Increased Preference over Conventional Systems in Medical Imaging to Boost PACS and RIS Market, Transparency Market Research

- PACS and RIS market is projected to gain promising growth avenues during 2019 to 2027. Growing focus of government bodies toward digitization of products together with increased health concerns are likely to spur sales of market.

- Market will show rapid expansion in North America owing to presence of sturdy healthcare sector.

ALBANY, N.Y., July 14, 2021 /PRNewswire/ -- PACS refers to a picture archiving and communication system. It can be defined as a medical imaging technology that offers easy access to and cost-effective storage of images from manifold modalities.

RIS refers to a radiology information system. It can be defined as a computerized database mainly utilized by radiology departments for various purposes such as the storage, manipulation, and distribution of radiological data and imagery of patient.

Both the systems are increasingly employed across various end-users such as diagnostic centers, hospitals, ambulatory surgical centers, and research and academic institutes.

The global PACS and RIS market is set to expand at a promising CAGR of 5.3% from 2019–2027, states a new study by Transparency Market Research (TMR). The total valuation of market was US$ 2,633.4 Mn during 2018.

PACS and RIS Market: Key Findings

• Rising Number of Cardiology Procedure Fuels Market Sales

The organizations operating in the cardiology imaging have accepted digital imaging and communications in medicine (DICOM) standard in order to create commercial PACS particularly intended for cardiology. As studies pertaining to the cardiology are dynamic, the number of images as well as data are generated is huge for each study carried out. Thus, the use of electronic management of images can be beneficial for saving all these data generated. A noteworthy rise in the number of cardiology procedures is observed in recent few years. This factor is likely to drive the demand opportunities in the PACS and RIS market.

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• Growing Government Initiatives for Technological Advancement in Health Care Boosts Product Demand

The government bodies of many countries across the globe are gaining acquaintance on the significance of health care IT. As a result, they are promoting the use of PACS and RIS for accurate and thorough analysis of the patients' health. This scenario is boosting the market growth. Apart from this, the growing awareness pertaining to the ability of health care IT systems to advance ease of operation and management of massive patient records will assist in the market expansion in the years to follow.

Explore 232 pages of superlative research, current market scenario, and extensive geographical projections. Gain insights into PACS and RIS Market - (Product - RIS and PACS (Cardiology, Dental, Oncology, and Orthopedic PACS); Component - Hardware, Software, and Services; Deployment - Web-based, Cloud-based, and On-premise; End User - Hospitals, Diagnostic Centers, Research & Academic Institutes, and Ambulatory Surgical Centers) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019- 2027 at https://www.transparencymarketresearch.com/report-toc/1232

PACS and RIS Market: Growth Boosters

• Over the period of recent few years, there is notable growth in the acceptance of EMR systems in hospitals as well as office-based practices. Similarly, the need for PACS and RIS is growing owing to their ability to save medical images electronically.
• Health care IT systems can work as a helpful tool to gain transparency in various medical insurance claim processes. Growing awareness about this factor is boosting the market expansion.
• In recent few years, the companies actively engaged in the global PACS and RIS market are utilizing various strategic moves in order to expand their businesses. As a result, they are seen busy in many activities such as new product launches, regulatory approvals, acquisitions, collaborations, and training and development activities. On the back of all these activities, the global PACS and RIS market is estimated to grow at rapid pace in the years to follow.

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PACS and RIS Market: Well-Established Participants

The report performs profiling of leading as well as new participants working in the PACS and RIS market. Thus, it provides data on many crucial aspects such as financial status, research activities, and revenues of each player in the market.

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The list of key players operating in the global market for PACS and RIS includes many names such as:

• Philips Healthcare
• GE Healthcare
• McKesson Corporation
• Fujifilm Holdings Corporation
• Agfa Healthcare
• Allscripts Healthcare Solutions, Inc
• Siemens Healthineers

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