupled with rising number of diagnostic tests procedures and new product launches & FDA approvals. However, availability of better substitutes is likely to pose a negative impact on the market growth. On the other hand, growing medical technology industry the European region is likely to have a positive impact on the growth of the PACS and RIS market in the coming years.

During recent years, there have been a various developments in imaging modalities within healthcare for diagnostic purposes. Radiology has developed as a recent trend towards computerized management in the health service and has responded to the demand for cost-efficient and rapid communication between departments of radiology and their users. Medical imaging is a vital part in medical care and treatment across the region. Rising awareness regarding early diagnosis of diseases has led to an increase in the total number of diagnostic tests procedures performed around the world. According to the National Health Services (NHS) UK, there were 4.1 million imaging tests conducted in England in the 12 months from February 2016 to January 2017. Of these, 3.49 million imaging tests were reported to have taken place in January 2017. The national rate for CT scans were 126 per 1,000 individuals around 2014 and 2015. Rates ranged from 209 (New Brunswick) and 170 (Newfoundland and Labrador) to 88 (Alberta) and 93 (Prince Edward Island). As per the World Health Organization (WHO), with improved health care policy and the better availability of medical equipment, there has been rise in the number of global imaging-based procedures. Thus, the growing number of diagnostic imaging procedures performed across the region resulting in increasing requirement of consumables for tests are likely expected to drive the growth of the PACS and RIS market over the coming years in the region.

In 2018, the Picture Archive and Communication System (PACS) segment held the most significant market share in the PACS and RIS market, by product. This segment is also anticipated to dominate the market in 2027 as the solution offers benefits such as improved viewing and analysis, easy access to images and other reports, efficient data management as well as a user-friendly interface. Also, the segment is anticipated to witness growth at a significant rate during the forecast period, 2018 to 2027.
In 2018, the software segment held a most significant market share of the PACS and RIS market, by component. This segment is also estimated to dominate the market in 2027 since software form an integral part of PACS and RIS. Software used in PACS and RIS is a central-server solution that offers all clinics and departments assistance during procedures. Also, the segment is also anticipated to witness growth at a significant rate during the forecast period, 2018 to 2027.

In 2018, the web-based segment held the most significant market share the PACS and RIS market, by deployment. This segment is also projected to dominate the market in 2027 due to benefits such as enhanced service for physicians as well as improved patient care. However, the cloud-based segment is anticipated to witness growth at a significant rate during the forecast period, 2018 to 2027, due to the increased adoption as well as the development of cloud-based solutions.

In 2018, the hospitals segment held a considerable market share of the PACS and RIS market, by end user. This segment is also predicted to dominate the market in 2027 owing to the availability of better healthcare facilities as well as the presence of reimbursement policies that lead to growth in the number of procedures conducted. Also, the segment is anticipated to witness growth at a significant rate during the forecast period, 2018 to 2027.

Some of the major primary and secondary sources for PACS and RIS included in the report are, Business Monitor International (BMI), Digital Imaging and Communications in Medicine (DICOM), The Groupement Radiologues Associ?s (GRA), Health Information Systems (HIS), The Food and Drug Administration (FDA)