Market Trends of Vendor-Neutral Archive (VNA) And PACS Industry
On-Site (Premise) Segment is Expected to Hold a Significant Share Over the Forecast Period
The on-site model is the traditional model of software implementation. Healthcare facilities and hospitals largely prefer on-premises data storage to store and manage patient data. Customers use the on-site mode of delivery when they need to migrate to new technology or modify their legacy systems. As VNA and PACS technologies are new for some end-users or service providers, they prefer the on-site mode of delivery. Hence, on-premises software is expected to account for the significant revenue share in the studied market, owing to the increasing adoption by service providers globally.
The on-premises mode of delivery allows specialized integration with other existing business systems, which provides extra security because servers and data are physically located in service providers inside the office. As per an article published by Cleo Integration, a cloud-based integration platform, in May 2022, on-premises software was deployed and maintained in-house at a physical office instead of hosted on a vendor-supplied cloud. These run under company supervision, while the systems and data remain under the company's control. Thus, the security associated with the mode of delivery is expected to drive the segment growth of the studied market.
Moreover, the innovation, product launches, and continuous activities by major players in the segment are booming the segment growth. For instance, in February 2022, ScImage, Inc., a leading provider of cloud-centric enterprise imaging and reporting solutions, launched its PICOM365 enterprise imaging workflow. This PICOM365 delivers full functioning capabilities of on-premises PACS software solutions and is powered by Microsoft Azure Cloud. Therefore, owing to the abovementioned factors, the segment is expected to grow over the forecast period.
North America is Expected to Dominate the Market Over the Forecast Period
The Vendor-Neutral Archive (VNA) and PACS market in North America are expected to show lucrative growth owing to increasing demand for the universalization of medical image archiving, reducing data storage costs, and compatibility of VNA with older data archival systems. In addition to these factors, the well-developed infrastructure of healthcare IT, the presence of major players, and initiatives taken by market players in countries such as the United States are bolstering the market's growth.
By introducing new products to the market, major players are contributing to the market's growth in the region. For Instance, in August 2021, RamSoft launched Omega AI VNA. It is a vendor-neutral archive enabling seamless images and imaging data exchange across healthcare enterprises. Omega AI VNA consolidates images and data from any system to allow clinicians to see the complete picture of a patient's medical history. Again, in August 2021, GE Healthcare developed a next-generation, cloud-based Picture Archive and Communication System (PACS) named Edison True PACS. It is a diagnostic imaging and workflow solute currently available in the United States. Such launches are propelling the growth of the market.
Additionally, the studied market is expected to grow during the studied period in Canada and Mexico. The Increasing demand for product launches and partnerships among the market players and service providers in the countries is predicted to propel the market's growth. For Instance, in January 2022, the Mexican platform will advance digital diagnostics in Latin America. Healthtech Eva enabled remote test analysis and broadened access to healthcare by users outside large urban centers. The platform enables physicians to reduce paperwork, as radiology reports can be accessed digitally. Images can be enlarged and rotated, allowing for better interpretation and analysis. Its services are significantly cheaper than physical imaging plates by digitizing the test process.
In addition, in April 2022, Sectra signed a contract with North York General Hospital (NYGH) in Canada. NYGH will utilize the radiology and breast imaging modules and vendor-neutral archive (VNA) of Sectra's enterprise imaging solution to review and store images. It will enable NYGH to boost radiology reading efficiency and enhance current workflows to improve patient care by doing more without increasing the workload on staff. Thus, the advances in the countries across North America are expected to drive the market-studied growth in the region. Therefore, owing to the previously mentioned factors, the growth of the studied market is predicted in the North American region.
