The size of the Vendor Neutral Archive (VNA) & PACS Market in Europe has been estimated at USD 0.78 billion in 2023 and is projected to reach USD 1.03 billion by 2028, at a CAGR of 5.63% during the forecast period from 2022 to 2027.
Vendor Neutral Archiving is a technology that amasses images in a standard format with a standard interface, which can be retrieved through several PACS. Technology in this area has grown manifold.
Vendor-neutral archive (VNA) and picture archiving and communication systems (PACS) are regarded as two important markets in the medical image management industry. VNAs offer timely access to patient data and also deliver quick access to expert help for patients. The growth of the Europe VNA & PACS market is primarily due to the technological advances, increasing demand for standard-based storage, and increasing preference towards the Consolidation of patient data. In addition, the European VNA and PACS market is also primarily influenced by governments' increased focus and spending on healthcare IT in the European market. Recently, the governments and Corporations in the UK, France, Germany, Italy, and Sweden have been focusing more and more on developing Healthcare IT infrastructure and manpower, resulting in the market's growth.
The demand for lifecycle management solutions is increasing due to the increasing use and need of Data in recent years, which is expected to accelerate the market’s growth. In addition, the Companies have been using the data and analytics generated by studying the lifecycle of a specific product and then taking necessary steps to increase the product's sales. VNA plays a vital role in the study of lifecycle management studies, and therefore the increasing lifecycle management studies have triggered the demand for the VNA and PACS market.
On the other hand, medical practitioners use the analytics and data made available by medical imaging technology for better diagnosis and faster and efficient treatment of illnesses. Since the PACS and VNA play a vital role in medical imaging and management, the market is heavily influenced. In addition, other factors such as less stringent government policies, disaster recovery, etc., are also expected to boost the European VNA and PACS market growth during the forecast period.
The factors restraining the European vendor-neutral archive (VNA) and picture archiving and communication system (PACS) market are due to an increase in the rising number of data breaches incidences and the high costs of the systems the services. In addition, the long lifecycle of the vendor-neutral archive impacts the buying decisions of users, which affects the sales of the devices; the rising misinterpretation of VNA is the cause that is affecting the growth and growth of the European VNA and PACS market.
This research report on the Europe Vendor Neutral Archive (VNA) & PACS Market is segmented and sub-segmented into the following categories:
Vendor Neutral Archive (VNA) Market:
By Business Mode:
By Mode of Delivery:
Picture Archiving and Communication System (PACS) Market:
By Business Mode:
By Type of Instruments:
By Mode of Delivery:
Regionally, in terms of future growth potential, the market in the U.K is expected to witness the fastest growth. Other emerging markets in the region are Sweden, Norway, Netherlands, Denmark, and Greece.
The European market was the second-largest regional market in the global VNA and PACS market after North America in 2020. It is expected to witness significant growth during the forecast period. The increasing demand for lifecycle management and cost-cutting solutions and the rising demand for standard-based storage mainly drive VNA and PACS's market growth. Also, the growing number of diagnosed patients with the ease of handling and increased use of medical imaging in diagnosis and treatment are propelling the market's growth. According to European stats, France, Germany, and Sweden had the highest healthcare spending relative to GDP in 2018 (Between 10.9% and 11.4%). In addition, the rise in increasing preferences for the consolidation of patient data also accelerates the VNA and PACS market growth. As a result, Germany, UK, France, and Italy are expected to contribute to the European regional market growth.
Germany accounted for the majority share of the VNA and PACS market, and it is projected to register a prominent share during the forecast period. The market growth is driven by the increase in investment and fundings from government and non-government firms for spending on medical and healthcare IT infrastructure.
KEY MARKET PLAYERS:
A few of the promising companies operating in the Europe Vendor Neutral Archive (VNA) & PACS Market profiled in this report are Acuo Technologies, which leads the global VNA market, followed by Agfa HealthCare, Carestream Health, Dell, Inc., BridgeHead Software, Fujifilm Corporation, Merge Health, GE Healthcare, Philips Healthcare, Siemens Healthcare, McKesson Corporation, and TeraMedica (U.S.).
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