The study is intended to be used by medical professionals to develop a knowledge-based plan for the use of medical image and data storage technologies.
The report says that the market is moving beyond traditional PACS in favor of VNA, which allows the viewing and sharing of data regardless of restrictions imposed by traditional PACS vendors.
North America is seen as the largest global market for these technologies. Another October report from Research and Markets found that the VNA and PACS market is anticipated to grow to $4.89 billion by 2027.
Experts say that the growth of this market will be driven in large part by the adoption of legislation such as the Health Information Technology for Economic and Clinical Health (HITECH) Act and the Affordable Care Act (ACA). While the landmark ACA is far more sweeping legislation affecting the entirety of the healthcare industry, the HITECH Act had a more specialized focus—to incentivize the use of digital imaging technology.
“PACS has been a critical piece of technology over the last [ten] years, and as we adopt more healthcare IT in other areas, I think PACS will be even more important. Right now it is mainly designed to run radiology,” said Don Woodlock, vice president and global general manager of GE Healthcare Integrated IT Solutions in an interview with Imaging Technology News shortly after the legislation was passed. “...We can still be great at storing images and displaying images, but we are not solely used in radiology anymore,” he said.
Research and Markets says that the adoption of PACS and VNAs can increase patient satisfaction, streamline the data storage process, and save money. The company also says that VNAs are on track to completely replace PACS for data storage.
“VNA was introduced in the 2000s and its popularity is phenomenal,” the statement read. “As healthcare systems are increasingly facing the demand for better information storage, sharing and transmission needs, compliance with Meaningful USE criteria, and improvement in efficiency, VNAs will gradually become indispensable for healthcare organizations.”
Globally, the medical imaging technology market is growing rapidly. Analysts expect that global net growth is expected to reach $45 billion in the next two years—a compound annual growth rate of over 5%, according to Valuates Reports.
The areas of fastest growth, according to the report, are in Latin America, the Middle East, and Africa. This increase is largely driven by greater urbanization and wealth, greater government funding, and greater awareness of the importance of early disease testing.
However, this market has also been heavily impacted by the COVID-19 pandemic, which has made patients across the world hesitant to visit hospitals for non-essential reasons. Government mandates against elective procedures across the United States and the world have also slowed the market’s growth.
This slowdown in growth could have real-world implications, says the Harvard Business Review in an article.
“The ban has resulted in a backlog of uncompleted procedures that had been scheduled over this three-month period, as well as a dynamic backlog of surgeries that continue to be delayed as the health system experiences diminished capacity,” the article said.
It said that the ban on elective procedures, which many mistakenly believe are optional, have increased the risk of damaging health effects on patients.
“Together, these factors have resulted in an astounding number of patients failing to receive the medical attention they need,” the article read. “…This anticipated demand in combination with health providers’ decreased capacity will likely result in creation of wait lists and potentially worsened health impacts on patients.”
The article suggests that hospitals employ specialists to assist patients with financial and logistical planning, shift efforts toward safer remote medicine options, specialize operational staff, and expand access to procedural care over the weekend.
By implementing these efforts, the article says, America will be back on track to care for patients in a timely manner.
“We are optimistic that a dedicated community of professionals can come together to address these challenges and restore high-quality surgical care to those in need,” it read.
About the Author
Elijah Labby is a graduate of the National Journalism Center. He has previously written for Broadband Breakfast, a technology and internet policy website.