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South and Central America PACS and RIS Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Product, Component, Deployment, End User

South and Central America PACS and RIS Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Product, Component, Deployment, End User

  • May 2021
  • 128 pages
  • ID: 6103323
  • Format: PDF
  • The Insight Partners

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The PACS (Picture Archiving and Communication System) and RIS (Radiology Information System) market in South and Central America is expected to grow from US$ 107.9 million in 2019 to US$ 183.9 million by 2027; it is estimated to grow at a CAGR of 6.8% from 2020 to 2027. Growing technological advancement and product launches drive the growth of the PACS and RIS market. Most of the major market players operating in the market are adopting measures such as product launches as well as approvals to provide a better solution as well as software in the PACS and RIS market. For instance, in February 2020, Radiologex Foundation lunched Radiologex, a software ecosystem for the healthcare industry that encompasses productivity tools; clinical information systems; medical imaging processing and storage; entire payment settlement and lending/finance systems.
For instance, RSNA is working toward connecting radiologists and the radiology community to the most timely and useful COVID-19 information and resources as RSNA builds a COVID-19 imaging data resource called RSNA International COVID-19.Open Radiology Database (RICORD) will provide imaging data with annotations and supporting clinical information for use in education and research.

For instance, during February 2019, Philips introduced IntelliSpace Cardiovascular 4.1, a cardiovascular image and information management system. The platform offers efficient pediatric reporting capabilities. With the rising prevalence of cardiovascular disorders, the launch of software can enable better treatment as well as diagnosis of these disorders. The excellent benefits provided by these newly approved as well as launched products are expected to drive the growth of the market during the forecast period.

The South and Central America PACS and RIS market is segmented into product, component, deployment, and end user.Based on product, the market is segmented into Picture Archive and Communication System (PACS) and Radiology Information System (RIS).

In 2019, the picture archive and communication system (PACS) segment accounted for the largest share of the PACS and RIS market by product.The growth of the market for this segment is attributed to the as the solution offers benefits such as improved viewing and analysis, easy access to images and other reports, efficient data management, and a user-friendly interface.

A growing number of product introductions and approvals are estimated to offer a lucrative opportunity for market growth. Moreover, the market for the picture archive and communication system (PACS) segment is estimated to grow at the highest CAGR during the forecast period.
South and Central America is facing significantly challenging situations due to COVID-19 pandemic.Governments in the region have announced massive relief packages to fight against the pandemic.

The Brazilian scenario in relation to the radiological imaging for COVID-19 patient’s diagnosis supports the market growth.During this pandemic, the need for intensive support and accurate diagnostic imaging systems has increased the need for PACS and RIS, in both public and private hospitals.

Similar situation was observed in Argentina, Peru, Chile, and other South and Central American countries that eventually increased the need for Radiology Information System and Picture Archiving and Communication System, thereby positively impacting the growth of PACS and RIS market during the pandemic. For instance, in April 2020, PaxeraHealth, one of the major market player in South America region, launched initiative called as CoronaCare a complete tracking system for patients with COVID-19-like symptoms that is designed to screen and identify the highest risk patients quickly in real-time.
The overall South and Central America PACS and RIS market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

The process also serves the purpose of obtaining overview and forecast for the South and Central America PACS and RIS market with respects to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.

The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the South and Central America PACS and RIS market. Agfa-Gevaert Group; INFINITT Healthcare Co., Ltd.; Cerner Corporation; General Electric Company; Koninklijke Philips N.V.; FUJIFILM Holdings Corporation; Siemens AG; IBM; and Novorad are among a few players operating in the South and Central America PACS and RIS market.

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