Global Radiology Information System Market is expected to reach USD 980.2 million by 2024. Radiology Information System (RIS) is a networked software system for handling medical imagery and linked data. The system is mainly used for tracking billing information and radiology imaging orders, and also used in association with VNAs and PACS (picture archiving and communication system) to achieve billing, image archives, and record-keeping. Its main function in the sector of billing, patient management, image tracking, scheduling, results reporting, and patient tracking. The Radiology Information System Market is estimated to grow at a significant CAGR over the future period as the scope and its applications are rising enormously across the globe.

Growing occurrence of chronic diseases and trauma patients, rising mergers of healthcare facilities, and group buying by secluded hospitals are documented as major factors of Radiology Information System that are estimated to enhance the growth in the years to come. The Market is segmented based on type, component, deployment mode, end user, and region.

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Standalone RIS and integrated RIS are the two main types that could be explored in Radiology Information System in the forecast period. The integrated RIS sector accounted for the largest market share and is estimated to lead the overall market in the coming years. Also, the segment is estimated to grow at highest CAGR in the coming years.

Hardware, services, and software are the components that could be explored in Radiology Information System in the foremost period. Cloud-based, web-based, and on premise are the deployment modes that could be explored in the foremost period. The market may be categorized based on end users like office-based physicians, emergency healthcare service providers, and others that could be explored in the future period.

Globally, North America accounted for the largest market share of Radiology Information System industry and is estimated to lead the overall market in the coming years. The reason behind the overall market growth could be quality, cost, and productivity in the healthcare IT system. The United States is a major consumer of Radiology Information System in this region as high demand for diagnostic imaging. Also, growing occurrence of chronic diseases, increasing demand by physicians, and patients, promising compensation policy, and presence of modern or latest technology are factors driving market in the region.

Instead, Europe and the Asia Pacific are also estimated to have a positive influence on the future growth. Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at fastest pace with the highest CAGR in the foremost period. The developing countries like India and China are the major consumer of Radiology Information System in this region.

The key players of Radiology Information System Market are Epic Systems, Cerner Corporation, Philips Healthcare, McKesson Corporation, GE Healthcare, Merge Healthcare, and Allscripts Healthcare Solutions, Inc. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition. As such, mergers, acquisitions, and joint ventures are the need of the hour.

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Market Segment:

Product Outlook (Revenue, USD Million; 2013 - 2024)
• Integrated
• Standalone

Deployment Mode Outlook (Revenue, USD Million; 2013 - 2024)
• Cloud-based
• Web-based
• On-premise

End-Use Outlook (Revenue, USD Million; 2013 - 2024)
• Hospitals
• Outpatient Department (OPD) Clinics
• Others

Regional Outlook (Revenue, USD Million; 2013 - 2024)
• North America
• U.S.
• Canada
• Europe
• UK
• Germany
• Asia Pacific
• Japan
• China
• Latin America
• Brazil
• Mexico
• Middle East & Africa
• South Africa

Radiology Information System Market Overview:

Radiology Information System Market is drifting towards an unprecedented market valuation with a growth that is almost double of its 2017 valuation. The technology has stirred a lot of feathers in recent times with its revolutionary impact in the healthcare sector. Its impact can be felt in the imaging technology mostly where the physicians now mostly rely on the radiology imaging as its accuracy is better than the rest available in the market. The workflow has become much smoother in the radiology units due to the advents in a radiology information system. Integration of computer has further helped in sharing reports and better coordination which eases the process of diagnosis or treatments. The global radiology information system market can expect a rise up to USD 1100 million with an impressive 8.20% CAGR during the forecast period (2018-2023). Market Research Future’s (MRFR’s) report on the same provides some insights on the segmental analysis and drivers that can veer the radiology information system market towards better prospect.

Cloud technology is expected to take the radiology information system market further ahead in the coming years. The system requires bulk data storage which can work offline as well. Cloud provides easy sharing and storage of bulk data. At the same time, non-invasive diagnostic and curative means are getting traction due to which the radiology information system can experience much preference in the healthcare sector. Escalating investment in the healthcare sector can open up avenues for the radiology information system market which can lead to better prospects in the coming years.

However, risks are also several as storing information on a cloud platform can attract the attention of the online hackers. A data breach can make individuals vulnerable to potential threats. This can prove to be a significant irritant for the radiology information system market.

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Radiology Information System Market Segmentation:

The radiology information system market can be segmented by component, type, end-user, deployment, and region.

Deployment-based segmentation of the radiology information system market consists of on-premise and cloud-based/web-based.

Type-wise segmentation of the radiology information system market comprises standalone radiology information system and integrated radiology information system.

Based on the end-users, the radiology information system market can be segmented into research & academic institutes, hospitals & clinics and others.

Component-wise segmentation of the radiology information system market consists services, software, and hardware.

Regional Segmentation:

Region-specific analysis of the radiology information system market includes namely Asia Pacific (APAC), the Americas, the Middle East & Africa (MEA) and Europe.

The Americas is driving the market forward at present. The trend is expected to remain the same during the forecast period. This can be attributed to the cost-effectiveness of EHRs, technological advancement level, rising investment in the healthcare sector and increasing adoption of cloud computing and web-based solutions to facilitate procedures & simplify workload.

Europe and the APAC can become profitable growth pockets for the radiology information system market. The regions together control almost a 74.8 % share of the global market. The APAC region is enjoying the bliss of countries investing much in the healthcare sector to evolve as a possible medical tourism hub. Pharmaceutical companies are also eyeing for expansion in the region as it offers business prospects with minimal investment.

Radiology Information System Market Competitive Analysis:

Companies making a name for themselves in the radiology information system market are IMAGE information systems, Ambra health, Advanced data systems corporation, Carestream Health, eRAD, Epic systems, PERFECT Imaging, LLC, IBM Watson health, Allscripts healthcare solutions, Cerner Corporation, Medinformatix, Inc, Bayer AG, Koninklijke Philips N.V, GE healthcare, and NextGen Healthcare.

In 2018, Philips unveiled their latest IntelliSpace Discovery 3.0 that is a comprehensive, open platform where Artificial Intelligence gains prominence in radiology, and it enables radiologists to aggregate, normalize and anonymize data. This data can later be analyzed with algorithms.

In November 2018, QT Ultrasound launched eRAD RIS and PACS that can be considered the best possible breast imaging system with high-resolution transmission ultrasound images, without compression or radiation.

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The report for Radiology Information System Market (RIS) of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. Globally the market for Radiology Information System (RIS) is increasing moderately. A radiology information system (RIS) is a networked system used for managing medical imagery and associated data. Radiology information system (RIS) is smart database that medical professionals use to keep track of patient data and which generated in the course of diagnosis and treatment. RIS is very useful in various operations such as patient registration, record keeping, resource management, examination performance tracking, examination interpretation, results distribution, and procedure billing. While most of the hospitals and other healthcare institutions are going the digital transformation converting from paper to a digital format. Increasing application of RIS in healthcare IS driving the market growth for Radiology Information System (RIS) market. North America is largest market for Radiology Information System (RIS) devices while Asia-Pacific is fastest growing market. Global Radiology Information System Market is expected to grow USD 901.8 million at the CAGR of 7.1% by 2022

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Segments:                                                                                                                   

Radiology Information System (RIS) Market has been segmented on the basis of type which comprises of integrated RIS and standalone RIS. On the basis of Deployment Mode, the market is segmented into Web-Based, On-Premise, Cloud-Based, and others. On the basis of Component, the market segmented into Software, hardware, services, and others. On the basis of end user, the market is segmented into Hospitals, research laboratories, healthcare institutes, and others.

Key Players for Radiology Information System Market (RIS):                   

Siemens Healthcare AG, GE Healthcare,Epic Systems Corporation, MedInformatix, Inc., Carestream Health, Inc., Allscripts Healthcare Solutions, Inc.,Merge Healthcare Incorporated, Koninklijke Philips N.V, McKesson Corporation.

Regional Analysis of Radiology Information System (RIS) Market:                             

Considering the global scenario of the market, North Americas region is believed to be the largest market for Radiology Information System (RIS). Moreover the European market is also growing continuously and expected to maintain its growth in near future. On the other hand, Asia-Pacific market is expected to grow at the fastest pace in the Radiology Information System (RIS) during the forecasted period. Middle East & Africa region are likely to have a limited but steady growth in the market.

Table of Content

1. Report Prologue 
   2. Introduction
   3. Research Methodology
   4. Market Dynamics
   5. Market Factor Analysis
   6. Radiology Information System (Ris) Market by Type
   7. Radiology Information System (RIS) Market by Deployment Mode
   8. Radiology Information System (RIS) Market by End User
   9. Radiology Information System (RIS) Market by Region
   …Continued

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