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.
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 (-)
The Global VNA & PACS market is geographically segmented into
- North America
- 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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