Healthcare Cloud Picture Archiving & Communications System Market Size Worth $1.06 Billion By 2027

Grand View Research, Inc.

SAN FRANCISCO, Jan. 27, 2021 /PRNewswire/ -- The global healthcare cloud picture archiving & communications system market size is expected to reach USD 1.06 billion by 2027, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 8.1% from 2020 to 2027. The increased patient data storage capacity of cloud-based PACS (picture archiving & communications system) due to ample storage space is the key contributor to the market growth.

Key suggestions from the report:

• The cardiology application segment is expected to expand at a lucrative growth rate of 7.3% over the forecast period owing to the rising prevalence of cardiac disorders and associated mortality
• The hospital end-use segment dominated the market with a revenue share of 38.3% in 2019. This is because of the ability of PACS to deliver a comprehensive suite of clinical tools that have increased the workflow efficiency
• North America dominated the market as of 2019 with a revenue share of 40.4%. This can be attributed to the presence of established players, coupled with technologically advanced infrastructure
• Asia Pacific is anticipated to witness prominent growth over the forecast period owing to the high potential and rapidly growing markets of India, Japan, and China in this region
• Industry players are involved in strategies, including mergers & acquisitions, collaborative agreements, geographic expansion, and product launches, to gain a competitive edge. For instance, in April 2020, Konica Minolta Healthcare Americas launched a new medical image management solution for specialty clinics called Rede PACS and Rede Mini PACS. This enhanced the company's portfolio

Read 120 page research report with ToC on "Healthcare Cloud Picture Archiving & Communications System Market Size, Share & Trends Analysis Report By Application (Cardiology, Oncology), By End-use (Hospitals, Diagnostic Centers), By Region, And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/healthcare-cloud-picture-archiving-communications-system-market