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(Health-NewsWire.Net, December 24, 2019 ) Market Overview
• The market valuation of global Vendor Neutral Archive and PACS Market stood at USD YY million in 2018. The forecasted cost in 2026 is USD YY million. The expected CAGR is YY% during the forecasting period (2019-2026).
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Market Drivers
• Increasing demand for universalization of medical image archiving,
• Growing demand for storage of non-image medical data,
• Reducing data storage costs and
• High-level integration with EHR industry.
Market Restraints
• However, the market is affected by the availability of long-term data which further affects the decisions of service providers. The market growth is also hindered by the extended product lifecycle and even by the fact that both VNA & PACS are not the stand-alone products.
• Workflow is the major challenge in the healthcare sector, as the informational processes must be adequately streamlined to deliver the right treatment for the respective patient.
• Though many technologies made their way to this market, VNA has made its mark and for all the right reasons.
• Neutrality is the primary focus of VNA. Data storage at non-proprietary and interchangeable formats differentiates the VNA from others.
• Also, owing to the high volume of medical images, providers are looking for the better approaches to access and store them.
• Moreover, VNA makes it easier by separating the imaging layer from the archiving layer. All the factors are contributing to the growth of the market.
• According to the study in 2016, around 35% of the American hospitals have adopted VNA, and another 20-25 percent were planning to implement this approach in their organizations.
Market Segmentation
• Global Vendor Neutral Archive and PACS Market consist of the following segments based on the product: Imaging Modalities, PACS, VNA Software, Data Storage Solutions, and Datacenters.
• The market is also segmented based on delivery mode into on-premise, cloud hosted and Hybrid VNA. Further, the market has the following categories based on the usage: single, multiple departments and multiple sites. Finally, the market is classified by the end-users into software vendors and Infrastructure vendors.
• High security and better access to the data has led the On-premise category to hold the lion share of the market based on delivery mode.
• Enhanced data control and high security are the major factors that differentiate on-premise from others.
• Also, the growth of healthcare centers and demand for individual data centers are poised to extend the market in the coming years.
• However, high costs incurred in this segment restrict the on-premise market growth. This factor has created an opportunity for the Hybrid VNA, which involves cloud-based component for storage. Medium and small-scale medical data centers are implementing this strategy from the past few years. This is expected to grow at a higher growth rate in this segment.
• The report on Global Vendor Neutral Archive and PACS market also provides geographical analysis. North America has the largest market for VNA & PACS, due to the acts such as HITECH and ACA.
• The same trend will be witnessed in the coming years in this region. India, China, and Australia are expected to have a large market shortly. This can be attributed to the government support and increasing awareness regarding the efficiency of the product. The major companies in the VNA & PACS market include IBM, Dell, Toshiba, and Siemens.
Scope of the report
• The report covers the factors impacting the market, Porter 5 Forces, Market Share Analysis, Price trend analysis, Product Benchmarking, and company profiles.
• The report profiles the following companies, which includes AGFA Healthcare, ACUO Technologies, Novarad Corporation, Fujifilm Corporation, IBM, Dell, Toshiba Healthcare, Siemens Healthcare, Philips Healthcare, TeraMedica, and GE Healthcare
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