PACS and RIS Market to Grow at a CAGR of 8.4% to reach US$ 5,441.87 Million from 2020 to 2027

PACS and RIS Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Product (PACS and RIS), Component (Hardware, Software, and Services), Deployment (Web-Based, On-Premise and Cloud-Based), End User (Hospitals, Diagnostic Centers, Research & Academic Institutes, and Other End Users), and Geography.

Publication Month : Jan 2021

  • Report Code : TIPRE00003005
  • Category : Medical Device
  • Status : Published
  • No. of Pages : 203
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[Research Report] The PACS and RIS Market was valued at US$ million 2,836.65 in 2019 and is projected to reach US$ 5,441.87 million by 2027; it is expected to grow at a CAGR of 8.4% from 2020 to 2027.

The picture archiving and communication system (PACS) manages, retrieves, stores, and distributes the medical images. In the field of radiology, it is used for sharing and viewing diagnostic images. A radiology information system (RIS) is a software system used for handling medical images and other associated data. RIS retains track of radiology imaging orders and data of bills. It is used along with PACS and vendor-neutral archives (VNAs). RIS manages image archives, keeps records, and billing.  

The PACS and RIS market is segmented based on component, deployment, end user, and region. The market for PACS and RIS is analyzed based on regions such as North America, Europe, Asia Pacific, Middle East & Africa, and South and Central America. The report offers insights and in-depth analysis of the PACS and RIS market emphasizing on various parameters such as market trends, technological advancements, market dynamics, and competitive landscape analysis of leading market players across the world.  

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PACS and RIS Market: Strategic Insights

pacs-and-ris-market
Market Size Value inUS$ 2,836.65 million in 2019
Market Size Value byUS$ 5,441.87 Million by 2027
Growth rateCAGR of 8.4% from 2020 to 2027
Forecast Period2020 - 2027
Base Year2020
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Lucrative Regions for PACS and RIS Market

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Market Insights


Developments in Diagnostic Imaging Modalities Coupled with Rising Number of Diagnostic Tests Procedures

During recent years, there have been various developments in imaging modalities within healthcare for diagnostic purposes. Radiology has developed as a recent trend toward computerized management in the health service and has responded to the demand for cost-efficient and rapid communication between radiology departments and their users. The national rate for CT scans were 126 per 1,000 individuals in between 2014 and 2015. Rates ranged from 209 (New Brunswick) and 170 (Newfoundland and Labrador) to 88 (Alberta) and 93 (Prince Edward Island). According to the National Health Services (NHS) UK, there were 4.1 million imaging tests conducted in England in the 12 months from February 2017 to January 2017. Of these, 3.49 million imaging tests were reported to have taken place in January 2017. As per the World Health Organization (WHO), with improved health care policy and the guided protocol of medical imaging for COVID-19 diagnosis, there has been a rise in the number of global imaging-based procedures. Thus, the growing number of diagnostic imaging procedures performed across the world resulting in the increasing requirement of consumables for tests are expected to drive the growth of the global PACS and RIS market in the coming years.

PACS and RIS Products -Based Insights              

Based on products, the PACS and RIS market is segmented into picture archiving and communication system (PACS) and radiology information system (RIS). The PACS segment is further segmented into orthopedic PACS, oncology PACS, cardiology PACS, dental PACS, and others. In 2019, the PACS segment accounted for a larger share of the market, and is expected to register a higher CAGR in the PACS and RIS market during the forecast period. Growth of this segment is attributed to increasing adoption of PACS systems in radiological procedures. Further, the orthopedic sub-segment held a major market share.

Global PACS and RIS Market, by Component – 2019 & 2027

Global PACS and RIS Market, by Component – 2019 & 2027
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Deployment-Based Insights

Based on deployment, the PACS and RIS market is segmented into Web-Based, On-Premise and Cloud-Based. The web-based segment held the largest share of the market in 2019; whereas, the cloud-based segment is anticipated to register the highest CAGR of 9.5% in the market during the forecast period.   

End User – Based Insights

Based on end user, the PACS and RIS market is segmented into hospitals, diagnostic centers, research & academic institutes, and other end users. The hospitals segment held the largest share of the market in 2019, and is anticipated to register the highest CAGR of 8.9% in the market during the forecast period.

COVID-19 pandemic has become the most significant challenge across the world. The demand for PACS and RIS have increased in hospitals as the fast and easily accessible patient imaging is crucial in the treatment of COVID-19 patient. In April, the US Food and Drug Administration (FDA) has approved Intelerad’s InteleConnect EV solution for diagnostic imaging review on a range of mobile devices. This approval comes at a critical time for healthcare systems and ensures that radiologists are able to collaborate and leverage resources in creative ways, even when workstation access is not available. It also is approved for mobile diagnostic image review, and can immediately be used on various iPad and iPhone models, with additional devices on the horizon. All these factors are expected to bring positive prospects for the growth of the PACS and RIS market during this pandemic crisis.   

Product launches and expansion strategy are commonly adopted by companies to expand their footprint worldwide and meet the growing demand. These strategies are commonly adopted by the market players in order to expand its product portfolio.

The market players operating in the

PACS and RIS Market

adopted the strategy of product innovation to cater the changing customer demand across the world, which also permits the players to maintain their brand name globally.

By Product

  • PACS
    • Orthopedic PACS
    • Cardiology PACS
    • Oncology PACS
    • Dental PACS
    • Others
  • RIS


By Component    

  • Software
  • Hardware
  • Services


By Deployment

  • Web Based
  • On Premise
  • Cloud Based


By End User

  • Hospitals
  • Diagnostic Centers
  • Others


By Geography

  • North America

    • US
    • Canada
    • Mexico
  • Europe

    • France
    • Germany
    • Italy
    • UK
    • Spain
    • Rest of the Europe
  • Asia Pacific(APAC)

    • China
    • India
    • South Korea
    • Japan
    • Australia
    • Rest of Asia Pacific
  • Middle East & Africa (MEA)

    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of Middle East and Africa
  • South America (SAM)

    • Brazil
    • Argentina
    • Rest of South America

Company Profiles

  • Agfa-Gevaert Group
  • INFINITT Healthcare Co., Ltd.
  • McKesson Corporation
  • Cerner Corporation
  • General Electric Company
  • Koninklijke Philips N.V.
  • FUJIFILM Holdings Corporation
  • Siemens AG
  • IBM
  • Novarad
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Type, Application, End User

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


Who are the major players in the PACS and RIS market?

The PACS and RIS market majorly consists of the players such as Agfa-Gevaert Group, INFINITT Healthcare Co., Ltd., McKesson Corporation, Cerner Corporation, General Electric Company, Koninklijke Philips N.V., FUJIFILM Holdings Corporation, Siemens AG, IBM, Novarad and among others.

What are the driving factors for the PACS and RIS market across the globe?

The factors that are driving growth of the market are developments in diagnostic imaging modalities coupled with rising number of diagnostic tests procedures, affordable price of new generation PACS software are expected to boost the growth of the global PACS and RIS market.

What is PACS and RIS?

The picture archiving and communication system (PACS) manages, retrieves, stores, and distributes the medical images. In the area of radiology, it is used for sharing and viewing diagnostic images. A radiology information system (RIS) is a software system used for handling medical images and other associated data. RIS retains track of radiology imaging orders and data of bills. It is used along with PACS and vendor-neutral archives (VNAs). RIS manages image archives, keeps records, and billing.

The List of Companies - PACS and RIS Market

  1. Agfa-Gevaert Group
  2. INFINITT Healthcare Co., Ltd.
  3. McKesson Corporation
  4. Cerner Corporation
  5. General Electric Company
  6. Koninklijke Philips N.V.
  7. FUJIFILM Holdings Corporation
  8. Siemens AG
  9. IBM
  10. Novarad

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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