The increasing geriatric population and subsequent growth in the incidence of various diseases, advantages associated with specialty PACS, government initiatives to increase the adoption of healthcare IT solutions, growing investments in medical imaging, rising adoption of medical imaging IT solutions, and increasing use of imaging equipment.
Market Size
The global Specialty PACS market size is expected to reach USD 3.5 billion in 2024 from USD 2.6 billion in 2019, at a CAGR of 6.0%.
IBM Corporation (Merge Healthcare Incorporated) (US), McKesson Corporation (US), Agfa Healthcare (Belgium), Carestream Health (a part of Onex Corporation) (Canada), Philips Healthcare (Netherlands), Sectra AB (Sweden), Siemens Healthineers (Germany), Novarad (US), INFINITT North America (US), Intelerad Medical Systems (Canada), Topcon Corporation (Japan), Sonomed Escalon (US), Canon USA, Inc. (US) (a subsidiary of Canon Inc.), Visbion (UK), and EyePACS, LLC (US) are some key players in this market. These companies are focusing on increasing their presence in the high-growth markets through both organic as well as inorganic growth strategies such as product launches, acquisitions, and expansions.
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“IBM Corporation (Merge Healthcare Incorporated) is one of the leading providers of innovative solutions for specialty PACS“
The company’s leading position can be attributed to its robust product portfolio of technologically advanced and innovative software products, strong geographical presence, expertise in specialty PACS solutions, and continued focus on research & development activities. In February 2017, the company expanded its capabilities for the Watson Platform for Health Cloud and a specialized Watson Health Consulting Services at the Healthcare Information and Management Systems Society (HIMSS) Annual Conference & Exhibition.
“McKesson is one of the leading players in the medical specialty PACS market“
Its prominent position can be attributed to its well-diversified and robust product portfolio. The company has significant customer loyalty owing to its unique offerings in the field of medical image management. The company’s unique image storage and management solutions store all diagnostic image data and allow healthcare providers to securely share patient information throughout their organizations to accelerate patient diagnosis. In March 2017, the company formed a joint venture with Change Healthcare to create a new healthcare information technology company.
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