by The global Ophthalmology Pacs Market is estimated to be valued at US$ 213.05 Bn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Ophthalmology PACS refers to a Picture Archiving and Communication System specifically designed for ophthalmic imaging. It facilitates storage, retrieval, management and transmission of images as well as being DICOM compliant which allows images and reports to be shared electronically. With growing eye disorders, Ophthalmology PACS plays a vital role in diagnosis and treatment.
Market key trends:
One of the major trends in the Ophthalmology Pacs Market is the increasing adoption of artificial intelligence and machine learning. AI is being integrated with PACS to extract meaningful insights from retinal images leading to early detection of retinal diseases like diabetic retinopathy and Age-related Macular Degeneration. AI enabled automatic disease detection and segmentation helps clinicians to save time spent on manual image analysis and focus more on treatment planning. This gives better clinical outcomes in eye care.
Market key trends:
The Ophthalmology Pacs Market has been witnessing rising adoption of digital ophthalmology procedures. Ophthalmology PACS helps in easy accessibility of patient’s eye test reports and images which can be reviewed from multiple locations. It also enables storage of large volumes of image data cost-effectively by eliminating the need for physical storage spaces. The market has been growing due to increasing demand for efficient way to store, view and share eye test results.
SWOT Analysis
Strength: Easy and secure storage of large patient data in digital format. Provides centralized access to clinical data from multiple locations.
Weakness: Requirement of high initial investment for installation and maintenance. Cyber security threats risks associated with digital patient records.
Opportunity: Growth in aging population prone to eye diseases. Increasing investments by vendors in product innovations.
Threats: High dependence on third party service providers for operations and maintenance. Threat from open-source alternatives.
Key Takeaways
The global Ophthalmology Pacs Market is expected to witness high growth, exhibiting CAGR of 5.9% over the forecast period, due to increasing prevalence of eye diseases among geriatric population. The North America region is expected to dominate the market throughout the forecast period owing to growing awareness about eye care and availability of advanced healthcare infrastructure.
Regional analysis
The Asia Pacific region is anticipated to be the fastest growing market for ophthalmology PACS over the next few years. This can be attributed to rising eye care needs of large geriatric population, growing medical tourism, and increasing healthcare expenditure in emerging countries of Asia Pacific.
Key players
Top players operating in the ophthalmology PACS market are Topcon Corporation, Agfa-Gevaert N.V., Sonomed Escalon, Carl Zeiss Meditec AG, EyePACS, VersaSuite, Heidelberg Engineering GmbH, ScImage, Inc., IBM Corporation, and Visbion Limited.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
