The global vendor neutral archive (VNA) market is estimated at $165.3 million in 2013 and is poised to reach $335.4 million by 2018, at a compound annual growth rate (CAGR) of 15.2 percent, according to a new report from researcher MarketsandMarkets.
At present, the VNA and picture archiving and communication system (PACS) markets form indispensable segments of the imaging informatics market. The overall market (VNA and PACS) comprises of VNA software solutions as well as departmental and enterprise PACS.
Departmental PACS currently dominates the overall VNA and PACS market with approximately 86.5 percent of the total revenue contribution. However, this market is a considerably mature market, generating most of the revenues from PACS replacements. Hence, the market is expected to witness a stable CAGR of 5.2 percent from 2013 to 2018. Enterprise PACS, on the other hand, is growing faster than departmental PACS and is expected to reach $510 million by 2018, at an almost double CAGR, according to the report.
Owing to the growing popularity of VNA solutions, the VNA market is currently in the growth phase of its product lifecycle. The market is characterized by several inter-firm partnerships to deliver best-of-breed solutions to healthcare providers. In addition, development of products that enable the integration of VNAs with electronic health records (EHRs) and their subsequent launch in the market is a growing trend.
The major driving factors of the VNA market include the need for centralized storage of standard-compliant imaging data, government initiatives that favor the use of advanced imaging information systems, and technology and cost-related benefits. On the other hand, lack of an established definition of VNA resulting in confusion and data insecurity (breaches) is an issue that restricts market growth. Cloud-based VNAs, emerging markets, and patient-focused systems promise high-growth opportunities in the global VNA market, the report said.
In 2013, North America contributes the maximum share to both VNA and PACS markets, with shares of 64 percent and 48 percent, respectively. U.K., Germany, and France contribute largely to the European VNA and PACS market, whereas the Asia-Pacific region represents the most promising region owing to the nation and state-wide healthcare IT policies in Australia, China, and Japan.