Vendor Neutral Archive Market & PACS Market - Global Forecast to 2018

From: Fast Market Research, Inc.
Published: Wed Nov 13 2013

Vendor neutral archives (VNAs) are information technology platforms that allow single, long-term, centralized, and standard-based storage of medical imaging studies and other patient data from multiple vendor PACS. Picture Archiving and Communication System, on the other hand, function as tools that directly connect to different imaging modalities in a facility by acquiring images from them. The global market is estimated to be valued at $165.3 million in 2013 and is expected to reach $335.4 million by 2018, at a healthy CAGR of 15.2%.

The Picture Archiving and Communication System market is broadly categorized into departmental PACS and enterprise PACS. Departmental PACS dominates the revenue market with a market share of around 90.8% in 2013. The departmental PACS market is segmented into radiology, cardiology, and other departmental PACS. Radiology PACS accounts for the largest share-63%-of the departmental PACS market owing to the increasing volumes of diagnostic images in this department.

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The vendor neutral archives market is classified on the basis of delivery mode (the form of the product offering), procurement model (deployment options chosen by customers), and VNA suppliers. In this market by delivery mode, on-premise VNA solutions are the largest segment of the market owing to the better data security and control that they offer, as perceived by hospitals. This segment is valued at $140.3 million in 2013. Hybrid vendor neutral archives solutions are expected to grow at the highest CAGR during the forecast period. By procurement model, multi-departmental VNAs have the highest adoption rate globally in 2013 and contribute around 41% to the overall market.

The driving forces for this market include the rising demand for non-DICOM content management, disaster recovery, and lifecycle management solutions. New opportunities for the market lie in development of VNAs through implementation of a patient-centric approach. However, factors such as long vendor neutral archives lifecycles and misinterpretation of the VNA concept restrain the market. Keeping pace with the evolving standards for medical images and image enablement of EHRs (Electronic Health Records) are the challenges faced by the market.

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