Europe PACS and RIS Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Product, Component, Deployment, End User

The PACS (Picture Archiving and Communication System) and RIS (Radiology Information System) market in Europe is expected to grow from US$ 779. 0 million in 2019 to US$ 1,439. 9 million by 2027; it is estimated to grow at a CAGR of 7.

New York, May 31, 2021 (GLOBE NEWSWIRE) -- announces the release of the report "Europe PACS and RIS Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Product, Component, Deployment, End User" -
9% from 2020 to 2027. Cancer, heart diseases, musculoskeletal diseases, and other chronic diseases are leading causes of death and disability that requires several imaging modalities for diagnostic and treatment monitoring purposes. As per the National Center for Chronic Disease Prevention and Health Promotion, chronic diseases take up US$3.3 trillion in annual health care costs. The rising prevalence of musculoskeletal diseases is a significant factor for market growth. According to the International Osteoporosis Foundation, in 2018, osteoporosis affected 200 million women worldwide. These totals mean osteoporotic fractures are responsible for more hospitalizations than heart attacks, strokes, and breast cancer combined.

The use of PACS over the conventional hard-copy images provides various advantages for patients and increases the efficiency of operation in hospitals.PACS are used in hospitals, whereas in traditional paper-based systems and orthopedic films are prone to be misplaced and lost, which is leading to longer examination time and increasing the patient waiting lists.

Also, the implementation of PACS facilitates real-time access to patients’ medical records and enables retrieval of historical information for off-site consultations. Hence, PACS helps in providing appropriate treatment for patients, offering significant growth opportunity for the market in the coming years.

The Europe PACS and RIS market in is segmented into product, component, deployment, and end user.Based on product, the market is segmented into Picture Archive and Communication System (PACS) and Radiology Information System (RIS).

In 2019, the picture archive and communication system (PACS) segment accounted for the largest share of the PACS and RIS market by product.The growth of the market for this segment is attributed to the as the solution offers benefits such as improved viewing and analysis, easy access to images and other reports, efficient data management, and a user-friendly interface.

A growing number of product introductions and approvals are estimated to offer a lucrative opportunity for market growth. Moreover, the market for the picture archive and communication system (PACS) segment is estimated to grow at the highest CAGR during the forecast period.

The rapid spread of the COVID-19 and the special care that critical patients need are the major factors putting pressure on the European healthcare system.Government of various European countries started employing plans to prepare for the crisis after the boom of infections hit Italy in April 2020.

During the action plan, the private and public healthcare institutions raised demand for radiological imaging devices of high quality to provide accurate diagnostics to the sufferers.The hospital capacities were increased in various countries for immediate treatment of the patients.

The NHS is closely monitoring supplies of various medical devices in various countries of the region and managing the distribution networks to make the primary equipment available to hospitals and public healthcare centers. Thus, the efforts undertaken by government created a surge in demand for PACS and RISs during the pandemic in the European region.

The overall Europe PACS and RIS market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

The process also serves the purpose of obtaining overview and forecast for the Europe PACS and RIS market with respects to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.

The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Europe PACS and RIS market. Agfa-Gevaert Group; INFINITT Healthcare Co., Ltd.; McKesson Corporation; Cerner Corporation; General Electric ; Philips N.V.; FUJIFILM Holdings Corporation; Siemens AG; IBM ; and Novarad are among a few players operating in the Europe PACS and RIS market.
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