In a recently published report, Healthcare Cloud Picture Archiving and Communications System Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Healthcare Cloud Picture Archiving and Communications System Market products.
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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.
Global Healthcare Cloud Picture Archiving & Communications System Market is valued approximately at USD 422.5 million in 2019 and is anticipated to grow with a healthy growth rate of more than 8.1% over the forecast period 2020-2027. Healthcare Cloud Picture Archiving & Communications System is a technology that is used to store and access medical data of patients. This technology assesses to images from multiple source modalities such as computed tomography (CT) and magnetic resonance imaging (MRI), X-ray plain film (PF), ultrasound, nuclear medicine and positron emission tomography (PET). Healthcare Cloud Picture Archiving & Communications System is a flexible and cost-effective technology as compared to traditional Picture Archiving & Communications System (PACS). This cloud technology also allows automatic transfer and storage of patients medical data files on a cloud server at the time of their creation, further allows user to access their data from anywhere and anytime. The rising number of illness across the globe and growing adoption of IT technologies in healthcare sector to provide hassle free and cost-effective treatment for patients are the few factors responsible for growth of the market over the forecast period. Moreover, the rising geriatric population as well as growing number of chronic diseases worldwide boost the demand of the market over the forecast period.
For instance: according to AgeingAsia.org, the number of populations aged 60 and above were 11,988,000 in 2019 and is expected to rise by 29,841,000 in 2050. Also, the total percentage of population aged 60 and above were 12.3% in 2019 and is expected to rise by 27.2 % in 2050. Similarly, according to American Hospital Association, the number of Americans with chronic medical conditions was 149 million in 2015 and is anticipated to rise to 164 million Americans suffering from chronic medical conditions in 2025. However, migration from legacy systems is a tedious task and high maintenance and service expenses is the major factor restraining the growth of global Healthcare Cloud Picture Archiving & Communications System market during the forecast period.
The regional analysis of global Healthcare Cloud Picture Archiving & Communications System market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rapid adoption of new technology, presence of key players in the region and high investment in healthcare expenditure. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027.
Major market player included in this report are:
Konica Minolta Healthcare Americas, Inc.
Koninklijke Philips N.V.
INFINITT North America Inc.
Core Sound Imaging, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
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Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Healthcare Cloud Picture Archiving & Communications System Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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