Report Predicts Five-Year Balloon For VNA and PACS Markets

October 17, 2013

VNA and PACS markets are expected to grow significantly from 2013 to 2018.

According to a report by global marketing research firm MarketsandMarkets, the global VNA and PACS markets will likely grow into a $3.48 billion industry by 2018..

 

Conducted by global marketing firm MarketsandMarkets, the report looked at vendor-neutral archvies (VNA), as well as PACS systems, in both radiology departments and enterprise endeavors. Currently, department-level PACS make up the majority of the market, producing 86.5 percent of all revenue.

 

Department-level PACS are considered to be the most mature facet of this market, meaning their projected growth will be stable, but moderate. Between 2013 and 2018, the report predicted a 5.2 percent compounded annual growth rate (CAGR). Enterprise PACS are expected to experience more significant growth, soaring to $510 million by 2018. Significant growth is also expected for VNAs – a rise from $165.3 million in 2013 to $335.4 million in 2018.

 

While North America claims the majority of the VNA and PACS markets, boasting 64 percent and 48 percent, respectively, the report anticipates international growth. Germany, France, and the United Kingdom are significant players in the European market; the Asian-Pacific region is expected to expand thanks to national and statewide healthcare IT policies in Australia, China, and Japan. There is also potential for VNA and PACS adoption in Latin America and the Middle East, according to MarketsandMarkets.