The vendor neutral archive (VNA) market is projected to grow at a compound annual growth rate of 7.06% from the market size of US514.665 million in the year 2020 to reach the market size of US829.712 million in 2027. The growth is attributed to the increasing demand for medical image archiving systems universalization, a reduction in data storage costs, and the high-level integration of the electronic health record industry. The vendor-neutral archive is also preferred due to its compatibility with older data archival systems.
The vendor-neutral archive is a technology for medical imaging. In this, the medical images and documents are archived in a proper standardized format with a standard interface. Due to the standardization, these images can be accessed in a vendor-neutral manner by any other system. The term is used in the traditional picture archiving and communication system. The vendor-neutral archive and picture archiving and communicating system share many common features. The vendor-neutral archive market is estimated to grow owing to the rising demand for storage based on standards, disaster recovery, lifecycle management strategies, and many favorable government regulations for many top VNA companies. The VNA market is thus expected to grow during the forecast period.
The growing trend of electronic health records (EHR) is expected to propel the market. At present, for the sake of quality care delivery and maintaining efficient healthcare management, information-based decision-making is crucial. The availability of patients’ health-related data is required for crucial decision-making. Although the data or patient’s information does exist in the various systems of numerous healthcare providers, it is not readily available to the doctor or clinician. Most of the time, the patients’ data is being floated in departmental silos and file systems. This will ultimately lead to decisions being taken based on incomplete information. In an attempt to prevent such situations or such decisions, the trend of electronic health records has been evolving.
The vendor-neutral archive integrates the consolidation of patients’ information with an electronic health record system. This allows doctors and clinicians to make effective decisions. The trend of electronic health records started long ago. The initiatives taken by governments to enhance its outreach by undertaking various programs have accelerated its growth in both developed and developing countries worldwide. However, the EHR system is adopted more widely in developed countries owing to the early adoption of advanced technology. T Organizations with the high-level integration of electronic health records can liberate the patient’s information and make it available to doctors or other healthcare professionals whenever required.
Picture archiving and communication systems, which have common features of vendor-neutral archive systems, are also expected to grow with the VNA market. Due to the rising awareness regarding vendor-neutral archive and picture archiving and communication systems, the adoption of these technologies has been done by many hospitals in developed countries, and a similar scope is expected in developing countries as well. The other factors contributing to the growth of the VNA system are the increasing focus on the healthcare sector and rising healthcare expenditure. The Vendor Neutral Archive is mostly used in radiology. Along with this, it is also applied in the ultrasound and MRI systems to record and store the patient’s data.
North America holds a significant market share
North America has dominated the vendor-neutral archive market and is expected to continue its top position during the forecast period. The North American countries, such as the United States, and Canada, are the early adaptors of advanced technologies. These countries are at the frontline of reducing healthcare costs by applying various innovations. Information systems are capable enough to reduce this cost and improve the outcomes. This system also improves the quality-of-care delivery. Considering these many advantages of the VNA system, North America is enhancing the development and usage of VNA in its countries. Thus, is expected to grow at a faster pace in the Vendor Neutral Archive market during the forecast period.
Restraints on the market’s growth The vendor-neutral archive is avoided by consumers because of the fact that this system does not provide long-term data. Similarly, the vendor-neutral archive product does not stand alone with a short lifecycle. These factors create an obstacle in the path of the VNA market. Due to its high cost and doubts about its performance in storing large amounts of data, many developing countries have not implemented this technology in their hospitals.
|Market size value in 2020||US$514.665 million|
|Market size value in 2027||US$829.712 million|
|Growth Rate||CAGR of 7.06% from 2020 to 2027|
|Forecast Unit (Value)||USD Million|
|Segments covered||Deliver Type, Model, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Afga healthcare, FUJIFILM Holding Corporation, Dell Technologies Inc, GE Healthcare, IBM Corporation, Koninklijke Philips NV, Lexmark International Inc, McKesson Corporation, Novarad Corporation, Siemen AG|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the vendor-neutral archive (VNA) market size by 2027?
A1. The vendor-neutral archive (VNA) market is projected to reach a total market size of US$829.712 million by 2027.
Q2. What is the size of the global vendor-neutral archive (VNA) market?
A2. Vendor Neutral Archive (VNA) Market was valued at US$514.665 million in 2020.
Q3. What are the growth prospects for the vendor-neutral archive (VNA) market?
A3. The global vendor-neutral archive (VNA) market is projected to grow at a CAGR of 7.06% during the forecast period.
Q4. Which region holds the largest market share in the vendor-neutral archive (VNA) market?
A4. North America has dominated the vendor-neutral archive market and is expected to continue its top position during the forecast period.
Q5. What factors are anticipated to drive the vendor-neutral archive (VNA) market growth?
A5. The vendor-neutral archive (VNA) market growth is attributed to the growing demand for medical image archiving system universalization, reduction in the data storage costs, and high-level integration of the electronic health record industry.
FUJIFILM Holding Corporation
Dell Technologies Inc
Koninklijke Philips NV
Lexmark International Inc
All our studies come with 2 months of analyst support.
We are in compliance with the global privacy laws.