The branch of medicine and surgery which deals with the conditions and disorders related to human eyes is called Ophthalmology. Since Ophthalmology requires diagnosis and medical imaging, the PACS system is closely related to it, too. A PACS system hospital where Ophthalmology is practiced usually stores and archives medical images found from diagnosing patients’ eyes. The global market for Ophthalmology PACS is quite big and it’s increasing every year. We are going to make a forecast on this market for the next 5 years.
The global Ophthalmology market can be divided into 6 parts, that are North America, Europe, Asia, Latin America, Middle East, and Africa. North America is expected to see the most growth due to its huge advancement in technology and the number of population. The growth in North America will be led by the US and Canada. Asia Pacific is expected to grow the second most.
The Market Leaders
There are some big players in the global Ophthalmology market who will lead the rest. Companies that are expected to lead are IBM Watson Health, Sonomed Escalon, Topcon Corporation, Vision, Heidelberg Engineering, EyePACS, and Carl Zeiss Meditec AG. This is not to say that the rest won’t have much. Since technology is advancing very fast, smaller players can also expect a big revenue in their next few years’ sales.
Factors That Will Have Effects On the Market
Ophthalmic imaging is one of the most integral parts of the ophthalmic division as it allows doctors to observe the findings of the patients through clinical ocular examination. PACS servers are important to store those findings. PACS is a medical image storing and archiving system. A PACS system hospital is able to store and archive medical images from different modalities in a single file storing system. PACS has lots of innovative uses and the increasing number of hospitals adopting teleophthalmology around the world is expected to grow the global PACS Ophthalmology market.
At the same time, factors such as regular maintenance of the system implementation, the initial acquisition, increasing adoption of VNAs will likely restrict the growth of the market. Also, let’s not forget about the cost. PACS servers cost a lot and having them in physical form increases the cost. The good thing is there are cloud PACS server software, too. Which is a good way to reduce the cost?
The Expected Growth in Terms of Money
The Ophthalmology PACS market can be divided into two types: Integrated and Standalone PACS, into two delivery modes: on-premise and cloud-based, into 3 end users: hospitals, specialty clinics, and others. The global Ophthalmology PACS market had an approximate value of $106 million two years ago and with a compound annual growth rate of 7.8% in the next 5 years, the market is expected to generate approximately $180 million.
The PACS system is very important for medical imaging and the global Ophthalmology PACS is expected to grow at a steady pace in the next 5 years.