Vendor Neutral Archive and PACS market is valued at USD 3.26 Billion in 2018

December 13 15:24 2018
Vendor Neutral Archive (VNA) And Picture Archiving And Communication System (PACS) Market – VNA Market By Business Mode (Enterprise And Departmental), By Vendors (Independent And Commercial), By Mode Of Delivery (On-Premise VNA, Hybrid VNA And Complete Cloud-Hosted VNA)

Market Overview

Global VNA & PACS market size valued at USD 3.26 Billion in the year 2018 and it is expected to reach USD 4.3 Billion by 2023 with 5.8% CAGR.  Vendor Neutral Archive is supposed to offer a better control and secure sharing of data. Where Picture Archiving and Communication Systems allows healthcare organizations to capture, store, retrieve, transmit and manage medical images.

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Factors affecting market growth:

  • Government initiations towards the VNA and PACS market. (+)
  • Increased demand for Standard based storage, disaster recovery and life cycle management solutions. (+)
  • Consolidation of patient data by incorporating VNA’s with electronic health records. (+)
  • Data Breach incidences and misinterpretation of the VNA and long VNA lifecycles impacts buying decisions of users (-)

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Market Segmentation

The Global VNA & PACS market is geographically segmented into

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

North America leads the market with the largest consumer base in the world followed by Europe and Asia. The Asia Pacific market, which consists of fast-developing economies, has remained largely untapped. However, this market is expanding steadily and is witnessing rapid growth at present, owing to the increasing adoption of information technology. Developing countries have a huge patient base and thus the necessity for the VNA and PACS technologies is more in this market.

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