June 19, 2024
Global Vendor Neutral Archive (VNA) Market

Global Vendor Neutral Archive (VNA) Market is Trending by Growing Adoption of Cloud Based Solutions

The global Vendor Neutral Archive (VNA) market refers to centralized data repositories which stores medical imaging data and non-imaging objects from multiple imaging modalities. VNA helps in archiving images and optimizing workflows in healthcare organizations by allowing easy integration of all patient data regardless of source into a single data repository. This helps clinicians easily access and share medical images and associated reports on multiple applications.

The Global Vendor Neutral Archive (VNA) Market is estimated to be valued at US$ 3.96 Bn in 2024 and is expected to exhibit a CAGR of 5.1% over the forecast period 2024 To 2031.

Key Takeaways

Key players operating in the Vendor Neutral Archive (VNA) market are Johnson & Johnson Private Limited, Merck & Co., Inc., F. Hoffmann-La Roche Ltd., Baxter, Bayer AG, Eli Lilly and Company, Sun Pharmaceutical Industries Ltd., Aurobindo Pharma, Lupin , Allergan, AbbVie Inc., Abbott, Bausch Health Companies Inc. , Pfizer Inc., GlaxoSmithKline plc, Novartis AG, Mylan N.V., Teva Pharmaceutical Industries Ltd., Sanofi, and AstraZeneca. The growing geriatric population and increasing prevalence of chronic diseases is driving the demand for advanced medical imaging solutions globally which is driving the adoption of Global Vendor Neutral Archive (VNA) Market Trends systems. The key players are expanding their global presence through mergers & acquisitions and new product launches to leverage growth opportunities in emerging markets.

Market key trends

One major trend in the Global Vendor Neutral Archive (VNA) market is the growing adoption of cloud based solutions. Cloud based VNA solutions offer benefits such as easy integration, cost effectiveness, remote data access and centralized data storage which are boosting their adoption. Cloud based VNA allows anytime access to medical images from any location which helps improve clinical outcomes. The increasing penetration of cloud computing in healthcare is a key driver for growing preference of cloud based VNA systems over on-premise models.

Porter’s Analysis

Threat of new entrants: New players cannot easily enter this market due to the need to develop the complex software and infrastructure required to setup a VNA system.

Bargaining power of buyers: Buyers have strong bargaining power in this market due to the presence of many established vendors offering VNA systems. However, switching costs once a system is implemented are high.

Bargaining power of suppliers: Suppliers have moderate bargaining power since vendors deal with multiple software and hardware suppliers for developing and implementing VNA systems.

Threat of new substitutes: There is no direct substitute for VNA systems as they aim to seamlessly store and exchange medical images and associated data across multiple healthcare IT systems.

Competitive rivalry: Intense as vendors compete based on product capabilities, security features, integration abilities and pricing.

Geographical Regions

North America holds the largest share of the global VNA market due to increased adoption of digital healthcare infrastructure and favorable government policies. The strong presence of leading vendors and healthcare IT players also drives growth.

The Asia Pacific region is expected to grow the fastest during the forecast period due to improving economies, rising medical tourism and government initiatives to modernize healthcare systems in countries like India and China through digital technologies. Rising per capita income will also support market expansion.

*Note:
1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it.