Global Vendor Neutral Archive Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027

Vendor Neutral Archive Market Overview:

The Vendor Neutral Archive Market was valued at $21.40 million in 2021 & is projected to reach $54.52 million by 2027. It is expected to grow at a 12.4% CAGR between 2021 and 2027.

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The Vendor Neutral Archive Market report offers in-depth insights, revenue details, and other vital information regarding the target market and the various trends, drivers, restraints, opportunities, and threats till 2027.

The Vendor Neutral Archive Market report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, future strategies, acquisitions & mergers, and market footprint. The global vendor-neutral archive market report has been segmented based on delivery type, procurement model, and region.

Vendor-neutral archive (VNA) is a medical imaging technology used to store medical images in archive format. VNAs enable healthcare organizations to consolidate, standardize, and archive images and data from different picture archiving and communication systems (PACS) into a single, easily accessible, and interoperable repository.

The increasing need for systematic storage of patients’ data using the standardized interface is a major factor driving the growth of the global vendor-neutral archive market.

In addition, increasing government expenditure on healthcare infrastructure and increasing technological advancements such as the development of advanced image information storage systems are other major factors driving the growth of the global vendor-neutral archive market.

In addition, the rising adoption of electronic health records by hospitals, clinics, etc., and vendor-neutral archive offering such as the ability to share and exchange documents cross-enterprise, and to connect and share DICOM and Non-DICOM contents are other factors expected to boost the growth of the global vendor neutral archive market.

Moreover, various advantages of VNA such as effective control of image data improved clinical and data workflow, easier integration of new imaging applications, and reduced data storage cost are other factors expected to boost the growth of the global vendor neutral archive market.

However, technological complexities in the vendor-neutral archive are a major factor expected to challenge the growth of the global vendor-neutral archive market.

In addition, the lack of medical professionals and practitioners to follow this standardized protocol may challenge the growth of this market.

The North American market is expected to dominate in the global vendor neutral archive market with a higher share in terms of revenue when compared to other regional markets and is expected to continue its dominance during the forecast period.

This can be attributed to the well-developed healthcare sector and the presence of prominent market players operating in this region.

The Europe market accounts for the second-largest revenue share in the global vendor neutral archive market followed by markets in the Asia Pacific, Latin America, and the Middle East & Africa respectively.

The market in the Asia Pacific is projected to witness the fastest growth in terms of revenue, owing to the increasing adoption of imaging in various departments, such as cardiology, pathology, oncology, and dermatology, and increasing government initiatives for the development of the healthcare sector in emerging economies in this region.

Vendor Neutral Archive Market Segmentation:

By Delivery Type:

• On-Premise VNA
• Hybrid VNA
• Fully Cloud-Hosted VNA

By Procurement Model:

• Departmental VNA
• Multi-Departmental VNA
• Multi-Site VNA

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa