As health IT continues to thrive and develop on a more sophisticated platform, leading experts believe the global vendor neutral archive market will skyrocket. A recent publication in ReportsnReports shows that the North American vendor neutral archive market is expected to reach $204 million value by 2018. Additionally, according to recent findings from Global Business Intelligence Research, the worldwide PACS market value is expected to increase from $2.9 billion in 2013 to $5.9 billion by 2020. This accounts for a compound annual growth rate of 9 percent.
US will remain the largest PACS market
Although these numbers are expected to increase worldwide, the U.S. should still remain the biggest force driving these numbers. During 2013, the U.S. account for a PACS value of $1.4 billion, but those rates are expected to jump to $2.4 billion by 2020.
What hospitals and physician practices now need is a clinical archiving system that can not only store images, but contain a large variety of images that can be shared and viewed universally among healthcare providers. A vendor neutral archive is scalable beyond a department-level archive, allowing doctors to seamlessly share clinical images with one another regardless of their formats. VNAs, which can either work alone or alongside a pre-existing PACS, ultimately work to make things easier.