HYDERABAD, India, June 16, 2016 /PRNewswire/ --

Mordor Intelligence announces the publication of their report on Global VNA (Vendor Neutral Archive) and PACS (Picture Archiving and Communications System) Market. This report discusses the Global VNA and PACS market, the current market scenario, investment opportunities and an in-depth analysis of the companies operating across the world.

Global VNA and PACS market is growing with a CAGR of 5.9% and is projected to reach USD 4,133 million by 2021. VNA is a system that converts all kinds of medical images into DICOM standard images while PACS archives those images. PACS can be used to archive images generated by any imaging modality such as MRI, Ultrasound, CT, Nuclear Imaging, X-Ray, Fluoroscopy, Mammography, Echocardiography, etc.

Due to an increasing awareness of diseases, the use of diagnostic imaging is continuously increasing, which is resulting in a generation of amplified imaging data for archiving. This phenomenon is increasing the demand for universalization of medical image archiving and storage of all formats of medical data. Reduced data storage costs, high level integration with Electronic Health Records (EHR) industry and compatibility of VNA with older data archival systems are factors driving the VNA and PACS market.

Concerns regarding the effects of long-term data availability on the decisions of service providers, along with other factors such as long product life cycle, which reduces the need for replacement and the dependency of VNA and PACS sales on capital equipment sales are acting as barriers to the market growth.

The market is segmented based on product type, imaging modality, data storage, mode of use, installation and type of player. Among the imaging modalities computed radiography and digital radiography are the largest market segments.

Due to the rapidly growing market, the VNA and PACS have garnered the attention of several large drug development companies and this market has several major players like; GE Healthcare, Philips Healthcare, Siemens Healthcare, Toshiba Healthcare, Dell, IBM, Fujifilm Corporation, Novarad Corporation, ACUO Technologies, AGFA Healthcare and TeraMedica.

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SOURCE Mordor Intelligence