|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
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The global Vendor-Neutral Archive (VNA) and PACS Market is estimated to be USD 3,297.6 million in 2021. It is expected to reach USD 4,612.3 million by 2027, registering a CAGR of 5.83% from 2022 to 2027.
Covid-19 had a significant impact on the studied market. The increase in Covid-19 patients and surge in diagnostics requirements in the diagnostic centers, clinics, hospitals, and mobile clinics have increased during the pandemic. It is expected to boost the demand for integrating VNAs into hospital systems for easy diagnosis and access to patient records. According to an article titled “Disaster Planning During SARS-CoV-2/COVID: One Radiology Informatics Team’s Story,” published in April 2021, over the past few decades, most radiology departments have had to deal with unplanned downtimes of their critical systems, such as the picture archiving and communication system (PACS). During the study, researchers enabled their PACS workstation for home use and evaluated system performance. And after that, various guidelines were made, and several research centers allowed wireless adapters for the PACS workstations for use at home. It is expected to positively impact the growth of the market studied. Thus, COVID-19 is expected to considerably impact the market studied.
Factors such as increasing demand for the universalization of medical image archiving, reducing data storage costs, and high-level integration with Electronic Health Records (EHR) industry are some of the major factors expected to drive the market studied. In addition, the universal demand for digitization of healthcare systems has increased the demand for medical archiving. In an e-book published by “Tech Target,” it is mentioned that the advancements in diagnostic imaging, increased adoption of health IT and EHR, and the explosion of big data in healthcare is rapidly driving the growth of medical image archiving, which is generating demand for VNA. Thus, the research and studies show demand for medical imaging archives, which may drive the growth of the overall market studied.
Additionally, studies have been conducted recently to clarify the Pros and Cons of PACS and VNAs and suggest that organizations can use PACS successfully, but to save money in the long run and quickly associated with data storage and effectively use medical images, VNAs should be considered as a promising option for reducing long-term costs and allowing greater interoperability around critical imaging data. Moreover, the compatibility of VNA with older data archival systems is another major driving factor for the studied market. For instance, an article titled “Advantages of Using a Neutral Vendor Archive for Your Enterprise,” published in March 2022, stated that VNAs could assist healthcare providers in optimizing their medical imaging operations and increase business growth with specific advantages along with enhanced interoperability and data exchange. Also, the article highlighted that some of the commercially available powerful VNAs offer the prominent advantage of acting as a single integration point for data stored by diverting the burden of integration from every separate clinical system connected to the organization’s network. Thus, the market studied is expected to grow due to the abovementioned factors.
Moreover, the engagement of major companies worldwide in advancing enterprise imaging is another driving factor for the market studied. For instance, in November 2021, GE Healthcare developed a next-generation, cloud-based Picture Archiving and Communication System (PACS) to help healthcare organizations keep current with rapidly evolving technology. The subscription-based diagnostic imaging solution called Edison True PACS1 encompasses diagnostic reading, exam workflow, AI Applications, 3D post-processing, enterprise visualization, and archiving in a single platform. Thus, advances in the VNA and PACS segment are predicted to drive the market growth globally.
Thus, the studied market growth is attributed to the abovementioned factors, and the market is expected to grow significantly over the forecast period. However, the availability of long-term data affecting the decisions of service providers and long product life cycle are some factors that are predicted to hinder the market growth.
Scope of the Report
As per the scope of this report, VNA is a technology in which images and documents are stored in a standard format. PACS is a technology that provides economical storage and convenient access to images from multiple modalities.
The vendor-neutral archive (VNA) and PACS market are segmented by Imaging Modality (Angiography, Mammography, Computed Tomography, Magnetic Resonance Imaging, Ultrasound, and Other Imaging Modalities), Type (PACS and VNA Software), Mode of Delivery (On-Site (Premise), Hybrid and Cloud-hosted), Usage Model (Single Department, Multiple Departments, and Multiple Sites), and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America), and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major global regions. The report offers the value (USD million) for the above segments.
|By Imaging Modality|
|Magnetic Resonance Imaging|
|Other Imaging Modalities|
|By Mode of Delivery|
|By Usage Model|
Key Market Trends
On-Site (Premise) Segment is Expected to Grow During the Forecast Period
The on-site model is the traditional model of software implementation. Healthcare facilities and hospitals largely prefer on-premises data storage to store and manage patient data. Customers use the on-site mode of delivery when they need to migrate to the new technology or modify their legacy systems. As VNA and PACS technologies are new for some end-users or service providers, they prefer the on-site mode of delivery. Hence, on-premises software is expected to account for the significant revenue share in the studied market, owing to the increasing adoption by service providers globally.
On-premises mode of delivery allows specialized integration with other existing business systems, which provides extra security because servers and data are physically located in service providers inside of the office. The article “On-Premises Vs. Cloud: 6 Key Differences Between On-Premises and Cloud,” published in May 2022, stated that on-premises software is deployed and maintained in-house at a physical office instead of being hosted on a vendor-supplied cloud. These run under company supervision, while the systems and data remain under the company’s control. Thus, the security associated with the mode of delivery is expected to drive the segment growth of the studied market.
Moreover, the innovation, product launch, and continuous activities by major players in the segment are booming the segment growth. For instance, in February 2022, ScImage, Inc., a leading provider of cloud-centric enterprise imaging and reporting solutions, launched its PICOM365 enterprise imaging workflow. This PICOM365 delivers full functioning capabilities of on-premises PACS software solutions and is powered by Microsoft Azure Cloud.
Therefore, owing to the abovementioned factors, the segment is expected to grow over the forecast period.
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North America is Expected to Dominate the Market Over the Forecast Period
The Vendor-Neutral Archive (VNA) AND PACS market in North America are expected to show lucrative growth owing to the factors such as increasing demand for the universalization of medical image archiving, reducing data storage costs, and compatibility of VNA with older data archival systems. In addition to these factors, the well-developed infrastructure of healthcare IT, the presence of major players, and initiatives taken by market players in the United States are bolstering the market's growth.
Launching products by the market players is also propelling the market's growth in the country. For Instance, in August 2021, RamSoft launched Omega AI VNA. It is a vendor-neutral archive that enables the seamless exchange of images and imaging data across healthcare enterprises. Omega AI VNA consolidates images and data from any system to allow clinicians to see the complete picture of a patient's medical history. The Omega AI VNA is one of the first products of RamSoft's enterprise imaging platform. Again, in August 2021, GE Healthcare developed a next-generation, cloud-based Picture Archive and Communication System (PACS) named Edison True PACS. It is a diagnostic imaging and workflow solute currently available in the United States. Such launches are propelling the growth of the market.
Additionally, the studied market is expected to grow during the studied period in Canada and Mexico. The Increasing demand for product launches and partnerships among the market players and services providers in the countries is predicted to propel the market's growth. For Instance, in January 2022, the Mexican platform will advance digital diagnostics in Latin America. Healthtech Eva enabled remote test analysis and broadened access to healthcare by users outside large urban centers. The platform enables physicians to reduce paperwork, as radiology reports can be accessed digitally. Images can be enlarged and rotated, allowing for better interpretation and analysis. Its services are significantly cheaper than physical imaging plates by digitizing the test process.
In addition, in April 2022, Sectra signed a contract with North York General Hospital (NYGH) in Canada. NYGH will utilize the radiology and breast imaging modules and vendor-neutral archive (VNA) of Sectra's enterprise imaging solution to review and store images. It will enable NYGH to boost radiology reading efficiency and enhance current workflows to improve patient care by doing more without increasing the workload on staff. Thus, the advances in the countries across North America are expected to drive the market studied growth in the region.
Therefore, owing to the previously mentioned factors, the growth of the studied market is predicted in the North American region.
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The vendor-neutral archive (VNA) and PACS market is highly competitive and consists of a few major players. Continuous product innovation and strategic partnerships by major players are increasing. Companies like Agfa Healthcare NV, Dell Technologies Inc., Fujifilm Holdings Corporation, GE Healthcare, IBM Corporation, Koninklijke Philips NV, Lexmark International Inc., McKesson Corporation, Novarad Corporation, Siemens Healthineers AG, among others, hold a substantial market share in the vendor-neutral archive (VNA) and PACS market.
· In April 2022, the United States Department of Defense (DoD) collaborated with FUJIFILM Holdings Corporation for its Synapse PACS solution to standardize the United States Naval and Air Force medical treatment facilities' digital imaging networks' picture archiving and communication systems (DIN-PACS) for 10 years.
· In March 2022, Philips launched Ultrasound Workspace, a vendor-neutral echocardiography image analysis, and reporting platform solution, at the American College of Cardiology's Annual Scientific Session & Expo (ACC2022). It is the advanced vendor-neutral 2D/3D echocardiography analysis, viewing, and reporting system.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Demand for the Universalization of Medical Image Archiving
4.2.2 Reducing Data Storage Costs
4.2.3 High-level Integration with Electronic Health Records (EHR) Industry
4.2.4 Compatibility of VNA with Older Data Archival Systems
4.3 Market Restraints
4.3.1 Availability of Long-Term Data Affecting the Decisions of Service Providers
4.3.2 Long Product Life Cycle Affecting New Sales
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Imaging Modality
5.1.3 Computed Tomography
5.1.4 Magnetic Resonance Imaging
5.1.6 Other Imaging Modalities
5.2 By Type
5.2.2 VNA Software
5.3 By Mode of Delivery
5.3.1 On-Site (Premise)
5.4 By Usage Model
5.4.1 Single Department
5.4.2 Multiple Departments
5.4.3 Multiple Sites
5.5.1 North America
18.104.22.168 United States
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
188.8.131.52 South Korea
184.108.40.206 Rest of Asia-Pacific
5.5.4 Middle-East and Africa
220.127.116.11 South Africa
18.104.22.168 Rest of Middle-East and Africa
5.5.5 South America
22.214.171.124 Rest of South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 Agfa Healthcare NV
6.1.2 Dell Technologies Inc.
6.1.3 FUJIFILM Holdings Corporation
6.1.4 General Electric Company (GE Healthcare)
6.1.5 IBM Corporation
6.1.6 Koninklijke Philips NV
6.1.7 Lexmark International Inc.
6.1.8 McKesson Corporation
6.1.9 Novarad Corporation
6.1.10 Siemens Healthineers AG
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Global Vendor-Neutral Archive (VNA) and PACS Market market is studied from 2019 - 2027.
What is the growth rate of Global Vendor-Neutral Archive (VNA) and PACS Market?
The Global Vendor-Neutral Archive (VNA) and PACS Market is growing at a CAGR of 5.83% over the next 5 years.
What is Global Vendor-Neutral Archive (VNA) and PACS Market size in 2019?
The Global Vendor-Neutral Archive (VNA) and PACS Market is valued at 3297 Million USD in 2019.
What is Global Vendor-Neutral Archive (VNA) and PACS Market size in 2027?
The Global Vendor-Neutral Archive (VNA) and PACS Market is valued at 4612 Million USD in 2027.
Which region has highest growth rate in Global Vendor-Neutral Archive (VNA) and PACS Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Vendor-Neutral Archive (VNA) and PACS Market?
North America holds highest share in 2021.
Who are the key players in Global Vendor-Neutral Archive (VNA) and PACS Market?
Agfa Healthcare NV, GE Healthcare, IBM Corporation, FUJIFILM Holdings Corporation, Siemens Healthineers AG are the major companies operating in Global Vendor-Neutral Archive (VNA) and PACS Market.