The global vendor neutral archive (VNA) and picture archiving and communication systems (PACS) market is expected to be worth $3.48 billion by 2018, according to a new report from research firm MarketsandMarkets. The global VNA and PACS market is composed of VNA software solutions, as well as departmental and enterprise PACS.
MarketsandMarkets estimates the global VNA market will hit $165.3 million and will grow by 15.2 percent annually to $335.4 million by 2018. A report last year by Frost & Sullivan predicted that between 2011 and 2018, the U.S. VNA market would almost double, from $110 million in revenue in 2011, to $210 million in 2018.
Departmental PACS dominate the overall VNA and PACS markets, with roughly 86 percent of the total revenue, and should experience a growth rate of about 5 percent in the next five years. On the other hand, the enterprise PACS market is experiencing faster growth, and expected to surpass $500 million by 2018.
According to an announcement from MarketsandMarkets, the growing popularity of VNA solutions means the market is in the growth stage of its product lifecycle. The development and launch of products enabling the integration of VNAs and electronic health records is a growing trend. The VNA market also is being driven by the need for centralized storage of imaging data, government initiatives that support the use of advanced imaging information systems, and cost-related benefits.
Issues such as data security are serving to restrict VNA market growth, while cloud-based VNA solutions and interest from emerging markets will provide growth opportunities.