(PharmaNewsWire.Com, October 26, 2017 ) According to the report Global VNA & PACS market, published by Market Data Forecast, the Market size is estimated at USD 2.91 billion in 2016 and is projected to reach USD 3.86 billion by 2021, at a CAGR of 5.8% during the forecast period from 2016 to 2021. Vendor neutral archive (VNA) and picture archiving and communication system (PACS) are considered as two key markets in the medical image management industry. Vendor Neutral Archiving is a medical imaging technology that collects images in a basic format with a basic interface, which can be accessed through various PACS. Technology in this area has grown manifold.
By bringing about the sought after changes in the clinical workflow and by enhancing the unification and availability of data, VNAs have the ability to provide enhanced patient care. VNAs deliver timely access to patient data at the point of care. They also provide quick access to professional help for patients. They aid in decision making and also provide a sense of transparency for the entire process.
This market is mainly driven by technological advances, initiatives taken by the government, and an increasing demand for standard based storage, lifecycle management solutions, and disaster recovery. Consolidation of patient data by incorporating VNAs with electronic health records (EHR) is one of the key trends observed in this market. The main issues limiting the growth of this market are misinterpretation of the VNA concept, prolonged VNA lifecycles that sway the buying decisions of users and data breach incidences.
The major companies dominating this market for its products and services are Acuo Technologies (U.S.), which leads the global VNA market, followed by Agfa HealthCare (Belgium), Carestream Health (U.S.), Dell, Inc. (U.S.), BridgeHead Software (U.K.), Fujifilm Corporation (Japan), Merge Health (U.S.), GE Healthcare (U.K.), Philips Healthcare (The Netherlands), Siemens Healthcare (Germany), McKesson Corporation (U.S.), and TeraMedica (U.S.). The recent trends in mergers and acquisitions show that smaller companies are working with bigger ones for advanced innovations by utilizing their core competencies. The future of this technology looks pretty optimistic as it offers huge potential in the health care sector.
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