The Growing PACS and RIS Market is driven by Increasing Adoption of Digital Radiology
The PACS and RIS market has seen significant growth in recent years owing to the rising adoption of digital radiology and imaging technologies. PACS or Picture Archiving and Communication System is a medical imaging technology that provides economical storage and convenient access to images from multiple modalities across various departments. RIS or Radiology Information System is a fully digital and filmless workflow software suite that streamlines radiology operations. As healthcare organizations transition from conventional films to Direct Digital Radiology and Digital Radiography, the need for PACS and RIS software has increased tremendously. These digital systems offer benefits such as improved productivity, reduced storage costs, accelerated image interpretation and enhanced collaboration between clinicians.
The Global PACS and RIS Market is estimated to be valued at US$ 4212.87 Mn in 2024 and is expected to exhibit a CAGR of 7.4% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the PACS and RIS market are 3A Composites GmbH, Multi-Pak USA, Inc., Laird Plastics, United Industries Group, Inc., Acrylitec Displays, Ray Chung Acrylic Enterprise Co., Ltd., Mitsubishi Chemical Corporation, Plaskolite, LLC, Lucite International, Evonik Industries AG. These major players are focusing on various organic and inorganic growth strategies such as new product launches, partnerships and contracts to strengthen their foothold in the global market.
The adoption of PACS and RIS Market Trends is growing rapidly owing to the rising volume of medical images generated every day due to growing patient base and increasing usage of medical imaging modalities. The growing need to manage high image data volumes efficiently and improve workflow is driving the demand for these digital radiology solutions.
The PACS and RIS market is expanding globally due to the growing healthcare infrastructure and expenditure in developing countries. Factors such as rising medical tourism, government initiatives to modernize healthcare facilities and increasing incidence of chronic diseases are contributing to the market growth worldwide.
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