VNA & PACS MARKET. Global Forecast to MarketsandMarkets

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1 VNA & PACS MARKET Vendor Neutral Archive (VNA) [On-premise Software, Hybrid & Cloud; Multi-Department & Multi-Site VNA] & Picture Archiving and Communication System (PACS) [Enterprise, Cardiology & Radiology] MarketsandMarkets

2 MarketsandMarkets is a global market research and consulting company based in the U.S. We publish strategically analyzed market research reports and serve as a business intelligence partner to Fortune 500 companies across the world. MarketsandMarkets also provides multi-client reports, company profiles, databases, and custom research services. MarketsandMarkets covers fourteen industry verticals, including aerospace and defence, advanced materials, automotives and transportation, banking and financial services, biotechnology, chemicals, consumer goods, energy and power, food and beverages, industrial automation, medical devices, pharmaceuticals, semiconductor and electronics, and telecommunications and IT. Copyright 2013 MarketsandMarkets All Rights Reserved. This document contains highly confidential information and is the sole property of MarketsandMarkets. No part of it may be circulated, copied, quoted, or otherwise reproduced without the approval of MarketsandMarkets. MarketsandMarkets Sample Page 2

3 1 INTRODUCTION 1.1 RESEARCH METHODOLOGY This report is an extensive, technical, market-oriented research study. Information for this research study was collected from secondary sources, directories, and databases. The primary sources used for this report consist of industry experts from core and related industries. All these primary sources were interviewed to obtain critical qualitative and quantitative information as well as to assess the future prospects of the market. The following figure shows the market research methodology applied in making this report on the global VNA market. FIGURE 1 VNA MARKET: RESEARCH METHODOLOGY Historical Data for the VNA Market Evolution Market Share Pricing Trends Competitive Landscape VNA Procurement Pattern VNA Delivery Mode Regulatory Landscape Geographical Usage Pattern Market Drivers: Demand for standardbased image archival Technological advantages of VNA over PACS Market Penetration: Growing adoption of EHRs Penetration of cloud computing in healthcare industry Market Restraints: Longer VNA lifecycles Data insecurity and breaches Influencing Factors (Market Trends and Dynamics) Market Opportunities: Emerging markets Patient-centric approach provides a new direction to VNA Agreements, Collaborations, & Partnerships: More than XX deals in the last 3 years New Product Launches: More than XX launches in the last 3 years Geographic Analysis Government Initiatives to Promote VNAs: HITECH Act (U.S.), PPACA Act (U.S.), egovernment Action plan (European Commission), i-japan Strategy 2015 (Japan), project (China), Ti Maior (Brazil) Forecasting Historical Data of Market Impact Analysis of Market Trends Market Size & Forecast by Delivery Mode Market Size & Forecast by Procurement Model Arrive at the Market Size, Volume, Share, and CAGR for the VNA Market MarketsandMarkets Sample Page 3

4 2 MARKET OVERVIEW 2.1 MARKET DYNAMICS FIGURE 2 MARKET DYNAMICS IMPACT ANALYSIS Drivers Present 5 Years 10 Years Present 5 Years 10 Years Standard-based medical image archiving and non- DICOM content management Data breaches VNAs overcome PACS technological limitations Reduction of data migration costs Longer lifecycles of VNA impact the adoption decisions Government regulations and guidelines Effective disaster recovery and lifecycle management strategies Confusion arising from an unclear definition of a true VNA Restraints Restraints MarketsandMarkets Sample Page 4

5 2.1.1 OPPORTUNITIES Patient- centric approach to deliver enhanced care to open new avenues for development of VNAs By bringing desired changes in the clinical workflow and by improving the unification and accessibility of data, VNAs have the capability to provide enhanced patient care. VNAs provide timely access to patient data at the point-of-care. They also offer early access to professional help for patients, they help with faster decision making, and they bring about transparency. Another factor that is driving the need for patient-centric systems is rising patient awareness. The increased awareness of patients with regards to healthcare has greatly helped them to make decisions, especially in the management and treatment of chronic conditions. If the patient has access to his/her personal health information that is shared across public and private clinical organizations, it could enable healthcare providers and patients to collaborate and make informed decisions. Many EHR systems that are marketed today are featured as "patient portals" that give individuals immediate access to their own lab results, X-ray reports, list of medications, and other information. Similar strategies can be applied to VNAs that would allow patients to communicate securely via with their physicians and other medical personnel. Thus, installation of VNAs that are developed with the idea of delivering high-quality patient care is poised to increase amongst organizations. MarketsandMarkets Sample Page 5

6 3 INDUSTRY ANALYSIS 3.1 VENDOR NEUTRAL ARCHIVES ECOSYSTEM A VNA ecosystem majorly comprises of imaging modalities; PACS systems; VNA software components; and VNA storage components, including a primary subsystem and a secondary subsystem. FIGURE 3 VNA ECOSYSTEM Radiology Department Imaging Modalities Cardiology Department Imaging Modalities Other Departments Imaging Modalities PACS (Multi-Vendor) PACS (Multi-Vendor) PACS (Multi-Vendor) DICOM Gateway Primary Subsystem VNA Software Secondary Subsystem MarketsandMarkets Sample Page 6

7 3.2 PRODUCT LIFECYCLE INTRODUCTION The two major products in the imaging informatics market include Vendor Neutral Archives (VNAs) and Picture Archiving and Communication Systems (PACS). Currently, VNA contribute around XX% to the revenue market, while PACS contribute to the remaining XX%. FIGURE 4 PACS VS. VNA: PRODUCT LIFECYCLE PACS Technology Adoption VNA Introduction Growth Maturity Decline MarketsandMarkets Sample Page 7

8 4 GLOBAL PACS (PICTURE ARCHIVING AND COMMUNICATION SYSTEM) MARKET 4.1 DEPARTMENTAL PACS TABLE 1 GLOBAL DEPARTMENTAL PACS MARKET, BY TYPE, ($MILLION) Type CAGR% ( ) Radiology PACS XX XX XX XX XX Cardiology PACS XX XX XX XX XX Other Departmental PACS XX XX XX XX XX Total XX XX XX XX XX The radiology PACS segment accounts for the largest share XX% of the global departmental PACS market in This segment is expected to reach $XX million by 2018, at a CAGR of XX% for the same period. The radiology department of a hospital is where a majority of the imaging studies are handled, managed, and stored. With the ever-increasing medical image volumes, the pressure on the radiology department also increases. This explains the largest share held by radiology PACS in the overall market. Cardiology PACS is however the fastestgrowing segment, with a CAGR of XX% owing to the rise in cardiac screening exams and due to the developments in the cardiology imaging technology. MarketsandMarkets Sample Page 8

9 5 GLOBAL VNA (VENDOR NEUTRAL ARCHIVES) MARKET 5.1 INTRODUCTION TABLE 2 GLOBAL VNA MARKET, BY PROCUREMENT MODEL, ($MILLION) Procurement Model CAGR% ( ) Departmental VNA XX XX XX XX XX Multi-department Enterprise VNA XX XX XX XX XX Multi-site Enterprise VNA XX XX XX XX XX Total XX XX XX XX XX The multi-department VNA segment accounts for the largest share XX% of the global VNA market in This segment is expected to reach $XX million by 2018 at a CAGR of XX% for the same period. Cross-departmental interoperability is seen as the first step to achieving communication within a hospital setting, a factor that explains the largest share and highest CAGR of this segment. The segment is closely followed by departmental VNAs contributing XX% to the market. This procurement model is generally adopted in radiology departments with the view to test a VNA for their department so as to take a further decision of scaling up to a multi-departmental level. A VNA at a multi-site level allows VNA adoption across various hospital enterprises, the trend for which is growing at a rapid pace. This segment is expected to witness a high CAGR of XX% from 2013 to 2018 owing to various factors such as hospital consolidations and government initiatives to promote nation-wide adoption of healthcare information technology systems MarketsandMarkets Sample Page 9

10 6 GEOGRAPHIC ANALYSIS 6.1 INTRODUCTION TABLE 3 GLOBAL VNA MARKET, BY GEOGRAPHY, ($MILLION) Region CAGR% ( ) North America XX XX XX XX XX Europe XX XX XX XX XX Asia-Pacific XX XX XX XX XX RoW XX XX XX XX XX Total XX XX XX XX XX North America commands the largest share XX% of the global VNA market at an estimated $XX million in It is expected to reach $XX million by 2018, at a CAGR of XX% from 2013 to This growth in the North American market is because of the mandates imposed by the federal government for image enablement of EHRs via Meaningful Use of the HITECH (Healthcare Information Technology for Economical and Clinical Health) Act. The rising imaging volume in the U.S. owing to the aging population and subsequent demand for diagnostic imaging is another major reason for its large share. Europe, on the other hand, has the second-highest share in the VNA market and is the fastestgrowing region for VNA adoption. The healthcare structure in European countries like U.K., Germany, and France encourages VNA deployment on a multi-site level rather than on a departmental level. Deployment of VNAs on a large scale is expected to bring higher revenues MarketsandMarkets Sample Page 10

11 to the European market, thus substantiating the higher growth. Moreover, the European market is more advanced than the U.S. market in terms of standards followed. The European market has begun to adopt the XDS-based VNA while the U.S. market, on the other hand, still lags behind technologically, with the traditional DICOM standard-based VNA still accounting for the largest share in the U.S. 6.2 EUROPE TABLE 4 EUROPE: VNA MARKET, BY DELIVERY MODE, ($MILLION) Delivery Mode CAGR% ( ) On-premise VNA XX XX XX XX XX Hybrid VNA XX XX XX XX XX Fully Cloud-hosted VNA XX XX XX XX XX Total XX XX XX XX XX The on-premise VNA segment accounts for the largest share of the European VNA market in This segment is expected to reach $XX million by 2018, at a CAGR of XX% for the same period. MarketsandMarkets Sample Page 11

12 7 COMPETITIVE LANDSCAPE 7.1 COMPETITIVE SITUATION & TRENDS INTRODUCTION FIGURE 5 KEY GROWTH STRATEGIES, XX% XX% ABC New Product Launch XX% XX% DEF Agreements, Collabora Ventures, Partnerships GHI Mergers & Acquisitions JKL Others Source: MarketsandMarkets Sample Page 12

13 8 COMPANY PROFILES 8.1 ACUO TECHNOLOGIES (PERCEPTIVE SOFTWARE) STRATEGY & INSIGHTS FIGURE 6 ACUO TECHNOLOGIES: MARKET STARTEGY, Lexmark International (Acquired in 2013) To join forces in providing customers a means to access clinical data via any EMR system. To lead ISVs in the VNA Market Contract (U.S. Army and U.S. Navy) Universal Clinical Platform (UCP) (Product Up Gradation in 2012) To execute a $XX million worth project using its Universal Clinical Platform to archive images from around XX PACS sites To update the Universal Clinical Platform with advanced features. Several Partnerships from 2011 to 2013 To optimize, integrate and strengthen its expertise to complete contracts of various nature with healthcare providers Source: Annual Reports, SEC Filings, Expert Interviews and MarketsandMarkets Sample Page 13

14 8.2 TERAMEDICA MNM VIEW FIGURE 7 SWOT ANALYSIS : TERAMEDICA Strengths Weakness Strong and competitive VNA product portfolio Partnership with Logicalis Cloud and ClearDATA allows developments in the cloud infrastructure for TeraMedica s VNA solutions S W Substantial dependence on multi-billion players in the market to sell its solutions Competition from PACS vendors and other independent software vendors The lack of a strong distribution channels poses a threat in the emerging market Threats T TeraMedica O Geographic expansion with new European headquarters Significant growth opportunities in mobile systems (ipad and iphone devices) for image viewing, accessing and archiving with innovative Evercore Connext. Opportunities Source: Annual Reports, SEC Filings, Expert Interviews and MarketsandMarkets Sample Page 14

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