VNA, PACS market slated to reach $3.48B

The global vendor-neutral archive (VNA) and PACS market is projected to generate $3.48 billion U.S. (2.56 billion euros) in revenues by 2018, according to a new report.

The report by business research firm MarketsandMarkets included VNA as well as PACS installations at the radiology department and enterprise level. Departmental PACS currently dominates the VNA and PACS market, generating 86.5% of total revenue.

A mature market that generates most of its revenues from PACS replacements, the departmental PACS sector is expected to have a stable compound annual growth rate (CAGR) of 5.2% from 2013 to 2018, according to MarketsandMarkets.

The fast-growing enterprise PACS market is expected to surge at an almost double-digit CAGR, however, to reach $510 million (375 million euros) by 2018. Reflecting the growing popularity of VNAs, the VNA market is currently in the growth phase of its product lifecycle. It's estimated to be worth $165.3 million (121.6 million euros) in 2013 and is expected to grow at a 15.2% CAGR to reach $335.4 million (246.7 million euros) by 2019, MarketsandMarkets said.

On a geographical basis, North America has the leading share of both the VNA and PACS sectors, with shares of 64% and 48%, respectively. U.K., Germany, and France are significant contributors to the European VNA and PACS market, while the Asia-Pacific region is considered the most promising region due to national and statewide healthcare IT policies in Australia, China, and now Japan, MarketsandMarkets said.

Although market penetration of VNAs in the rest of the world is low, PACS technology is now widely adopted in Latin America and the Middle East, the company said.

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