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Meticulous Research®, a premier global market research firm, has released a report titled “India VNA & PACS Market—Global Opportunity Analysis and Industry Forecast (2024-2031).” This report projects that the Indian VNA & PACS market will reach $341.6 million by 2031, growing at a CAGR of 9.9% from 2024 to 2031.
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The growth of this market is driven by several factors, including advancements in diagnostic imaging technologies, rising awareness and demand for high-quality healthcare, increasing adoption of medical imaging equipment, and the growing need for a filmless environment. Additionally, the surge in health IT and EHR adoption, alongside a rising geriatric population, further fuels this growth.
Key opportunities lie in the integration of artificial intelligence (AI) in medical imaging and the burgeoning telehealth market. However, the market also faces challenges such as inadequate infrastructure and high out-of-pocket expenses due to limited insurance coverage. Notably, the shift towards cloud-based solutions and the establishment of diagnostic imaging centers are emerging trends within the Indian VNA & PACS market.
Key Players:
The competitive landscape of the Indian VNA & PACS market features both large and small players, including:
The key players operating in the India VNA & PACS market are GE HealthCare Technologies Inc. (U.S.), Siemens Healthineers AG (Germany), Fujifilm Holdings Corporation (Japan), Agfa-Gevaert NV (Belgium), Carestream Health, Inc. (U.S.), Koninklijke Philips N.V. (Netherlands), Amrita Technologies (India), SoftTeam Solutions Pvt Ltd. (India), Medsynaptic Pvt. Ltd. (India), INFINITT Healthcare Co., Ltd. (South Korea), and Merative L.P. (U.S.). The PACS market is segmented by Procurement Model and Delivery Mode, while the VNA market is segmented similarly. The combined market analysis includes segmentation by Type, Imaging Modality, Vendor Type, and End User.
The PACS segment is expected to dominate, capturing over 79.2% of the market share in 2024, largely due to its extensive use in cardiology and radiology for replacing traditional film methods.
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In terms of procurement models, departmental PACS is projected to lead the market share in 2024, driven by increased imaging data usage across various medical fields.
On-premise PACS will also hold a significant market share due to advantages like quicker data access and enhanced data security. Similarly, the Enterprise VNA segment is anticipated to be the largest due to its benefits in data exchange and technology management.
Among imaging modalities, Computed Tomography (CT) is set to dominate, facilitating better integration and access within healthcare facilities.
By vendor type, independent software vendors are expected to maintain a strong position, responding to the growing demand for efficient medical imaging solutions. The hospital segment is projected to lead in end users, supported by rising admissions and the need for comprehensive image data management.
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Key Questions Answered in the Report-
- What is the value of revenue generated by the sale of VNA & PACS in India market?
- At what rate is the demand for VNA & PACS projected to grow for the next five to seven years in India?
- What is the historical market size and growth rate for the India VNA & PACS market?
- What are the major factors impacting the growth of the VNA & PACS market in India?
- What are the major opportunities for existing players and new entrants in the market?
- Which procurement model, delivery mode, imaging modality, vendor type, end user, and segments create major traction for the manufacturers in this market?
- What are the key geographical trends in this market? Which countries are expected to offer significant growth opportunities for the manufacturers operating in the India VNA & PACS market?
- Who are the major players in the India VNA & PACS market? What are their specific product offerings in this market?
- What recent developments have taken place in the India VNA & PACS market? What impact have these strategic developments created on the market?
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