PACS and RIS Market Size, Trends and Growth Analysis by 2027

The PACS (Picture Archiving and Communication System) and RIS (Radiology Information System) market was valued at approximately US$ 2,836.65 million in 2019 and is projected to grow to US$ 5,441.87 million by 2027. This growth represents a compound annual growth rate (CAGR) of 8.4% from 2020 to 2027.

The expansion of the PACS and RIS market can be primarily attributed to advancements in diagnostic imaging technologies, an increasing number of diagnostic tests, and the affordability of next-generation PACS software. However, the market may face challenges due to the emergence of superior alternatives and concerns regarding data privacy throughout the forecast period.

PACS is essential for managing, retrieving, storing, and distributing medical images, particularly in radiology, where it facilitates the sharing and viewing of diagnostic images. On the other hand, RIS is a software system designed to manage medical images and related data, tracking radiology imaging orders and billing information. RIS works in conjunction with PACS and vendor-neutral archives (VNAs), overseeing image archives, record-keeping, and billing processes.

In recent years, there have been significant advancements in imaging modalities for diagnostic purposes within the healthcare sector. Radiology has increasingly embraced computerized management systems, responding to the demand for efficient and cost-effective communication between radiology departments and their users. For instance, the national rate for CT scans was approximately 126 per 1,000 individuals during 2014 and 2015, with variations across regions, such as 209 in New Brunswick and 88 in Alberta. Furthermore, the National Health Service (NHS) in the UK reported conducting 4.1 million imaging tests in England from February 2017 to January 2018, with 3.49 million tests occurring in January 2017 alone. According to the World Health Organization (WHO), the implementation of improved healthcare policies and protocols for medical imaging, particularly for COVID-19 diagnosis, has led to an increase in imaging-based procedures globally. Consequently, the rising number of diagnostic imaging procedures is expected to drive the demand for consumables and services in the PACS and RIS market in the coming years.

The COVID-19 pandemic has posed significant challenges worldwide, yet it has also increased the demand for PACS and RIS in hospitals. Rapid and accessible patient imaging has become crucial for treating COVID-19 patients, leading to a surge in the need for PACS solutions, which in turn supports market growth and sustainability. In April, the U.S. Food and Drug Administration (FDA) approved Intelerad's InteleConnect EV solution for diagnostic imaging review on various mobile devices. This approval is timely for healthcare systems, enabling radiologists to collaborate and utilize resources creatively, even without workstation access. The solution is compatible with multiple iPad and iPhone models, with plans for additional device support. These developments are expected to enhance the prospects for the PACS and RIS market during the ongoing pandemic.

The global PACS and RIS market is categorized by products into PACS and RIS. The PACS segment is further divided into orthopedic PACS, oncology PACS, cardiology PACS, dental PACS, and others. In 2019, the PACS segment held the largest market share, driven by the increasing adoption of PACS systems in radiological practices. This segment is also anticipated to exhibit the highest CAGR during the forecast period, with the orthopedic segment capturing a significant share.

When examining components, the PACS and RIS market is divided into software, hardware, and services. The software segment dominated the market in 2019 and is expected to achieve the highest CAGR of 9.0% during the forecast period.

In terms of deployment, the PACS and RIS market is segmented into Web-Based, On-Premise, and Cloud-Based solutions. The Web-Based segment held the largest market share in 2019, while the Cloud-Based segment is projected to grow at the highest CAGR of 9.5% during the forecast period.

Finally, the PACS and RIS market is segmented by end users, including hospitals, diagnostic centers, research and academic institutions, and other users. The hospitals segment accounted for the largest share in 2019 and is expected to register the highest CAGR of 8.9% during the forecast period.

Key sources for this report include the Centers for Disease Control and Prevention, the European Union, the National Health Service, the Food and Drug Administration, the World Health Organization, the American Dental Association, and Business Monitor International.